Topic: [SCAM] ItBit.com - Account disabled and BTC stolen, not answering emails... (Read 2961 times)

Any company that is quick to take your money but asks you a million questions (such as employment, annual income, where you got the money from, etc. ) when you try to get it out, and then asks you more questions, and then promises to release funds but won't,  is a SCAM. Pure and Simple. Itbit, as I mentioned in a previous post, is a filthy scamming pig dressed in a $2000 suit. There are no "institutions" trading on it. What institutions? Name one that trades bitcoin? FDIC insured? By which banks? Why aren't the bitcoins you buy held in an online wallet that you can send yourself to another address, as is the case with more legitimate platforms, like Localbitcoins? Why don't they answer the phone? Why don't they send you a copy of their legal documents showing their claimed "full asset protection"?

The most insidious thing about Itbit is that they do everything to sound safer, more legitimate, more regulated, etc. than other exhanges. That is, until you try to withdraw your funds. Then lots of intrusive questions, and finally, crickets. They are designed to give you a false sense of security. That is the whole point of their website. One other thing should be mentioned: there are a number of Bitcoin exchange review websites on the net that appear to be impartial but are really funded by the very shady exchanges that they are reviewing. To make them seem legitimate, the reviews throw in more established and trusted exchanges like Kraken, but they make sure that these get a lower rating than the many fraudulent exchanges out there. The bottom line is that Bitcoin is a magnet for fraud. There are ways and means to buy, sell, and hold BTC securely, but you better start small and learn the ropes first or you will get scammed by companies like Itbit.

I had only heard good things about ItBit from the two people I know that have used the service. It's not clear from your post: how long have you been waiting for them to respond after submitting the back of license/utility bill/bank statement? Hopefully just a few days? It took me a week to get a response from Coinbase for a recent problem, and even then they clearly didn't bother to read my ticket.

Unfortunately, there are verification delays on all exchanges right now (at least for full, non-automated verification that involves documents and photographs). Some people are waiting months to get verified on Poloniex, for instance.

I did a high volume buy with itbit for about 23 btc. They were quick to approve my account, answered verification questions and then sent me an email to that effect. I went into my bank and proceeded to do a wire transfer. Wire complete and about 6 hrs later( very nerve racking time frame) i got an email stating that my money had deposited. I tried to do a withdrawal , after waiting for about 4 hours and not seeing any broadcast to the blockchain, i checked my email and i got this message from itbit SEP 25, 2017 | 06:14PM UTC Elana Glasser replied: Hi Wa*****, I’m contacting you in regards to your XBT withdrawal. Before we process this, we will need to confirm your identity. Please submit an attachment of a photo ID alongside your face. Thank you. itBit
I submitted my ID and face alongside and about 2 hours later i received this email.
SEP 25, 2017 | 09:23PM UTC Elana Glasser replied: Thank you for your response. We need some more information to verify your transaction. Would you please be able to provide us with proof of residence (such as a utility bill) and a picture of the back of your license. Can you also please confirm why your address on your license does not match the address on your account? Thank you. itBit
I submitted another email with the back of my license, a utility bill, a bank statement showing that my address on my account matches that of my license and then......... Radio Silence . I have not heard from them since. Understandably i am freaking out. I have called their customer service multiple times and left messages but still no response. I have also sent multiple emails. Any advise?

The question is, why would you use that company without doing any research about it first?  This thread was here for a year and a half now, you should have googled! :-/

Stay away from this company! They are very quick to respond to any questions related to injecting funds in their system, very very accommodating and will go out of the way to check it for you and expedite the whole process of verifying your documents. Sent in my Singapore IC and my utility bill. They quickly verified me and lifted my limits. But after trading and when the time came that I wanted to withdraw 9.1 bitcoins to my external wallet, they are making me jump through hoops. At the published release date and time, I get the message "your bitcoins are being broadcase. it can take up to two hours" and then two hours later I get a new message "the bitcoins will be sent to the blockchain the following business day".

Their principle of doing business goes 180 degrees against the very fundamental purpose and intention of bitcoin which is to SPEED up payment transactions. They do not broadcast or send bitcoins on weekends. They send bitcoins the following business day after you send in the request. They have cut-off times. A SWIFT transfer is much faster than paying anything with their flawed system! I should have relied on my instincts and sent my $3000 to Bitstamp instead.

Do NOT use this exchange!

I wonder how much they scammed this time ...

any news?

Ah I was about to make an account on their site, but I guess I will wait and see how it works out for you guys.

I will definitely be monitoring this thread and would love updates, before I use their service.

From the likes of it, they need help with their customer service.

I have similar problem

I sended  7.5 BTC in 3 transaction, what not credited

But the support answered, and now I wait and hope

what about the 1BTC that was left in your account?

Did you manage to get it back?

NICE !, you disable account without any contact and then you apologize when you see a bad comment on bitcointalk forums, so if I hadn't posted here, my account would have been blocked forever right

Let me resume, as you checked, I created 2 accounts with same IP Address (different emails), one for company and one for me (particular), I sent the documents for the verification of me (particular) and then you approved the verification but I NEVER sent any documents for my company as I don't want to deal with my company but only as a PARTICULAR, and BECAUSE you never received any documents for the company account (the second account I never used because I'm using my PARTICULAR account), you decided to BLOCK and DISABLE without ANY NOTIFICATION my PARTICULAR account, right Is it a normal behaviour for company that calls herself a company for SERIOUS INVESTORS ?

I registered a month ago, send all documents, got verified (with ID and proof of address), wired 25000 USD, bought 15 BTC and then the problems started, I could only wire 2 BTC / day as their limit is 2500 USD per day.

So I emailed them and asked for a limit increase, which they accepted to increase because I use the two factor authentification, so they increased my limit to 10 BTC per day so I wired 10 BTC, received only 9.67 BTC and today when I tryed to login to my account to wire the 1 BTC left, I could see a nice message :


So either they blocked my account and stole me my 1 BTC left on the account or I don't know !

I already sent 2 emails in the last 24 hours and I had NO ANSWER

I don't know what's going on with this company but their work methods are not serious, blocking an account for no reason and scamming me 1 BTC WTF I would not advise ANYONE to use their website as you may get scammed as well !

UPDATE : Still no answer for 48 hours now after 5 emails sent (I even tryed their online web form to contact them), so maybe they bankrupt ? If someone knows something please.