BTCHH (btchfx.com) Scam Exposed: Advance Fee Fraud

We recently received a complaint about a cryptocurrency scam involving a platform called BTCHH (possibly btchfx.com).

BTCHH Review: Case Study

A victim reported losing approximately $70,000 through this fraudulent investment scheme.

The fraud began when they were enticed to invest in what was presented as a legitimate trading opportunity.

Promises of significant returns on investment motivated the victim to make multiple transactions using Ethereum via the Crypto.com platform. Over a series of 10 transactions, the funds were transferred, and for a time, the victim was led to believe their investment was growing.

Things took a dark turn when the victim attempted to withdraw their funds.

As often happens in these kinds of scams, the platform imposed a “commission fee,” allegedly necessary to release the funds. In this case, the scammer demanded an additional $60,000 before the victim could access their supposed earnings. This tactic, known as the “advance fee scam,” is common in crypto fraud. The scammer’s goal is to extract even more money under the guise of facilitating a legitimate financial process, which is entirely fictitious.

Communication with the scammers occurred through WhatsApp and Instagram, with a person named “Alisa Ivanko” representing herself as a point of contact.

The conversations also had a flirtatious tone, hinting at a personal connection beyond the financial transactions, which further manipulated the victim’s trust.

The scammers kept the victim engaged by offering reassuring updates and continually asking for additional payments, knowing that the victim had already committed a substantial amount of money and would likely be desperate to recover their losses.

At this point, we advise extreme caution to anyone considering investing through unfamiliar platforms, especially those promising unusually high returns. This case displays all the hallmarks of a classic crypto investment scam: enticing returns, escalating fees to access funds, and communication through non-professional channels like WhatsApp.

Is btchfx.com Legit?

If you encounter a platform that behaves similarly, it’s highly likely you are dealing with a scam. BTCHH’s demand for additional upfront payments before releasing funds is a clear indicator that it is not operating legitimately.

Were you scammed? We can help with tracing cryptocurrency transactions.