Bitcoin Exchange Suffers Trader Backlash Months After Suspicious ‘Fire’

P. H. Madore
Months after a suspicious

By CCN: A crypto trader provided CCN with documents proving that he has lost around 43 Ether all told after depositing it on BiteBTC on Christmas Eve. As we previously reported, the Bitcoin exchange claimed a fire wrecked its servers, but the exchange claimed crypto wallets were safe.

Where There’s Smoke, There’s Fire

Nearly every tweet sent by the exchange is answered with multiple complaints about deposit and withdrawal issues. The following is an example, which allegedly shows BiteBTC harassing a complaining user:


Our tipster contacted BiteBTC after the fire and was told his account would be restored. He provided the requested information, but they wrote him off as someone attempting a double-spend and have refused to respond to any further inquiries. Given that we have seen proof of the user’s claims, this makes the story that “wallets are safe” seem relatively far from the truth.

Here is a screenshot of the user’s account, which was never credited back with the lost Ethereum:

bitcoin exchange scam

BiteBTC told this user that his details were invalid, despite blockchain proof, and has never responded further.

The user can prove that he deposited using the Ethereum blockchain. BiteBTC announced it would be crediting user accounts in February. If you look at the Etherscan records, it shows that the user received 42.98 ETH and then sent it to BiteBTC. There may be some confusion about which transaction credited the BiteBTC account, but the result is the same: the user proved it was his account, proved that he sent the deposit, and has never received his money back.

Read the full story on CCN.com.