Below is a comprehensive analysis of Coinstore (https://www.coinstore.com/#/) based on the requested criteria, including online complaints, risk level assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, and potential brand confusion. The analysis draws from available web information, critically evaluated to provide a balanced perspective.

1. Online Complaint Information ¶

Coinstore has garnered significant negative feedback across review platforms, raising concerns about its operations. Key complaints include:

• Withdrawal Issues: Multiple users report difficulties withdrawing funds, with Coinstore allegedly imposing excuses or requiring additional deposits to release funds. For example, users on Trustpilot and Reviews.io describe being unable to withdraw USDT for weeks or months, with some labeling the platform as a “scam” due to these practices.
• Invasive KYC Practices: Several reviews highlight excessive and privacy-invasive Know Your Customer (KYC) demands, including requests for detailed transactional and employment information. Users claim these requirements are used to delay or block withdrawals.
• Partnership with Scam Entities: Coinstore has been criticized for its association with Quopi AI, a company accused of running off with investors’ funds. Users allege Coinstore promoted Quopi AI, leading to significant financial losses, and some suspect Coinstore may be complicit in these schemes.
• Fraudulent Trading Practices: Complaints include fake trading activity, manipulated prices, and high slippage (e.g., 20% on stablecoin trades like XSGD to USDT). Users report that displayed profits cannot be withdrawn, suggesting potential market manipulation.
• Poor Customer Support: Many users describe Coinstore’s customer service as unresponsive or unhelpful, with support tickets ignored or met with vague responses.
• Threats and Harassment: A few extreme cases mention harassment, including threats from individuals claiming to represent Coinstore, such as one user reporting threats of a “hitman” after attempting to withdraw funds. However, some positive reviews exist, praising Coinstore’s user-friendly interface, smooth KYC process, and diverse token offerings. These reviews, often found on Trustpilot and Coinstore’s own channels, contrast sharply with the negative feedback, raising suspicions of potential review manipulation. Assessment: The volume and consistency of complaints about withdrawals, KYC, and partnerships with dubious entities suggest significant operational issues. The positive reviews, while present, are overshadowed by detailed negative experiences, indicating a high likelihood of problematic practices.

2. Risk Level Assessment ¶

Based on user feedback and external analyses, Coinstore presents a high-risk profile for the following reasons:

• Scam Allegations: Platforms like ScamAdviser and Scam Detector assign Coinstore a medium-risk trust score (e.g., 64.3/100 by Scam Detector), but user reviews and scam reports push the perceived risk higher. ScamAdviser notes a low average review score (1.6 stars from 220 reviews), with many users labeling it a scam.
• High-Risk Investment Warnings: Trustpilot and other platforms flag Coinstore as associated with high-risk investments, with warnings about potential fund loss.
• Lack of Transparency: Users report Coinstore’s refusal to provide company details (e.g., name, country, address), which heightens risk as it obscures accountability.
• Association with Fraudulent Entities: The partnership with Quopi AI and other “rug pull” projects increases the risk of financial loss, as Coinstore may either be complicit or negligent in vetting partners.
• Operational Red Flags: Complaints about fake trading, delisting coins without reason, and demanding additional payments for withdrawals indicate predatory practices. Assessment: Coinstore’s risk level is high due to consistent user complaints, lack of transparency, and associations with scams. While some sources (e.g., EvenInsight) give it a high safety score (100/100), these are based on technical metrics rather than user experience, making them less reliable in this context.

3. Website Security Tools ¶

Coinstore’s website security appears robust on a technical level, but user experiences suggest operational vulnerabilities:

• SSL Certificate: The website uses a valid SSL certificate issued by GoDaddy.com, Inc., ensuring encrypted connections.
• Server Security: Coinstore claims to implement “bank-level” security measures, including a comprehensive risk control system and real-time reconciliation. CoinGecko notes a robust server architecture for efficient transactions.
• HackenProof Bug Bounty: Coinstore participates in a private bug bounty program with HackenProof, offering up to $10,000 for vulnerabilities, indicating proactive security efforts. However, vulnerabilities must be reported within 24 hours, and public disclosure is restricted, which limits transparency.
• Email Safety: Verifymail.io deems coinstore.com a safe domain for email communication, with no indication of it being a disposable or temporary provider. Concerns:
• Despite technical security, user reports of funds being “sequestered” or accounts showing manipulated balances suggest potential back-end vulnerabilities or intentional misconduct.
• The restrictive bug bounty terms may deter ethical hackers from thoroughly auditing the platform, potentially leaving undisclosed vulnerabilities. Assessment: Coinstore’s website has strong technical security features (SSL, bug bounty, server architecture), but operational practices undermine trust. Security tools are only as effective as the integrity of the platform’s management.

