Bitehex Review: Legit or Scam? Read This First

Recently, Bitehex.com website popped up, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible supporting information that clearly reveals it is, actually, a scam platform.

Despite the promises of the most convenient, dependable, and client-friendly service, Bitehex.com does not follow any of them. In fact, all this is just a gilded wrap around a blatant scam, which steals your funds and never returns them. Any tales about bonuses, backing from celebrities etc are nowhere to be found as well.

Bitehex Scam Overview

Originally, Bitehex poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable selling point for this service is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, rascals use deepfake videos with those celebs advertise the scam as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Bitehex Scam

First and foremost, Bitehex repeats the appearance of many similar online platforms. There are quite a few examples, like Antiviralsai, Xelonnex or Fatbon. They are totally indistinguishable in terms of visual elements, with slight discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are unchanged. Presumably, all these deceptive websites are managed by a single gang of scammers.

Cryptocurrency Scam Summary

How the Bitehex Scam Works?

Bitehex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the identical overall layout. Another common element are the ways the scams like NAME are promoted, and the manner all this ends up to the victim of the scam. To reach peak efficiency, frauds apply sophisticated psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the fraud, criminals create and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and sponsored ads (when achievable), scam actors increase the presence of their scam activities to potential victims. And as I said, crooks do not disdain using deepfake for creating clips with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.

Promotions of cryptoscams like Bitehex in TikTok. Most of these videos are AI-generated deepfakes

Users obtain a stimulus to enroll, enticed by the assurance of receiving crypto benefits valued at hundreds of dollars, all without cost. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the ads, targets end up on a page filled with enticing offers. “Crypto starts with Bitehex”, “Your crypto savings are secured with Bitehex, “Start earning with Bitehex – they look rather authoritative. To heat up users and make them proceed to step 3, scammers say that getting the pledged bonus requires registration. And as nothing suspicious happens at this point, unexperienced users happily proceed – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal information, crooks will not earn even a penny from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks for registration with bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the claimed bonus right away. To make at least cryptocurrency purchases on the platform with it, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any cryptocurrency operations require you to have money on your account. In the case of Bitehex, users are also coerced to top up to claim the bonuses. And this is what creates most of the cash flow to this scam site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start participating on this website hoping to use all the transferred funds and withdraw them.

This is where the victim notices the issues. When comparing the real cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that scoundrels are naught on intentions to give your money back. Though to make it look more legitimate, they’ve elaborated a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what KYC guidelines say, but for the Bitehex.com they are here only to make the wireout impossible.

By requesting your personal information, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your funds back. And each of these checks will uncover more and more info of yours, which – you guessed it right – will be then traded on the Darknet. Never reveal your real info to strangers!

Signs of Scam

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

• Absent company details. Bitehex does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Bitehex like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Bitehex, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Bitehex is a definite scam.

What Should I do as a Victim?

If you had to deal with Bitehex 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 course of the scam, its actors may get in touch with you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we previously determined, these rascals have no intent of returning your money. So, what do these emails and browser plugins represent? You guessed – this is another element of the scam designed to entice you into deliberately running harmful applications onto your system.

Both add-ons and attachments included to emails can serve as a shell for diverse malware. In this situation, I foresee the presence of spyware and stealers among all kinds of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As stated, their ethics is of negligible importance, and their reputation is already deeply compromised. They have no principles to give up and strive to maximize revenues.

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