The Cobinhood exchange, a staple of up-and-coming coin and token projects, has announced a sudden down period to audit its balances.

Audit Suddenly Announced for a One-Month Period
Cobinhood, one of the last exchanges to support multiple altcoins, has turned up with a worrying message. The market stated it is closing for an audit – but such news, coming on the tail of other exchange closings, are taken as a negative sign.

COBINHOOD Exchange is shutting down and auditing all accounts’ balances from Jan 10 to Feb 9 in 2020. It will be re-opened on Feb 10, 2020. All COBINHOOD users can then retrieve their funds accordingly. Please DO NOT make any deposits; it may result in permanent loss.
— COBINHOOD (@COBINHOOD) January 10, 2020

The exchange itself has promised to reopen within days. But the news of the audit arrives just months after Cobinhood received a scare about an exit scam, as it lost track of its CEO Popo Chen. Since then, the exchange continued to operate, though not on the brightest reputation.
While the exchange survived…

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Source: https://thebitcoinnews.com/just-in-cobinhood-exchange-shuts-down-for-audit/