FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest

[uche6215]

How freebitco went down is still a mystery to many and this is due to their past reputation, many cant believe the site is done for good and are hear hoping a miracle would happen some day/one of this days.

According to an old saying, " nothing last forever" but how it went is the main issue. I don't think I have made comment here probably in the past but not sure.  I have been seen this thread always on the first page of the board. And upon issues arising in the casino, users are actively discussing matters concerning the casino. I knew that freebitco was one of the best in the forum which was running a signature campaign. But everything just came up and the center could not withheld the structure so it felled apart.
Those people should not think that freebitco will come again and if they comes they have a lot to do to cleans their name and reclaim their reputation back to Status Quo.

[allthebitandbobs]

With that action they made it seems that they are pulling out there funds and don't have plans to settle those pending withdrawals happening in their casino.

Better for people to be aware on the situation happened so that they won't joined those people got a problem waiting their withdrawal to get process by this casino.

It's gone, we already knew that it was gone, and we have the proof that they are gone. I mean what did people expected? A company that decided not to process withdrawals, will suddenly come back and pay everyone? Of course not, the moment they said "we are not giving you your money back" that was it, nothing can be done after that. I know that it's not easy to let go, but we have to accept the reality.

The moment ANY place decides not to process withdrawals, they are gone and they are not coming back. There is really no coming back from not giving people their own money. Remember, while some of these are free money people got from the website, some people actually deposited money too, so it's hard earned money that is gone and freebitco.in I hope gets sued for it at least.

[Agbe]

The moment ANY place decides not to process withdrawals, they are gone and they are not coming back. There is really no coming back from not giving people their own money. Remember, while some of these are free money people got from the website, some people actually deposited money too, so it's hard earned money that is gone and freebitco.in I hope gets sued for it at least.

It has been long I made a post here so I don't know again what is happening here. From your comment, it's like FreeBitco is gone forever with people money. That is very bad of them. Nad if they will come back they have to pay all the outstanding withdrawal. And from the way they left the forum suddenly and their services and behavior after leaving the forum I don't think they would come back again. Those who got the free money from their token or bonuses should not feel bad though all their efforts are vain. 

[FinneysTrueVision]

Hi,

 How i get that information, is that a webpage ? To which binance adress it whent ?
I already started a complain in my local authority , so any information will be nice to add.

Anyone that is starting legal action or complain can join to telegram

Regards

It’s from https://intel.arkm.com/explorer/entity/freebitco-in. I’ve manually labelled some addresses which weren’t already tagged to get a better visualization of their recent movements.

Some addresses that I have added are
bc1q8cld3wpwqqtdq3a92fx9gjqag7en4k9wrnjkfe
0x9577AC11DE84c4efE4f6abC3A131D0f2678eb794

The first is an intermediary wallet that receives BTC from their hot wallet and then transfers it to Binance. The second is the Ethereum wallet they use to provide liquidity on Uniswap. The ETH wallet has also received a lot of USDT from Binance and Bybit.

I'll tell you why their business model won't work and why the price of the Bitcoin matters in this case.
They pay a fixed amount in dollars, as you said but the problem is that they are super low in quantity when converted to Bitcoins. Since Freebitco is a business model where users register and claim a free faucet, it will take them thousands of hours to collect enough money to withdraw them to their Bitcoin address.

When the Bitcoin's price was 100x low than it is today, it was 100 times easier to collect  0.00030000 BTC (which is the min amount necessary for withdraw). That's why their business model doesn't work today.

Their business is centered around gambling. Even in its current state they receive millions of dollars in deposits each month. When they were operating normally, it must have been tens of millions or even hundreds of millions. The amount of time it takes to reach the minimum withdrawal amount works to their benefit, because users will constantly be encouraged to gamble with those funds.

If they wanted to, the site could have kept running for years to come. Things began to fall apart when some large unexplained transfers to CEXs started happening. They kept processing withdrawals for many months, but they essentially became a ponzi, using new deposits to pay withdrawals. Now they have given up on the ponzi altogether and are just redirecting customer funds to Binance.

[dwyane36]

It has been long I made a post here so I don't know again what is happening here. From your comment, it's like FreeBitco is gone forever with people money. That is very bad of them. Nad if they will come back they have to pay all the outstanding withdrawal. And from the way they left the forum suddenly and their services and behavior after leaving the forum I don't think they would come back again. Those who got the free money from their token or bonuses should not feel bad though all their efforts are vain. 

I don’t think they’ll return to the forum or try to rebuild their reputation here. It seems clear that freebitcoin is already at rock bottom, but one thing doesn’t add up: if they really decided to pull an exit scam for good, what was the point of renewing the domain for another six years?

