PANews reported on August 22nd that, according to official information from the cryptocurrency exchange CoinW, in response to recent media reports of fraud allegations stemming from its virtual asset management platform, CoinW issued a statement emphasizing its commitment to protecting user rights and maintaining market order. The statement also stated that CoinW has launched a special investigation and is in communication with relevant authorities. CoinW stated that it has a "zero tolerance" policy for illegal activities and will handle any violations in accordance with the law and provide timely disclosure.

CoinW is committed to continuously iterating its integrated compliance system, including KYC/AML/CFT systems, fund flow monitoring, and a dedicated anti-fraud team. Users are reminded to be wary of fake information and report any suspicious activity through official channels. For suspected illegal activity, the platform will freeze the relevant accounts and cooperate with the investigation. Those who maliciously spread false information will be held accountable. CoinW will continue to publish updates on its investigation progress.