{"id":6795,"date":"2019-06-02T23:19:43","date_gmt":"2019-06-02T20:19:43","guid":{"rendered":"https:\/\/forklog.media\/?p=6795"},"modified":"2019-06-17T16:29:45","modified_gmt":"2019-06-17T13:29:45","slug":"bitebtc-crypto-exchange-pulls-an-alleged-exit-scam-coinmarketcap-warns-of-withdrawals-being-halted","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitebtc-crypto-exchange-pulls-an-alleged-exit-scam-coinmarketcap-warns-of-withdrawals-being-halted\/","title":{"rendered":"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted"},"content":{"rendered":"<p>BiteBTC, a little-known cryptocurrency exchange allegedly based in Singapore, has halted withdrawals and is blocking clients\u2019 accounts, several affected users <a href=\"https:\/\/forklog.com\/polzovateli-obvinili-birzhu-bitebtc-v-krazhe-sredstv-na-coinmarketcap-uzhe-poyavilos-predosterezhenie\/\" target=\"_blank\" rel=\"noopener noreferrer\">told<\/a> Forklog.com. A similar warning <a href=\"https:\/\/coinmarketcap.com\/exchanges\/bitebtc\/\" target=\"_blank\" rel=\"noopener noreferrer\">was also posted<\/a> by CoinMarketCap.<\/p>\n<p><!--more--><\/p>\n<p>From what we know at this point, on several occasions the exchange asked traders to provide sources for their funds and proofs of ownership. BiteBTC also required users to prove their identity by providing bank account or credit card statement to ensure a full compliance with AML\/KYC rules.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-6796 aligncenter\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/1-19-e1559397914547.jpg\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"820\" height=\"232\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/1-19-e1559397914547.jpg 820w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/1-19-e1559397914547-300x85.jpg 300w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/1-19-e1559397914547-768x217.jpg 768w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/1-19-e1559397914547-470x133.jpg 470w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6797\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Screenshot_2-42.png\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"532\" height=\"457\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Screenshot_2-42.png 532w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Screenshot_2-42-300x258.png 300w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Screenshot_2-42-470x404.png 470w\" sizes=\"auto, (max-width: 532px) 100vw, 532px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6798\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/2-162.png\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"535\" height=\"470\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/2-162.png 535w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/2-162-300x264.png 300w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/2-162-470x413.png 470w\" sizes=\"auto, (max-width: 535px) 100vw, 535px\" \/><\/p>\n<p>However, even after successful verification users had their accounts blocked while trying to withdraw assets from the exchange.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6799\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/3-15.jpg\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"719\" height=\"1280\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/3-15.jpg 719w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/3-15-169x300.jpg 169w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/3-15-575x1024.jpg 575w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/3-15-264x470.jpg 264w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6800\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/4-46.png\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"544\" height=\"150\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/4-46.png 544w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/4-46-300x83.png 300w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/4-46-470x130.png 470w\" sizes=\"auto, (max-width: 544px) 100vw, 544px\" \/><\/p>\n<p>BiteBTC&#8217;s Twitter page suggests thatthe exchange is based in Singapore. According to the official website, <em>First Financial LLC<\/em>, allegedly based in Seychelles, seems to be BiteBTC\u2019s operator, but the domain for the firm\u2019s website <a href=\"http:\/\/whois.domaintools.com\/firstfinllc.com\" target=\"_blank\" rel=\"noopener noreferrer\">is registered<\/a> in the U.S. Therefore, it\u2019s not immediately clear to which regulations the exchange is subjected.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6802 size-full\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Screenshot_2-e1559506752864.png\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"820\" height=\"94\" \/><\/p>\n<p>Owner of Singapore based firm <em>FinanceFirst Pte. Ltd<\/em> has provided more insights in a recent <a href=\"https:\/\/investmentstab.blogspot.com\/2019\/03\/bitebtc-scam.html\" target=\"_blank\" rel=\"noopener noreferrer\">blog post<\/a>. He claims that BiteBTC website has fraudulently stated the company as an operator. He also filed a police report against the exchange for a theft of identity.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"ru\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/BiteBTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BiteBTC<\/a> crypto <a href=\"https:\/\/twitter.com\/hashtag\/exchange?src=hash&amp;ref_src=twsrc%5Etfw\">#exchange<\/a> is accused of stealing an identity of FinanceFirst Pte. Ltd. Users reported withdrawals are being halted and accounts blocked without clear reasons. Possibly another one exit scam is happening right now. Be careful with your money! <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/WtFEpcpngi\">pic.twitter.com\/WtFEpcpngi<\/a><\/p>\n<p>\u2014 Nick Schteringard (@schteringard) <a href=\"https:\/\/twitter.com\/schteringard\/status\/1135183964317114370?ref_src=twsrc%5Etfw\">2 \u0438\u044e\u043d\u044f 2019 \u0433.<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>First warning signs in regard to BiteBTC appeared back in February, when users started complaining about withdrawals being delayed or halted with no clear reasons.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"ru\">\n<p dir=\"ltr\" lang=\"en\">Better avoid this exchange, you&#8217;ll never see your money back.<br \/>\nWithdrawals are not possible on this exchange.<\/p>\n<p>\u2014 JellevH (@haljim01) <a href=\"https:\/\/twitter.com\/haljim01\/status\/1100092116011835394?ref_src=twsrc%5Etfw\">25 \u0444\u0435\u0432\u0440\u0430\u043b\u044f 2019 \u0433.<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some malicious actors have already tried to scam users out of their money by promising to rectify accounts for a small payment of 0.01 BTC. They send fraudulent emails from<em> bitebtctechnicalteam@yahoo.com<\/em> and ask clients to make a transaction to the following address: <a href=\"https:\/\/www.blockchain.com\/btc\/address\/1BFS674vrWKoaiP6oSbynhLYgdncL6odDy\" target=\"_blank\" rel=\"noopener noreferrer\">1BFS674vrWKoaiP6oSbynhLYgdncL6odDy<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6801\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Rectify-e1559398407560.jpg\" alt=\"BiteBTC Crypto Exchange Pulls an Alleged Exit Scam. CoinMarketCap Warns of Withdrawals Being Halted\" width=\"820\" height=\"248\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Rectify-e1559398407560.jpg 820w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Rectify-e1559398407560-300x91.jpg 300w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Rectify-e1559398407560-768x232.jpg 768w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/06\/Rectify-e1559398407560-470x142.jpg 470w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/p>\n<p>Users also told ForkLog.com that the exchange offered higher prices for arbitrage and reported high trading volumes.<\/p>\n<p><a href=\"https:\/\/twitter.com\/schteringard\" target=\"_blank\" rel=\"noopener noreferrer\">Nick Schteringard<\/a><\/p>\n<p>Follow ForkLog on <span style=\"text-decoration: underline;\"><a href=\" https:\/\/twitter.com\/forklog_en\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a><\/span> and <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.facebook.com\/forklogen\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> Facebook<\/a><\/span>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BiteBTC, a little-known cryptocurrency exchange allegedly based in Singapore, has halted withdrawals and is blocking clients\u2019 accounts, several affected users told Forklog.com. A similar warning was also posted by CoinMarketCap.<\/p>\n","protected":false},"author":1,"featured_media":6804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[48,549],"class_list":["post-6795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-exchanges","tag-scam"],"aioseo_notices":[],"amp_enabled":true,"views":"742","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=6795"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6795\/revisions"}],"predecessor-version":[{"id":6803,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6795\/revisions\/6803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/6804"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=6795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=6795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=6795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}