Bitelop Reviewed: Legit or Total Ripoff? Read This First

Recently, Bitelop.com service appeared, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible evidence that unmistakably reveals it is, in fact, a fraudulent site.

Despite the promises of the most convenient, trustworthy, and client-friendly service, Bitelop.com does not fulfill any of them. In fact, all this is just a golden wrap around a blatant scam, which takes your money and never gives them back. Any stories about gifts, sponsorship from celebrities etc are non-existent as well.

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Bitelop Scam Overview

Originally, Bitelop poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another bright selling point for this site is partnerships with celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, con actors employ AI-generated videos with those celebs promote the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Bitelop Scam

First and foremost, Bitelop copies the layout of multiple equivalent online platforms. There are quite a few examples, like Zokdex, Wixcryptos or Usaxdrops. They are completely undistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other particulars, and sometimes even crypto wallet addresses, are identical. Probably, all these scam websites are operated by a single team of swindrels.

Cryptocurrency Scam Summary

How the Bitelop Scam Works?

Bitelop is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use several website designs, which still share the same overall layout. Another shared 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 advanced 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 establish and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and paid advertisements (when feasible), fraud actors boost the exposure of their scam activities to possible victims. And as I said, fraudsters do not disdain using deepfake for creating videos with the mentioned celebs that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users receive a stimulus to register, attracted by the commitment of getting crypto rewards valued at hundreds of dollars, all for free. To enhance the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Upon following the ads, targets end up on a page filled with appealing offers. “Crypto starts with Bitelop”, “Your crypto savings are secured with Bitelop, “Start earning with Bitelop – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that retrieving the promised bonus requires registration. And since nothing concerning happens at this point, unaware users happily proceed – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal information, rascals will not be able to 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 mentioned, deceivers bait folks for registration with bonuses. And all the personal data needed for it – email, username, crypto wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any crypto purchases require you to have funds on your account. With Bitelop, users are also compelled to top up to use the bonuses. And these top ups is what creates most of the cash flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred money and withdraw them.

This, however, is where the victim notices the problems. When comparing the real cryptocurrency wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to pull out 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 swindlers have zero intentions to send you money. Though to make the fraud look more legitimate, they’ve made up a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what KYC guidelines say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for your personal data, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your funds back. And every check will share more and more information, which – you guessed it right – will be then sold 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 Bitelop.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Bitelop often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Bitelop.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Bitelop raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Bitelop.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Bitelop preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Bitelop as a scam.

What Should I do as a Victim?

If you had to deal with Bitelop 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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, rascals may get in touch with you with specific files. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we already figured out, these scoundrels have no plan of giving back your capital. So, what can these email messages and browser plugins represent? You guessed it right – this is another element of the scam designed to throw you into deliberately running malicious programs onto your device.

Both add-ons and attachments included to emails can serve as a carrier for different malicious software. In this scenario, I foresee the presence of spyware and stealers among all types of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always greater than zero. As noted, their conscience is of little concern, and their reputation is already seriously marred. They have no scruples to lose and intend to maximize profits.

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Frequently asked questions

The truth about Bitelop

Name: Bitelop

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