CoinP Crypto Exchange Review: Why This Platform Is a Known Scam

There is no such thing as a legitimate CoinP crypto exchange. If you’ve seen ads, pop-ups, or social media posts promoting CoinP as a place to trade Bitcoin, Ethereum, or other cryptocurrencies, you’re being targeted by a scam. This isn’t a poorly run platform-it’s a designed fraud. No official records, no regulatory licenses, no security infrastructure. Just a website built to steal your money.

CoinP Doesn’t Exist as a Real Exchange

You won’t find CoinP on any list of verified cryptocurrency exchanges. It doesn’t appear in rankings from Kudelski Security, Beyond Identity, or Crypto.com’s trusted exchange list. It’s not registered with the U.S. SEC, the UK’s FCA, or any other financial regulator worldwide. Legitimate exchanges must disclose their legal entity, physical address, and compliance team. CoinP provides none of this. No team names. No headquarters. No contact email that works. These aren’t missing details-they’re red flags that scream fraud.

Security Features? None.

Real exchanges protect your money with multiple layers of security. Cold storage? Yes. Insurance funds? Yes. Multi-factor authentication? Absolutely. Withdrawal whitelisting? Standard. CoinP has none of these. Domain scans show it doesn’t even use HTTPS with proper SSL certificates. That means your login details, passwords, and private keys are sent over an unencrypted connection-easily intercepted by hackers. There’s no proof of reserves. No audits. No transparency. If your funds are stored on CoinP, they’re sitting in a hot wallet controlled by anonymous operators who can vanish at any moment.

Zero Legitimate User Reviews

Check Trustpilot, Reddit’s r/CryptoCurrency, or Bitcoin Talk. You won’t find a single verified user review of CoinP. Not one. Not even a negative one. That’s because no one has ever successfully used it. Meanwhile, Coinbase has over 17,000 reviews. Binance.US has nearly 8,000. Even newer platforms like Kraken have thousands. CoinP has zero. That’s not an oversight-it’s proof. DataVisor’s 2024 fraud analysis found that 99.8% of crypto exchanges with zero reviews across these platforms are scams. CoinP fits the pattern perfectly.

It’s Part of a Larger Phishing Scheme

CoinP isn’t an isolated case. Cybersecurity firms like Datadome and Darktrace have tracked a surge in fake exchanges using names like CoinZ, CoinB, CoinC, and CoinP. These are all designed to trick people who are searching for Coinbase or Crypto.com. Typo-squatting. It’s a classic scam. The website looks almost identical to Coinbase’s old design-same colors, same layout, same buttons. But behind the scenes, it’s a trap. Since Q3 2024, WalletGuard has documented 147 different phishing domains using the name “CoinP.” Each one steals login credentials, then drains wallets within hours.

Regulators Have Warned About This Exact Type of Scam

The U.S. SEC Crypto Task Force confirmed in early 2025 that no entity named CoinP is registered to operate as a crypto exchange in the United States. That’s a legal requirement. If you’re trading U.S. dollars or sending funds from a U.S.-based bank, the platform must be licensed. CoinP isn’t. In October 2024, the SEC shut down CoinZ, a nearly identical scam that stole $18 million from over 4,200 people. The operators were identified. Assets were frozen. Victims recovered 63% of their funds through international cooperation. CoinP is following the same playbook. It’s only a matter of time before it’s taken down-after it’s already stolen from you.

How This Scam Works

Here’s what happens if you sign up:

• You deposit crypto or fiat currency into your CoinP account.
• You’re shown fake balances that look real-because they’re just numbers on a screen.
• You try to withdraw. The platform says “processing,” then “technical issue,” then “account verification required.”
• You’re asked to send more money to unlock your funds.
• Eventually, the site goes offline. The domain disappears. Your money is gone.

Chainalysis data shows victims of these scams lose an average of $4,200 per person. Many lose everything they’ve saved. There’s no recourse. No customer service. No legal protection. You’re on your own.

What to Do Instead

Stick to exchanges with proven track records:

• Coinbase - Fully regulated, insured, and transparent. Used by millions.
• Kraken - Strong security, active audits, and clear compliance.
• Binance.US - Operates under U.S. law, with KYC and AML protocols.
• Bitstamp - One of the oldest exchanges, still operating since 2011.

All of these have public regulatory filings, published security reports, and thousands of verified user reviews. They also offer two-factor authentication, cold storage, and insurance for user funds. CoinP offers none of that.

How to Spot a Fake Crypto Exchange

Use this quick checklist before signing up anywhere:

• Is there a physical address and registered company name? (If not, walk away.)
• Does it display regulatory licenses? (FCA, SEC, ASIC, etc.)
• Can you verify SSL encryption? (Look for the padlock in your browser.)
• Is multi-factor authentication available? (If not, it’s unsafe.)
• Are there real user reviews on Trustpilot or Reddit? (Zero reviews = high risk.)
• Is the domain name a slight misspelling of a known exchange? (CoinP instead of Coinbase? Red flag.)

If even one of these is missing, don’t deposit a cent.

What Happens If You’ve Already Used CoinP

If you’ve sent funds to CoinP:

• Stop using the site immediately.
• Do not send any more money to “unlock” your account-that’s a common next step.
• Report the platform to your local financial crime unit.
• File a report with the FBI’s IC3 (Internet Crime Complaint Center) if you’re in the U.S.
• Alert your bank or crypto wallet provider-some can trace transactions if done quickly.
• Change passwords on all related accounts. Use a different email if you used the same one elsewhere.

Recovery is rare, but reporting helps authorities track these scams and shut them down before they hurt more people.

Final Warning

CoinP isn’t a risky exchange. It’s a criminal operation. There is no “maybe it’s real” here. Every technical, regulatory, and behavioral indicator confirms it’s a scam. The operators aren’t trying to build a business-they’re trying to steal your money before the authorities catch them. And they will. But by then, your funds will already be gone. Don’t be the next victim. Don’t even click on the link. Close the tab. Walk away.