coinsbit.io has taken all my funds without any explanation, looks like SCAM

[konungbarber]

What happened:
I was coinsbit.io exchange user since Sep 2019.

I've passed their KYC and was trading via API.

On 09th of Feb 2020 I've tried to log in into my coinsbit.io account and got this error: "Your account has been blocked".

I've emailed to support (support@coinsbit.io) and got this answer (translated from Russian):

Good afternoon! Your account is being checked by the security service, please wait.

After this I've messaged several times to support@coinsbit.io to clarify the reason for "security check", and received this answer on 16th of Feb (translated from Russian):

Hello. The team deals with your issue. Thanks for waiting.

On 17th of Mar 2020 I've tried to log into account one more time, and this time there was no error. After successful log in I've noticed that 2FA was deactivated, and all balances are 0.
There were no trades and withdrawals in "History" since 09th Feb 2020, so exchange just simply take away my funds.
I've messaged support again via on-site ticket system and got this answer:

Dear user, please provide also screenshot of your problem on our email support@coinsbit.io

I've did as support told me and still got no answer )

Scammers Profile Link:
https://bitcointalk.org/index.php?action=profile;u=2681193

Reference Link:
https://coinsbit.io

Amount Scammed:
~0.19 BTC (1200 USD), the total balance at the moment of account ban

Payment Method:
ETH, initial deposit was 1 ETH.

Proof of Payment:
https://etherscan.io/tx/0x1b5a55659a87f84337b1e461ac4743ad385dfc70b2dbc768bfc954b81b1ac9d1

PM/Chat Logs:
Email and ticket conversations:
https://imgur.com/a/uFgRkPY

Additional Notes:
Looks like coinsbit.io exchange just taking funds from user accounts without any explanation. Be careful!

[1713584217]

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[Jawhead999]

Ouch... Sorry to hear that buddy  
0.19 BTC is a large amount of money for me  
Well, next time before you want to invest / using exchange, you should check in Scam Accusations to make sure that project scam or not.

There is a thread who against Coinsbit before https://bitcointalk.org/index.php?topic=5192497

Or you can also ask in Service Discussion, maybe someone have using that project before and explain about his experience to make sure it's legit or not

[nutildah]

This seems to be an expanding trend with this exchange.

They are selectively scamming vulnerable users when they think they can get away with it.

If you can provide a few more screenshots of your conversations with them, I will show you how to open a flag against this exchange in order to inform new users of their behavior.

Your last conversation with them was pretty recent. If they don't get back to you within a week, let us know.

[konungbarber]

This seems to be an expanding trend with this exchange.

They are selectively scamming vulnerable users when they think they can get away with it.

If you can provide a few more screenshots of your conversations with them, I will show you how to open a flag against this exchange in order to inform new users of their behavior.

Your last conversation with them was pretty recent. If they don't get back to you within a week, let us know.

Hello.
Thank you, I've already created the red flag for them.
I've posted screenshots of all conversations with them at the moment. I will make an update of the situation in 1 week.

[examplens]

I'm very curious to know why you kept so much money on high-risk exchange like Coinsbit?
I find on your post history that you already have problems with p2pb2b exchange, didn't you do some research, probably you will find that p2pb2b and Coinsbit have the same owner. and this was known long before September 2019 when you start to use them. and you have an identical situation from here: https://bitcointalk.org/index.php?topic=5166605.0 (archived)
is it possible that you have not learned anything from the previous case? some users have warned you in your topic but you ignore it at all.

[JollyGood]

@ OP

You already have a thread open regarding coinsbit stealing your ETH: https://bitcointalk.org/index.php?topic=5166605

Why did you deposit more crypto there after you were scammed the first time round? Please explain.

[konungbarber]

@ OP

You already have a thread open regarding coinsbit stealing your ETH: https://bitcointalk.org/index.php?topic=5166605

Why did you deposit more crypto there after you were scammed the first time round? Please explain.

The topic you mentioned is about p2pb2b, not coinsbit.
Coinsbit still doesn't have a "red flag" here - my case is a good reason to put it.

[nutildah]

The flag created against Coinsbit is here.

I have supported it for now in hopes that after it is active, they notice it and work with you to recover your funds. I will post a link to this thread in their main thread.

[AdolfinWolf]

I've supported it for now. (At least until Coinsbit.io gives a reply to this accusation.)

I should note: you haven't really provided us with any verifiable proof. (But due to previous accusations against this exchange I think it's time for them to at least respond. If they flatly deny your case; well that's another story.)

[JollyGood]

Yes you are right, I overlooked that.

It is sad you did not know coinsbit and p2pb2b (and extrates/whitebit) are operated by the same scammers. It is tough to take being scammed twice by the same team.

The topic you mentioned is about p2pb2b, not coinsbit.
Coinsbit still doesn't have a "red flag" here - my case is a good reason to put it.

[examplens]

Yes you are right, I overlooked that.

It is sad you did not know coinsbit and p2pb2b (and extrates/whitebit) are operated by the same scammers. It is tough to take being scammed twice by the same team.

The topic you mentioned is about p2pb2b, not coinsbit.
Coinsbit still doesn't have a "red flag" here - my case is a good reason to put it.