4. WHOIS Lookup ¶

The WHOIS data for coinstore.com provides some insight into its registration but also raises concerns about transparency:

• Domain Name: coinstore.com
• Registrar: GoDaddy.com, LLC
• Registration Date: April 29, 2002
• Updated Date: February 26, 2021
• Expiry Date: April 29, 2026
• Registrant: DomainsByProxy.com (proxy service hiding owner details)
• Name Servers: AWS-based (NS-1110.AWSDNS-10.ORG, NS-1600.AWSDNS-08.CO.UK, etc.)
• DNSSEC: Unsigned Analysis:
• The domain’s age (registered in 2002) suggests longevity, which is often a positive indicator. However, the use of DomainsByProxy.com obscures the registrant’s identity, reducing transparency.
• The AWS name servers indicate hosting on a reputable cloud provider, but this does not address operational trustworthiness.
• The lack of DNSSEC may slightly increase the risk of DNS-related attacks, though this is a minor concern compared to operational issues. Assessment: The WHOIS data confirms the domain’s legitimacy and long history, but the use of a proxy service aligns with user complaints about Coinstore’s lack of transparency regarding company details.

5. IP and Hosting Analysis ¶

Coinstore’s hosting setup provides technical reliability but does not mitigate operational risks:

• IP Address: 54.92.119.95 (located in Seattle, USA)
• Hosting Provider: Amazon Web Services (AWS)
• Server Location: Seattle, United States Analysis:
• AWS is a reputable hosting provider known for reliability and scalability, supporting Coinstore’s claim of a robust server architecture.
• The US-based server location contrasts with Coinstore’s registration in Singapore, which may complicate jurisdictional accountability for users in other regions.
• No reports indicate malware or phishing directly tied to the IP, aligning with ScamAdviser’s assessment that the website is not listed on phishing/spam directories. Assessment: The hosting setup is technically sound, leveraging AWS’s infrastructure. However, hosting reliability does not address user complaints about fund access or fraudulent practices, which are the primary risks.

6. Social Media Presence ¶

Coinstore maintains an active social media presence, but its credibility is mixed:

• Platforms:
• Twitter/X: @CoinstoreExc (https://x.com/CoinstoreExc)
• Facebook: https://www.facebook.com/CoinstoreExc
• Instagram: https://www.instagram.com/coinstoreexc/
• TikTok: @coinstoreexchange
• LinkedIn: https://www.linkedin.com/company/coinstore
• Telegram: https://t.me/coinstore_english
• Activity: Coinstore regularly posts about trading promotions, new listings, and educational content. The Telegram channel and Twitter/X account are particularly active, with thousands of followers.
• Red Flags:
• Quopi AI Promotion: Social media posts historically promoted partnerships with Quopi AI, now widely regarded as a scam. This has damaged Coinstore’s reputation, with users on Trustpilot and Scam Detector accusing Coinstore of complicity.
• Inconsistent Engagement: While Coinstore responds to some user queries on social media, complaints about withdrawals or KYC issues are often ignored or met with generic responses, mirroring poor customer service reports.
• Promotional Tactics: Offers of “no-deposit bonuses” or promo codes that require deposits to activate have been flagged as deceptive, with Google Play reviews criticizing these as bait-and-switch tactics. Assessment: Coinstore’s social media presence is professional and active, but its promotion of questionable partners and failure to address serious user complaints undermine credibility. The deceptive bonus offers align with scam tactics noted in reviews.

7. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

• Regulatory Non-Compliance: The UK’s Financial Conduct Authority (FCA) explicitly states that Coinstore (COINSTORE PTE. LTD.) is not authorized or registered, warning users to avoid it due to potential scams. This lack of regulation leaves users without recourse to ombudsman services or compensation schemes.
• Partnerships with Scams: The Quopi AI debacle is a major red flag, with users alleging Coinstore knowingly promoted a fraudulent entity, leading to millions in losses.
• Withdrawal Delays and Denials: Consistent reports of blocked withdrawals, often requiring additional deposits, are classic scam tactics.
• Invasive KYC: Excessive KYC demands, including employment and transactional data, suggest potential data harvesting or stalling tactics to prevent withdrawals.
• Lack of Company Transparency: Coinstore’s refusal to disclose its legal name, address, or country of operation when asked by users indicates a deliberate effort to avoid accountability.
• Fake Trading Activity: Allegations of manipulated balances and fake trading volumes suggest Coinstore may not operate a legitimate exchange, potentially misrepresenting user funds.
• High Fees and Slippage: Complaints about high fees, high transfer rates, and significant slippage (e.g., 20% on stablecoin trades) indicate predatory pricing.
• Association with High-Risk Jurisdictions: While registered in Singapore, Coinstore operates as a Private Exempt Company (Vortexia PTE Ltd.), which allows it to evade certain transparency and regulatory requirements. This structure is flagged as a risk by users and reviewers. Assessment: The red flags are numerous and severe, pointing to systemic issues in Coinstore’s operations. The FCA warning, scam partnerships, and transparency issues are particularly damning.

8. Website Content Analysis ¶

Coinstore’s website (https://www.coinstore.com/#/) presents itself as a professional cryptocurrency exchange, but certain elements raise concerns:

• Claims of Excellence: The site touts awards like “Best Exchange in Asia” by Crypto 306 and “Best Rising Star” from Crypto Expo, but these are not widely recognized in the crypto industry, suggesting possible self-promotion or paid accolades.
• Focus on Emerging Markets: Coinstore emphasizes serving “emerging high-growth markets” and has a presence in 175 countries with 8.1 million users. While this suggests scale, it also aligns with targeting less-regulated regions where users may have fewer protections.
• Promotional Offers: The site advertises bonuses and affiliate programs with “high commissions,” which align with user complaints about deceptive promotions requiring deposits to unlock.
• Security Claims: Coinstore highlights “bank-level” security and a “Security Encrypted Launchpad” to prevent fraud. However, user experiences of fund sequestration contradict these claims.
• Lack of Legal Information: The website does not prominently display legal documents, company registration details, or regulatory licenses, which is unusual for a legitimate exchange. Scamcheck24 notes the absence of legal documents as a red flag. Assessment: The website is professionally designed and makes bold claims about security and market presence, but the lack of verifiable legal information and alignment with deceptive promotional tactics raise doubts about its legitimacy.

9. Regulatory Status ¶

Coinstore’s regulatory status is a significant concern:

• Unregulated by FCA: The UK’s Financial Conduct Authority explicitly warns that Coinstore is not authorized or registered, advising users to avoid it due to scam risks. This means UK users have no access to the Financial Ombudsman Service or Financial Services Compensation Scheme.
• Singapore Exemption: Coinstore operates as Vortexia PTE Ltd., a Private Exempt Company in Singapore. This structure allows it to operate in a regulatory gray area, as noted by users who filed complaints with the Monetary Authority of Singapore (MAS) but received no recourse.
• Offshore Registration Concerns: Scamcheck24 flags Coinstore’s offshore registration as a risk, noting that unregulated brokers in such jurisdictions often lack accountability.
• No Major Regulatory Oversight: Unlike reputable exchanges (e.g., Binance, Coinbase), Coinstore lacks oversight from major financial regulators like the SEC (USA), FCA (UK), or ASIC (Australia), increasing risk for users globally. Assessment: Coinstore’s lack of regulatory oversight, combined with its FCA warning and exempt status in Singapore, makes it a high-risk platform. Users have little to no legal protection in disputes.

10. User Precautions ¶

To mitigate risks when considering Coinstore, users should take the following precautions:

• Avoid Depositing Large Sums: Given reports of withdrawal issues, deposit only what you can afford to lose, if at all.
• Verify Regulatory Status: Check Coinstore’s regulatory status in your jurisdiction. Avoid unregulated platforms, especially those flagged by authorities like the FCA.
• Research Partnerships: Investigate Coinstore’s partners (e.g., Quopi AI) before engaging. Avoid platforms associated with known scams.
• Test Withdrawals Early: Make a small deposit and attempt to withdraw to test the platform’s reliability before committing significant funds.
• Protect Personal Data: Be cautious with KYC submissions, as excessive demands may indicate data harvesting. Use platforms with clear privacy policies.
• Use Reputable Exchanges: Consider established exchanges like Coinbase, Binance, or Kraken, which have stronger regulatory compliance and user protections.
• Report Issues: If you encounter problems, report to authorities like the Federal Trade Commission (USA) or equivalent in your country, and share experiences on platforms like Trustpilot to warn others.
• Install Security Tools: Use browser extensions like Guardio to block potentially harmful websites and protect against phishing attempts. Assessment: Users must exercise extreme caution with Coinstore, prioritizing small test transactions, regulatory verification, and data protection to minimize financial and privacy risks.

