Bitsane, a crypto coin exchange based in Ireland, dissolved into thin air on June 17, becoming the biggest crypto scam of 2019. This crypto exchange has been working since 2016 and offered trades for not only crypto-to-crypto but also crypto-to-fiat. As of November 2017, the exchange was the 124th in the list of crypto exchanges in CoinMarketCap. 

As the website disappeared, millions of euros did too. Over a hundred people lost from $5,600 to $150,000 in this scam. 

Users complained that they attempted to convert XRP to BTC or fiat but a message kept appearing reading that the website was temporarily disabled. The users tried to access the website once again, however, it had already vanished.

After the website’s collapse, the Twitter and Facebook accounts were also deleted and the employees vanished too. Bitsane users from the United States have already filed complaints to the Federal Bureau of Investigation (FBI), however, they aren’t hopeful that their funds would be returned

According to data from May 30, Bitsane had 240 thousand registered users. The Irish Central Bank declared that Bitsane wasn’t registered with them.

According to the Criminal Assets Bureau (CAB), the number of crypto coin transactions with criminals has increased. The organization has many trained professionals for dealing with any type of asset including crypto coins. The CAB also cooperates with other agencies around Europe and assists with issues dealing with cryptocurrency. 

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