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The crypto platform was ordered to pay users more than $ 4 million after it charged hidden fees for storing bitcoin on the site. This caused a complete drain of money from some accounts.
Note that Coin Cafe is located in Brooklyn. The site applied for a license in 2015. However, it was approved only at the beginning of this year. At the same time, the company could work under a separate permit, where it was stated that the site "exposes investors to risk."
Yesterday it turned out that the crypto platform collected huge fees from investors for storing bitcoins. At the same time, she did not inform the users themselves. This caused the destruction of some investor accounts.
Note that the platform itself said that it provides a wallet for free. As a result, the situation was taken over by the Prosecutor General's Office. According to their data, the platform has changed the size of commission fees 4 times since 2020, but at the same time did not inform about the new tariffs of investors.
