Beware of Btcfly – btctradedfunds.com, a fraudulent website posing as a legitimate investment platform. Victims reported losing significant amounts of money. If you’ve been scammed by btctradedfunds.com, share your story to help others avoid falling victim.

Name of Scam: BTC Traded Funds Scam

If you’ve been affected by this scam, please share your experience to aid collective recovery efforts.

Domain Analysis

The domain btctradedfunds.com, registered with GoDaddy.com, LLC, has been active since December 2013. It is currently set to expire in December 2024. The domain status indicates it is protected from deletion, renewal, transfer, and update, standard security measures. The registration details reveal that the domain is masked through Domains By Proxy, LLC, a common practice to keep the registrant’s information private. The domain uses Cloudflare’s name servers for its DNS management.

Recently, btctradedfunds.com has been reported for fraudulent activities. Despite having a global rank and substantial traffic, this site has been involved in an investment scam, causing significant financial losses to its victims. The scam operates under the guise of a legitimate investment platform, enticing victims to invest large sums of money.

BTCTradedFunds.com Review

The website btctradedfunds.com claims to be a secure and reliable crypto asset trading platform under Btcfly.

Btcfly presents itself as a comprehensive cryptocurrency exchange platform offering various services, including spot trading, derivatives trading (such as USDT perpetual contracts and cryptocurrency futures), and an OTC (Over-The-Counter) market. The platform claims to support over 100 cryptocurrencies and more than 300 spot transactions, with leveraged trading options up to 100x. It boasts over 3 million registered users and ranks among the top 20 crypto derivatives exchanges globally. Btcfly promotes itself as having advanced security measures, 24/7 customer support, and a dynamic system of fees.

Additionally, Btcfly holds an MSB (Money Services Business) registration with the Financial Crimes Enforcement Network (FinCEN) under the legal name BTCFLY LLC. The registration was renewed on June 24, 2023, and lists various US states where it is authorized to operate. The MSB activities include money transmission and other financial services.

Red Flags

Several serious red flags indicate potential fraudulent activity:

1. Anonymous Registration: Using Domains By Proxy, LLC to mask the registrant’s identity is a common tactic used by fraudulent websites to hide their true ownership.
2. High Investment Losses Reported: Reports indicate significant financial losses by victims. This is substantial and suggests that many individuals have fallen victim to the scheme.
3. Exaggerated Claims: The website makes grandiose claims about its user base and ranking in the global crypto exchange market without providing verifiable evidence. High leverage options (up to 100x) also indicate high-risk operations, often a red flag for scams.
4. Recent Domain Activity: Despite being registered since 2013, the domain’s recent activity and renewal suggest it may have been repurposed for fraudulent activities.
5. MSB Registration: While the site lists an MSB registration with FinCEN, it is crucial to verify this registration’s legitimacy and current status directly through FinCEN’s official resources.

The contact information provided includes the address 6844 Bardstown Rd Unit 545, Louisville, KY 40291, and the phone number +1.4806242599. The email address is not directly listed but can be contacted through the GoDaddy WHOIS database. The platform also lists various payment services for deposits and withdrawals, including Visa, Mastercard, and lesser-known services like AdvCash and Payeer.

Btcfly Reviews

The website btctradedfunds.com, which claims to be a secure and reliable cryptocurrency exchange under Btcfly, has received mixed reviews regarding its legitimacy. According to ScamAdviser, the site appears legit with a positive review. However, the same site gives its subdomain h5.btctradedfunds.com a lower trust score, suggesting potential issues.

Contrarily, Yhang Mhany describes btctradedfunds.com as a scam, calling it a “Crypto Trap” and cautioning against investing in it. Similarly, Scam Detector gives btctradedfunds.com a medium trust score of 58.7, indicating that while not conclusively a scam, it has questionable elements. Scamdoc further supports this skepticism, assigning a trust index of 45% to btctradedfunds.com and a lower score of 26% to its subdomain h5.btctradedfunds.com, labeling it as having a “bad” trust index.

These conflicting reviews suggest that while there might be some operational legitimacy, there are significant red flags that potential users should consider. Quotes like “Btctradedfunds.com is a scam. Investing in this platform is a high-risk venture” from Yhang Mhany highlight the risks involved. Meanwhile, Scamdoc’s “Average trust index” rating adds to the cautious stance potential investors should take.

Btcfly Review Conclusion

In evaluating btctradedfunds.com, the balance of evidence leans towards caution. While the platform boasts a sophisticated façade and some positive reviews, the weight of negative reports and low trust scores raises serious concerns. The anonymous domain registration and the significant financial losses users report cannot be overlooked.

Moreover, mixed evaluations from various scam-checking websites, with some highlighting high risks and potential fraudulent activities, further cast doubt on its legitimacy.

These factors suggest that btctradedfunds.com exhibits many characteristics commonly associated with scams. Potential investors should be extremely wary and consider the substantial risks involved. Engaging with this platform may lead to significant financial loss, underscoring the necessity for thorough due diligence and caution in the volatile world of cryptocurrency trading.

The Bottom Line Regarding BTCTradedFunds.com

For those scammed by this site, sharing experiences can help build a case against the fraudsters and possibly aid recovery efforts. It’s crucial to spread awareness and report such incidents to appropriate authorities and forums dedicated to scam prevention and recovery.