First Look
Cobinhood rolled into the crypto scene in 2017, no big fanfare, but a bold pitch: trade with zero fees. It caught attention fast – people lured by the idea of free maker and taker orders. They had their token, COB, and they even underwrote ICOs. At one point, users thought it was going places.
Popo Chen, the founder, tried to keep up after controversy. In mid-2019, users had withdrawal issues, rumors of internal turmoil, and even whispers of an exit scam. Chen posted on Medium to calm things down, saying there was no scam and that shareholders were negotiating. But trust had frayed.
Then came the shutdown notice in January 2020: Cobinhood would freeze accounts, audit balances from January 10 to February 9, then supposedly reopen on February 10. Users were warned not to deposit funds – red flag number one.
Shoot for Zero, Pay in Losses
Zero trading fees were cool, but Cobinhood built no solid safety net. KYC was optional at first – just email and password – and level-1 users had withdrawal caps (like 3 BTC/day). Fiat access meant going through stricter levels.
It had its perks: token contests, referral bonuses, support for dozens of ERC-20 and coins. But hiding behind that were missing audits, no meaningful legal oversight, and a reputation tied more to gimmick than stability.
The Exit
As withdrawals slowed and support vanished, forums lit up. People shared their stories: accounts locked, balances gone, no response. Some mentioned a weird refund schedule – like specific coins returning first, others still missing months later.
Tracking sites and data aggregators started listing Cobinhood as inactive by late 2020. Real-time support was axed in 2021, leaving only email replies. Most social channels went dead. Trading volume dropped to zero, and whatever spark remained simply died.
Why It Failed
Too much hype, not enough backbone. Cobinhood doubled down on marketing – low fees, free trading – but ignored the fundamentals. Users lost faith when withdrawals stopped and communication disappeared. In crypto land, that’s often game over.
The Wreckage Today
Looking for Cobinhood now? Almost nothing survives. The site barely loads. No support, no funds, no service. Company behind it – reportedly gone. What lingers are complaints on Reddit and threads about missing ETH or locked wallets.
Quick Facts
| Feature | Status / Details |
|---|---|
| Founded | 2017 |
| Fee model | Zero trading fees for maker/taker |
| Fiat support | Yes, but only with KYC Level 2+ |
| Withdrawal limits | Level-1 users capped ~3 BTC/day |
| Shutdown timeline | Jan 10–Feb 9 2020 – audit period only |
| Volume now | Deceased, zero trading |
| Community trust | Severely damaged |
| Regulation | Virtually none; opaque structure |
| Verdict | Failed, defunct, trust lost |
Final Thoughts
Cobinhood came in with swagger – “free trading for everyone,” they said. Even celebrities backed it. But zero fees don’t equal zero risk. When mismanagement and lack of transparency took over, users became skeptics. By 2020, the service froze, and by 2025 it’s just a cautionary tale.
If a platform promises everything and safeguards nothing, eventually it vanishes. Cobinhood offers a lesson: hype is fine – but if there’s no foundation, the whole thing can crumble overnight.