Scam Alert: Coinsoda Exchange, Soda Coin, Telegram And Twitter Channels All Disappear

Scam Alert: Coinsoda Exchange, Soda Coin, Telegram And Twitter Channels All Disappear

According to a Reddit post uploaded by Diquiurenminbi, Coinsoda has disappeared as well as its cryptocurrency and exchange. The Reddit user uploaded a post in which it explains that this blockchain and cryptocurrency project is part of a new exit scam.

The user explains that not only Soda Coin has disappeared and the exchange, but also coinsoda.io, and its Telegrams and Twitter accounts. The Telegram announcement page is still there.

At the same time, the user explains that the company was giving away Soda coins and users that deposited BTC and ETH were going to receive an extra 2% of the funds.

The Reddit user commented on the matter:

“Meh, not that surprising really or interesting but it was an airdrop thing I had acquired a few of, just thought I’d share the news for anyone interested.”

There have been several exit scams during the last year. Cryptocurrencies and companies related to them have been expanding in the market after the bull run experienced at the end of 2017.

Scammers have also decided to participate in the market and steal users funds with different methods. One of the favorite ways scammers have to steal funds is by creating a fake Initial Coin Offering and blockchain project, gather funds and escape once they reach an important number of cryptocurrencies such as Bitcoin or Ethereum.

It seems that Soda Coin was one of these exit scams that aim at stealing users funds. This is why it is very important for investors to make a correct investigation about the different proposals made by these new platforms.

A Reddit user commented on the post that ‘some say they ran out of gas.’