[Get-Paid.com]

but one thing doesn’t add up: if they really decided to pull an exit scam for good, what was the point of renewing the domain for another six years?

To keep on getting deposits, OR, if they really wanna be sophisticated, they could process small withdrawals, make users believe they are still in business and hold all large withdrawals, there are so many ways to go nasty about it.

[Betwrong]

So, it looks like this is really it this time. I remember defending FreeBitco.in 2-3 years ago when almost everyone was saying they were finished, but now with my withdrawal pending for like forever



well, I'm not defending them anymore. It's a shame really, they used to be legends. Too bad they didn't have the guts to quit with some decency — announcing their exit beforehand and giving their customers a chance to withdraw funds without any complications. It's a shame.

[winspiral]

this freebitco.in story should be taken for an example:
The more you can earn,the more is the risk loosing every thing.
So far I can say that freebitcoin is the site where I earned the most doing the less...
it's a pity because now I can less offer to my 7 members ...(I am among the seven lol)
wait and see...we cannot do more

[STT]

People saying they couldn't support that giant faucet payout have not really not got hold of why the site would have trouble.  The payout is tiny, its always been tiny and its scaled down as BTC rose.  Its tiny for the majority of people who are just collecting free and it only scales up if you are a bigger gambler or user of the site and that's fairly modest.  
  Sure you can multiply by the amount of users, I recognize its a bigger number then but still this is dwarfed by the house edge on this website which is profitable.

   The faucet is a tiny miniscule of revenue compared to what a popular site with traffic and an attractive domain name gains in gambling revenue.  The real burden of any gambling site with all the games they play is getting players, if you get the players you get the profit from the house advantage as its part of the game.  All of that easily pays for the faucet.
  Maybe with further arguments about referral being a big cost has weight but wouldn't they just adjust the % if its problem; really it doesn't make sense to walk away from players wanting to gamble.
  They need a new management sign & clear up the mess;  I've seen that done before with sites that completely messed up their business but started over.  That path is alot better then the doom and gloom predictions, without bias I see no reason not to run the site.

  The only parallel that figures with me is when you see an abandoned unused house in a prime spot in town and the owner died, did someone die here because that's how they are acting tbh.

[BayAreaCoins]

They are in full tilt scam mode.  They earn 100% vs 5% "running" their business as they are today.

Not many repeat customers, but god there might be lol.

[Tosyan12]

As a team who's running 20 faucets, and been doing it since 2017 we can share a few more important details.

The longer you've been running your faucets especially since the 201X years (FreeBitco.in started around 2013) - then the higher your risk is.

Why?

• You have old users who grabbed back then 0.01 BTC which was peanuts back then but nowadays is worth over $1000 - maybe even 1 single roll that a user got back then.

Complete nonsense. When Freebitco (FBC) started their project, they understood they were dealing with Bitcoin, essentially a foreign currency that was likely different from their local currency. When you start working with a currency different from your own, all your transactions must be conducted in that currency without conversion, otherwise the likelihood of your business collapsing is 100%. I say this as a resident of the former Soviet Union, where such scams were rampant, and people in the 1990s ate cats and dogs to survive, kept chickens in cellars or basements, and kept their money under their pillows. Buying dollars for rubles was impossible. Even in the USSR, people were jailed for this. But even this money, hidden under their pillows, was confiscated and/or devalued by the authorities. History repeated itself in 2011, 2016, and 2022, when our country (against the will of its citizens) decided to get involved in what's happening in the Uk... Ultimately, buying foreign currency in 2022 became impossible. Banks were subject to sanctions. In 2022, it was difficult to buy not only dollars but also rubles, for example, to top up a Qiwi wallet. Such transactions were subject to a 25% tax. Now imagine this situation. You buy dollars with Belarusian rubles and buy an item on AliExpress. AliExpress sells you dollars with a 25% tax plus a commission for the currency purchase, and you make the purchase. Then the item turns out to be defective. You open a dispute and receive a refund for the item in rubles. In this case, the dollars are converted into rubles. As you might have guessed, each such scam incurs a 25% loss and a conversion commission. Now imagine a different situation. You have a dollar card, you buy goods for dollars, and they return them to you in dollars. The loss is time and psychological anticipation, but at least there's no such 25% loss. I won't describe 2011 and 2016; anyone interested can study it themselves. Now, getting to the point. The FBC admins aren't fools. They also had those same 0.01 BTC at the start. Where they got it from doesn't matter. They had two sources of funding. There's already confirmed information that they were mining Bitcoin https://bitcointalk.org/index.php?topic=320959.34560 . The second source was buying Bitcoin; the Bitcoin project was too innovative for its time. Thus, they had the funds to pay users. Plus the withdrawal fee, plus the minimum that was already becoming unattainable as the rate rose and the faucet reward decreased, plus they mined Bitcoin for a period of time, plus they used to have monetization (they later removed it), plus they reduced the base reward for new users who collected the faucet, plus the margin—users' money they held onto and could have been multiplied by other projects, plus the mixer, which they also made a good profit from. So they had money, and the rising Bitcoin rate had no effect on that, and besides, they were paying less and less to new users. Plus, there was a casino where no one won.