Yeah, but in the same thread, you have warmed him to both p2pb2b and coinsbit and also you pointed to their connection. for example this post: https://bitcointalk.org/index.php?topic=5166605.msg51926088#msg51926088

some people here are really trying to expose fraudsters, but even so, many are ignored to it.

[JollyGood]

examplens you raise a valid point here.

@OP when did you realise coinsbit and p2pb2b were operated by the same scammers?

Yeah, but in the same thread, you have warmed him to both p2pb2b and coinsbit and also you pointed to their connection. for example this post: https://bitcointalk.org/index.php?topic=5166605.msg51926088#msg51926088

some people here are really trying to expose fraudsters, but even so, many are ignored to it.

[igorsergeih]

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paзницa кypcoв y ниx былa 10% я paбoтaл пo cxeмe bth\eth >btg\btc>btc\eth зa двa чaca я зapaбoтaл 1 btc c 0,004 btc!!!

пpимephttps://ibb.co/qdjtrLq и тaк дaлee этo гoвopит o тoм чтo тaм тopгoвaлcя бoт и зa кypcoм oни нe cлeдили!!!
B пpaвилax биpжи нaпиcaнo в пyнктe №3 o тoм чтo биpжa consbit нe мoжeт быть кoнтpaгeнтoм пpи cдeлки т.e.нe yчacтвoвaть в тopгoвлe https://ibb.co/nmFjnFG
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B pyccкoй вeткe я yжe coздaл тeмyhttps://bitcointalk.org/index.php?topic=5236327.0 я пытaюcь c ними cвязaтьcя нo oни мeня игнopиpyютhttps://ibb.co/ncjQKvM

B итoги y мeня нeзaкoннo oтoбpaли 44 eth!!!!

[JeromeTash]

Sorry for the Loss OP, coinsbit.io and the group(p2pb2b.io, whitebit, extrates) have no shame is scam your hard-earned money. Next time uses much popular platforms with good reputation and avoid funding this shady scams with your money. If you are not sure of the platform you would like to use, don't be shy to ask here in the forum. Members will help you out.

[JollyGood]

Here is an excellent post from bitbottrader posted in the coinsbit ANN thread but I do not want to post there because it bumps their trash scam exchange ANN thread to the top of the listings. I prefer they stay in pages 3, 4 and 5 where they belong because their sock-puppets have no impact on the listings.

You have been trying to slander the exchange for more than half a year, but contrary to your efforts, Coinsbit is becoming more and more popular every day!

No! Exchange is just trying to scam people. More and more "coinsbit is scam" topics every day:

https://bitcointalk.org/index.php?topic=5195285.0
https://bitcointalk.org/index.php?topic=5236502
https://bitcointalk.org/index.php?topic=5192497
https://bitcointalk.org/index.php?topic=5195285.msg53974810#msg53974810
https://bitcointalk.org/index.php?topic=5088392.msg52448230#msg52448230
https://bitcointalk.org/index.php?topic=5236327.0

[Lasky366]

Wow!So sad! You lost lot of money from coinsbit.Which is not good at all.

Coinsbit is still not fully a scam exchange because they still running that  but it is not a recommending exchange too. There are many good exchanges in the crypto industry to trade coins, coinsbit is not one of them. Their airdrop recent campaign looks suspicious too! Three Hundreds of dollars for verifying KYC? Seriously? Be aware of it everyone.

[konungbarber]

A small update: my balances are still 0, support keeps answering like "Dear user, our team will solve your problem soon and we will send you a message when it will be solved."

[JeromeTash]

Wow!So sad! You lost lot of money from coinsbit.Which is not good at all.

Coinsbit is still not fully a scam exchange because they still running that  but it is not a recommending exchange too.

There is nothing like being "fully a scam exchange" or "not fully a scam exchange"
Once they steal your money for no reason, then they are scammers, period. There is no in between and definitely there should be no sweet words for them. From the many complaints we have seen in the past, Coinsbit is a scam exchange and nobody should trust the exchange at all.

[examplens]

Wow!So sad! You lost lot of money from coinsbit.Which is not good at all.

Coinsbit is still not fully a scam exchange because they still running that  but it is not a recommending exchange too.

There is nothing like being "fully a scam exchange" or "not fully a scam exchange"
Once they steal your money for no reason, then they are scammers, period. There is no in between and definitely there should be no sweet words for them. From the many complaints we have seen in the past, Coinsbit is a scam exchange and nobody should trust the exchange at all.

I agree with you about "fully" and "not fully". Coinsbit is a scam there is no doubt about it.
they partially enable people to withdraw his money, it's just to show that the service works and creates the false illusion that they are not frauds. Then someone can think, hey they are not fully scamming exchange...
the truth is you never know, will you run out of funds. So, the best advice is, stay away from Coinsbit exchange.

[JollyGood]

Thank you for keeping us posted about this matter. As long as regular updates are provided by you and others that were scammed it allows us to maintain a clear picture of these scam exchanges are continuing their operations which are designed to steal crypto/money from users.

I hope these scam exchanges will close down soon otherwise they will continue to steal more and more from gullible and innocent victims.

A small update: my balances are still 0, support keeps answering like "Dear user, our team will solve your problem soon and we will send you a message when it will be solved."