[SOLVED] BITRUE.COM

[barlbi]

Amount Scammed: Solved
Website: https://www.bitrue.com/
Twitter: https://twitter.com/bitrueofficial
Telegram: https://t.me/BitrueOfficial
Trustpilot: https://www.trustpilot.com/review/www.bitrue.com

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Good evening,
after more than a year of silence, the time has come:

I was a "VIP" customer of the platform, with a 7 FIGURES ASSET invested in their PowerPiggy.
On 5 July 2020, I made a deposit from my HW of 500 BCH, but I realized only later that I had sent my preforked and unsplitted coins. This means that I sent 500 BCH + 500 BSV. At the present day, fortunately, the 500 BSV (~ 80,000 USD) are still inside my "BCH" deposit wallet as I can see on blockchair.com.
As soon as I noticed the error, I contacted istantly the customer service via email (support@bitrue.com) and on twitter (@BitrueOfficial) explaining in details the problem and offering them also a reward for the work.

However, the first answer left me thrilled: "...We're unable to help here. If we try to retrieve these funds it means we expose the private keys of our wallets temporarily which is a huge security risk that we're unwilling to take...."

Concerned more than before, after some email and some weeks:  "...The conclusion from our technical team is that it will be very difficult for us to retrieve your deposit, however as you are a VIP user of Bitrue we want to do all that we can to go the extra mile for you and help you retrieve your funds. Right now we are still discussing potential methods that will allow us to recover the deposit without putting the funds of any of our users at risk, but it will still take us some time to determine the best way forward. We ask for your patience during this time.."

Their last reply was 10 months ago: "...Sorry for the inconvenience. No ETA for the BCH wallet upgrade yet. Once there are new developments, we will notify users in time."

To be precise, a few hours ago I created a new follow-up ticket and this time they answered me (before in all these months they did nothing but ignore me and mark the tickets as "solved") "...Deeply apologize for the inconvenience. Please allow us some time to check with our internal team. Once we got feedback, we will get back to you soon".

Browsing on reddit, I found a similar situation of another guy (https://www.reddit.com/r/bitcoinsv/comments/aj3i36/lost_bsv_plz_help/) who - unlike me - managed to recover his BSV despite using a minor exchange (SouthXchange).

P.S: after 9 months (https://bitrue.zendesk.com/hc/en-001/articles/360057756494-BCH-Hard-Fork-Has-Been-Completed-BCHA-Airdrop-Coming-Soon) they still haven't distributed the BCHA hardfork.

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[r34tr783tr78]

Why did you take so long to contact them again? They have all that money from you and you do nothing for 9 months? You didnt post evidence of those amounts. Also quoting text isnt enough. Text can be misquoted. You should post scans of the emails after hiding personal information and security information like logins. I am not saying nothing about the problem. Those amounts mean you have a big problem.

[barlbi]

It is not my intention to waste time, nor to make this community lose it.

The agreements were that as soon as they updated their BCH wallet, they would get my BSV back. I have kept my silence in recent months, because I wanted to trust him... but it was not a profitable strategy. Would it have been better to spam them with messages on a daily basis?

As for the BCHA hardfork, the amount was almost irrelevant until recently: since the project changed its name to eCash (XEC), there has been a price appreciation that has brought my total credit to over $ 300,000.

In the hope of having clarified your doubts and my position, I remain available for further updates.

[Lucius]

I understand your frustration with the whole situation, but to be honest then it should be said that you made the biggest mistake because you did not make a split, and that any crypto exchange would respond similarly - more or less everyone has the opinion that such a procedure is risky and requires someone who he knows what he's doing.

As far as I know, it is possible that there is no technical possibility to help you at all - although I cannot be 100% sure that the situation is completely hopeless. Given the amount and your status on that exchange, it somehow seems to me (though I may be wrong) that they just don’t have the technical knowledge to solve that problem.

Sending unsplit BCH will result in the same amount of BSV being sent to the same address (and vice-versa). The receiving wallet may not be prepared to accept BSV into their address, so there is a possibility of loss of BSV coins. This is not an issue specific to Coinomi, as any other wallet you use is under the same risk.

[barlbi]

This is not frustration, but I think it's correct to tell my story to the community about the lack of transparency and their low skills. Also because, before this problem, I was a fully satisfied customer: I locked my crypto in their Power Piggy service and they always paid daily and on time for several months.


Surely all this was my mistake, but it was themselves, after a consultation with the technical department, who proposed me to recover the funds when they will updated the BCH wallet. A year has already passed!