• You offer 50% Referral revenue so effectively this user is putting you not only with a $1000 liability but with additional $500!
• There is lots of fraud when it comes to such things, please read this article:

Unlike you, they paid affiliate commissions only from the base prize, but on the other hand, I have never reached the 2nd line for your faucets for more than 1000 collections.

• Stop the hourly roll, they could have easily made it a daily roll, one roll a day, or 2-3 times a day, that's more than enough to still be considered as "Free Bitcoin" as it's still given for free, just like what we do.
  

You've turned your faucets into a casino. You had advertising and funding, albeit not very high, and some of my referrals clicked on it, and I did too sometimes. You promised to create an exchange for your cryptocurrencies, but you didn't keep your word. Inviting a referral to your project is a quest; I had to write every time and wait for it to be verified, because you still don't want to create a proper referral list. You added some rare coins that can't be exchanged on any exchange. The essence of your project is completely unclear, and as you wrote below, there is no income.

• CoinPayU said if you don't use the account for 90 days - you forfeit your balance! It might seem a bit unfair, but it gives benefits not only to the faucet operator but also to loyal users - why?
• Because those who stay loyal to you keep on being on your site - they should be rewarded. Someone who parked 0.05 BTC and forgot about it and wants to claim it after 2 years - that's not a user that gives you any benefit.

This is called theft and fraud. You're no different from FBC. I won't even mention your high minimums and fees. And all of this will lead to user churn. No normal or even abnormal user will waste time on your faucets with obscure rare coins, even in the short term. And don't spout nonsense about the community needing your model. Yes, the bets someone makes may delay your project's demise, but users are fleeing. I know what I'm talking about, because I've invited hundreds of referrals to your sites, and they all fled. And the idea of ​​taking honestly collected Satoshi is absolutely astounding. I was shocked when I visited your site some time later to see what was going on, and of course, I'm not that crazy about collecting all that again. Basically, your model doesn't pay, which is obvious. High minimums, regular confiscation of funds, and other such nonsense.

That's what we do.
Can everyone without exceptions be happy with our products? No, but there are many happy users who keep on collecting, withdrawing and it's a far more a fair game.

Thousands of complaints on Twitter about Cryptos. Yes, that's right, that's what you do. I've basically answered all the users' questions.

[Wapfika]

They are in full tilt scam mode.  They earn 100% vs 5% "running" their business as they are today.

Not many repeat customers, but god there might be lol.

As per the data shared on this thread recently regarding their wallet. There’s still some deposits made and it’s clear sign that there’s still a lot of user not totally aware about this casino current situation.

It’s understandable since this ANN thread is not yet flooded by newbie user while this casino surely has a lot of active users that used it as faucet.

I was hoping they might come back strong after the domain renewal but it’s proven they don’t have plan at all.

[Get-Paid.com]

You promised to create an exchange for your cryptocurrencies, but you didn't keep your word.

Where? We always posted we'd look into it, no guarantees. We do however keep on fulfiling our promise to keep on reducing the thresholds.

I had to write every time and wait for it to be verified, because you still don't want to create a proper referral list.

That's not a "scam", it's efficiency at best. We did and do provide it manually to all users upon request.

Basically, your model doesn't pay, which is obvious. High minimums, regular confiscation of funds, and other such nonsense.

But it is paying, all the time.
Accusing otherwise is a false accusation.

You added some rare coins that can't be exchanged on any exchange.

Come on now, name one coin we offer which cannot be exchanged, just one.
ADA? XRP? TRX? USDT? DOGE? SHIB? BFG?
All the coins we offer are convertable.

Thousands of complaints on Twitter about Cryptos. Yes, that's right, that's what you do. I've basically answered all the users' questions.

This is why we retweet posts of others who share wins and their links?

https://x.com/cryptosfaucets

Look,
You don't have to like the sites if you don't want to, and we mentioned already we can't keep all of our users happy, however we don't do what FBC did, which is simply running away and flying into a silent mode.

