Reported As Possible Scam
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In reply to: Cypbit.io, bitiqs.com, and related scams
A cryptocurrency scam involving the website bitiqs.com has been reported, resulting in a financial loss of $4,664 USD. The victim had been communicating with someone named Jacob, who facilitated the fraudulent transactions.
The blockchain addresses linked to this scam are:
0xA4BA5fDc470b716f11B1CdA5aa7B6389B562BadA 
rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD
0x16af921e4b0c778cca5b4e5415f8caa794d9e03f If you come across bitiqs.com or these blockchain addresses, avoid engaging and report this scam immediately to help prevent further losses.
JettDeFi.com has recently emerged as a deceptive cryptocurrency trading platform, claiming to offer substantial returns on investments. As a platform that presents itself as a legitimate decentralized finance (DeFi) investment service, JettDeFi uses professional-looking designs and attractive financial offers to lure investors. Unfortunately, this illusion of legitimacy conceals a scam that leaves users with significant financial losses—in my case, 67.74 XRP.- How the JettDeFi.com Scam Operates
The JettDeFi scam starts with promises of high returns, drawing in users through social media ads, email campaigns, or direct messages. The platform advertises itself as a reliable DeFi service, encouraging investors to deposit funds to earn impressive profits in a short period. The website features advanced trading tools, financial projections, and claims of secure transactions, all designed to create a convincing front. - Upon depositing funds, users may see initial “gains” displayed on their accounts, leading them to believe the platform is legitimate. However, when users attempt to withdraw their funds, they encounter delays, technical errors, or additional fees required to “process” the withdrawal. These excuses prevent users from reclaiming their assets, and communication with customer support soon becomes non-existent.
- In my case, I deposited 67.74 XRP to the receiving address rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD . Despite several attempts to withdraw, each request was met with excuses and an eventual halt in communication, leaving me unable to access my funds.
- Red Flags of the JettDeFi Scam
Guaranteed High Returns: Legitimate investment platforms cannot guarantee high returns, especially in volatile markets like cryptocurrency. Promises of consistent, risk-free profits are a major warning sign. - Blocked Withdrawals: If a platform prevents users from accessing their own funds, it is likely a scam.
- Unresponsive Customer Support: Scam platforms often have unresponsive or unhelpful customer support after deposits are made, making it nearly impossible to retrieve lost assets.
- No Regulatory Oversight: JettDeFi operates without any regulatory backing, which is common in scam operations. Always verify the credentials of a trading platform before depositing any funds.
- Protecting Yourself from Similar Scams
Before investing in any platform, thoroughly research its reputation, verify its licensing with recognized regulatory bodies, and consult online reviews. Avoid any platform promising guaranteed returns or requesting additional fees for withdrawals. Reliable trading platforms are transparent, responsive, and operate under regulation. - Key Takeaways
The experience with JettDeFi.com has been a costly reminder of the importance of caution in cryptocurrency investments. The promise of high returns often masks deceit, and without due diligence, investors can easily fall prey to scams like this one. Protect your investments by choosing only reputable, regulated platforms, and be skeptical of offers that seem too good to be true
Cryptocurrency scams continue to plague the digital asset landscape, with Biteq.net being one of the latest fraudulent platforms to surface. Biteq.net presents itself as a legitimate crypto exchange, but in reality, it operates with the sole intent of defrauding users out of their money. Through false promises of high returns and dishonest withdrawal practices, Biteq.net has caused significant financial harm to its victims.
Unfulfilled Withdrawal Promises and Scam Tactics
A key tactic used by Biteq.net is preventing users from withdrawing their funds after a certain amount is deposited. Victims are led to believe that their investments are growing, but when they attempt to withdraw, they are met with endless excuses from the support team. These excuses range from technical issues to fabricated fees that the user must supposedly pay before they can access their money.
One victim reported losing $1,300 to the platform. After making several investments, they attempted to withdraw their funds, only to be told that they needed to pay additional fees. Despite making further payments, the funds were never released, and the excuses from the support team continued. The support team demanded more money, refusing to process any withdrawals, a classic hallmark of a scam operation.
