Bitcoin Forum

I am a customer of coinsbit.io exchange since may 2019. I've passed their KYC.

On 13th Aguest 2019 login to my account, got this error: "Your account has been blocked, please contact support"!!!

I asked to support (support@coinsbit.io) and got this answer:

""Hello!
Your account has been blocked due to suspicious activity. Right now your account is under consideration by our security team.If you have any question please let us know.""

After some days, security team answered me (security@coinsbit.io) the following mail titled NOT VALID TRADE:

""Good day!
Your account has been checked for suspicious and fraudulent activity. There were detected not a valid transaction for the BTC / USD pair, which will be rejected. The timestamp of this transaction: 2019-07-06 ??. ?? BTC will be deducted from your balance. However, you are non-suffices ?? BTC. Check-in which currency it will be easier for you to return these funds. You will be refunded with ?? dollars - the amount you spent on the transaction.  

Best regard,
Coinsbit security team""

I think they are right  :'( so I accepted that and the account was unblocked.

But, again they blocked me and in this time, the security team maild me this:

""Good day!

Your account has been checked for suspicious and fraudulent activity.

There were detected not valid transactions:

1. ETH/BTC pair, which will be rejected. The timestamp of this transaction: 2019-07-13 ??. ?? ETH will be deducted from your balance. You will be refunded with  ?? BTC- the amount you spent on the transaction.

2. LTC/BTC pair, which will be rejected. The timestamp of this transaction: 2019-07-20 ??. ?? LTC will be deducted from your balance. You will be refunded with  ?? BTC- the amount you spent on the transaction.

3. BTC/USD pair, which will be rejected. The timestamp of this transaction: 2019-07-26 ?. ?? USD will be deducted from your balance. You will be refunded with  ? BTC - the amount you spent on the transaction.

4. ETH/BTC pair, which will be rejected. The timestamp of this transaction: 2019-07-13 ?? . ?? ETH will be deducted from your balance. You will be refunded with  ?? BTC-  the amount you spent on the transaction.

5. BTC/USD pair, which will be rejected. The timestamp of this transaction: 2019-07-15 ? . ??BTC will be deducted from your balance. You will be refunded with  ?? USD - the amount you spent on the transaction.

6. ETH/BTC pair, which will be rejected. The timestamp of this transaction: 2019-07-30 ??. ?? ETH will be deducted from your balance. You will be refunded with  ?? BTC-  the amount you spent on the transaction.

However, you are non-suffices ?? ETH. Check-in which currency it will be easier for you to return these funds. It will refunded with ?? E2C""


when I saw this email I understood their intention is to take my profit! :( At the same time, a number of customers were blocked, and we all started to protest against them.
after some days the security team, again, gave this mail with a title "Investigation by financial fraud department" :

""Dear Mehdi ,

From Coinsbit side in cooperation with relevant financial security department in country jurisdiction where was registered our exchange was launched investigation of financial fraud with stolen cryptocurrency whitch was detected by our security department.

You personally are not on investigation but your account was a part of nonlegal action - trading with user under investigation.
It was necessary to blocked your account until all circumstances will clarified.

Certain transactions from your old account will be frozen due to their involvement in the investigation of financial fraud. The funds that you spent for these transactions will be refunded to you. And as a sign of compensation for inconvenience, we will credit you the funds spent to ensure these transactions in double size.

This process can take quite a lot of time and we value you as our client and do not want you to experience any inconveniences or worried about your money. This is why we give you possibility to register a brand new account only with the same KYC data to continue your trading with balance on before financial fraud date.

Once you do so, please, message us at security@coinsbit.io and we will transfer all your balance as of  22.08.2019  from your old account to the new one.


On behalf of the company we would like to apologize for the inconveniences. We appreciate your cooperation and understanding in this matter.

Thanks for support,
Coinsbit security department!""

They asked me to create a new account!!!!!!!! it's very strange request. So if any one can help me to get me right, please don't hesitate. Thanks

I think it would be a waste of time and I won't be surprised If they suspend the new account and say it's because your broke their TOS (https://i.imgur.com/bqy1U14.png).

I'm afraid your fund sare lost because by reading the emails, you can tell that they clearly have no intention to return the funds back. You can't see their official thread on the forums, because it was moved to the Trashcan (as they hired people to bump it and leave good reviews) but here are few screenshots[1][2] to look at (In my opinion, JollyGood and AdolfinWolf did a great job).

[1] http://epvpimg.com/EwHnbab
[2] http://epvpimg.com/edQMbab

Are those said not valid transactions are you really did it with your accounts? You remembered that you did those trades on their exchange?
This is my firstime to heard this kind of problem on a exchange.

And, this thread should be in Scam Accusation, just move the thread and let's hear some opinion of others and maybe there are some bitcointalk account owned by coinsbit.

