BitBNS Scam: How to File Criminal Case & Recover Your Money

Is your money stuck on BitBNS? Are you unable to withdraw your funds — INR or crypto — from the BitBNS exchange? You are not alone. Hundreds of Indian investors have reported that BitBNS (bitbns.com) has been withholding their hard-earned money for months and even years, with no resolution in sight.

At Your Justice, we are actively helping BitBNS victims take legal action and recover their funds. This comprehensive guide explains what BitBNS has done, what criminal and civil legal remedies are available to you, and how you can join our free legal effort to get your money back.

What Is BitBNS?

BitBNS (Buy in the Name of Satoshi) is an Indian cryptocurrency exchange platform founded by Gaurav Dahake, headquartered in Bengaluru, Karnataka. The platform allowed Indian users to buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, and other altcoins using Indian Rupees (INR).

BitBNS also offered features like crypto SIPs (Systematic Investment Plans) through their "BitDroplet" service, margin trading, and Fixed Market Making (FMM). While the platform attracted thousands of Indian crypto investors, things began to unravel starting in 2023.

What Has BitBNS Done to Its Users?

Based on hundreds of user complaints on platforms like Trustpilot (where BitBNS has a 1.2 out of 5 rating with 61% one-star reviews), social media, and consumer forums, here is what BitBNS users have reported:

1. INR Withdrawals Blocked for Months/Years

Users report that their INR withdrawal requests have been stuck in "Processing" status for months — some since early 2024. Despite BitBNS's 60-banking-day processing claim, users have waited 6 months, 12 months, and even 2+ years without receiving their money. Amounts range from a few thousand to several lakhs of rupees.

2. Crypto Withdrawals and Transfers Blocked

Users cannot withdraw their cryptocurrency to external wallets. Transfer requests are either rejected, cancelled, or permanently stuck in "pending" status. Even USDT (stablecoin) withdrawals have been blocked, leaving users with no way to move their assets off the platform.

3. Non-Existent Customer Support

Multiple users report that BitBNS customer support sends only generic, copy-paste responses. Common replies include vague promises about "working with third-party payment processors" with no concrete timeline or resolution. Many emails go completely unanswered for weeks.

4. Deposits Still Accepted While Withdrawals Blocked

Perhaps the most concerning allegation: while BitBNS has blocked withdrawals, they reportedly continue to accept new deposits from unsuspecting users. This raises serious legal questions about the platform's intentions and financial health.

5. KYC Issues and Account Data Held Hostage

Users report being unable to delete their accounts or personal KYC data. Some users who wish to leave the platform find their personal documents (Aadhaar, PAN, address proofs) trapped with a company they no longer trust.

6. Artificially Low Prices on Platform

Users report that crypto prices on BitBNS are 30-50% lower than market rates on other exchanges like WazirX, CoinDCX, or Binance. This means even if users can sell their holdings, they receive significantly less than the actual market value.

Legal Sections Applicable Against BitBNS

Based on the reported conduct, the following criminal and civil provisions of Indian law may apply:

Step-by-Step: How to Take Legal Action Against BitBNS

Here is the exact process to file a criminal case and recover your money from BitBNS:

Step 1: Collect All Evidence

Before taking any legal action, gather and preserve the following documents:

• Screenshots of your BitBNS wallet showing stuck funds
• Screenshots of pending/failed withdrawal requests with dates
• All email correspondence with BitBNS support
• Bank statements showing deposits to BitBNS
• Transaction history (download from BitBNS if possible)
• Screenshots of your account dashboard
• Any social media posts/complaints you have made
• Trustpilot or other platform reviews you have posted

Step 2: File a Cyber Crime Complaint

Visit the National Cyber Crime Reporting Portal:

• Website: cybercrime.gov.in
• Select "Online Financial Fraud" category
• Upload all evidence collected in Step 1
• You will receive a complaint number — save it
• You can also call the Cyber Crime Helpline: 1930

Step 3: File an FIR at Your Local Police Station

Visit your nearest police station and file a First Information Report (FIR):

• Under Sections 406, 420 IPC (breach of trust and cheating)
• Under Section 66D IT Act (online cheating)
• Carry all printed evidence, cyber crime complaint number
• If the police station refuses to file the FIR, you can approach the Superintendent of Police (SP) or file a private complaint before the Magistrate under Section 156(3) CrPC

Step 4: File a Consumer Complaint

You can file a consumer complaint against BitBNS for deficiency of service:

• Online filing: edaakhil.nic.in (National Consumer Disputes Redressal Commission)
• Claims up to ₹50 lakhs: District Consumer Forum
• Claims ₹50 lakhs to ₹2 crore: State Consumer Commission
• Claims above ₹2 crore: National Consumer Commission
• You can claim refund + interest + compensation for mental harassment