User Reviews Expose the Scam
Several victims have voiced their concerns on platforms like Trustpilot, warning others to stay away from Biteq.net. A particularly telling review reads:
“SCAM!!! They robbed me. I lost $1,300. They do not let you withdraw your money after a certain amount. The support keeps coming up with new excuses of why they cannot let you withdraw and keeps asking you to send them more money. They have multiple YouTube channels which redirect you to their websites.”
These reviews highlight a pattern of fraudulent behavior. Victims initially believe they are making profits, but once they attempt to cash out. They are blocked from withdrawing their funds. The scammers running the platform consistently pressure users to send more money, under the pretense of resolving issues that supposedly prevent withdrawals.
Manipulation Through YouTube Channels
To bolster their scam, Biteq.net uses multiple YouTube channels to redirect potential victims to their fraudulent websites. These channels present Biteq.net as a legitimate and profitable platform, often showcasing fake testimonials or manipulated investment results. Once users are convinced by these promotional videos, they are directed to the Biteq.net website, where the fraud continues.
This use of YouTube as a promotional tool is particularly concerning. As it allows the scammers to reach a broader audience and lure more victims into their trap. These videos often feature unrealistic promises of quick and massive returns, which should be an immediate red flag for anyone considering investing.
Biteq.net Crypto Receiving Address
During our investigation, we identified a receiving cryptocurrency address tied to the fraudulent activities of Biteq.net:
rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD . This address has been used in various transactions, including a report from a user who lost $500 worth of XRP. The fact that victims are being directed to send funds to this address is a clear indicator of the scam’s sophistication.Once funds are sent to this address, there is little hope of recovery, as cryptocurrency transactions are inherently difficult to reverse. Scammers exploit this fact, knowing that victims are unlikely to retrieve their money once it has been transferred.
Biteq.net Conclusion
Biteq.net is a fraudulent platform that preys on individuals looking to invest in cryptocurrency. The website promises high returns but ultimately prevents users from withdrawing their funds. Through the use of excuses, fabricated fees, and manipulative YouTube channels, Biteq.net has successfully scammed several users, causing significant financial loss.
Victims have reported losses ranging from $500 to over $1,300, with no recourse for recovering their funds. The support team continues to deflect and demand more money from users, leaving them trapped in an endless cycle of fraud.
If you encounter Biteq.net or similar platforms, exercise extreme caution. Look out for red flags such as unrealistic promises, withdrawal restrictions, and demands for additional payments. Always research platforms thoroughly before investing and avoid platforms with negative user reviews or dubious promotional tactics.
In reply to: Biteqs.com: A Warning to Cryptocurrency Investors
Both biteq.io and Bitify are using same xrp deposit address:
rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD
it’s so misleading for new crypto entrants to see ho many scans are operating in disguise of exchanges 😡Biteqs.com has emerged as a fraudulent platform that targets unsuspecting investors through deceptive cryptocurrency trading schemes. Specifically, this site has been implicated in scams involving XRP, leading to significant financial losses for its users.
Biteqs.com Scam Overview
The primary tactic employed by biteqs.com is the promotion of fake trading opportunities, enticing individuals with the promise of high returns on investments. One user reported losing approximately $2,560 after engaging with the platform, believing it was a legitimate way to trade cryptocurrencies. Unfortunately, this user discovered that the platform was a scam, designed to manipulate investors into parting with their money.
User Reports and Trustpilot Reviews
Trustpilot reviews have surfaced that highlight the fraudulent nature of biteqs.com. One user recounted their experience, stating,
100% scam. Let you withdraw 3 times, then tried saying I had to send 700 USDT to verify. I did that, but due to fees, it was short. They claimed it wasn’t verified because it wasn’t exactly 700. After going back and forth, they changed their demands, saying I needed to upgrade to premium for another 1,200 USDT because my account was over 3,000.” This review exemplifies the tactics employed by scammers to create obstacles for users attempting to withdraw their funds, further trapping them in a cycle of deceit.
