Once a popular exchange, Cobinhood is phasing out more services.
Taiwan-based cryptocurrency exchange Cobinhood is making significant adjustments to its customer service practices in 2021.
According to an official announcement on Nov. 1, Cobinhood will change its customer service policy to get rid of real-time interactions with clients.
Starting Jan. 1, 2021, Cobinhood’s customer support will only communicate with clients through email. “During the whole process, no service specialist will be engaged for real-time conversation and everything will be done by email,” the announcement notes.
As part of the upcoming customer service change, Cobinhood will also prohibit its customers from changing account passwords and the original registered email address. The exchange’s customer service will only reply to requests by sending emails to originally registered email addresses.
The current status of Cobinhood’s operations remains unclear as earlier this year, the exchange announced it would be shutting down and auditing all account balances from Jan. 10 to Feb. 9. The exchange promised to resume operations on Feb. 10, but online data about the exchange shows that Cobinhood has been mostly inactive.
Major crypto market data providers like CoinMarketCap and CoinGecko show no trading volume on Cobinhood. Furthermore, Cobinhood’s official Telegram channel and Twitter account have been silent since 2019. However, the Nov. 1 announcement claims that the exchange intends to “provide more effective service.”
Cobinhood did not immediately respond to Cointelegraph's request for comment.
Launched in 2017, Cobinhood used to be one of the world's biggest crypto trading platforms. In order to launch the exchange, Cobinhood’s founders raised $10 million in an initial coin offering in Oct. 2017. At publishing time, Cobinhood’s token COB is trading at $0.0005 with a market cap of $238,276, down from about $400 million in early 2018.