BitInka
We are investigating BitInka for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury.
PARTIES INVOLVED : BitInka
ALLEGATIONS : Perjury, Fraud, Impersonation
INCIDENT DATE : 06 April 2022
INVESTIGATED BY : Ethan Katz
TOOLS USED : Lumen, FakeDMCA, SecurityTrails
CASE NO : 8425/A/2024
CRIME TYPE : Intellectual Property Scam
PUBLISHED ON : 22 Nov 2024
Is This About You?
What We Are Investigating?
We are investigating BitInka for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury
We are investigating BitInka for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury
What are they trying to censor
BitInka, a South American cryptocurrency exchange, has faced a series of allegations, red flags, and adverse news over the years, raising concerns about its operations, transparency, and ethical practices. These issues have significantly tarnished its reputation, potentially motivating the company to suppress damaging information—even through illicit means.
Major Allegations and Red Flags
Lack of Regulatory Compliance:
BitInka has been criticized for operating in a regulatory gray area. Reports suggest that the platform has not consistently adhered to anti-money laundering (AML) and know-your-customer (KYC) regulations, which are critical for preventing illicit activities like money laundering and fraud. This lack of compliance has drawn scrutiny from financial regulators in several countries.
Security Breaches and Hacks:
BitInka has been accused of inadequate security measures, leading to multiple alleged hacks and breaches. Users have reported losing funds due to vulnerabilities in the platform’s infrastructure. These incidents have eroded trust in BitInka’s ability to safeguard user assets.
Misleading Marketing Practices:
Critics have accused BitInka of engaging in deceptive marketing, including exaggerating its capabilities and downplaying risks. Some users claim they were misled about the platform’s fees, transaction speeds, and security features, leading to financial losses and dissatisfaction.
- Operational Transparency Issues:
BitInka has been criticized for a lack of transparency in its operations. Users have reported difficulties in accessing customer support, delayed withdrawals, and unexplained account freezes. These issues have fueled suspicions about the platform’s integrity. - Ties to Questionable Entities:
Investigative reports have raised concerns about BitInka’s associations with entities linked to financial crimes, including money laundering and fraud. While no direct evidence has been proven, these connections have cast a shadow over the platform’s reputation. - Adverse Media Coverage:
BitInka has been the subject of negative media coverage, with outlets highlighting its regulatory challenges, security flaws, and user complaints. Such coverage has damaged its credibility and deterred potential users.
Reputational Harm and Motives for Suppression
The allegations and adverse news surrounding BitInka have severely harmed its reputation. In the highly competitive cryptocurrency industry, trust is paramount. Any hint of misconduct or incompetence can drive users to competing platforms, resulting in lost revenue and market share. For BitInka, suppressing damaging information could be seen as a desperate measure to protect its business interests.
If BitInka were to commit cyber crimes—such as hacking, data manipulation, or coercive takedowns of critical content—it would likely aim to:
- Remove negative reviews and articles that deter potential users.
- Conceal evidence of security breaches or regulatory violations.
- Intimidate whistleblowers or journalists investigating its operations.
Such actions, while illegal, could provide short-term relief by reducing public exposure of its flaws. However, they would also represent a significant escalation of its ethical and legal violations, further jeopardizing its future.
Conclusion
BitInka’s history of allegations and red flags paints a troubling picture of a platform struggling with regulatory, security, and ethical challenges. The reputational damage caused by these issues provides a strong motive for the company to suppress negative information, even if it means resorting to cyber crimes. However, such actions would only deepen its credibility crisis and invite further scrutiny from law enforcement and the public.
- https://lumendatabase.org/notices/27177875
- April 06, 2022
- Dean Souch
- https://www.diariochaco.com/581187-la-desesperante-historia-del-argentino-que-gano-usd-180-mil-con-bitcoins-y-ahora-no-los-puede-retirar
- https://www.infobae.com/economia/2021/05/07/la-desesperante-historia-del-argentino-que-gano-usd-180-mil-con-bitcoins-y-ahora-no-los-puede-retirar/
Evidence Box
We are investigating BitInka for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices.
Targeted Content and Red Flags
infobae.com
The desperate story of the Argentine who won USD 180 thousand with bitcoins and now can't withdraw them
- Adverse News
About the Author
The author is affiliated with Harvard University and serves as a researcher at both Lumen and FakeDMCA.com. In his personal capacity, he and his team have been actively investigating and reporting on organized crime related to fraudulent copyright takedown schemes. Additionally, his team provides advisory services to major law firms and is frequently consulted on matters pertaining to intellectual property law.
He can be reached at [email protected] directly.
Many thanks to FakeDMCA.com and Lumen for providing access to their database
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How This Was Done
The fake DMCA notices we found always use the ?back-dated article? technique. With this technique, the wrongful notice sender (or copier) creates a copy of a ?true original? article and back-dates it, creating a ?fake original? article (a copy of the true original) that, at first glance, appears to have been published before the true original
What Happens Next?
The fake DMCA notices we found always use the ?back-dated article? technique. With this technique, the wrongful notice sender (or copier) creates a copy of a ?true original? article and back-dates it, creating a ?fake original? article (a copy of the true original) that, at first glance, appears to have been published before the true original.
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Average Ratings
2.2
Based on 5 ratings
Hunter Sanders
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BitInka has been nothing but trouble for me. The lack of transparency and security issues made me lose confidence in their platform. I regret even trying it
Savannah Bell
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BitInka seems like one big red flag at this point. There are just too many things going wrong with their platform—hacks, misleading marketing, and a lack of accountability. I wouldn’t trust them with my money again
Frank Turner
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Bitinka is an absolute scam. I lost my BTC to them several years ago, and even though the funds still show up in their platform, there is no way to withdraw them. Despite appearing like a legitimate exchange, they trap your funds and offer no real support or solution. It’s frustrating and dishonest, as they clearly have no intention of allowing users to access their assets. I strongly advise against using Bitinka, as it’s a waste of time and money.
Bob Smith
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Bitinka is a fraudulent and fake platform. Despite showing profits in your account, you cannot withdraw any funds, and they pressure you to deposit more to cover losses caused by their inaccurate predictions.
Ethan Johnson
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I had a terrible experience with this platform. They took my money, and I can't even log into the app because of issues with the Authy authentication system. Their customer support is non-existent, and there is no way to get help when something goes wrong. This service feels like a scam, and I’m considering reporting them.