Bitcoin Forum

Hello, dear bitcointalk community.

Once I transferred ETH to my account on Bitinka exchange and bought there BCH. Than I saw, that every hour there was a big limit order to buy BCH from someone. I sold BCH. Than bought it cheaper. Then sold, then bought. I did not know, that I did something wrong. There is no such point rules, that I can not fill limit orders on a Bitinka exchange.

After that, my balance increased, and I tried to withdraw funds. I sent an request on saturday, 03 of November, to withdraw. Nothing has happened.

Today is 20 of November, 3 weeks are passed. Bitinka still did not withdraw my funds. There is a silent on emails.

If I did something wrong, just roll back my deposit and give me back my money. I beg you. I’m waiting for a long, long time, and nothing happens…

I want only my money, that was deposited on Bitinka account 02 of November.

You did nothing wrong! you just traded on an exchange where trades are meant to be done.

But 3 weeks is way too long, have you tried reaching out to their social media accounts? you can follow up your problem there.

There's no Bitinka rep in this forum I guess, so they can't read this thread.
I searched about this exchange and there are a lot of complaints related to delays and got resolve in the end.
You should contact them again or go direct to their social media accounts like what other said above.

Hello everyone!
Thank you very much for your attention on my problem. It is really important for me, thank you.

I posted on every socnetwork, where I had a chance to post: I wrote on Instagram, I wrote pm on a Facebook and I also sent another email to them with a link to this thread.

One time per week they are sending email, that I should wait. How much time should I wait? I do not know. Third week of waiting is over now.

I want to note that I did not hurt alone. There is another topic on a Spanish section: https://bitcointalk.org/index.php?topic=3355648.0

I also read about delays, but no one waited for three weeks.

BITINKA, where are you?!

Hello everybody

I also have same problem for three weeks. I couldnt do any withdrawing and some of my funds disappeared. They said `your account is under review by tech. department` There are some problems but there is no any clear explanation. So lets follow our issue on this page and inform eachother please

Seems to me, if there are many users have their accounts 'under review' -- so problem is on an exchange side.

I have read all rules a lot of times – I have not break up them. So, I can not understand, why my funds were frozen for a 3 weeks and I could not dispose of them before the fall of the whole market.

If anyone has bitinka stuff's personal emails and soc networks – pm me please. I really need help.

This is the risk of using exchanges, regardless of their trust level. As Potato Chips said, you have done nothing wrong on your end if all you did was trade, it's their problem that they are not sending out withdrawals on time.

I would suggest consistently creating new support tickets or send a support email every 2-3 days to follow up on the issue if they do not respond to you. Make sure to include previous communication with them as well to demonstrate the lack of action. Do so on a multitude of platforms, both on their support centre, and FB and twitter. It also seems like that they're based in Lima, Peru, so if you do some digging and you are in that country you may be able to take some irl action, but it's very unlikely.

But that's all you can do at the moment. Keep communications going and be patient. Based on what you've shown I would regard this as a very shady exchange with a very unresponsive support which no one should use in the future, given this incident. However, in the future, I would suggest that you also use a different exchange that has an announcement thread on bitcointalk and a good reputation based on people on the forum as well so that you can actually PM them directly on forum, instead of one that can only be reached via social media and support.

Hello!
Thank you very much for your advice – this is the way I will stick. I sent them link to this post, but they did not answer to my email. Again.

Still nothing.

Fourth week of waiting has begun.

One more business day passes without any news. But, look, what's happening on their facebook group.
A lot of people waiting their funds: fb /bitinka.

Totally saw the complaints about them on SNS, lots of ppl are waiting for days and weeks! But here they are integrating another coin instead of focusing on the current problem(s). Tsk tsk  :-\

tweet 18 hours ago

btw updates are more precise and occur frequently in their fb page, if you understand the language, you could read them.

I could only use the "see translation" option but a technical incident seems to have occured last month?

I am very sorry, what is "SNS"? I could find any reviews only on their page on a Facebook. And there are a lot of injured.

