Bitinka Exchange do not withdraw money for 3 weeks

[ngkahbo]

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

[bL4nkcode]

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 10 ethereum

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.

[bitinkaineedhelp]

Bitinka stolen me 10 ethereum

Sixth week of waiting funds withdraw has begun.

[bitinkaineedhelp]

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

[Potato Chips]

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.

[Sr Vitorino]

Hi! My case is very similar to yours!

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

[bitinkaineedhelp]

Still nothing.

[ssrknn]

Still nothing.

is there any changes on your situation guys??

[bitinkaineedhelp]

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.

[ssrknn]

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

[bitinkaineedhelp]

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.

[ssrknn]

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??

[bitinkaineedhelp]

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...

[bitinkaineedhelp]

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...

[imstillthebest]

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   ,

[ssrknn]

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...

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.

[nixel]

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:

Dear user
Due to the large volume of operations carried out by a variety of users who work with our APIs, the security team performed an exhaustive monitoring of all transactions carried out on our platform. The result of this analysis showed that due to the incorrect configuration of the advanced options of our APIs / web services by external users, orders were generated with altered prices and outside the market range, a result that caused losses to a large number of users.
It is for this reason that all operations that any user has made, based on those orders and / or prices, were reversed to avoid further damage and, therefore, the user may regain access to his account to operate normally during the course of the day This was an exceptional case due to the handling of the new APIs on our BETA platform.
In this sense, we have updated your balance to the initial balance, that is, with the one that counted before presenting this situation.
This leads us to make a legal warning for users who decide to connect to our platform, in the event that an incident occurs again where anomalies are detected by your user and that lead to the detriment of other users, your account will be permanently blocked and reported to the local authorities. In case you are not satisfied with our policies, we invite you to generate the withdrawal of your balances and request the closure of your account.
Also, we inform you that we are working to improve and optimize our platform and avoid future problems.
We apologies for the inconvenience.  
Greetings

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 ) )
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?

[ssrknn]

  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  investigation. It is just shame.   

[nixel]

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.
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...  

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

[ssrknn]

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 )
4- ....
5- ....

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