Magnusson Is Assisting Coinmetro Creditors in Recovering Their Deposits

Coinmetro OÜ suspended deposits, withdrawals and trading on 22 June 2026. Customer balances have been frozen since. The company applied to the Estonian court over the summer to open reorganisation proceedings. The court refused the application. The plan Coinmetro put forward was to stop operating as a crypto exchange and continue as a technology business, licensing its software to newly licensed companies abroad and repaying customers out of a share of future revenue. That plan rests on moving the business to a Maltese company which currently does not hold the required license. Coinmetro’s own Estonian license has lapsed.  

Taken together, these circumstances point towards insolvency. Neither Coinmetro nor its parent company has filed an annual report for 2024 or 2025, and both carry tax arrears recorded in the Estonian register. The company has said publicly that customer balances are not backed in full, that customer assets are held with a third party, and that it cannot promise the return of full balances. 

How we can help 

• Review your account and records and tell you where you stand. 

• Prepare, lodge and defend your claim, and object where it has been recorded or valued wrongly. 

• Represent you in Estonian reorganisation or bankruptcy proceedings, including where a creditor’s own petition is the right step. 

• Act for a group of affected customers on grouping, valuation and the terms of any plan, where a group carries weight an individual does not. 

Fee structure 

We understand that many of those affected do not wish to incur substantial hourly legal fees while the prospects of recovery remain uncertain. We therefore act for creditors as a group, on a fee arrangement combining: 

• a modest fixed fee, covering initial coordination and preparation of the claims;  

• and a success fee, payable only out of what you actually recovery.  

The final structure depends on how many creditors join, the value of the claims and the procedural steps the matter calls for. 

Contact us 

We are a leading international business law firm with substantial experience in digital asset recovery matters. Magnusson has acted for creditors in the insolvencies of the crypto platforms ZondaCrypto and CoinLoan, where investors recovered a substantial part of their assets through a structured process, and in a number of comparable matters. We are also part of ICC FraudNet, the leading international asset recovery network, which gives us reach when assets have moved across borders. 

Write to us at coinmetro@magnussonlaw.com