Hong Kong Crypto exchange Coinsuper hit with frozen funds

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Customers of Coinsuper, a Hong Kong-based cryptocurrency exchange, have said they can’t withdraw money or tokens from the bourse.

Bloomberg reports that at least seven customers have reported the matter to police.

A review of Coinsuper’s official Telegram chat reveals that clients have been unable to make withdrawals from bourse since late November.

Hong Kong’s head of securities watchdog in November 2020 said it would propose a licensing regime for all crypto-trading platforms.

In Coinsuper’s Telegram chat, the administrator stopped responding to queries about failed withdrawals in late November, then resurfaced in the past week to ask affected users to provide their email addresses, Bloomberg reports.

Coinsuper’s trading app remains operative.