Angle Protocol Goes Public After Coinstore Fails to Return $80k Loan
Angle Protocol Goes Public After Coinstore Fails to Return $80k Loan
馃捀 Coinstore Ghosted Protocol
Angle Protocol publicly accused Coinstore exchange of failing to return an $80,000 loan made in October 2024.
The loan was provided to facilitate the listing of Angle's USDA and stUSD tokens on the exchange. Despite multiple attempts to recover the funds, Coinstore has not returned the money, citing operational issues with a market maker.
Key details:
- Loan amount: ~$80,000
- Purpose: Token listing for USDA & stUSD
- Coinstore's excuse: Market maker operational problems
- Angle's response: Public warning after repeated private attempts
Angle Protocol strongly advises against working with Coinstore for listings or trading, citing incompetence and unprofessionalism.
The protocol emphasized that user funds remain secure and the incident does not affect the safety of the Angle ecosystem.
In Oct 2024, Angle Protocol lent ~$80k to @CoinstoreExc for the listing of USDA & stUSD. Despite repeated attempts, the funds were never returned, with Coinstore alleging operational issues with one of their market makers. Due to @CoinstoreExc's incompetence and lack of
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