Exchange Bitsane may have done a runner with users’ funds

An Irish-based exchange has literally vanished amidst a possible “international scam”. The news comes from Irish Mirror. The cryptocurrency exchange that disappeared is called Bitsane. Traders could operate with XRP, bitcoin and many other cryptocurrencies until last week, when Bitsane vanished.

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.

A user that claimed to have lost $150,000 and requested to remain anonymous told Forbes:

“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.”

Launched in 2016, Bitsane was registered in Ireland as Bitsane LP, and had more than 240, 000 registered users as of the end of May, 2019.

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.

The “disappearance” of the exchange occurred on June 17th. The social website accounts of Bitsane were also deleted.

Not surprisingly, the employees of the exchange have also mysteriously vanished. The potential reason for the odd event: the exchange may have run an international scam. In addition, users found out that Bitsane was never registered with the Irish Central Bank in the first place.

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