Below is a detailed analysis of Coinome Exchange based on the requested criteria. Note that Coinome ceased operations in May 2019, which significantly impacts the relevance of some aspects of this analysis. However, I will provide a comprehensive evaluation using available information and address each point systematically.

1. Background Information ¶

• Official Website: https://www.coinome.com/
• Status: Coinome, an Indian cryptocurrency exchange, halted operations on May 15, 2019, citing regulatory difficulties in India.
• Ownership: Operated by Hatio Innovations Private Limited, backed by Billdesk, a prominent Indian payment gateway supervised by the Reserve Bank of India (RBI).
• Services: Facilitated trading of cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Dash, with a maker-taker model (0.1% maker fee, 0.3% taker fee).
• Launch: Soft launch in October 2017, official launch in November 2017.

2. Online Complaint Information ¶

• Sources: Limited user complaints are available, primarily from 2017–2019, when Coinome was operational.
• Key Complaints:
• Delayed Refunds: Users reported issues with deposits not reflecting in their Coinome wallets and delays in refund processing (e.g., one user mentioned a INR 10,000 deposit not refunded after four days).
• Poor Customer Service: Multiple users described unresponsive customer support, with emails ignored and accounts allegedly blocked when users followed up.
• Suspected Fraud: Some users labeled Coinome a “scam company,” claiming funds (e.g., INR 60,000) were stuck without resolution.
• Withdrawal Issues: Post-closure announcement, users reported technical difficulties withdrawing Bitcoin Cash (BCH) and Bitcoin SV (BSV).
• Analysis: Complaints suggest operational inefficiencies and poor customer service, particularly toward the end of Coinome’s operations. The closure announcement and regulatory pressures may have exacerbated these issues, as the exchange struggled to process withdrawals. However, there’s no conclusive evidence of intentional fraud, and some complaints may reflect the chaotic regulatory environment in India at the time.

3. Risk Level Assessment ¶

• Operational Risk: High, as Coinome is no longer operational. Any attempt to interact with the website or related services poses significant risk due to its defunct status.
• Financial Risk: High for users with funds still tied to the platform at closure. Cryptocurrency trading inherently carries volatility risks, as noted in Coinome’s Terms and Conditions, which warned users of potential losses and the lack of legal recognition for cryptocurrencies in India.
• Regulatory Risk: Very high. The RBI’s 2018 ban on banks dealing with crypto businesses crippled Coinome’s operations, leading to its closure. India’s uncertain crypto regulatory landscape, including rumors of a potential outright ban in 2019, added to the risk.
• Security Risk: Moderate to high during operation, given reported withdrawal issues and the lack of guaranteed security (no method of transmission is 100% secure, as per Coinome’s Privacy Policy).
• Current Risk (2025): Extreme, as the exchange is defunct, and any interaction with lingering services or domains could expose users to scams or phishing.

4. Website Security Tools ¶

• SSL Certificate:
• As of November 2019, Coinome’s SSL certificate (issued by Sectigo Limited) was expired (expired June 28, 2020).
• An expired SSL certificate indicates a lack of maintenance, increasing risks of data interception if the site is still accessible.
• Security Features (During Operation):
• Coinome claimed to use “reasonable security practices” under India’s Information Technology Act, with a Privacy Policy outlining data protection measures.
• No mention of two-factor authentication (2FA) or cold storage for funds, which are standard for reputable exchanges.
• The Privacy Policy disclaimed liability for security breaches, stating no transmission method is 100% secure.
• Current Status: The website (https://www.coinome.com/) may still resolve but is likely inactive or minimally maintained. Lack of active security updates and expired SSL certificates render it unsafe for use.

5. WHOIS Lookup ¶

• Domain: coinome.com
• Registrar: Name.com, Inc.
• Creation Date: July 5, 2016
• Expiry Date: July 5, 2021 (last known, likely expired or renewed privately since).
• Registrant: Domain Protection Services, Inc. (privacy protection service), hiding the true owner’s identity. Contact details include a Denver, CO address and phone numbers (+1.7208009072).
• Name Servers: AWS-based (ns-1130.awsdns-13.org, ns-289.awsdns-36.com, etc.), indicating hosting on Amazon Web Services (AWS).
• Analysis: The use of a privacy protection service is common but reduces transparency. The domain’s last known expiry in 2021 and lack of recent WHOIS updates suggest it may no longer be actively managed, increasing risks of domain squatting or phishing if reactivated.