Its Social Networking Sites as far as I know- I might be wrong.
This is really the risk on using up New exchangers which doesn't even have a ANN thread on this forum.You can only rely or check out on current or previous
users feedbacks.

Correct!


They aren't actually new, from what I found:

Site was registered at 2013
Twitter: 2014
Facebook: 2013
Youtube: 2015

Ofc they could just buy an old account and change the credentials so for safety, I did a google search but this time I set the dates to 2013-2016, boom! found some articles from that time and some of them are even from reputable sites e.g. coindesk, cointelegraph. However individual reviews are mostly from twitter and facebook which dates are recent, lots of them are complaints.

It's no wonder that you haven't heard of this cause I too! This seems to be a local exchange for the residents of south america (but is also accepting ppl around the world???)

---

@op, upon checking their whois, I found a name and an address

Dear Potato Chips :)
At first, thank you very much for your research job.

When I transferred my ETH to the bitINKA, I searched the Internet for any reviews. There was a little count of information about bitINKA, including very old opinions from 14-15 years. I have not found something strange or terrible. Such a large number of users negative experience arose last month.

I found their instagram, found their faces, but I do not know what to do. They do not answer me on a facebook, they ignoring me on a email. I do not believe they did not see this thread.

I'm desperate. Seems to me, they stole my money.

Yes found that too! but filing a lawsuit maybe an overkill especially when the fees outweighs your frozen funds. Thats the only thing I could think of, besides continuously sending them a pm and going to their office-- seems like you're very far from there.

Hope you get your funds soon op  :'(

After two weeks of writing messages to them on a FB, they answered me! Really!
But just asked, how can they help me.  

But, if they answered, may be, they will processing my fund's withdraw?.. Who knows. :(

Now the fifth week of waiting has begun.

Their website bitinka.com is offline.
I still have not received my money.

Seems the site is offline but the blog.bitinka.com subdomain is working. I tried to message them on twitter regarding to this matter, I don't know if they will reply. Btw have you messaged them in there telegram group? Here https://t.me/joinchat/AAAAAEtWv5IdkfIYF-EYPA, I guess they might respond.

[EDIT] It's up now.

Its already online
http://i64.tinypic.com/4t1pfk.png

I dont know where you do able to know this exchange and why you choose up this one over those popular ones.Just a tip, once
you receive your withdrawal better not to use this exchange and stick to popular ones specially if you havent known on whats the reason of their
recent offline.

Website is online, new coins are listed, new posts on a facebook are written, but...
Support of the Bitinka do not answering and do not withdrawing cryptocurrency for more, than a month.

Bitinka stolen me 0.2 ethereum. After 5 months,0.2 ethereum is still pending to withdraw

Another user had a problem with them huh.

With this reason, it will be a really huge red flag to use that site anymore. I hope you recover your funds though.

Sixth week of waiting funds withdraw has begun.

They stolen a lot of money. Just check there facebook (can not add a screenshot pic there).

From the way it looks to me, the exchange is overlooking users who has withdrawal problems, hence you need something that will force them to accomodate you. You could try gathering a group of ppl who's willing to file a class action lawsuit, that way you guys can lessen the fees. And the team behind this exchange is not exactly unknown, so thats a good thing.

Hi! My case is very similar to yours!

Its my 4th week waiting for my funds. What can we do??

Still nothing.

is there any changes on your situation guys??

I deposited ETH to buy BCH before ABC/SV fork. I bought it.

On Thursday they gave back to account BCHABC, counted as first my purchase before fork. Without SV. They just stoled a half of my BCH. Also they gave 3 ETH (do not know how they count them), I asked system to withdraw them. Waiting till now.

Still nothing.

Thank you.

I am also waiting for almost two months. I didnt try withdrawal for a long time because they dont let. and also some of my ltc disappeared and still didnt come back.. keep in touch guys... good luck

News.
They gave me back 1/4 of my depo.
Waiting for another part for a week (withdraw request confirmed), but waiting is veeeeery long.

cool. good news.. they have said ``we will inform you by e-mail`` but still they didnt send any e-mail to me about my situation.. what about you?? and how many days did you wait for confirming on your withdrawal??

