BitSkins, the popular CS:GO skin and item trading site is shutting down its business after an incident took place involving a random user allegedly committing a ‘payments fraud’ with Steam, following which he tried to sell those acquired items through BitSkins.
Over time the website remained the most popular website to sell virtual game skins for games on steam. In June 2019 however they removed the option to use cryptocurrencies along with bank transfers on their website. Making some people skeptical with how the website was going to operate in the future based mostly around PayPal.
The website is now shutting down after a user or criminal organization committed substantial payment fraud using BitSkins as a way to get money out. The person or organization purchased massive amounts of the Berlin Major Souvenirs with a stolen credit card, then sold them on BitSkins. Steam took notice of the massive amount and restricted the trade on multiple BitSkins steam accounts.
Due to this, Steam immediately blocked a few of their accounts on Steam to prevent the user from getting away with the fraud.
After the incident, Atif Nazir, CEO of BitSkins took to r/GlobalOffensiveTrade to announce that after years of service, it was time for them to move on to other projects.
The decision was made abruptly after Steam gave them a warning that this should not happen again while they unrestricted their accounts. Atif goes on to explain that, “Since we have no reliable way of knowing the source of items or exactly how they were acquired, we believe it is best to not allow the further possibility of a similar situation to recur.”
Luckily the restriction has been removed but they’ve been reminded that their steam accounts cannot be used for commercial use and next time the trade restriction on the steam account will not be removed.
However because BitSkins is unable to validate if a game item has been acquired by fraud or is a genuine skin they cannot proceed with their service without being trade banned by steam, breaking their terms and conditions, and taking losses on stolen items bought on their website.
According to Atif, “This can happen to anyone out there, which makes the above incident quite concerning for legitimate users/entities.” BitSkins stated that it cannot let such an incident take place on its platform again and disabled the option of listings and re-listing of new items on its website.
Existing users can still use the funds and items that they have on the website, but even trading of items will be banned altogether in the next 14 days or so.
Recently OPSkins made a comeback to CS:GO with its ‘peer-to-peer’ item listing, going against the ‘cease and desist’ that Valve had made against them for violating the ‘Steam Subscriber Agreement.’
While one company respecting the warning given to them by Steam has backed down, another seems to be bending the rules to get back into business.
Alternatives to BitSkins.com
Now that BitSkins can’t be used to sell items many people will be looking for alternative website to use as a marketplace to sell their game items.
Skinport was always the next in line to sell virtual game items such as CS:GO Weapon Skins. This website supports all of the popular games just like BitSkins but has a much better filtering system so you can find exactly what you need. With people able to withdraw the money after they sell the item unlike on the steam marketplace.
SkinBaron.de is also similar to BitSkins however it trades in euros instead of dollars. It’s ran by a company in Germany.
If you are just looking to trade item game skins though among each other, I would recommend you check out CS.Trade and TradeIt.GG. These websites use bots to trade items with you, always making sure you get your item on the same trade that you deposit.
So make sure you get all of your items out of BitSkins as soon as possible before they cease their operations. If you still want to sell your skins or trade them check the links just above. It’s a sad time for all of us who use these services to see the biggest player disappear but hopefully it brings with it new and better competition.
Bitskins.com has changed ownership, with the new owners saying they are being back crypto-currencies such as bitcoins. This new comes on October 4th, 2019 only a few days of its closure announcement. There is no new information about the new team, they say that everything should be back to normal within a month.