Coinmetro Has Been Frozen Since June 2026 — Here’s the Current Status

If you’re searching for Coinmetro to check whether it’s safe to open an account or trade, the most important fact comes first: as of this writing, Coinmetro is not operating normally. Deposits, withdrawals, trading, and new account registrations have been suspended since June 22, 2026, and the Estonian-registered exchange is currently in a contested court process that will determine what happens to customer funds. This is a developing legal situation, not a stable platform to evaluate on fees or features — so that’s where this piece focuses.

The Timeline, as Verified Through Official and Legal Sources

June 22, 2026 — Coinmetro OÜ suspended all new registrations, deposits, withdrawals, and trading, citing what it described as "an extraordinary situation caused by a failure of one of our financial service providers."

June 30, 2026 — Coinmetro filed a reorganization application with the Estonian court, a legal process intended to let a financially distressed company restructure its obligations under court supervision rather than liquidate outright. CEO Kevin Murcko stated in a public livestream that the underlying financial shortfall stemmed from a provider failure dating back years, though his account of exactly how many providers were involved reportedly shifted between statements.

July 1, 2026 — The EU’s Markets in Crypto-Assets Regulation (MiCA) became fully binding, requiring exchanges to hold a valid MiCA license to keep operating. Coinmetro’s existing Estonian VASP authorization lapsed on this date, and its application for a new license through Malta’s regulatory authority (MFSA) had not been approved in time.

August 24, 2026 — The Estonian court declined Coinmetro’s reorganization application, finding that the company’s circumstances did not meet the legal definition of reorganization under Estonian law.

September 8, 2026 — Coinmetro filed an appeal, which as of the most recent update was pending before the Tallinn Circuit Court.

Throughout this process, Coinmetro has maintained that it is "not bankrupt" and has continued publishing status updates, though deposits, withdrawals, and trading remained suspended at every checkpoint through at least mid-September 2026.

What Coinmetro Has Said About Customer Funds

This is the detail that matters most to anyone with money on the platform, and it’s worth quoting the substance of Coinmetro’s own disclosures rather than softening them. According to legal counsel representing affected creditors, Coinmetro has stated publicly that customer balances are not backed in full, that customer assets are held with a third party rather than directly by Coinmetro, and that the company cannot promise the return of full account balances. Separately, Estonian corporate records reportedly show that neither Coinmetro OÜ nor its parent, Coinmetro Group OÜ, had filed annual reports for 2024 or 2025 as of the suspension, and both entities carry recorded tax arrears. Coinmetro is also named in a separate clawback lawsuit filed by the bankruptcy estate of Prime Trust — an unrelated custodian that itself collapsed in 2023 — seeking to recover roughly $1.2 million transferred to Coinmetro before Prime Trust’s failure.

None of these facts individually prove insolvency, but taken together — unbacked balances, overdue financial filings, tax arrears, and an active clawback claim — they describe a company in genuine financial distress, not simply a platform caught by an unlucky regulatory deadline.

What Coinmetro Was, Before the Suspension

For context, Coinmetro operated as an EU-licensed exchange based in Estonia, offering spot trading, margin trading, copy trading, and staking across roughly 20 to 90 cryptocurrencies depending on the period, with a native utility token, XCM, used for fee discounts and staking rewards. It’s also worth noting Coinmetro disclosed a prior hack in October 2020, well before the current crisis, which it had previously stated was resolved without the kind of customer impact now in question. The exchange had positioned itself around MiCA compliance as a selling point — "licensed access to crypto trading" — which makes the way it ultimately lost its license, rather than gained one under the new framework, a particularly sharp reversal of its own core pitch.

What People Are Actually Asking

Can I withdraw my funds from Coinmetro right now?

No. Withdrawals, deposits, and trading have been suspended since June 22, 2026, and remained suspended as of the most recent public status update.

Is Coinmetro a scam?

What’s publicly documented describes a licensing and financial-distress crisis working through a formal legal process, not an exit scam — the company remains engaged with courts and regulators rather than having disappeared. That said, the company’s own admission that balances aren’t fully backed is a serious statement that anyone with funds there should weigh carefully and verify directly with qualified legal counsel in Estonia rather than relying on any single summary, including this one.

What happens next?

Coinmetro’s appeal against the Estonian court’s rejection was pending before the Tallinn Circuit Court as of the most recent reporting. The outcome of that appeal will determine whether any court-supervised restructuring proceeds, or whether the matter moves toward a different insolvency process.

Where can I get verified, current information?

Directly from Coinmetro’s own status page, and from a qualified Estonian insolvency or reorganization lawyer if you hold funds on the platform — this is a live legal matter, and anything published here could be outdated by the time you’re reading it.

This article describes publicly reported facts as of early October 2026 and isn’t legal or financial advice; anyone with funds affected by this situation should consult a qualified professional directly. Wes Ibarra covers exchange solvency and regulatory crises as they develop — this is very much one still in motion.