Crypto exchange Bitsane vanishes, scamming 246 000 users

Bitsane, an Ireland-based cryptocurrency exchange, has reportedly vanished along with the deposits of up to 246,000 users

According to Forbes, users have been experiencing failures in May with the exchange responding that withdrawals were “temporarily disabled due to technical reasons.” By the middle of June, the company’s site and all associated social media accounts had been disabled and deleted. By June 17th, any emails sent to Bitsane addresses have been undelivered.

Bitsane, which had been listed as one of Ripple’s approved exchanges, legitimising the company for XRP trades, saw a count of 246,000 registered users. On March 31st, CoinMarketCap reported a daily traded volume on the exchange of over $7 million. The exchange gained a lot of attention in the crypto craze in 2017 and 2018 as it offered Ripple trading when Coinbase did not.

Read More at CoinInsider

#ScamAlert #Exchanges

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