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Reported As Possible Scam

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  • Manju Ram
    Participant

      Type of Scam: Investment
      Calculated Amount Lost: $149,591.00 USD
      URL of Scam: bytefederal.com

      Victim Description:
      The victim reports losing $149,591.00 USD in Bitcoin through an investment scam involving bytefederal.com. The victim was blackmailed after being scammed out of their funds.

      Scam Domain Details:

      Domain Name: bytefederal.com
      Registrar: GoDaddy.com, LLC
      Registered On: November 11, 2016
      Expires On: November 11, 2025
      Updated On: November 11, 2023
      Status: clientDeleteProhibited, clientRenewProhibited, clientTransferProhibited, clientUpdateProhibited
      Name Servers: fred.ns.cloudflare.com, ruth.ns.cloudflare.com

      Wallet Addresses Used in the Scam:

      Open-Source Intelligence Analysis: Key Details of ByteFederal Scam
      Scam Overview:
      The victim lost a substantial amount of $149,591.00 USD in Bitcoin to a scam website, bytefederal.com, which appears to have been a fake investment platform. The victim was blackmailed after transferring funds to the scammers, who likely used psychological manipulation to increase the victim’s trust and convince them to continue depositing more cryptocurrency. The scam is consistent with fraudulent investment schemes, often involving high-return promises, fake trading platforms, and requests for additional funds under various pretenses.

      Scam Tactics:

      Blackmail Tactics: The victim’s description suggests that after losing funds, the scammer resorted to blackmail to further manipulate the victim into sending more money or remaining compliant.
      Fake Trading Platform: The victim initially made a deposit and was likely given the illusion of success or potential returns, which built their trust. Later attempts to withdraw funds were blocked, a typical tactic used by fraudulent trading platforms to ensure the victim deposits more money.
      Repeated Wallet Addresses: The scammer used a set of wallet addresses to launder the stolen funds, with many addresses repeating multiple times, which indicates an organized effort to control and disperse funds.

      Recommendations:
      Report the Scam:
      The victim should report this scam to the FBI Internet Crime Complaint Center (IC3), FTC, and relevant cryptocurrency fraud authorities. Reporting the scam to blockchain forensics firms can help trace the flow of stolen funds.
      Blockchain Investigation:
      Tracing the movement of the stolen Bitcoin can be performed using services like Etherscan or BTCScan. These services can provide insight into the scammer’s network and might help track down the wallet addresses and identify other victims.
      Consult a Cryptocurrency Recovery Service:
      Victims of crypto scams may want to consult a professional recovery service. These services often employ experts who are experienced in tracking cryptocurrency transactions and may be able to help in retrieving the funds.
      Avoid Engaging with Unverified Platforms:
      Moving forward, the victim should ensure that they avoid engaging with unknown or unverified investment platforms. Researching and verifying any crypto platform before investing is essential, as scams can sometimes mimic legitimate trading sites.
      Implement Better Security Measures:
      The victim should review all accounts for security vulnerabilities, ensure two-factor authentication (2FA) is enabled, and be cautious about engaging with suspicious online platforms.

      Conclusion:
      The victim lost a significant sum of $149,591.00 USD to a scam orchestrated by bytefederal.com. The scam involved a fake crypto trading platform, blackmail, and fraudulent requests for additional funds. The victim should act swiftly to report the scam and consult professional services for potential recovery.

      satish
      Keymaster

        In another instance of online fraud, bytefederal.com has been implicated in a scam targeting job seekers, particularly those looking for flexible part-time employment. This scheme misled applicants with attractive job offers, only to exploit them financially by requiring upfront payments disguised as “training fees” or equipment costs. Ultimately, applicants who paid these fees found themselves locked out of the system and unable to recover their funds.

        Domain Information

        • Domain: bytefederal.com
        • Registrar: GoDaddy.com, LLC
        • Registered On: 2016-11-11
        • Expires On: 2025-11-10
        • Updated On: 2023-11-11

        Scam Operation Details

        The bytefederal.com scam operates under the guise of a part-time job offer. Job seekers receive emails or messages inviting them to apply for a flexible, high-paying position, with promises of steady income and remote work options. Once interested candidates engage, they are instructed to pay fees for “training” or “mandatory equipment.” These fees are collected through cryptocurrency transactions, making it challenging to trace or recover funds.

        After the payment is made, communication with the platform often ceases, and no legitimate job or training is provided. Victims are left with lost funds and no recourse, as the transactions are typically final.

        Transaction Details

        The following transactions highlight specific cases where funds were transferred to addresses controlled by bytefederal.com as part of the scam:

        BTC Transactions

        Date: 01 Jul 2024

        These transactions show the amounts lost by victims who believed they were investing in a legitimate employment opportunity.

        Key Takeaways

        The bytefederal.com scam is a cautionary tale for those seeking part-time or remote work opportunities. Prospective employees should exercise vigilance, conduct thorough research, and remain skeptical of job offers that demand upfront payments. Protect yourself by verifying the legitimacy of job opportunities and avoiding employers that ask for fees before employment.

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