🚨 STRONG WARNING — BITBNS HAS SERIOUS WITHDRAWAL PROBLEMS. Multiple users report INR withdrawals stuck for months (since 2024). Bank accounts frozen by law enforcement. Multiple legal cases. Koinly’s expert review explicitly states: “highly advised to avoid using Bitbns for new investments.” Tokens trade 15-30% below market price. Do NOT deposit new funds on Bitbns.
Bitbns — Current Status (2025/2026)
Bitbns was founded in December 2017 by IIT graduates (Gaurav Dahake, Prashant Singh, Srikanth Sethumadhavan) and grew to be India’s largest crypto exchange by reported market share (79.1% per CoinGecko). FIU-IND registered. Flat 0.25% trading fee. 640+ cryptocurrencies, INR pairs.
However, since late 2021, Bitbns has faced serious operational problems: INR withdrawal delays measured in months, bank accounts frozen by law enforcement agencies, and multiple legal cases across Indian jurisdictions. Trustpilot reviews document users unable to withdraw INR for over 60 banking days. Crypto tokens on the platform reportedly trade at a 15-30% discount to market rates, suggesting liquidity issues.
⚡ Bottom Line: While technically still operational and FIU-IND registered, Bitbns has severe ongoing withdrawal issues that make it unsafe for new deposits. Do NOT add new funds. If you have existing funds, prioritize withdrawal via multiple methods and escalate via RBI/SEBI consumer grievance portals if blocked. For Indian crypto trading, use CoinSwitch, CoinDCX, or ZebPay instead.
