Rising Scam: Users’ Crypto Withdrawals Blocked on Coinsbit Exchange

• Coinsbit failed to list LMF tokens after reportedly taking listing fees.
• Akash Network’s founder reported being harassed by Coinsbit for listing fees.
• Coinsbit receives backlash for blocking users’ access to funds, sparking community concern.

The European crypto exchange Coinsbit has come under fire in the crypto community amid its concerning practices, including blocking users from accessing their crypto funds.

Greg Osuri, the founder of Akash Network, renewed the conversation around Coinsbit by highlighting his recent encounter with a representative from the exchange. Osuri shared a snapshot of their conversation, in which Coinsbit offered to list AKT tokens for a fee. 

However, the Akash Network founder believed the request was concerning as AKT had secured a listing at more prominent exchanges such as Coinbase and Kraken, supposedly at no monetary cost. Coinsbit attempted to talk Osuri out of the idea of free listing, stating that no trading platform endorses a …

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