Cryptocurrency Exchange Bitsane Rumoured to have Shutdown Operations, Absconds with Users’ Funds

June 28, 2019 7:53 PM UTC


An Irish-based cryptocurrency exchange Bitsane is being rumoured to have disappeared with users’ funds after it apparently went offline and also deleted its social media handles.

A report from a source on Thursday, June 27, revealed that cryptocurrency exchange Bitsane which offers spot trading, was well-known as the cryptocurrency exchange that early provided support for XRP trading. Per the report, the cryptocurrency exchange has currently gone offline and its social media accounts deleted.

The sudden shutdown of the cryptocurrency exchange was also confirmed from crypto data website CoinMarketCap, which revealed that the trading information of Bitsane, was last updated 10 days ago. The report also revealed that emails sent to the exchange, returned unreplied.

In reaction to this, some users have claimed loss of cryptocurrency assets worth ranging from $5,000 to $150,000. A user who requested anonymity claimed to have lost $150,000, he said:

“I was trying to transfer XRP out to bitcoin or cash or anything, and it kept saying ‘temporarily disabled.’ I knew right away there was some kind of problem. I went back in to try to look at those tickets to see if they were still pending, and you could no longer access Bitsane.”

Cryptocurrency exchange Bitsane was launched in 2016 in Ireland, founded by Maksim Zmitrovich, and registered as Bitsane LP. The report revealed that the LinkedIn accounts of the CTO of Bitsane, Dmitry Prudnikov, has also been deleted while efforts to reach both the CEO, Aidas Rupsys, and Dmitry proved abortive.

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