Cryptocurrency App Users in UK Unable to Withdraw Funds, Fear Losing Thousands
• Users of cryptocurrency app Coscoin unable to withdraw funds, fear losing thousands of pounds • BBC Radio Newcastle spoken to users like Nik Pearce who promoted app to friends and family, now feel responsible • App promoted way to "quantize" investments to double users' money; worked initially but now unresponsive • Originates from Washington, US; users sent money via third party Kraken which itself not accused of wrongdoing • App popularity spread locally in North East via word-of-mouth and WhatsApp groups before issues arose in November