6. IP and Hosting Analysis ¶

• Hosting Provider: Amazon.com, Inc. (AMAZON-02, AS16509).
• Server Location: United States (based on Amazon’s infrastructure).
• IP Resolution: As of April 2023, the server IP did not resolve, indicating the website may be offline or minimally functional.
• Analysis:
• Hosting on AWS is reputable and suggests robust infrastructure during Coinome’s operation.
• The lack of IP resolution in 2023 aligns with the exchange’s closure and indicates no active hosting, reducing the risk of malicious activity from the original domain but increasing the risk of phishing if the domain is repurposed.

7. Social Media Presence ¶

• Facebook: Coinome had a Facebook page with 1,735 likes, posting updates about its services.
• Twitter: Joined in 2017, with posts including videos and photos about the exchange.
• Current Status: Social media accounts are likely inactive post-2019, as no updates are mentioned after the closure announcement. Inactive accounts could be hijacked or impersonated, posing risks of scams.
• Analysis: Limited social media activity and lack of engagement post-closure reduce the reliability of these channels for verification. Users should avoid interacting with any accounts claiming to represent Coinome without thorough verification.

8. Red Flags and Potential Risk Indicators ¶

• Closure and Regulatory Issues:
• Coinome’s abrupt suspension of services in May 2019 due to RBI’s banking restrictions is a major red flag.
• The lack of clarity on whether the suspension was permanent or temporary confused users, and reported withdrawal issues post-announcement suggest operational mismanagement.
• Customer Complaints:
• Allegations of unprocessed refunds, stuck funds, and unresponsive support indicate poor operational integrity toward the end.
• Lack of Regulatory Approval:
• Coinome explicitly stated that cryptocurrencies were not recognized as legal tender in India, and the RBI issued multiple warnings (2013, 2017) about risks.
• No evidence of licensing or authorization from the RBI or other regulators.
• Security Concerns:
• Expired SSL certificate and lack of documented 2FA or cold storage raise doubts about security robustness.
• The Privacy Policy’s disclaimer on security breaches suggests limited accountability.
• Domain and Transparency:
• Hidden WHOIS data via privacy protection reduces trust.
• Potential for domain misuse post-expiry (e.g., phishing or fake relaunches).
• Unrealistic Promises:
• While Coinome’s marketing did not heavily emphasize guaranteed returns, its low trading fees (0.1%–0.3%) and 24/7 availability may have attracted inexperienced users unaware of regulatory risks.

9. Website Content Analysis ¶

• Content Overview (Based on Archived Data):
• Promoted buying/selling of BTC, ETH, LTC, XRP, and Dash with low fees and 24/7 trading.
• Highlighted instant e-KYC using Aadhaar for onboarding, a feature unique at the time.
• Included Terms and Conditions warning of cryptocurrency volatility and regulatory risks.
• Privacy Policy outlined data protection but disclaimed liability for breaches.
• Red Flags in Content:
• Heavy emphasis on ease of use (e.g., instant deposits, low fees) without equally prominent risk disclosures could mislead novice users.
• Lack of transparency about team, physical address, or detailed security protocols.
• Current Website Status: Likely offline or minimally functional, with no new content post-2019. Any active content should be treated with suspicion due to the exchange’s closure.

10. Regulatory Status ¶

• India’s Crypto Regulation:
• Cryptocurrencies were not recognized as legal tender or commodities in India during Coinome’s operation.
• The RBI issued warnings in 2013, 2017, and 2017, highlighting economic, legal, and security risks.
• In 2018, the RBI banned banks from servicing crypto businesses, severely impacting exchanges like Coinome.
• By 2019, rumors of a complete crypto ban surfaced, though not confirmed.
• Coinome’s Status:
• No RBI license or authorization to operate as a crypto exchange.
• Backed by Billdesk, which is RBI-supervised, but this did not extend to Coinome’s crypto operations.
• Analysis: Coinome operated in a regulatory gray zone, and the RBI’s banking ban directly led to its closure. The lack of formal regulatory approval and ongoing legal battles in India (e.g., Supreme Court hearings) made it a high-risk platform.

