We have followed on the Arab Bitcoin website the issue of the COSS platform from its beginning until now.

Although there are still more than 200,000 customers still denied access to their COSS accounts, the platform says that everything will be fine soon.

Some recent news reports suggest that the Singapore-based platform, COSS, has been taken over by a new team.

But what these reports did not mention is the entity or company that acquired the platform.

This news report is just the latest in an account that has been going on for more than a month.

The platform had previously closed users’ access to their accounts and remained out of business, with two million dollars worth of cryptocurrency locked up for its customers.

Read:Number of new bitcoin addresses hits two-year high

According to a company representative who spoke at the time, who was told that the reason for closing customer access was because the company was in the process of developing its internal systems.

The company rep mentioned that customers will have to wait up to a month before they can regain access to their account.

Three weeks later, clients are still unable to access their funds.

Suspicious acquisition:

Satyarth Mishra, Director of Community Relations at COSS, has not provided any details about the alleged acquisition.

The company also did not disclose details of the purchase price, in addition to not announcing the name of the buyer.

stated Mishra will:

The new team has experience in the field of algorithmic trading and has a team of experts in trading technology.

He continued his statement by saying that the platform had now received a much-needed financial injection, and therefore, it would not be long before it resumed its operations.

Mishra added:

Their goal will be to ensure that COSS has excellent liquidity for traders (which was not at its best before).

Read:One of the first investors in BitMEX to file a lawsuit demanding the platform for $ 300 million

It will be a stable platform that is maintained and improved regularly, adding product features that will make your trading experience better.

A company spokesperson informed that the reason the platform lagged behind the competition was because it didn’t have the right kind of technology, which also meant there wasn’t enough money across the company’s accounts.

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