Freebitcoin site, a pioneer of Bitcoin, will shut down its operations

Source: PortaldoBitcoin Original Title: Freebitcoin Site, a pioneer in Bitcoin, will cease operations Original Link: Freebitcoin, one of the oldest sites in the crypto ecosystem, officially announced the closure of its activities after 12 years online. In a statement published on the platform itself, the team informed that the service will be discontinued due to “widespread misuse.” The decision marks the end of an era of so-called “faucets” (— platforms that distributed small amounts of Bitcoin for free to users.

The team stated that legitimate user funds are safe and that they are conducting a manual review to separate valid accounts from abusers, a process that may take months due to the large number of users.

For now, the shutdown notice only appears to those who click the withdrawal button, but the site will be replaced by a closing page, and legitimate users will be migrated to a new database to request withdrawals.

The forecast is that withdrawals will be available in early 2026. The platform also warned that no funds should be sent to deposit addresses during this period.

Freebitcoin – how it worked

Created during a time when Bitcoin was still seen as experimental, Freebitcoin allowed anyone to accumulate satoshis by clicking a button or participating in games.

Because of the small amount users could retain on the platform, the goal did not seem to be getting rich but rather encouraging participation and learning about digital wallets, transactions, and how the Bitcoin network works.

Users could only request a withdrawal after accumulating 30,000 satoshis, which was quite difficult, as the daily rewards had recently been 2 satoshis per hour.

Although the site never reached the initial phase of faucets that distributed whole bitcoins — like the famous one created by Gavin Andresen that offered 5 BTC per click — Freebitcoin did distribute hundreds of satoshis per interaction, a modest amount but significant at the time.

With market maturation, the site underwent several transformations. Gambling games, promotions, interest-earning accounts, and other features were added to accompany the sector’s professionalization.

Still, the environment changed drastically: higher fees, increased regulatory pressure, KYC requirements, and the entry of large investors made maintaining a traditional faucet unfeasible.

According to the final statement, withdrawals have been temporarily disabled, and users with a balance on the platform should wait until next year for further updates.