Bitectum Reviewed: Real Deal or Total Ripoff? Read This First

Written by Daniel Zimmerman

Recently, Bitectum.com service surfaced, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible proof that clearly confirms it is, in truth, a fraudulent platform.

Despite what Bitectum site states, they will never refund your money. Despite the money displayed in the “member area”, there is no way to take out even a single cent. All promises regarding crypto bonuses are baseless as well.

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Bitectum Scam Overview

The key feature that Bitectum attempts to provide is a protected and user-friendly cryptocurrency wallet service. The site pledges crypto exchange facilities, tools for handling wallets, transfers, dashboards, and similar stuff. In reality, they endeavor to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it actually exclusively serves as a shell intended to mislead the cautious.

Bitectum.com Scam

Bitectum Scam

First and foremost, Bitectum imitates the design of multiple equivalent pages. There are quite a few examples, like Bitcetix, Bepwax or Bedfinex. They are totally undistinguishable in terms of graphic elements, with small discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are matching. Most likely, all these fraudulent websites are operated by the same gang of frauds.

Cryptocurrency Scam Summary

WebsiteBitectum.com
HostingAS13335 Cloudflare, Inc.
United States, San Francisco
IP Address104.21.77.178
Threat TypeScam/Fraud
Scam TypeFraudulent offers of cryptocurrency services

How the Bitectum Scam Works?

Bitectum is yet another website within a extensive network of interconnected crypto scam sites. The administrators utilize different brand titles and websites, like Bitectum.com, to ensnare victims. Nonetheless, these false websites possess matching website designs, terms of service, and About Us content. This reveals their sources as a part of the same criminal network, which promotes the identical form of scam under different disguises. The scammers just replicate the same deceptive site under different names to deceive users into believing they are enrolling a new venture. However, in reality, it’s the same group of scammers orchestrating the fraudulent commitments and efforts to seize deposited money. The administrators shrewdly make use of psychological tactics and enticing invitations to implement their unscrupulous schemes.

Step 1: Spreading

To start the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and paid advertisements (when feasible), fraud actors increase the exposure of their deceptive activities to potential victims. This approach enables them to create an extensive net and interact with their aimed audience. The latter usually consists of cryptocurrency enthusiastic individuals seeking chances to make profits.

Users receive an incentive to sign up, drawn by the promise of getting crypto rewards valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Users who demonstrate interest go to Bitectum.com via links present in ads or bot-generated posts. The site utilizes captivating visuals, design features that appear authentic, and claims of possessing a valid license, all aimed to project an initial perception of reliability.

Step 3: Data Gathering

To claim their rewards, users must actively set up an profile on Bitectum and receive guidance to provide sensitive and personal information during the enrollment process. This comprises linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, furnishing identification documents, and the like.

Step 4: Requesting funds

Once registered, users witness significant amounts of cryptocurrency, valued at thousands of dollars, within their Bitectum wallets. Nevertheless, as it usually happens with such incentives, you are unable to withdraw them prior to making a deposit. Normally, a payment of $100 is asked to withdraw the sign-up bonus. This condition serves as the trap that eventually culminates to the money loss.

Step 5: Disappear

The instant the funds transfer is sent, the fraudsters halt all contact. They go ahead to restrict users, delete accounts, and vanish with both the transferred capital and critical individual details. The phony prizes remain perpetually uncredited, as they lack genuine existence. They operate purely as a phishing maneuver. This approach forms the foundation for the scammers’ capability to trick victims and misappropriate hard-earned funds through their duplicative web crypto scam.

Signs of Scam

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

  • Cryptocurrency-Only Transactions. Bitectum.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
  • Dubious Company Credentials. Bitectum arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
  • Baseless Hype Generation. Bitectum resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
  • Fictitious Celebrity Association. Bitectum employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
  • Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
  • Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Bitectum capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Bitectum.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Bitectum 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
  • Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
  • Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
  • Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
  • Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further financial setbacks.

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 duration of the scam, scoundrels may get in touch with you with specific files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we already determined, these rascals have no intent of giving back your money. So, what can these email messages and browser extensions represent? Correct – that is another component of the fraudulent scheme designed to entice you into willingly installing harmful software onto your computer.

Both add-ons and attachments added to emails can act as a shell for diverse malware. In this situation, I foresee the presence of spyware and stealers among other forms of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As noted, their morality is of negligible importance, and their reputation is already seriously marred. They have nothing to give up and aim to maximize 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 Bitectum site?

The vast majority of information posted on the Bitectum 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 Bitectum site promices real?

No, there is no legitimate information on the Bitectum 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 Bitectum scam?

Unfortunately, recovering funds lost to a scam like Bitectum 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 Bitectum.com scam?

If you have become a victim of a Bitectum 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 Bitectum

Name: Bitectum

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Bitectum, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Bitectum 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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User Review
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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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