Cryptocurrency Exchange leaves Users and Authorities in the Dark

Canadian company Einstein Exchange has yet to make contact with authorities regarding money owed to its clients

Cryptocurrency exchange website Einstein Exchange, based in Vanvouver, Canada has gone dark, leaving customers and authorities unable to communicate with the company. The company allegedly owes users over $16 million in Canadian dollars (USD$12.1 million). In light of this recent move by Einstein, finance regulators from British Colombia are planning to take legal action.
 
The online finance exchange apparently was unprofitable. After a failed attempt to sell itself to another investor, Einstein Exchange said that it would shut down in two month's time. However, the offices closed down within only one month, concerning authorities and investors alike. 
 
 
 Einstein Exchange's app on the Google Play store, reviewed at only 2 stars (photo courtesy of Google Play). 
 
Finance regulators in Canada have received numerous complaints that customers are unable to retrieve funds from their accounts. However, Einstein had notified the British Colombia Securities Comission (BCSC) that they had enough cryptoassepts to fulfill withdraw requests. No reason has been given by the exchange for why customers cannot withdraw funds. 
 
It may initally seem as though Einstein Exchange shut down because of its lack of profit and mishandling of user funds. However, the company has been under scrutiny since early 2019 for possible money laundering. This raises concerns that the issue could go deeper than most of the public really knows.