Is coinsoftworks Closing All Chinese Accounts?

Is coinsoftworks closing all Chinese accounts?

Due to legal difficulties and restrictions coinsoftworks has decided to concentrate on its business in the United States and Europe, and will no longer serve Chinese clients after January 18, 2022.

What will happen next?

The email address associated with each Chinese customer's account has received a formal notification. This notification provides the account closure date along with specific instructions on how to withdraw funds and how money will be returned to account holders in a secure manner.

In the interim, all account and app functionality will remain operational, allowing customers to continue spending or withdrawing funds from their accounts until they are terminated. Until they are closed, all coinsoftworks accounts will continue to receive cs™ Protect insurance coverage on a pass-through basis up to the applicable legal maximum if eligible.

There is no impact on any other markets in which coinsoftworks operates.

How do I withdraw my money from my account?

Please consider the following withdrawal options if you have funds in your account (including Spaces):

• Send all your remaining balances to your alternate platform or application (including cold wallet)

• If you own any other currency than USD you will have to exchange it to buy crypto and send the rest to your other platform until January 18th, 2022.

• You can temporary transfer all your assets and funds to a trusted individual living outside of china. You can also transfer ownership to an offshore company you own, to do so please contact the support for further informations.

What other steps am I required to take?

In addition to transferring your funds before your account is closed on January 18, 2022, you may wish to perform the following steps:

• If you have direct deposit or any recurring payment set up for your coinsoftworks account, please update the account information to an alternative account/platform.

• If you have funds in your Spaces, please transfer them to your primary account to ensure that all funds are withdrawn prior to the closure of your account.

• Please cancel any scheduled external withdrawals or automated transactions before your account is closed.

What occurs following January 18, 2022?

On January 18, 2022, all Chinese coinsoftworks accounts will be closed. If you do nothing by January 18, 2022, and you still have money in your account, we will mail you a paper check for the remaining balance to the address on file. Please allow at least 14 business days for the processing and mailing of the check.

Will I still have access to my app and transaction history after the account has been closed?

No. Once the account is closed, you will no longer be able to log in to the coinsoftworks app or directly access account history. We recommend that you (new tab)download your account statement prior to closing the account.

Will you keep my data even though you have closed my account?

Specified data must be kept for a specified amount of time after an account is closed according to Chinese laws and regulations.

I have another question - how can I speak to customer service?

Please contact us via email at support@coinsoftworks.com