I got order on a pair coin like bye ETH/USD, in lower price. so if it has performed, my transaction have had ok. all mentioned transactions were performed but they have cancelled them and get my profit back!!   

Thanks for your information, I check them.

Do you make trade only July?

how much you deposited in this exchange and can you specify the day you deposited something in this exchange?

I want to understand this:


Is it possible for someone to manipulate trade? I have no technical knowledge in this area so I want to understand what they mean by "suspicious and fraudulent activity"

I maked trade daily on this exchange from May until they blocked me. I just make an Order on pair coins for example BTC/USD for Bid Or Ask (lower or upper the price). If an Order was performed it means a buyer and seller agree to do that Order. I dont understand the Coinsbit team reason! 
 
Now, I dont have access to my account but, as I know, I deposited these coins: 1ETH (3th May) and about 0.047 BTC (a some of it in 20 jul) and 16000E2C (in different dates)

If that means, the user itself can manipulate it? Or the admin side of the exchange do the manipulation?

Or if this user done those, since he/she said that
How the manipulation can happen there? Or maybe mehdi1296 has multiple accounts created? Still, manipulation still can't be happen there

Do you or have you ever used a VPN or something to log into your account? Maybe that they suspect you from trading back and forth with yourself because the same IP was being used by other traders at one point in time.

I find it quite disturbing that exchanges in general vaguely describe the 'reason' for the block, but never go into detail about what actually happened so you can prevent making the same mistake in the future. Horrible service.

Hm, I'm trade here already 7 month and any problems yet. Maybe you really need to follow the instructions. I think it can help to solve this situation. Also such activity can be because you created orders with very low or very high prices and it looks strange. Just my opinion ;)

Anyway, good luck and have a great day ::) ;)

Why did you use this shitty exchange?

I think you know something. Maybe you're a friend or member of Exchange   ???
please show me this instruction!! where you said that creating order with very low price is illegal!
I have a customer of Binance, Hitbtc, yobit, and ... for more than 2 year but they don't act like  this


[/quote]

Hm, I'm trade here already 7 month and any problems yet. Maybe you really need to follow the instructions. I think it can help to solve this situation. Also such activity can be because you created orders with very low or very high prices and it looks strange. Just my opinion ;)

Anyway, good luck and have a great day ::) ;)
[/quote]

Bcz I needed to trade on E2C just listed in this exchange

I don't understand your angry. Every exchanges have some problems. But , in my opinion, Coinsbit is not so bad, that's all I want to say

Hey guys!  ;) Just read that topic and I want to say that my friend was blocked too, but after a few day his account was openned again. That was done because he  tried to do margin trading.... Maybe that's the same situation? Some exchanges don't allow margin..

I am waiting for any Valid Document for trade, please...

Hi, thanks... what is margin trading? I know this Exchange has not any margin trading.

Two newbies (kryptoklerk, vlasrodz) with no past posts other than what's on this thread suddenly shows up defending coinsbit. I see... The alt accounts are already here.

Their blocked due to suspicious activity statement seems to be just an excuse to hold your funds as they're dragging it. If they really wanted to return the funds, there's no need to create a new acc, withdrawing it to any of your chosen address should be fine since as they said "You personally are not on investigation" which was also strange to me 'cause you're using that account, how can you not be a part of it LOL. There's probably no suspected fraud or anything.

Yess, They (kryptoklerk and vlasrodz) want to support their Exchange. I wish they were fixing some bugs on their website instead of this.

100% you're right bro. Coinsbit is the most common exchange. I can’t say that he is TOP-level, but I have no complaints about him.

I do not protect this exchange, but it is not clear to me why out of thousands of other users they accused you of fraud. Maybe you tried to artificially increase trading volumes from multiple accounts?

I can not believe that the exchange interferes with the trading of traders. It seems to me that physically they are not able to track all transactions. Imagine how many operations this happens every minute.

Why is the exchange shitty? He is the same as the others. Not better and not worse.

It is very suspicious that such an exchange with a ready-made rating in the market decided to intervene in the trade itself, does not this seem like a strange decision to you? and why do they need it

I don’t know why such negative reviews about him, when there are satisfied people who use without any problems

Here the situation is this, from two sides, that is, the error can be both from the side of the user and from the exchange, but the situation needs to be examined in more detail

If there are experienced people, then you can close this question, you just need to contact the exchange administration directly and decide everything as it should, i don’t think there are hopeless situations

In any case, the exchange should solve your wallet problem, because it simply cannot do it without any reason, since they have been on the market for a long time

It’s interesting how quickly the information is resolved, because efficiency is also the main component of any project

I thought that the banal antifrod system worked, which blocks the wallet, and this happens because you can banally throw money into the drug dealer’s wallet, you need to be careful with this