11. User Precautions ¶

• Avoid Interaction: Do not attempt to access or use https://www.coinome.com/ or related services, as the exchange is defunct, and the domain may be repurposed for malicious purposes.
• Verify Domains: Be cautious of similar domains (e.g., coinnm.com, coin-rely.com) that may exploit brand confusion. Always verify the exact URL (https://www.coinome.com/).
• Check Regulatory Status: Use only exchanges regulated in your jurisdiction with clear licensing (e.g., comply with AML/KYC laws).
• Secure Wallets: Transfer any crypto assets to a personal, non-custodial wallet (e.g., Ledger Nano X, Trezor) rather than relying on exchange wallets.
• Research Reviews: Check platforms like Trustpilot, Reddit, or X for user feedback before using any exchange.
• Enable 2FA: Ensure any active exchange you use supports 2FA and cold storage.
• Beware of Phishing: Avoid clicking links or sharing personal data with unverified sources claiming to be Coinome, especially via email or social media.

12. Potential Brand Confusion ¶

• Similar Domains:
• coinnm.com: Rated as likely legit by Scamadviser but unrelated to Coinome. Users might confuse it due to the similar name.
• coin-rely.com: Flagged as suspicious by Gridinsoft, registered recently (2024) with hidden ownership, indicating potential scam risk.
• coinme.com: A US-based crypto exchange with Bitcoin ATMs, unrelated to Coinome but often confused due to name similarity. Coinme is operational and has mixed reviews (e.g., Trustpilot score with 1,068 reviews, some citing fees or service issues).
• Risks:
• Scammers may exploit Coinome’s defunct status by creating fake websites or social media accounts mimicking its branding.
• Users searching for Coinome might land on unrelated or fraudulent platforms like coin-rely.com, risking data theft or financial loss.
• Mitigation:
• Verify the exact domain (coinome.com) and avoid variations.
• Cross-check with official sources (e.g., Billdesk or archived Coinome announcements) before engaging with any platform claiming to be Coinome.

13. Critical Examination ¶

• Establishment Narrative: Coinome positioned itself as a secure, user-friendly exchange backed by Billdesk, leveraging India’s growing crypto interest in 2017–2018. However, its reliance on an unstable regulatory environment and lack of robust security disclosures (e.g., no 2FA mention) undermined its credibility.
• Skeptical View: The closure due to “regulatory difficulties” may mask operational or financial mismanagement, as user complaints about stuck funds and poor support predate the RBI’s ban. The lack of transparency about its team and post-closure plans further questions its legitimacy.
• Counterpoint: Billdesk’s involvement and initial e-KYC innovation suggest Coinome had legitimate intentions but was overwhelmed by India’s hostile crypto policies. The RBI’s banking ban was a death knell for many Indian exchanges, not just Coinome (e.g., Coindelta also shut down).

14. Conclusion ¶

Coinome Exchange is no longer operational, having ceased services in May 2019 due to regulatory pressures in India. Its historical analysis reveals significant risks:

• High Risk: Defunct status, unresolved user complaints, and regulatory uncertainty make it unsuitable for use.
• Security Concerns: Expired SSL, lack of documented 2FA, and disclaimer-heavy policies indicate weak protections.
• Red Flags: Poor customer service, withdrawal issues, and hidden WHOIS data reduce trust.
• Brand Confusion: Similar domains (e.g., coinme.com, coin-rely.com) pose risks of phishing or scams. Recommendation: Avoid any interaction with Coinome or its domain. For crypto trading, choose regulated exchanges with transparent security practices, active customer support, and compliance with local laws (e.g., Binance, Coinbase, or Kraken, depending on your region). Always verify domains, enable 2FA, and use non-custodial wallets for asset security. If you need further analysis or assistance with alternative exchanges, let me know!