CoinAll is a cryptoasset exchange located in Hong Kong. Their volume over the last 12 months is $248.63B. The exchange is rated “C” which means “Fair.” They are a crypto-only exchange.
CoinAll is one of those exchanges that do not consider it necessary to provide detailed information about their background, founding date, team, and other relevant points that investors usually consider to make an informed choice. CoinAll’s “Terms of Service” page states that the business provides “an online digital asset trading platform to trade spot and other derivatives of digital assets (or also known as cryptographic tokens or digital tokens or cryptographic currency) and facilitate margin lending.” Few lines below, it becomes clear that the exchange is run by the COINALL Malta Technology Company Limited. The Twitter profile and the LinkedIn page of the exchange state that it is based in Hong Kong. According to the information there, the platform was launched at the start of 2019. This, however, contradicts with other information from external sources, such as CoinAll’s profiles in cryptocurrency exchange data platforms, pointing out that it was launched in July or August 2018. Others even date the exchange back to 2014. That is why it is hard to confirm the official date when CoinAll was launched.
When it comes to the team behind the project, it is worth noting that, at the time of this writing, the only public piece of information about the members of the exchange is the associated profiles within its LinkedIn page. Most of them are profiles of employees at a so-called “Listing Manager” or “Listing Coordinator” position. There is also the profile of Katherine Deng, listed as a “General Manager” at CoinAll. Her background also includes a “BD Project Manager” position at KuCoin. Another member is Diana Lee, who is listed as COO of CoinAll. However, her profile has only 42 connections and no experience prior to her position at the exchange. The exchange’s LinkedIn page states that it has a team of 51 – 200 members.
More in-depth research within external sources reveals that CoinAll is the first of the 100 partner exchanges launched on the OkEx Open Partnership Program. The link between both trading platforms is confirmed by CoinAll’s email for contact, which is similar to the one of the OkEx exchange - support@OKEx.com. Both trading venues even have the same website interface, with OkEx being the primary one. On its main page, CoinAll states that it benefits from shared liquidity with OKEx.
When it comes to customer support, CoinAll states that it offers “Global customer support.” However, the only available channels for communication are email and WeChat. Although some reviews point out that CoinAll provides 24/7 support, it is hard to believe that this is the case as many users report for delayed or lack of responses from the support representatives.
CoinAll is described as “the world’s first community-based autonomous exchange.” The exchange’s team claims that it is committed to building “a fully transparent, community-run exchange platform.” However, with the lack of public information, it is hard to accept such claims.
When it comes to the platform’s security, the only available information relates to ensuring the protection of users’ data. CoinAll states that it takes various measures to ensure information security, such as communication SSL-encryption and two-factor authentication for all sessions. However, there is no mention of the platform’s security mechanisms and how it prevents potential malicious attempts or hacker attacks.
At the time of this writing, there are no reported cases for hacks or government investigations against CoinAll. What is worth bearing in mind, however, is that CoinAll shares the same platform features with OkEx. In 2017, OkEx was attacked and lost $3 million worth of Bitcoins which were never restored. The attack was designed as a simultaneous breach in several users’ profiles and immediate withdrawal of all Bitcoins stored there. OkEx denied the allegations for being hacked and blamed the thefts on users’ weak account security measures.Read More