Jun 13 · 3 min read

Dear friends, to begin with we want to repeat it again — Azbit has nothing to do with Bitsane. The second thing we have to say — Azbit is as deceived as Bitsane’s victims are. And now please let us tell you what is REALLY going on.

As you may already have heard, Bitsane exchange was announced to deceive many traders and stop withdrawing users’ funds. Its team is absolutely unreachable.

Crypto community began to mistakenly link Azbit project with this notorious exchange. Our team wants to ask you not to make hasty conclusions and investigate the issue together.

As we can see, many traders consider Azbit a speculative project as its CEO Max Zmitrovich was Bitsane Limited CEO as well.

Let’s clarify: Bitsane LP and Bitsane Limited are two independent entities.

  • Bitsane LP registered in Ireland is Bitsane exchange itself. Azbit project hired Bitsane LP developers as a contractors to develop the coding for long-awaited Azbit exchange. There was nothing unusual: we recruited a team of experienced professionals, who had a real and solid experience in the development of the existing exchange. It happens every day: new projects are gaining employees with relevant experience in a particular field. It would be strange to hire people who did not develop a cryptocurrency exchange, but created an application for gardeners. Could we anticipate that will find ourselves in the midst of a scandal? Of course not.
  • What is Bitsane Limited created with Max Zmitrovich as a CEO then? The name was chosen at the insistence of Bitsane LP, because the company wanted to own the rights to the code, since it is intellectual property of Bitsane LP developers. This is also quite a common thing: these were the conditions of the developers — and we accepted them. Could we anticipate that will find ourselves in the midst of a scandal? And again the answer is no.

Bitsane Limited (non-exchange) meant to be the intellectual rights holding company with the condition that Bitsane LP employees would become founders, but it didn’t happen. Bitsane Limited carried out no economic or trading activity.

However, in April 2019, Bitsane LP team stopped getting in contact and Azbit lost the last opportunity to receive promised product. As a result, we broke off all relations with Bitsane LP.

You may ask: “Why didn’t you report deception?” We did not want to raise the scandal and alarm our partners. We apologized to investors and postponed the launch of the exchange. Azbit has taken a decision to develop exchange with the efforts of our own team in order not to stitch you up and roll out the product in July. Could we anticipate that will find ourselves in the midst of a scandal? You already know the answer.

Azbit team is shocked by what is happening and we want to assure you that we are as deceived as you are.

Azbit became injured twice.

The first time it happened when we have lost the exchange ready for launch.

The second time is now, when we are under attack of unfounded accusations.

But think: what do scammers usually do? Hiding. Is Max Zmitrovich hiding? Have Azbit support chats gone down? Is our web site closed? If Azbit was connected with Bitsane, we would have disappeared on the same day — and we would not have to worry about damaged reputation, we would not have to give any explanations.

We urge you not to make any judgements ahead of time and sort everything out step by step. Azbit team has nothing to do with Bitsane LP. As an affected party, we are open for communication and do not go back in commitments by no means.


Azbit News

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Social Trading Platform💱Blockchain Banking 📈Investment Platform 💳Electronic Payments 🌍

Azbit News

Social Trading Platform 💹Blockchain Banking 📈Investment Platform 💳Electronic Payments 🌍

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