Is Bitbeast Legit or Another Scam? The Truth Revealed

Bitbeast - Crypto Scam Review
Written by Daniel Zimmerman

Recently, Bitbeast.io website popped up, promoting itself as a place where you can securely keep cryptocurrency and other assets. I managed to gather reliable supporting information that unmistakably indicates it is, in fact, a deceptive service.

Despite what Bitbeast site says, they will never refund your money. Despite the figures displayed in the “member area”, there is no ability to take out even a coin. All commitments regarding crypto bonuses are empty as well.

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Bitbeast Scam Overview

The main feature that Bitbeast attempts to provide is a protected and user-friendly crypto wallet service. The website promises exchange services, tools for handling wallets, transfers, dashboards, and similar stuff. In fact, they aim to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in actuality solely serves as a shell intended to deceive the cautious.

Bitbeast.io Scam

Bitbeast Scam

Initially, Bitbeast imitates the layout of multiple equivalent websites. There are quite a few examples, like Bycoinx, Binodax or Baywex. They are entirely undistinguishable in terms of visual elements, with slight discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are the same. Presumably, all these scam websites are led by a single gang of frauds.

Cryptocurrency Scam Summary

Website Bitbeast.io
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 104.21.66.228
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Bitbeast Scam Works?

Bitbeast is yet another online platform within a extensive network of linked crypto fraudulent sites. The administrators utilize different brand names and sites, like Bitbeast.io, to trap victims. Nonetheless, these fraudulent sites possess the same website designs, terms of service, and About content. This unveils their beginnings as components of the equal criminal network, which advocates the identical form of deception under diverse appearances. The deceivers just duplicate the same fraudulent website under various names to fool users into thinking they are joining a new opportunity. However, in reality, it’s the equal group of swindlers orchestrating the deceptive commitments and efforts to grab deposited money. The managers cleverly employ psychological tactics and enticing propositions to carry out their deceitful plots.

Step 1: Spreading

To begin the deceptive scheme, criminals create and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and paid ads (when possible), fraud actors boost the exposure of their deceptive activities to potential victims. This approach permits them to cast a broad net and engage with their aimed audience. The latter commonly comprises of cryptocurrency enthusiasts searching for prospects to generate profits.

Users get an incentive to enroll, attracted by the commitment of getting crypto prizes valued at thousands of dollars, all for free. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Users who express interest go to Bitbeast.io via links present in promotions or bot-generated posts. The site utilizes captivating visuals, design features that appear authentic, and assertions of possessing a legitimate license, all aimed to project an initial impression of reliability.

Step 3: Data Gathering

To claim their benefits, users must proactively sign up on Bitbeast and get guidance to submit sensitive and private data throughout the registration procedure. This includes linking their cryptocurrency wallets, sharing email addresses, giving phone numbers, sending in identification papers, and the like.

Step 4: Requesting funds

Once signed up, users observe substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Bitbeast wallets. However, as is typical with such incentives, you cannot withdraw them before making a deposit. Usually, a payment of $100 is asked to access the sign-up bonus. This stipulation serves as the snare that ultimately results to the money loss.

Step 5: Disappear

The moment the funds transfer is made, the scammers cease all communication. They proceed to bar users, erase accounts, and vanish with both the transferred capital and vital private data. The phony prizes remain perpetually uncredited, as they lack real existence. They act purely as a deceptive ploy. This method forms the foundation for the fraudsters’ capability to deceive victims and misappropriate hard-earned money through their deceptive web crypto scam.

Signs of Scam

I gathered several facts that point at the scammy nature of the Bitbeast.io. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

  • Unsubstantiated Credibility. Bitbeast employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
  • Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Bitbeast exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Bitbeast as a scam.
  • Dubious Corporate Information. Bitbeast arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
  • Exclusive Cryptocurrency Payments. Bitbeast.io solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
  • Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
  • Groundless Hype Tactics. Bitbeast utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Bitbeast site and fell victim to that scam, there are still some steps to take. They will make further scam attempts harder, and also boost the knowledge about that scam among folks.

  • Report the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
  • Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
  • Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
  • Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
  • Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

Scan your system for possible malware infections

Beware of cross scams! Scam actors can use your trust to make you download some stuff or interact with certain documents. It may be a trap that installs malware to your system. There are no moral barriers or limits for these scoundrels.

Throughout the course of the scam, fraudsters may get in touch with you with particular documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we earlier determined, these rascals have no intent of giving back your funds. So, what do these messages and browser plugins represent? You guessed – that is another element of the scam designed to entice you into deliberately installing harmful programs onto your device.

Both plugins and attachments attached to emails can serve as a shell for diverse malicious code. In this case, I anticipate the presence of spyware and stealers among other forms of threats. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As noted, their morality is of little concern, and their reputation is already severely tarnished. They have nothing to give up and intend to boost revenues.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

Gridinsoft Anti-Malware - Main Screen

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

setup-gridinsoft-fix.exe

3.Follow the installation setup wizard's instructions diligently.

Gridinsoft Setup Wizard

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Scan for spyware malicious programs

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

The spyware was Found

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

The spyware has been removed

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

Trojan Killer - Main View

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

Download Trojan Killer

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

Install Trojan Killer to Removable Drive

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Click Update Button

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Searching spyware Virus

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

Searching spyware Finished

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Restart needed

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

Is there any real info on Bitbeast site?

The vast majority of information posted on the Bitbeast site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Bitbeast site promices real?

No, there is no legitimate information on the Bitbeast site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Bitbeast scam?

Unfortunately, recovering funds lost to a scam like Bitbeast can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Scrutinize Celebrity Endorsements. Be cautious of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
  2. Resist Urgency. Watch out for tactics that create a sense of urgency to pressure quick decisions. Legitimate investments offer time for research and consideration.
  3. Consult Reviews and Feedback. Look for independent reviews and feedback from fellow traders. Scammers may create fake positive reviews, but negative reviews can provide valuable insights.
  4. Question Unrealistic Promises. Be skeptical of offers promising unrealistically high returns or guaranteed profits. If an investment opportunity seems too good to be true, it likely is.
  5. Verify Regulation and Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.

What should I do as a victim of a Bitbeast.io scam?

If you have become a victim of a Bitbeast or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Thoroughly Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
The truth about Bitbeast

Name: Bitbeast

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Bitbeast, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Bitbeast scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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