Stay alert if you’ve encountered bytefederal.com or anyone urging you to use Bitcoin ATMs for investments. This platform was at the center of a scam where victims lost thousands of dollars, including $40,000 in one case. The scammers used Bitcoin ATMs to receive funds and later blackmailed the victim. The stolen funds were traced to Bybit, HitBTC, and Binance. This method made it harder to recover the stolen cryptocurrency.
We worked closely with Michigan State Police on this case. Our investigators prepared reports and shared insights to support law enforcement efforts. We tracked multiple transactions and provided detailed records.
This scheme preyed on trust. The scammers promised high returns but delivered nothing. Instead, they pushed the victim into financial ruin, even forcing them to take out loans. If you’ve interacted with bytefederal.com or similar schemes, report it immediately.
This is clearly a scam. The setup, tactics, and stolen funds all point to fraudulent intent. We advise you to avoid any website or person asking for Bitcoin investments through ATMs. If you’ve fallen victim or suspect something is off, consult professionals like us. Early action can make a big difference in protecting your assets.