Bitrue, according to Coinmarketcap, is currently the exchange n.75 with a daily trading volume of over 2B USD, certainly much larger than SouthXchange which at the time was able to help one of their clients in a situation similar to mine. I believe, or perhaps I hope, that it is not a problem of technical skills.

On the other hand, what could be their excuse regarding the non-distribution of BCHA? Why announce support for a hardfork and then not distribute it? It should be illegal.

[Lucius]

This is not frustration, but I think it's correct to tell my story to the community about the lack of transparency and their low skills.

Your decision is completely correct, you should warn other users what they can expect if something like this happens, so even though there is a great responsibility for it on the client's side, it is not right to promise something and then not fulfill it.

Bitrue, according to Coinmarketcap, is currently the exchange n.75 with a daily trading volume of over 2B USD, certainly much larger than SouthXchange which at the time was able to help one of their clients in a situation similar to mine. I believe, or perhaps I hope, that it is not a problem of technical skills.

Honestly, this is the first time I've heard of that exchange - and as far as trading volume is concerned, you should know that this data is quite unreliable and that many crypto exchanges falsely display this data to create false liquidity.

On the other hand, what could be their excuse regarding the non-distribution of BCHA? Why announce support for a hardfork and then not distribute it? It should be illegal.

Announcing something and really putting it into action are two different things, which again leads us to the fact that they are simply not technically capable of doing some things.

Trustpilot reviews are generally quite negative -> https://www.trustpilot.com/review/www.bitrue.com

[barlbi]

***** UPDATE *****

As I have always done, I report to the community that finally the BSV has been recovered with a small fee (1 BSV).

Exactly 440 days have passed, but the patience and trust in the platform paid off for my mistake.

Common sense and good manners, fortunately, prevailed over threats and lawyers.

For the sake of transparency, I will update you when the BCHA (XEC) hardfork will also be distributed to me.

[Lucius]

What can I say except that one should be persistent even when everything seems to be lost. However, it seems completely unprofessional to me that they charged you a fee for a service that you have been waiting for more than 1 year - regardless of the fact that the problem was caused by your mistake.

I hope you don't have to wait another 440 days to get that forked coins

[JeromeTash]

What can I say except that one should be persistent even when everything seems to be lost. However, it seems completely unprofessional to me that they charged you a fee for a service that you have been waiting for more than 1 year - regardless of the fact that the problem was caused by your mistake.

I hope you don't have to wait another 440 days to get that forked coins

Some exchanges don't even bother recovering the funds that have been wrongly sent to an address and not just small exchanges, most of them that do such a thing are big exchanges that are widely trusted like Kraken. I think I remember cases where Kraken and coinbase refused to recover funds of some customers, even with so much persistence.

[The Cryptovator]

Good to hear you recovered your BSV. Since it has done although after a long awaiting, hope your BCHA will be recover soon. To be honest I wasn't much aware of this exchange and I won't dare to make this kind of large amount on this exchange. When you are dealing with such as big amount try to choose transparent and reputed exchange always. Anyway thanks for sharing your experience, other users would take a lesson from that and they could handle their fund with care.

[robelneo]

Good to hear you recovered your BSV. Since it has done although after a long awaiting, hope your BCHA will be recover soon. To be honest I wasn't much aware of this exchange and I won't dare to make this kind of large amount on this exchange. When you are dealing with such as big amount try to choose transparent and reputed exchange always. Anyway thanks for sharing your experience, other users would take a lesson from that and they could handle their fund with care.

I traded one of my coins coming from a bounty campaign on this exchange it went through smooth surprise that they have an accusation here but OP got his fund but that is such a long wait, I commend OP for having that kind of patience with that huge amount others will charge them or post defamatory remarks.
This is one of the risks of trading in a small exchange I only trade on a small exchange when the coin I'm holding can only be traded on that exchange, but when it comes to the top coins in the market it's Binance, Kucoin or other large exchange.

[barlbi]

***** UPDATE *****

All funds have been recovered and the problem has been resolved.

This thread can be closed, thanks.

[JeromeTash]

***** UPDATE *****

All funds have been recovered and the problem has been resolved.

This thread can be closed, thanks.

I am glad they help you out to recover the funds, something that's so rare with most exchanges if such a mistake is made.

You don't have to wait for the mods to lock it for you. You, too, can lock the thread by going to the bottom left part of the page and click on the lock topic button

[zanezane]

***** UPDATE *****

All funds have been recovered and the problem has been resolved.

This thread can be closed, thanks.

Congratulations, if you want to close this thread, you may lock it yourself. Hopefully you're going to be more careful next time regarding this kind of thing because it's a bit foolish to fall for the same thing twice.