Since I have not been paid out in over a week, with no explanation from freebitco.in or response from customer support, I have filed a fraud claim with the Canadian anti-fraud centre
https://antifraudcentre-centreantifraude.ca/report-signalez-eng.htm#a1a . I filed a complaint with my local police department. I was told by the officer to ask online if there are any other canadian victims. If so they should file a fraud report. Does anybody know were FBC BV. is registered?
I also have all the necessary documentation to contact the authorities and take action on this. The question is whether it’s worth it.
Freebitco.in is owned by FBC B.V., which is registered in the Netherlands.
The Dutch gambling regulator (KSA) is currently taking enforcement action against them, which confirms they are a real entity operating within the EU. In this proceeding, they cannot hide their origin. They are also under financial penalties, so this is not an untouchable or anonymous operation.
However… they are not responding to the sanctions, and the current total fine should be €840,000, which they probably won’t pay.
Filing a collective lawsuit against them is technically possible, but in reality, you won’t recover much. I doubt they have enough assets to pay both the existing fines and their users.
What would happen? FBC B.V. would go bankrupt. The fines would get paid first, and if anything remains, maybe a small portion would go to creditors.
If the occasional reports here are true — that they are still paying out some amounts — then it’s better to wait while they are still paying.
If they stop paying entirely, then it’s better if they get shut down.