Scammed by Bitrue on 100,000$ (Scam 1,78 BTC)

[Flaxman]

Hello XRP Chat, I wish to share a story with you. A story which is very scary, which could happen to anyone.
I wanted to sell my tokens one day which I had staked for years, and I noticed this exchange "Bitrue" was the only one with enough volume where I could trade my tokens. So I registered made an account over there and deposited my funds. This was back in 2020, late summer in August.

I withdrawed 2 BTC and I was happy about that, with 1.78 BTC left on my account unable to withdraw since there was a limit on 2BTC per 24H allowed for withdrawal. I didn't worry about that, I mean I had just gotten out my funds and was thinking that if they would scam me they would have probably not given me anything.
The day after I tried to withdraw, now my withdrawals get rejected. And I am also unable to trade, (Account is semi banned) https://i.gyazo.com/171004ae831f288bc80933108ae53b66.png

I message support and I get straight up ignored. It takes about 6 months to get an answer and they tell me this: https://i.gyazo.com/5c7f22312a9373f0c5df74f8fa93a3c3.png
I tell them that this is my BTC address and noone has been withdrawing to this except me, (I would have known if someone did..) So I tell them this: https://i.gyazo.com/ce6df2ef8932a150e9d6d98b176466ba.png And I get the no answer and I get straight up ignored..
So I open another ticket and I get the exact same response, https://i.gyazo.com/04c9405b53c4bb67b0e61d18229465ac.png And I tell them the same thing but they do not help me at all..

Nothing really happen so I give it some time. 2 weeks ago, I had another ticket opened, where they told me that I had been doing "n-grade arbitrage trading" when in reality I just sold my crypto https://i.gyazo.com/962af6a6a2028e0134ac88eaa49f9a35.png so they also tell me: We will also need you to complete KYC verification to continue using Bitrue’s services, if you have not yet done so already.
(Me explaining this to them: https://i.gyazo.com/70ae5153aaf4e598c98f16511911238e.png)

They helped me get verified, so I am now verified and I still cannot use my account like I should be. When asking them to fix my account I get my tickets closed. One by one. And this support member tells me: https://i.gyazo.com/bb874814918a01b3497af0a27ca58b76.png. Almost same as before but he also tell me: Further violation to the T&Cs of the platform will lead to limitations on your account.
I mean, what more can they do? I cannot trade or withdraw, so there is already maximum limitations on my account.

So I open one more thread saying this: https://i.gyazo.com/cc945e51bfa24baaadbe47afa71a1d71.png and I get an answer where they say this: https://i.gyazo.com/70d1325cf5bc5cf105584f093cd15373.png. So I thank him and the conversation goes on like this: https://i.gyazo.com/5bfd7732bd2cbf8f2c71db0cb4c27add.png. But then my last question I have to them is this, the most important question of them all, if my account will be able to trade and withdraw my money. https://i.gyazo.com/7a8d7367421f100ddd8c2ab88f992191.png

Until I get my funds out of this website I would really recommend you all to stay away from this website, be very cautious atleast. I hope that they can release my funds because this really is alot of money... my life savings...
Please share your thoughts about this, I will keep the thread updated on how it goes.

Update: I just received this answer, https://i.gyazo.com/087d150aa5ea0e5bc8a95ac9b8b2ffda.png. I suppose I have been scammed..

STAY AWAY FROM BITRUE EXCHANGE WHATEVER YOU DO!!! THEY ARE SCAMMERS AND WILL STEAL YOUR FUNDS!!!

[brianwalden]

Wait was that really coming from Bitrue? Did you do the KYC through Bitrue's website/app? Or through email with those people?

