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Bitsane Exchange Disappears With It’s Over 246k Users’ Deposits – Crypto Exit Scam.

In line with a recent report by ‘Forbes’, Ireland-based renowned Bitsane exchange has apparently closed its operations, with its over 246,000 users’ deposits in cryptocurrencies.

Launched‘ earlier in 2016, Dublin-registered Bitsane LP was actually ‘listed‘ among as one of the Ripple’ approved exchanges – an earlier ‘report‘ by CNBC in January last year, pitched the exchange as an option for investors seeking to trade  Ripple [XRP] even before of its listing on leading platforms like Coinbase.

As per Forbes, user withdrawals on Bitsane began faltering earlier from the month of May this year, with allegedly technical reasons cited as the reason for their temporary disabling. However, by 17th June, both the Bitsane official web-site and its social media accounts were deleted, with emails to Bitsane accounts bouncing back as undelivered.

Moreover, neither the exchange’s CEO named ‘Aidas Rupsys’ or nor its chief technology officer ‘Dmitry Prudnikov’, could be reached by Forbes throughout the magazine’s investigation into the case. At the reporting time, Prudnikov’s LinkedIn ‘profile‘ seems to also have been deleted.

As of 30th May this year, Bitsane ‘counted‘ 246,000 registered users, with a daily listed volume of over $7 Mln on 31st March, per ‘CoinMarketCap‘.

User groups on Telegram and Facebook ‘reveal‘ users ‘claiming‘ to almost lost up to around $5,000 USD, with Forbes citing an anonymous U.S. based user who claimed that he had $150,000 USD in Ripple [XRP] and Bitcoin [BTC] on the exchange before the company’s sudden disappearance.

Forbes additional reports on a separate firm, incorporated within the U.K. as Bitsane Ltd. by Maksim Zmitrovich earlier in August 2017, that apparently tried to buy the intellectual rights to Bistane’s code and used it as the basis for its own platform, named ‘Azbit’. 

As per Zmitrovich, the firm has assumed the Bitsane name to fulfil a condition set by Bistane’s developers, however at the end, the desired partnership between the 2 firms failed to materialize. 

Within a recent official ‘web-blog post‘ published earlier this month, Zmitrovich has vehemently denied any substantive link between Azbit as well as the apparent exit-scam, outlining that the Bitsane team has did not answer any of his correspondence since from April of this year.

While Forbes adds that several Bitsane users mostly based within the U.S. have reportedly filed complaints with the F.B.I., solutions for those affected by the platform’s disappearance presently stay unclear.

Also earlier this month, reports surfaced that Polish crypto exchange named Coinroom reportedly ‘closed‘ its operations and disappeared with its user funds, having notified users they’d only 1 day to withdraw funds before their contracts would be terminated.

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