Case summary
What happened
CoinLoan operated custodial interest accounts and crypto-backed lending products. On 24 April 2023, an Estonian court prohibited CoinLoan OÜ from disposing of assets without the provisional trustee's consent. The Harju County Court declared the company bankrupt on 14 June 2023 in proceeding 2-23-3290. The trustee later prepared creditor lists, and the court confirmed the creditor list on 10 April 2025. Bankruptcy administration and creditor recovery remained ongoing after that confirmation.
Customer result
Customer outcome
Claims ongoing
The court confirmed the creditor list on 10 April 2025. This establishes progress in the claims process but does not by itself establish a completed distribution or one recovery percentage for every creditor class.
- Estimated recovery
- No final universal recovery rate established in the reviewed official court notices.
- Repayment started
- —
- Repayment completed
- —
- Confidence
- High
Asset treatment
Terms risk
Varies by product
CYA uses varies_by_product because the reviewed Terms distinguish unallocated Account balances, Interest Account deposits used in lending, borrower collateral and lender-side loan relationships. The Terms do not establish one universal insolvency priority or recovery percentage for every creditor class.
- Affected product
- CoinLoan interest accounts, deposits, loans and collateral claims
- Confidence
- High
CoinLoan's first-party Terms distinguish funds held in a general CoinLoan Account from funds allocated to Interest Account products. The Terms state that Instant Loans are made from deposits CoinLoan holds from Interest Account users, while legal-process provisions reserve CoinLoan a first claim over funds in a user Account. These provisions establish product-dependent custody and counterparty exposure rather than one universal asset-treatment rule across deposits, interest accounts, loans and collateral.
Known unknowns
Uncertainty
The 2017 launch date remains approximate. Reviewed official notices establish the bankruptcy and creditor-list process but do not establish one final universal recovery percentage or completion date for all creditor classes.
Chronology
Historical record
CoinLoan begins operating
CoinLoan developed as a custodial crypto lending and interest-account platform.
The launch year remains approximate.
CoinLoan restricts withdrawals as court restrains asset disposal
CoinLoan reduced customer withdrawal access and an Estonian court prohibited CoinLoan OÜ from disposing of assets without the provisional trustee's consent.
The event combines the customer-facing withdrawal restriction with the same-day official provisional asset restraint.
Harju County Court declares CoinLoan OÜ bankrupt
The Harju County Court declared CoinLoan OÜ bankrupt at 10:00 on 14 June 2023 in civil proceeding 2-23-3290.
The official Estonian notice provides the exact declaration date and proceeding number.
CoinLoan ceases normal platform operations
Following the bankruptcy declaration, CoinLoan no longer operated as a normal lending and interest-account platform.
The bankruptcy date is used as the effective end of ordinary platform operations.
Court confirms CoinLoan creditor list
The court confirmed the creditor list submitted by the CoinLoan bankruptcy trustee in proceeding 2-23-3290.
Creditor-list confirmation advanced the claims process but did not establish final recovery for every creditor class.
Source record
Evidence dossier
Filter by claim, reliability, source type, and whether evidence is linked to a specific event.
customer outcome
2 sourcesCoinLoan preliminary creditor list notice
Ametlikud Teadaanded / bankruptcy trustee · 2024-12-31
Official notice that a preliminary creditor list had been prepared in proceeding 2-23-3290.
CoinLoan creditor list confirmation notice
Ametlikud Teadaanded / Harju County Court · 2025-04-10
Official notice that the court confirmed the trustee-submitted creditor list.
Event
4 sourcesCoinLoan withdrawal limit coverage
CoinDesk · 2023-04-24
Contemporaneous customer-facing withdrawal-limit report.
CoinLoan OÜ asset-disposal restriction notice
Ametlikud Teadaanded / Harju County Court · 2023-04-24
Official notice of the provisional restriction on disposal of CoinLoan OÜ assets without trustee consent.
CoinLoan OÜ bankruptcy declaration notice
Ametlikud Teadaanded / Harju County Court · 2023-06-14
Official notice declaring CoinLoan OÜ bankrupt at 10:00 on 14 June 2023 in proceeding 2-23-3290.
CoinLoan bankruptcy proceedings overview
Laus & Partners
Creditor-representation overview of the Estonian bankruptcy case.
status
1 sourcesCoinLoan OÜ bankruptcy declaration
Ametlikud Teadaanded / Harju County Court · 2023-06-14
Authentic-language official notice supporting the end of normal operations and bankrupt status.
terms risk
1 sourcesCoinLoan Terms & Conditions
CoinLoan
First-party terms distinguish unallocated Account funds from Interest Account products, state that Instant Loans are funded from deposits held from Interest Account users, and reserve CoinLoan a first claim over funds in a user Account in legal process. This supports product-dependent custody and counterparty exposure; it does not establish a single universal insolvency priority or recovery percentage across interest accounts, deposits, loans and collateral.
url history
1 sourcesCoinLoan website archive captures
Internet Archive
Historical captures of the customer-facing platform domain.
No evidence records match the current filters.
Comparative records