Bitsane Exchange: possible scam
Bitsane Exchange: possible scam
Crypto

Bitsane Exchange: possible scam

By Alfredo de Candia - 28 Jun 2019

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A few days ago another exchange, Bitsane, which mainly traded Ripple (XRP), disappeared into thin air, leaving over 240,000 users with no funds and no support to refer to as all social profiles have been deleted, which suggests a real scam.

Launched in 2016, the exchange had its headquarters in Dublin and allowed to trade both crypto against fiat and crypto against crypto. The bank transfers were SEPA, but there was also integration with OKPAY and ADVCASH; it accepted euros, US dollars and Russian roubles, but not credit cards.

Bitsane required the classic KYC (Know Your Customer) procedure to be able to operate, it also following strict AML (Anti Money Laundering) and CTF (Counter-Terrorist Financing) procedures. In addition, the platform claimed to have customer assets stored in cold storage and boasted that it had never been hacked.

The main cryptocurrencies that it dealt with were bitcoin, bitcoin cash, bitcoin gold, ethereum, litecoin, XRP, dash, iconomi and also the above-mentioned fiat.

bitsane exchange scam

Unfortunately, many have now found themselves without funds. Both CEO Aidas Rupsys and CTO Dmitry Prudnikov are no longer available even on social networks, a sign of a real scam.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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