Coinsbit.io has blocked my account

[mehdi1296]

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

[OmegaStarScream]

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.

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

[GreatArkansas]

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.

[mehdi1296]

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!!   

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.

[mehdi1296]

Thanks for your information, I check them.

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.

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

[Slow death]

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"!!!

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:

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.

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"

[mehdi1296]

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)

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"!!!

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:

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.

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"

[GreatArkansas]

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"

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

"I just make an Order on pair coins for example BTC/USD for Bid Or Ask (lower or upper the price). "

How the manipulation can happen there? Or maybe mehdi1296 has multiple accounts created? Still, manipulation still can't be happen there

[BitHodler]

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)

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.

[vlasrodz]

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

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

[2xHR]

Why did you use this shitty exchange?

[mehdi1296]

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]

[mehdi1296]

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

Why did you use this shitty exchange?

[vlasrodz]

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

[kryptoklerk]

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..

[mehdi1296]

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

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

[mehdi1296]

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

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..

[Potato Chips]

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.

[mehdi1296]

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

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.

[1983MurIvan]

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

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.