Recently, the cryptoexchange Bitpaction (website https://bitpaction.com) limited the withdrawal of funds from its deposits.
The following announcement was posted on the exchange’s website 14/07/2018:
“Server permanent shutdown notification.
Avatar Bitpaction official
2 days ago Updated
Due to the poor management of the company and the loss of accounts by attack during this period, the website could no longer maintain normal operations. The trading function will be permanently closed on July 13th of this month, the withdrawal channel will be reserved. Please withdraw the remaining tokens as soon as possible. The entire server will be permanently closed on July 15th of this month.
We are deeply sorry for this inconvenience».
As of 07/16/2018 this section of the site is unavailable.
Bitpaction is a centralized exchange established in late Q1 2018 — Early Q2 2018, raising initial funds through an ICO. There is little information regarding their total raise or the team behind the project. Their ICO was held from 2/1/2018–2/28/2018 and is officially listed as Singapore based.
Bitpaction found many users through small cap projects that were not listed on Top 10 exchanges. They grew their base though bounty programs and airdrops to members.
From 07/14/2018 the founders of the exchange (nicks in telegrams Oliver https://t.me/NNNIEN, Ryan https://t.me/Ryanh214, Sonny Zhang https://t.me/foodbig) stopped responding to messages.
First, the exchange raised the commission for withdrawing funds from deposits, then the withdrawal became completely impossible (transactions are in the “pending” stage).
Those who support the exchange at support@Bitpaction.com do not answer.
On the telegram chat, the person with the nickname https://t.me/BitPaction_SupportCentre requires users to deposit additional money on the exchange, allegedly with a view to returning their funds.
At the moment, many people cannot withdraw their funds from the crypto exchange. An initiative group of ones affected by the actions of the Bitpaction Exchange has created a chat in a telegram where people are encouraged to complain about the exchange’s actions in the SES or other controlling bodies. Address of this telegram chat: https://t.me/BitPaction_wanna_to_jail.
Also you can report about this here:
This is the form of Blockchain Crime Bureau (BCB is an anonymous and independent investigative team founded to protect the innovative sector of blockchain and cryptocurrency).
Only by joint efforts of the victims guilty persons can be brought to justice for their actions.