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.

Another Case Study: Trapped by Btchfx.com

If you’ve ever felt the sting of betrayal from an online scam, you know how crushing it can be. That’s exactly what happened here. The fraudulent website btchfx.com lured in a victim with the promise of lucrative investments. They even used Bitcoin and CashApp to make the transactions feel legitimate. But when it came time to withdraw the funds, the scam began to unfold. The scammers claimed they needed extra money for a “risk assessment” and later demanded even more for a wire transfer to release the funds. The losses totaled $17,000, a devastating blow for anyone.

CNC Intelligence stepped in to trace the cryptocurrency transactions. They identified three key movements. Two traces stalled, but one led them to a cashout at Binance. This discovery provided tangible proof of how the scammers operated. Every lead helps in exposing their tactics and stopping future victims from falling into the same trap.

The tactics they used are clear: exploit trust, isolate the victim, and extract as much money as possible. Knowing these warning signs can save others from the same fate. If you or someone you know has been affected, reach out for professional help. Recovery is difficult, but it starts with the first step.

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.