Still nothing. I got only 1/4 of my money, that I sent to bitinka.

Happy new year...

News.

Now I got 3/4 of my depo, transferred to Bitinka.

They returned me BCH ABC, but did not gave back BCH SV, that should be mine after fork.

As I see, they will not give me back SV. So, 1/4 of my money they stole...

bitinka exchange ?  i never heard of it before but it seems suspicious to me .  why would someone try an exchange that is new and unpopular ?  your only risking your money with it and now that you already have a problem with thier site , i dont think that you can recover it anymore.  

next time better trust exchange that is already popular or has already a reputation like binance , bitrex , etherdelta , yobit . and so on  .....  becuase they are more secure and legit  . ok ?  gudluck   ,

I think they could not support this fork and they failed. still there is no any BCH exchange on the platform.

in the last week They blocked my account. I read some bad news on facebook and twitter page about people who have blocked account. these people start to come together on some facebook groups and some lawyers also start to follow the issue.. They(Bitinka) said ``we had some bugs on the system`` and then they got almost all depo of these people. There is no any transparency and it is not fair!

Bitinka! we, as a user, didnt do any mistakes. We just buy and sell crypto like an ordinary investors on the market. If you have some bugs on your software, it is your fault. When we compare your total volume (if it is true!); all of these people money is not big money for you. this was your fault and you must give all this money back.

I have similar issues with them. This is a fake exchange! They just level up in their fraudulent methods.

Here are my photos of bitinka account:
https://photos.app.[Suspicious link removed]/F2HzWpvjDzBQg3no6

I was put withdrawal request for a total of 24 ETH and 2 DASH. All of them was Rejected, but cryptos was not in my account. They disappear!
Also I was having about 6300 USD there. They also disappear!
And there was an explanation on email several days later:


Strange that described situation was in exact time in the past when they can leave my account EMPTY! (of course it is not empty, they leave me with 0.05ETH :D) )
This is more ridiculous! They do not even make a little research who am I. I am software engineer and I can tell that database can not be roll back for specific users! Orders involved after specific date with other users will be in conflict. These people don't think with their brains. These lies does not make any sense.

A friend of mine also trade there. I am just waiting what will they reply to him, because I am 100% sure that explanations for me and him will not match! :)

Every exchange will little respect will not get money from its own customers! If there is a internal bug, or external hack - exchange should take responsibility about that and pay losses from its own pocket!
How I am responsible for their bugs in API and third party users using API for cheating? Why should I pay someone's mistake?

  we have problems almost for three months. Firstly they stopped all withdrawal process and started to reject people`s request. then this funds diappeared
  and finally they blocked accounts and they got all money from people`s account.. 

  They are not professional and they cant manage this issue. This is not good for their reputation for the future. All people start to complain in every
  platform. facebook, twitter, forums page etc. even there are some videos on youtube about that. This was their fault and to solve this problem now they
  get people`s money from their accounts.. really ridiculous.. when you look at; it is an old exchange and have good volume on the market but they behave
  like a rubbish.

  By the way I have also some fiat and cryptos on my account and it`s total value was almost 60k USD before they blocked my account. I really wonder
  how much funds they will leave me after their amazing  ;D investigation. It is just shame.   

I found some Peruvian journalist - Rafael Gómez Torres
Here are some interesting articles from him:
https://www.criptonoticias.com/entrevistas/usuarios-bitinka-piden-aclare-situacion-fondos/
https://www.criptonoticias.com/mercado-cambiario/bitinka-usuarios-pueden-reclamar-bienes-fueron-propiedad/

Open links with Chrome or google translate. Look at the dates and voila - there are identical explanations. :D:D
I am really sorry that I am not from Peru and I am not living in Lima.
If I was... first I will go to date their IT Manager  :-* - https://www.linkedin.com/in/giunelsy-noriega-878b1661/
I would like to meet Roger G. Benites also... just to talk...  ;D

So, I wrote to Rafael Gómez Torres just to have some more info about international customers of Bitinka.

