The BiteBTC exchange is a unique place: from its data, it seems the exchange handles hundereds of millions in daily volume, denominated in US Dollars, and provides a liquid home to a large amount of coins. A closer look unfortunately reveals an exchange that inflates its volume metrics using wash trading, accused consistently of not honoring users’ fund withdrawal requests – allegedly stealing from them, having a seemingly non-existant team untraceable in the real world and a frustrating website, which rarely works in a user friendly way and does not even allow the user to open a support ticket, or – in the worst case we’ve seen – when a user wishes to disable its two-factor authentication, they simply click the button that says “”disable 2FA”” – and it is disabled, no questions asked – this is an extremely alarming vulnerability, easily exploitable by every amateur attacker. With trading fees similiar to its competitors, at 0.2%, and a large amount of “”exotic”” listed coins which appear liquid only due to the wash trading – some traders might feel drawn to BiteBTC. To those we recommend staying away from this exchange, due to its nonexistant transparency and extreme level of risk.