Cryptocurrency Involvement
The scammers associated with biteqs.com also utilize cryptocurrency to facilitate their operations. Users have been directed to send funds to the following address:
rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD . This address has been tied to fraudulent transactions involving XRP, underscoring the platform’s reliance on cryptocurrency to evade detection and accountability.Biteqs.com Domain Analysis
A closer inspection of the domain biteqs.com reveals several concerning details:
- Updated Date: 2024-09-02
- Creation Date: 2024-08-02
- Registry Expiry Date: 2025-08-02
The short time frame between the domain’s creation and its updates indicates that the site was hastily established, likely with the intention of scamming users before disappearing. The registrar’s contact information, including an abuse contact phone number of +1.4805240066, suggests that there may be avenues for reporting the fraudulent activity.
Biteqs.com Conclusion
Biteqs.com is a blatant scam that preys on unsuspecting cryptocurrency investors through fake trading opportunities, particularly involving XRP. User reports reveal significant financial losses and manipulative tactics designed to keep individuals from withdrawing their funds. To protect yourself from such scams, it is vital to conduct thorough research and remain cautious when engaging with cryptocurrency platforms that promise quick returns. If you believe you have been scammed, report the incident to the appropriate authorities and seek assistance in recovering your funds.
On July 9, 2024, a YouTube video from the channel “Arbitrage Blick” caught the attention of unsuspecting viewers by promoting an exchange with supposedly lower fees. Among the victims, one individual reported losing $13,810 to bitiqs.net, a fraudulent platform posing as a legitimate exchange. The victim first transferred $4,031.67 worth of XRP from their uphold.com account to bitiqs.net, believing in the promise of low transaction fees. Subsequently, they were tricked into making additional deposits, amounting to $1,075.05, $1,516.71, and more, under the pretense of unlocking withdrawal features and achieving a “premium” account status.
Despite complying with these demands, the victim faced endless barriers and was asked for even more money, including a $3,000 UK Money Laundering Act insurance fee and a $5,000 unblock fee. This relentless extortion led to the loss of their life savings. Despite contacting bitiqs.net’s customer support, they received only automated, copy-pasted responses. The receiving address involved in this scam is
rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD .
Receiving Address
The receiving address
rMrBAzHAHBtY7DvkSf8JkAsxn89HBnXoLD , associated with the bitiqs.net scam, has a notable transaction history that aligns with the fraudulent activities reported by victims. This address has received significant XRP, with a main balance exceeding 125,985 XRP, equivalent to approximately $71,143.90 USD. The transactional history shows a consistent pattern of receiving and sending XRP, indicating active use.Multiple transactions occurred on August 2, 2024, including both received and sent amounts, reflecting a fluid movement of funds. These transactions align with the victim’s report of transferring XRP to this address. The large balance and frequent transactions are red flags that suggest the address is being used in a high-volume scam operation. They corroborate the claims of constant demands for additional deposits under various pretexts, making it nearly impossible for victims to withdraw their funds.
Domain Analysis
The domain bitiqs.net was recently registered on July 2, 2024, through Tucows Domains Inc. It is set to expire in a year on July 2, 2025. The name servers are hosted by Cloudflare, providing a layer of anonymity and protection against certain types of attacks. The registrant is in Charlestown, Saint Kitts and Nevis (KN).
The domain’s digital footprint is minimal. It has a zero authority score on Semrush, indicating it lacks significant trust and influence online. There is no organic or paid search traffic, nor does it rank for any keywords, suggesting it is not optimized for search engines and has no visibility. This is a red flag for any legitimate business, as credible companies usually invest in their online presence to attract and convert customers.
The backlinks profile is sparse, with only four backlinks from three referring domains, none of which are high-quality or authoritative sites. The referring domains include trustedrevie.ws, indiatodays.in, and rao5s.vn, but the backlinks are nofollow, meaning they do not pass authority to bitiqs.net. The presence of backlinks from sites offering backlink services suggests an attempt to inflate the site’s credibility artificially, a common tactic used by fraudulent entities.
Bitiqs.net Review
The bitiqs.net website presents itself as an advanced cryptocurrency exchange offering various financial services, including spot trading, futures trading, and staking. It claims to provide high-performance trading with low fees and robust security measures, positioning itself as a professional and reliable platform. However, several aspects of the website raise significant red flags indicative of a scam.