[Guest]

Looks like you are not the only one
XRP Forensics Calls Out Bitrue for Shuttering Users

There is a good chance that you will get back your funds. Maybe contact XRP Forensics for help

 

Edited April 8, 2021 by Guest

[VanGogh]

I was just thinking this morning that I might put take some assets off of my ledger and put them in Bitrue's power piggy to earn interest. Upon reading this I instead began the process of withdrawing some of my assets from Bitrue. I've used them for a couple of years. I haven't had any real problems, except they would not let me withdraw Monero, and gave no warning as such, which made me angry. The other day I had enabled a new security feature that simply said withdrawal security. In doing so I didn't realize you had to white list all the devices or IP addresses you use in order to withdraw your assets. So, while trying to withdraw my assets this morning it said I don't have any devices on my whitelist. I then decided to simply turn off this security feature, so that I could just withdraw my assets or move them around as I have frequently done. However, this time since I disabled the withdraw security feature (which I had just enabled a few days ago) they now have frozen my assets from withdrawal! It's not as if I don't have all the other security features enabled, 2-factor, KYC, etc., etc.. It's incredibly frustrating to not be able to withdraw your money! That's worse than a bank. After all, why are we here if the exchanges are going to be more difficult to deal with than banks are today? The minute they unfreeze my assets I'm going to take them all off of Bitrue!

So apparently, there is fine print when you disable that feature which says your assets will be locked for 24 hours. One has to wonder how much security is enough. The crypto accounts I use have far more stringent security than the banks I use. 

Edited April 8, 2021 by VanGogh
last paragraph added.

[Hero_Member]

Very shady business. I have not been able to find any real company information on the website. They say something like: offices there and there, but no address whatsoever.

Be very cautious! I had an account there, but deleted it as soon as I found out the n-grade arbitage thing. First of all, arbitrage is allowed on every exchange I know and use. And what is n? 1? 2?? And if they say you violate it, your funds are gone? No support anymore.

I would say: stay very, very far away.

And Ripple, maybe reconsider your friendly words for them...

[Hero_Member]

On 4/9/2021 at 9:10 AM, Hero_Member said:

Very shady business. I have not been able to find any real company information on the website. They say something like: offices there and there, but no address whatsoever.

 

@Silkjaer Do you have any company information? I guess victims should file a complaint in their jurisdiction.

[jargoman]

I'm willing to bet they weren't solvent and resorted to seizing XRP, now that they have collected the spark air drop they can give XRP back. odd that flr is priced so high on their exchange. I wonder who the whale is on bitrue that would want flr to be priced higher than XRP. 

[JASCoder]

On 4/19/2021 at 11:59 PM, Hero_Member said:

@Silkjaer Do you have any company information? I guess victims should file a complaint in their jurisdiction.

Last I checked they're licensed out of an East African country ? 

[Hero_Member]

9 hours ago, JASCoder said:

Last I checked they're licensed out of an East African country ? 

On LinkedIn they say the company is in California. I have contacted a LinkedIn employee, but till now no response (what a surprise...)

A press release on Nasdaq states the company is based in Singapore....

[Hero_Member]

I did get a reply on my question what company is behind the Bitrue website: What do you need that info for? So I told her to file a complaint. No response since then.

My advice to everyone holding funds at Bitrue: withdraw while you can!

[Hero_Member]

Final answer was to contact Bitrue support. No company info provided. I contacted support, they send me to the footer info, but there is no company information there (as they say in their shady terms). Asked again, no response.

Stay away from Bitrue! Any company not willing to disclose this information is too shady to trust your XRP (or any other coin...)

[redpeacock]

Hello @Flaxman,

Sorry to hear about the scam.

Seek legal assistance, the best crypto law firms that work with these cases are Roche Fredman (https://rcfllp.com), and Crypto Legal (https://www.cryptolegal.uk), drop them an email and check your options...

[Markjackson]

I have found them to be the most shady exchange there is.  If you read the fine print in doing business with them they don’t operate under US law, they operate under Singapore law.  They have no listed US offices.  If you even attempt to sue them you have to try to do it in Singapore.  They have too much of a shady reputation for me to ever trust them with my assets

[Markjackson]

On 4/20/2021 at 2:59 AM, Hero_Member said:

@Silkjaer Do you have any company information? I guess victims should file a complaint in their jurisdiction.

I’ve had a lawyer read the company information.  You. And sue in your jurisdiction, you have to try to mediate in Singapore 

[XrpDav11]

I have dealt with those crooks before.

I told them I now understand why the word 'Rue' is in their title.