Step 5: Send a Legal Notice

A legal notice sent through an advocate creates formal legal pressure on BitBNS. It demands:

• Immediate refund of all stuck funds
• Interest on the withheld amount
• Compensation for mental harassment and financial loss
• Warning of criminal prosecution and civil suit if not complied within 15 days

Step 6: File Complaints with Regulators

• RBI (Reserve Bank of India): Complaint against unauthorized handling of INR funds — cms.rbi.org.in
• SEBI: If BitBNS offered investment products without proper registration — scores.gov.in
• Enforcement Directorate: For potential money laundering — through your local police
• Ministry of Corporate Affairs: Complaint against the company — mca.gov.in

Why You Should Join the Collective Legal Action

Fighting alone against a company can be expensive and slow. That is why Your Justice is building a collective legal effort on behalf of all BitBNS victims. Here is why joining is your best option:

Real Complaints from BitBNS Users

Here are some real experiences shared by BitBNS users on public review platforms:

"Since the past 2 years, they are flatly refusing to let us users withdraw our Crypto, and also our fiat currency claiming they are searching for a new payment provider. I needed my funds urgently for an emergency surgery and contacted them, but they have only replied with their same standard automated and boring cut-and-paste responses for more than a year."

— BitBNS user, Trustpilot review, February 2025

"I initiated 4 INR withdrawals totalling ₹62,173 from BitBNS in November 2024. As of April 2025 — over 60 banking days later — all still show Processing. I have tagged @bitbns and CEO @gauravdahake publicly and will escalate to RBI, SEBI, and consumer court."

— BitBNS user, Trustpilot review, April 2025

"I submitted two withdrawal requests for ₹1,00,000 and ₹86,974. It has now been 145 days, and I am yet to receive the total amount of ₹1,86,974 in my bank account. This response feels like a standard script they use to placate users while doing nothing."

— BitBNS user, Trustpilot review, August 2024

"The most fraud company ever. My withdrawal is stuck since May 2024 — about 2 years now. The amount is over ₹1,52,606 INR. I have escalated to RBI, Consumer forums, social handles, and all relevant authorities."

— BitBNS user, Trustpilot review, February 2026

Frequently Asked Questions (FAQ)

Is BitBNS a scam?

Based on hundreds of user complaints, BitBNS exhibits patterns commonly associated with financial fraud — accepting deposits while blocking withdrawals, providing no real customer support, and giving vague, repetitive responses. While the legal determination of "scam" comes from courts, the reported behavior may constitute criminal breach of trust and cheating under Indian law.

How much money is stuck on BitBNS?

Individual victims report amounts ranging from ₹290 to over ₹2,00,000+ stuck on the platform. Given that hundreds (possibly thousands) of users are affected, the total amount stuck could run into several crores of rupees.

Can I file a case if the amount is small?

Absolutely yes. No amount is too small for legal action. Consumer forums handle cases from ₹1 upward. Criminal cases can be filed regardless of amount. Moreover, when small claims combine in a collective case, they create significant legal pressure.

I am from outside Chandigarh. Can I still get help?

Yes. Your Justice assists clients across India through online consultations. For the collective BitBNS case, we represent victims from every state. You do not need to be in Chandigarh to get our help.

What if BitBNS is shutting down or going bankrupt?

Even if a company shuts down, criminal liability remains with the directors and promoters personally. Under corporate law, directors who engaged in fraudulent conduct can be held personally liable. Additionally, the Enforcement Directorate can track and attach assets. This is why filing early is critical — the sooner you act, the better your chances of recovery.

How to Contact Your Justice for BitBNS Case

Taking action is simple. Here is how to get started:

Key Takeaways

• BitBNS has allegedly blocked INR and crypto withdrawals for hundreds of Indian users since 2023-2024
• This conduct may constitute criminal offences under IPC Sections 406, 420, and IT Act Section 66D
• You can file complaints with Cyber Crime Portal, local police, consumer forums, RBI, and SEBI
• A legal notice from a lawyer creates immediate pressure for resolution
• Collective legal action through Your Justice is the most effective way to recover funds
• Free consultation is available — do not wait, as delays can reduce your chances of recovery

Disclaimer: This article is for informational purposes only and is based on publicly available user complaints and reviews. It does not constitute defamation against any individual or company. All allegations mentioned are based on statements made by users on public platforms. The legal opinions expressed are general in nature and should not be considered as specific legal advice. Consult a qualified advocate for advice specific to your situation.