[ultrloa]

So, it looks like this is really it this time. I remember defending FreeBitco.in 2-3 years ago when almost everyone was saying they were finished, but now with my withdrawal pending for like forever



well, I'm not defending them anymore. It's a shame really, they used to be legends. Too bad they didn't have the guts to quit with some decency — announcing their exit beforehand and giving their customers a chance to withdraw funds without any complications. It's a shame.

Well somehow the situation is debatable since they remain to have good reputation to the community.

They manage to have attractive promotions and they deliver that's why many people defend that they are good. Their long existence and built reputation make people convince that they won't scam people. But everything change when they act like what they are showing these days and freebitco.in management shows that they don't care about their reputation and their community since what they care the most is their own profitability.

They exit without leaving some indication and many people experience problems. Not sure if there are people will still defend them but looks like they already lose their credibility and many agree that they are not a good casino to trust.

[masulum]

I was hoping they might come back strong after the domain renewal but it’s proven they don’t have plan at all.

As old Freebit users, we can no longer expect this company to survive. Pending withdrawals are a daily issue, a problem that has been a problem for the past few years. @Wetsuit was the easiest representative to resolve any issue that reported by forum members, but already disappeared for a long time, along with TheQuin.

[Hispo]

So, it looks like this is really it this time. I remember defending FreeBitco.in 2-3 years ago when almost everyone was saying they were finished, but now with my withdrawal pending for like forever



well, I'm not defending them anymore. It's a shame really, they used to be legends. Too bad they didn't have the guts to quit with some decency — announcing their exit beforehand and giving their customers a chance to withdraw funds without any complications. It's a shame.

Is that is all you got in Freebitcoin, then you should consider yourself to be fortunate.
There is no question there are people in this community and other communities who have already lost thousands or even hundred of thousands of dollars to this lack of withdrawals and apparent exit scam by these people.

I don't even understand why they would do such a thing like this if their business was fruitful and they have a very important brand already established within the Bitcoin community.

The only reason I can come up with is lack of money because of a lack of equilibrium caused by their FUN token and the high yield they were trying to offer to both those staking Bitcoin and FUN on their casino....

[fbtcvip10]

After a long time at last the premium wof issue has been fixed (at least for me).
I was getting daily wofs but I couldn't play them at all.

[hypersonic1]

This is disturbing, I can see the website using various tools but no more DNS expiration. 0.o

[HardFireMiner]

So, it looks like this is really it this time. I remember defending FreeBitco.in 2-3 years ago when almost everyone was saying they were finished, but now with my withdrawal pending for like forever



well, I'm not defending them anymore. It's a shame really, they used to be legends. Too bad they didn't have the guts to quit with some decency — announcing their exit beforehand and giving their customers a chance to withdraw funds without any complications. It's a shame.

1 year and 2 months ago they stopped to give me my WOF daily. After a couple of tickets with no result, i withdrew all my btc from there, leaving 100.000+ FUN tokens staking further. That was a mistake, best decision at that point should have been to withdraw the FUN tokens as soon as possible.

There are folks here with 1+ btc having there, like a lot of folks.

I have no expectation that they will process any withdrawal. Sad.

[Fivestar4everMVP]

So, it looks like this is really it this time. I remember defending FreeBitco.in 2-3 years ago when almost everyone was saying they were finished, but now with my withdrawal pending for like forever



well, I'm not defending them anymore. It's a shame really, they used to be legends. Too bad they didn't have the guts to quit with some decency — announcing their exit beforehand and giving their customers a chance to withdraw funds without any complications. It's a shame.

1 year and 2 months ago they stopped to give me my WOF daily. After a couple of tickets with no result, i withdrew all my btc from there, leaving 100.000+ FUN tokens staking further. That was a mistake, best decision at that point should have been to withdraw the FUN tokens as soon as possible.

There are folks here with 1+ btc having there, like a lot of folks.

I have no expectation that they will process any withdrawal. Sad.

It's quite unfortunate bud, really unfortunate and the worst part is that no one expected that freebitco would turn out the way it turned out due to how reputable the site was, like I would always say, this site was the very first place I earned my first satoshi from, I can never forget this for as long as I live and if not for any other reason, I would have always respected freebitco for this..

For those who still have bitcoin on their freebitco account and can't withdraw it at the moment, this is completely their fault, when this whole issue began, many of us here warned that every body who has a balance on the site should withdraw it, some did listen and did as advised, today, they are happy they did so early, others who didn't listen are the ones regretting now, I hope this teach all of us a lesson to be pro-active in taking action when ever a site we have our money on starts behaving funny.