But this can all be solved, you just need to go through the wallet verification and submit your documents

A frequent occurrence on many exchanges, with this you generally need to be careful, but not all exchanges on the scam market

I am currently very careful in the market, since it is dangerous to invest somewhere, even a scam project may be hidden behind a good rating, but this exchange is normal, i personally did not notice any problems

curiously that they are not the only ones who praise this exchange, for example this review:

https://www.cryptocompare.com/exchanges/coinsbit/forum/USD

There are 27 comments and all comments speak well of this exchange, something very strange


most of these exchanges hardly admit their mistakes, for them to admit their mistakes would be the same as being humiliating themselves

I wonder why it is so established in our world, it's just that they are most likely afraid of their rating

In any case, huge exchanges, on the contrary, go to meet the user and do everything possible to return the money to him and his wallet

But there is such a nuance that they may not even unban your account, since they have a lot of users on the platform, no one will notice

What exchanges would you recommend for future use? so that there are no problems with them

A lot of people use such exchanges as Binance, Coinbase, these are very popular in the market

I had experience with the COINBACE exchange, i used it and there were no complaints, only my friend was blocked with a wallet, it’s not clear what

The usual antifraud system, but in any case, they had to withdraw money to him.

But exchanges may not always make such concessions, some block for free, that is, your money can no longer be withdrawn

If you do not break the rules and do everything honestly, then in fact the chance to get a wallet ban is minimal, and these are rare cases

I also use them, sometimes i trade there, there are no questions, exchanges are certainly worth their attention, but it is also worth paying attention to young exchangers

I also sometimes use this Coinsbit exchange. There were no problems. But as the main exchange, I use another exchange. But I can’t say anything bad about Coinsbit.

I know that this Coinsbit exchange is now holding a grand campaign - if a new user signs up through your referral link, you will receive a bonus of 2,000 CNB coins.

Coinsbit https://coinsbit.io/ Scam accusation threads

https://bitcointalk.org/index.php?topic=5194551

https://bitcointalk.org/index.php?topic=5192497

https://bitcointalk.org/index.php?topic=5195285

https://bitcointalk.org/index.php?topic=5190706

I see that all these topics are created by you. Why are you so zealously trying to denigrate this project? Have you been their employee? Or an investor? Did they trick you? Where does this position come from? You are too biased in your accusations!

Or maybe he just wants to warn the community so they don't get scammed? His accusations look pretty valid.

What I would like to know is why have you been inactive since the 3rd of august and then came back to the only post about Coinsbit?  ::)

If you look at the allegations against the Coinsbit exchange, you will not see a single exposed fact. Only one solid blah blah blah from competitors and ill-wishers.

Coinsbit is a normal exchange. This will tell you any person who at least once really used their services!

You're right! Coinsbit is really a normal exchange. Of course, he is not so famous yet and many are afraid to trade on new exchanges. But gradually this exchange is gaining new users!

Already more than 500 thousand users have registered on the Coinsbit exchange. So I would not say that Coinsbit is a young and little-known exchange.

You're right! Coinsbit is one of the fastest growing cryptocurrency exchanges. At this rate, this exchange will soon enter the top 10 exchanges in the world!

Dear all
Today is 29 November and yesterday, once again, my account has been blocked :'(. The last time I was blocked, after cancelling some of my transactions that they want, they transferred my balance to a new created account. This took about 20 days.
Exchange stuff and employees reading this post please unlock my account faster this time :(.

I think that it makes sense for you to turn to the official announcing thread of Coinsbit exchange. Representatives of the exchange are present there and I think they will hear your request.

Sigh. They are clearly just stalling time. Better open a scam accusation thread too (https://bitcointalk.org/index.php?topic=260073.0) @op and lock this thread. You'll get better exposure for your topic.


For the record, they have been reading this thread all along, and in response to that, they have sent a battalion of sockpuppets to shill in this thread. and you seem to be one of them.

I just saw examples when users turned to the official thread of Coinsbit exchange with their problems and the technical department helped them. Therefore, I advised the person to write in the ann topic.

My point was if they read it, they should respond, doesn't matter if the post is in their ANN or not.

I skimmed through the recent pages and found no staff who facilitates user problems and/or inquiries. and with how much posts the shillers are doing every day, op's problem will likely get pushed back. I wouldn't count on it much.

There were several examples when users wrote in the ann-thread about some problems and after some time wrote that the technical department solved their problem.

Uhh, that doesn't necessarily mean they were solved because they posted in the ANN as there were no enough signs of it and if they designated staff/s here to cater problems, why would they not post?

I think that representatives of the Coinsbit exchange are constantly in the ann-thread and this is a great way to conduct a direct discussion with them. Is it good when there is direct contact between exchange employees and ordinary users ?! It seems to me that this is great!