The site’s investment calculator prominently features unrealistic returns, such as a 250% profit in three months on a $10,000 investment. Such high returns in a short period are typical hallmarks of Ponzi schemes and fraudulent platforms. The site claims to offer up to 100x leverage trading, which is extremely risky and often used to lure inexperienced traders into losing their funds.
The contact information provided includes two email addresses:
listing@bitiqs.netandpartnership@bitiqs.net. The absence of a physical address or phone number is concerning, as legitimate businesses typically provide more comprehensive contact details. Additionally, there is no mention of any social media accounts, which further limits the transparency and accessibility of the company.The website claims compliance with various security and legal standards but lacks specific regulatory information or licenses that would verify these claims. The legal section includes terms of service, privacy notice, cookies policy, AML & KYC policy, and a risk disclosure statement. Yet, there is no concrete information about the company’s registration or regulatory oversight. This ambiguity is another serious red flag, as legitimate exchanges are usually transparent about their regulatory status and provide verifiable details.
Furthermore, the site’s design and promotional materials, including the exaggerated profit calculator and the promise of “instant” trading success, are designed to entice users into depositing funds quickly. Combined with the lack of verifiable company information and unrealistic promises, these elements strongly suggest that bitiqs.net is not a legitimate trading platform but a sophisticated scam.
Chainabuse Report: Ransomware and Scam Tactics
The website bitiqs.net has been reported on Chainabuse.com under the Ransomware category, highlighting its association with fraudulent activities. The report reveals that a YouTube channel promotes these dodgy exchanges, luring users with promises of high returns and low fees. Once users transfer their funds to the exchange, bitiqs.net freezes the assets and demands additional payments as release fees. These fees are purported to be for account verification or other spurious reasons. However, once paid, the platform locks users out of their accounts, effectively stealing their money.
These fraudulent transactions are associated with a specific Ethereum address,
0x1591fe8cA13e2148d1de09f96595f5652063A404 , further validating the pattern of scam behavior linked to bitiqs.net. The modus operandi involves exploiting trust by using an authoritative-looking YouTube channel to advertise the exchange, followed by systematic extortion through repeated demands for more deposits. This approach preys on the victims’ hope of recovering their funds, only to trap them in an endless cycle of payments and blocked withdrawals.Bitiqs.net Reviews
The reviews of bitiqs.net across various platforms overwhelmingly indicate that the site is a scam. Multiple users report losing significant amounts of money after being lured in by initial smooth transactions. One user on Trustpilot shared their experience, stating, “No problem for the first two small dollar trades. Then I upped the ante… I lost several thousand dollars.” This pattern of allowing small successful withdrawals before blocking access and demanding more deposits is a common scam tactic. Another user lamented, “This is a complete scam. They make it look really good. However, they freeze your account after a few transactions and tell you the only way to verify the account is to send them a deposit.”
Further, the reviews highlight the deceptive nature of bitiqs.net’s customer service. Users report being required to pay multiple verification fees, which only leads to more money demands. One user described the experience: “They just block your withdrawal. Then they force you to do a verification process… Once done, the funds would be free for withdrawal. However, they have deposit fees.”
Additional concerns about the platform’s promotion are raised via a YouTube channel called “Arbitrage Blick.” Several reviews mention this channel as part of the scam, warning others to avoid it. A user stated, “The company is a scam hiding behind chatbots. Initial ‘test’ transactions went thru OK, however, once you start working on the platform, you begin to have issues.”
Users’ experiences collectively paint a picture of a highly sophisticated scam operation. They exploit trust with initial successful trades, then trap users into endless deposits under various pretexts, eventually locking them out and stealing their funds. The consensus among reviewers is clear: bitiqs.net is not to be trusted.
The Bottom Line Regarding Bitiqs.net
After a thorough analysis of bitiqs.net, it is clear that this platform is a sophisticated scam. The site’s pattern of enticing users with initial successful transactions, followed by freezing accounts and demanding additional deposits under various pretexts, strongly indicates fraudulent activity. The lack of comprehensive contact information, numerous negative reviews from users who have lost substantial amounts of money, and the unrealistic promises of high returns corroborate this conclusion. Despite the professional appearance and enticing offers, bitiqs.net employs classic scam tactics to deceive and exploit unsuspecting investors.
- How the JettDeFi.com Scam Operates