Cryptocurrency project Zoin has been shrouded in a cloud of controversy in the last few months, and the team has finally decided to close shop and exit the crypto space. They confirmed this in an official post on their website and on their Twitter channel, stating that:

Zoin ended all activities and team has been dismantled 10th of October 2018 more in article.

In what appears to be a hostile takeover, the Zoin team blames crypto exchange, Cryptopia for their decision. They claimed that Cryptopia collaborated with a “fake” cryptocurrency, Noir Coin, which stole 225,000 Zoins and hijacked the network.

Source: Zoin Website

Meanwhile, earlier this month, Noir had notified the Zoin community that there will be a rebrand of the project, and that Noir is a rebranded version of Zoin. They noted that:

On the 3rd of September, we asked you whether we should rebrand. A total of 157 people voted. 121 of them voted for ‘Yes’ – only 36 for ‘No’.

In essence, the Zoin team has claimed that they did not initiate any rebranding processes, while Noir is insisting that it is a rebranded version of Zoin. The members of the Zoin team has gone further to say that they have been receiving public threats from the scammers.

With regards to pricing, as expected, the market has reacted negatively to this news and controversy. As at press time, Zoin was down by over 55%. The Zoin team has asked members of their community to forward any complaints to Noir.