My theory is that they work like a fx broker:
Statistics with FX traders is that 99% of users lost their money when trading, but 1% make some profit. So most of FX brokers do not make real trade between customers. They just provide price feed from global feed sources and let users play with just a numbers. In this case FX brokers get all of user money, not only fees. But they pay the profits to these 1% of users which make profits. So there are no real trades. Just 99% give some money to make 1% a little richer. But in FX world brokers do not like profitable traders.
So I just think that here situation is the same. Looking at the limit orders in exchange you can see that with relatively small volume there are a lot of offered prices like: 130.09008005. No one human will writing down such digits for just a trade. These prices are computer generated to attract people to trade. Then people which lost - they will not complain. People which make profit - complains because market cap is low this year, and BitInka does not have enough money to pay profitable traders. So what is the solution from their side? They accept some withdrawal near the initial deposit. In this way customers like me is not angry because I did not lose my initial deposit. But I did not get any cent from my hard work.
I may be wrong, but this is best business model for them. Bad traders are accepted, while profitable ones are send out and even blocked.



PS: One more thing. Their API is not working! Don't believe them that issue with API is the source of the problems. I am software engineer. I already implement a lot of other exchange APIs (Bitfinex, Bitstamp, CEX, Kraken, Bittrex....) I was try to implement their API, but authentication does not work (or their documentation differs from reality).
Also there are always strange orders like this one(:
https://imgur.com/a/Mx042Bc

Thank you for your comprehensive text.. I learned many new things on this case.. Specially date was really interesting.. If I understand true they talk about technical problem between 28 september and 5 october.. their legal notice on 23/10/2018 is also talk about the same dates..

So normally everybody has different situation in this case.. I had no account on Bitinka on this dates.. I got membership on 25 october.. then I send my funds to Bitinka and start to trade.. First I realize the problem when they rejected my withdrawal request on 6 or 7 november.. then last week on 5 january 2019 they blocked my account. still there is no any e-mail or explanation about my situation..

so the questions that I also want to ask  their IT manager are

1- I was not a member on this dates.
2- after first rejection of my request they didnt do anything on my account for 2 months.. just in the last week they blocked..
3- if the problem is going on what you guys f.cking doing between 8 am: 6 pm for two months (except holidays ;D)
4- ....
5- ....

there are many more questions but maybe it is just spending my time.. You would be right on your fx theory.. :-\

Just got email from Rafael:

Still did not return me my Bitcoin SV.

my account is still blocked. nothing new and support dont reply to my e-mail.

Hello Bitinkaineedhelp, we are BitInka and we are reviewing each case exposed in this forum. We will be analyzing and informing each user. Thank you.

On your case, to update the status of your account we will thank you for providing us by internal message the data of your user or email with which you registered on our platform. We await your response.

Whats going on here.. what a fking issue we are in.. you dont reply our e-mails and now you are following the forum cases.. I cant belive that.. You are not Bitinka.. maybe you are just a scammer.. how we know you?

You guys please never share your accounts info on this platform.. be careful..

Bitinka scam, they blocked my account 10 days ago "reviewing my operations" after I applied for withdrawal of ETH. They want documents for KYC but what we have for them? any information of this platform for legal issues?

Take my advice its for free!!!! And DONT deposit to bitinka because you are not allowed to withdraw anymore and your money will be gone and finaly they will block you they only say sorry and do nothing anymore ...its about 2 weeks now and i consider that my money is gone ..just avoid pitty exchanges like Bitinka and Bitibu and stay with the big ones   ...I grather make money with everyone then let a exchange steal all your money ...I will stay to inform you all for the scam exchanges ..just say the word like i did to you.....Another advice if you see a cheaper coin at a exchange  just dont do it  make your researche before you make a deposit.. Good luck to everyone