The strangest exchange is on coinmarketcap!!

[Crypto123 0]

The strangest exchange is on coinmarketcap!!
In fact this is the weirdest case I have seen on coinmarketcap, an existing exchange and trading volume 0
The official website is closed and all social media accounts are also closed
This link is on the market cap
https://coinmarketcap.com/exchanges/bitsane/

Looking for this exchange on the Internet I found out that it is not a new exchange but an old one that was established since 2016 in Ireland
It reached its peak of glory in 2018 when it was mentioned in the CNBC newscast as a place to buy XRP.
But several months ago in June 2019, exchange suddenly shut down it website and all social media accounts and disappeared with user money.
I am not surprised that it was added to coinmarketcap because it was a powerful exchange  one day and because it is known that it has a little money
And support can be added to any platform or currency, but surprisingly, it remains on the site without deletion, especially after about 1 year have passed. This is a negative point for this coinmarketcap.
Which many rely on in analyzing currencies and evaluating exchanges.
In my opinion, this is another proof that any currency or exchange should not be trusted once it is listed on coinmarketcap, especially if it is a new project

[rekter 8129]

Well, they keep listing dead coins, so i am not surprised that dead exchanges are listed too. At least we can see the data, when there isn't even faked volume and we can assume it's dead even without clicking the link.

 

Then again, no-one is probably telling them that an exchange died or that some deserted blockchain doesn't move anymore it would be impossible to follow all the projects.

[Crypto123 0]

39 minutes ago, rekter said:

Well, they keep listing dead coins, so i am not surprised that dead exchanges are listed too. At least we can see the data, when there isn't even faked volume and we can assume it's dead even without clicking the link.

 

Then again, no-one is probably telling them that an exchange died or that some deserted blockchain doesn't move anymore it would be impossible to follow all the projects.

Yes, there are a lot of fraudulent projects, scams and dead coins listed on the CoinMarketCap website. Yes, this exchange stole people's money and closed the site although it was a known exchange before, but also dozens of coins and scam exchanges are still listed on the site.

[rekter 8129]

9 minutes ago, Crypto123 said:

Yes, there are a lot of fraudulent projects, scams and dead coins listed on the CoinMarketCap website. Yes, this exchange stole people's money and closed the site although it was a known exchange before, but also dozens of coins and scam exchanges are still listed on the site.

It would be great if they implemented some sort of scam accusation system, but that would probably weaponized to be used to troll projects. On bigger coins they have implemented ratings. (scroll down to see)

Edited April 18, 2020 by rekter
wording

[bliznec 22268]

Maybe the exchange of this exchange is simply forgotten, someone created their own exchange, but could not use it. It is not very good when the exchange is forgotten. 

[Crypto123 0]

35 minutes ago, rekter said:

It would be great if they implemented some sort of scam accusation system, but that would probably weaponized to be used to troll projects. On bigger coins they have implemented ratings. (scroll down to see)

Thank you for this important information, in fact I was not about these reviews that they did, this would be great if they applied it widely even though the CoinMarketCap site announced that it is disclaiming these evaluations and that it depends on external parties.
As you can see in this quote from the site:

Quote

Disclaimer: Ratings are calculated by third party organizations and are not influenced or endorsed by CoinMarketCap in any way.

Also I think it is necessary for the CoinMarketCap  site to review and remove dead and scam coins as usually happen in large exchanges.

[Jessica Karren 1242]

Exactly we just can trust on any project and exchange based on that it is listed at coinmarketcap, it's not the way to know about its credibility, instead we should do our own research about that exchange or project before investing in it.

[DokAgsikap 145]

4 hours ago, rekter said:

Well, they keep listing dead coins, so i am not surprised that dead exchanges are listed too. At least we can see the data, when there isn't even faked volume and we can assume it's dead even without clicking the link.

 

Then again, no-one is probably telling them that an exchange died or that some deserted blockchain doesn't move anymore it would be impossible to follow all the projects.

I think, you should not use that exchange for now, not unless it has a progress and an update, it is better for your fund security.

[magd 5231]

This is unfortunate for those who have put their money and traded on this platform because it is a loss of everything, which is why I always recommend choosing the famous and internationally known platform that is directly linked to the cryptocurrency and its companies.

[rekter 8129]

1 hour ago, DokAgsikap said:

I think, you should not use that exchange for now, not unless it has a progress and an update, it is better for your fund security.

Did you read the op? The exchange doesn't even exist anymore so how could you use it. Also i am not sure why you are replying to me, because i wasn't even talking about using it but coinmarketcap listings.

[DokAgsikap 145]

2 minutes ago, rekter said:

Did you read the op? The exchange doesn't even exist anymore so how could you use it. Also i am not sure why you are replying to me, because i wasn't even talking about using it but coinmarketcap listings.

Did you visit the website link? they change the name but the exchange thing is still there. Im just quoting your reply because I think you are referring to the coinmarketcap, I am referring to the exchange itself. We have a misunderstanding, but we are only reminding the OP and other that do not trust new exchange or those who are listed in the coinmarketcap.

[malik6314193 5449]

How this old exchange can be scam their users. It is really strange. As you said this exchange is four year old and so old exchange can scam with users.?

[Crypto123 0]

2 hours ago, magd said:

This is unfortunate for those who have put their money and traded on this platform because it is a loss of everything, which is why I always recommend choosing the famous and internationally known platform that is directly linked to the cryptocurrency and its companies.

