<p><span style="font-weight: 400;">Cryptocurrency exchange COBINHOOD has announced that it will temporarily shut down its platform between Jan. 10 and Feb. 9. in order to audit users’ account information. </span></p> <p><span style="font-weight: 400;">“COBINHOOD Exchange is auditing all accounts' balances and migrating all data from Jan. 10 to Feb. 9 in 2020,” the notice read. “It will be reopened on Feb. 10, 2020. All COBINHOOD users can then retrieve their funds accordingly.”</span></p> <p><span style="font-weight: 400;">“Meanwhile, please DO NOT make any deposits,” the notice warned. “It may result in permanent loss.”</span></p> <p><span style="font-weight: 400;">Founded in 2017, the exchange raised $10 million in an ICO, buoyyed by an </span><a href="https://twitter.com/iamjamiefoxx/status/909864791249846277?lang=en"><span style="font-weight: 400;">endorsement</span></a><span style="font-weight: 400;"> from actor Jamie Foxx.</span></p> <p><span style="font-weight: 400;">Yet in September of that year, zero-fee trading exchange Robinhood </span><a href="https://www.axios.com/robinhood-stock-app-sends-cease-and-desist-to-crypto-upstart-1513305691-59b326e1-b627-4950-969f-77cbe8e56609.html"><span style="font-weight: 400;">issued</span></a><span style="font-weight: 400;"> a cease and desist letter to COBINHOOD for allegedly confusing users with a similar brand name and color scheme. </span></p> <p><span style="font-weight: 400;">Last May, COBINHOOD </span><a href="https://www.theblockcrypto.com/linked/22178/crypto-exchange-cobinhood-parts-ways-with-co-founder-and-ceo-citing-his-emotional-instability"><span style="font-weight: 400;">announced</span></a><span style="font-weight: 400;"> that its co-founder and CEO, Tai-yuan Chen, had left the firm since his “emotional instability and personal behaviors have caused safety concerns of all employees.”</span></p>