Irish Crypto Exchange Bitsane May Have Disappeared With Users' Funds
Irish cryptocurrency exchange Bitsane may have done a runner with users' funds, according to a report.
Irish cryptocurrency exchange Bitsane may have done a runner with users' funds.
Forbes said Thursday that the Bitsane exchange, which offers spot trading of cryptos and gained popularity as an early provider of XRP trading, has gone offline and has deleted its social media accounts. Emails sent by Forbes bounced back, it said.
Customers of the exchange are saying that they have possibly lost amounts ranging from $5,000 to $150,000 in crypto holdings.
On crypto data website CoinMarketCap, Bitsane's trading information has not been updated for over 10 days.
A user that claimed to have lost $150,000 and requested to remain anonymous told Forbes:
Launched in 2016, Bitsane was registered in Ireland as Bitsane LP, with Aidas Rupsys listed as CEO and Dmitry Prudnikov as CTO. Forbes says Prudnikov’s LinkedIn account has now also been deleted, and that both could not be reached for comment.
Some users apparently suspect that another firm, Bitsane Limited, which was founded by Maksim Zmitrovich, may be connected to the possible exit scam. Forbes did manage to speak to Zmitrovich, but he denied any involvement and said he hadn't spoken to Prudnikov in over five months.
Empty pockets image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.