11. Potential Brand Confusion ¶

Coinstore’s branding and domain may cause confusion with other platforms, potentially exploited for malicious purposes:

• Similar Domains:
• Coinlore.com: A user on Trustpilot suggested Coinstore might be an imposter to Coinlore, citing identical scam scenarios (e.g., involving a “woman and her uncle”). This raises the possibility of deliberate brand mimicry.
• Coin-rely.com: Flagged as a suspicious website by Gridinsoft, this domain could be confused with Coinstore due to similar naming conventions. Its recent registration (1 month ago) and lack of reviews suggest it may be a scam leveraging Coinstore’s brand.
• Coinnm.com: ScamAdviser rates this domain as likely legit, but its similarity to Coinstore could confuse users, especially given Coinstore’s own questionable reputation.
• Generic Crypto Branding: The name “Coinstore” is generic, resembling other crypto platforms (e.g., Coinbase, CoinMarketCap), which may lead users to mistakenly trust it based on familiarity with reputable brands.
• Scammer Exploitation: Reviews mention scammers promoting Coinstore with fake promo codes or bonuses, potentially using similar-sounding brands to lure victims. Assessment: Coinstore’s generic name and reported similarities to other platforms (e.g., Coinlore) increase the risk of brand confusion, which scammers may exploit. Users should verify the exact domain (https://www.coinstore.com) and be wary of lookalike sites.

12. Critical Evaluation ¶

While Coinstore presents itself as a leading crypto exchange with technical strengths (e.g., AWS hosting, SSL, bug bounty), the overwhelming user complaints, regulatory warnings, and associations with scams like Quopi AI paint a troubling picture. The positive reviews and awards cited by Coinstore lack credibility when weighed against detailed allegations of withdrawal denials, fake trading, and invasive KYC practices. The FCA’s explicit warning and Coinstore’s exempt status in Singapore further erode trust, as users have little legal recourse. The contrast between technical security and operational misconduct suggests Coinstore may prioritize appearances over integrity. Potential Counterarguments:

• Coinstore’s long domain history (since 2002) and large user base (8.1 million) suggest some level of legitimacy.
• Positive reviews highlight a user-friendly platform and diverse tokens, indicating it may serve some users effectively.
• Technical security measures align with industry standards, and the bug bounty program shows proactive efforts to address vulnerabilities. However, these points are overshadowed by systemic issues: the FCA warning, scam partnerships, and consistent withdrawal complaints indicate a pattern of predatory behavior. The positive reviews may reflect selective experiences or manipulation, as they lack the specificity of negative feedback.

13. Conclusion ¶

Overall Risk Level: High Coinstore (https://www.coinstore.com/#/) exhibits significant red flags, including unregulated status, withdrawal issues, invasive KYC, and partnerships with scam entities like Quopi AI. The FCA’s warning, lack of transparency, and user reports of fake trading and harassment confirm its high-risk profile. While technical security is adequate, operational practices undermine trust, making Coinstore a risky choice for crypto trading. Recommendations:

• Avoid Using Coinstore: Opt for regulated exchanges with proven track records (e.g., Coinbase, Binance).
• Exercise Caution: If you must use Coinstore, deposit minimal funds, test withdrawals immediately, and avoid sharing excessive personal data.
• Report Issues: Document and report any problems to regulatory authorities and review platforms to protect others.
• Verify Domains: Ensure you’re on the correct website (https://www.coinstore.com) to avoid phishing or lookalike sites. Users should approach Coinstore with extreme skepticism, prioritizing platforms with regulatory oversight and transparent operations to safeguard their funds and data.

Note: This analysis is based on information available as of April 21, 2025, and reflects user feedback, regulatory warnings, and technical data. Always conduct your own research before engaging with any crypto platform. If you have specific experiences or additional details about Coinstore, sharing them could further refine this assessment.