Yes, one must improve the choice of exchange because this is a very sensitive matter, if he deposited his money in an unreliable exchange he will lose everything, this exchange had a good reputation in previous years but no one knows what happened until the money was stolen and closed.

[Saj555 2250]

Coinmarketcap is a very ultimate exchange platform. They list all the legit coins and exchanges with the right and truthful details about the currencies. They also show us the dead coins with the exact volume and also shows the dead exchanges with the volume also. There is nothing should be surprised of about it. People who visits the coinmarket cap know this better. 

[Crypto123 0]

11 hours ago, Saj555 said:

Coinmarketcap is a very ultimate exchange platform. They list all the legit coins and exchanges with the right and truthful details about the currencies. They also show us the dead coins with the exact volume and also shows the dead exchanges with the volume also. There is nothing should be surprised of about it. People who visits the coinmarket cap know this better. 

Your words may be true for dead currencies and exchanges, but what about the currencies or scam exchanges listed on Coinmarketcap ? People have confidence in the Coinmarketcap site and the fact that the currency listed on the site gives it credibility and people invest in it and if it is a scam they fall victim to it. So I think the site should do the cleaning every time.

[George10 9932]

Yes you are right any exchange out there listed on coinmarketcap shouldn't be trusted be it new or old because it can shut down without prior notice whenever it wants like the one you shared above so it went away with people's money what a shame.

[Zues 1069]

On 4/18/2020 at 8:41 AM, Crypto123 said:

The strangest exchange is on coinmarketcap!!
In fact this is the weirdest case I have seen on coinmarketcap, an existing exchange and trading volume 0
The official website is closed and all social media accounts are also closed
This link is on the market cap
https://coinmarketcap.com/exchanges/bitsane/

Looking for this exchange on the Internet I found out that it is not a new exchange but an old one that was established since 2016 in Ireland
It reached its peak of glory in 2018 when it was mentioned in the CNBC newscast as a place to buy XRP.
But several months ago in June 2019, exchange suddenly shut down it website and all social media accounts and disappeared with user money.
I am not surprised that it was added to coinmarketcap because it was a powerful exchange  one day and because it is known that it has a little money
And support can be added to any platform or currency, but surprisingly, it remains on the site without deletion, especially after about 1 year have passed. This is a negative point for this coinmarketcap.
Which many rely on in analyzing currencies and evaluating exchanges.
In my opinion, this is another proof that any currency or exchange should not be trusted once it is listed on coinmarketcap, especially if it is a new project

I think that they are still using dead coins and including it in the exchange. It became weird and still getting weirder because thay are still including dead coins in stock exchange but they shouldnt and they should focus on the new. 

[Crypto123 0]

1 hour ago, Zues said:

I think that they are still using dead coins and including it in the exchange. It became weird and still getting weirder because thay are still including dead coins in stock exchange but they shouldnt and they should focus on the new. 

 

1 hour ago, Jump said:

Wow that is really he because I can't encounter a exchange as weird like that. Maybe they are still including dead coins that must be excluded because there will be a flaw and mistake on the exchange. I hope that they stop using the dead coins.

Yes, it is really unfortunate to see coins, dead exchanges, or scam still on the coinmarketcap site, which is the first site that most people get information from, so I think they have to clean these dead coins every period from the CMC.

[Crypto123 0]

1 hour ago, UT2001 said:

This exchange is likely going to disappear from coinmarketcap as well fairly soon as when they close down there is general a 0% trade volume for extended days on the review sites and then they disappear from there.

I don't think so, the exchange has been closed for more than a year and CMC knows this but they have not yet removed it, they must clean up the site every period in order to maintain their reputation as the best site for information on cryptocurrencies.

[Honny143 13612]

I use coinmarketcap for to know the coin prices and search exchange, but this type activities not good for any user, because already this exchange shut down and do fraudulent, then why they still mentioned this exchange in their site, I know so many fake coins and fake exchange listed in coinmaeketcap,but shut down exchange remove from their list.

[CryptoMaxim 2372]

It is better not to use such exchanges. After all, there are many verified exchanges where there are rare tokens and coins. I avoid such exchanges.

[Crypto123 0]

53 minutes ago, Sty1e said:

listen there are very large exchanges with wallets that steal money or sometimes the exchange itself in individual cases may not be honest,I was stolen $ 278 with binance in may 2019, tech support said that I myself transferred my sersdvta and they will not help me,but how can one person or 10 go against such a giant?

Sorry for your loss, my friend, or I am in favor of your words. Yes, this is a big second problem. There are dozens of cases of individual theft in exchanges even if it is as big as Binance where you lose your currencies and can not do anything, these cases unfortunately exist.

[Treat1234 0]

We don't need to fully trust any exchanges in cryptocurrency, they always disappoint and they will bring fake reasons to cover their cheating, it is better to hold your coins in your personal wallets

[tienda 8776]

There are a lot of website exchanges created in the internet, some of them are created by scammers and others or the majority are not created by the expert, so the simple person create a such website exchange at the end will quit it for no able to subside it.

 

 

[kadayakito 765]

I did not find anything strange. it cannot afford to sustain and survive, it will die. it's not a very common exchange, maybe it has had a good development period but it lists dead coins that nobody will work with. and it died to be true.