We Looked at the Evidence: Is Bitezom Legit or Scam?

Recently, Bitezom.com site popped up, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather reliable supporting information that clearly indicates it is, actually, a deceptive platform.

Despite what Bitezom site states, they won’t return your funds. Regardless of the money displayed in the “member area”, there is no ability to take out even a coin. All pledges regarding crypto bonuses are hollow as well.

Bitezom Scam Overview

The key service that Bitezom strives to provide is a safe and user-friendly crypto wallet service. The site pledges crypto exchange facilities, tools for handling wallets, transfers, dashboards, and alike functions. In fact, they aim to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in actuality solely serves as a cover needed to lull the vigilance.

Bitezom Scam

Initially, Bitezom reproduces the design of multiple similar websites. There are quite a few examples, like Bitdex, Bitcdok or Bitcbop. They are completely undistinguishable in terms of visual elements, with small discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these deceptive sites are operated by a single group of swindrels.

Cryptocurrency Scam Summary

How the Bitezom Scam Works?

Bitezom is yet another webpage within a wide-ranging network of associated crypto scam sites. The operators employ various brand names and websites, like Bitezom.com, to trap victims. Nonetheless, these deceptive sites share the same website designs, terms of service, and About content. This exposes their sources as a part of the same scam network, which advocates the identical form of fraud under diverse appearances. The deceivers merely replicate the same scam website under different names to deceive users into thinking they are joining a new venture. However, in reality, it’s the same group of fraudsters orchestrating the misleading pledges and undertakings to take deposited cryptocurrency. The administrators skillfully employ psychological tactics and appealing invitations to carry out their dishonest plots.

Step 1: Spreading

To initiate the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and paid ads (when possible), scam actors boost the presence of their fraudulent activities to potential victims. This strategy permits them to create an extensive net and connect with their targeted audience. The latter typically consists of cryptocurrency fans searching for chances to make profits.

Users get an encouragement to register, attracted by the promise of getting crypto benefits valued at thousands of dollars, all for free. To increase the appeal of the offer, fake claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Individuals who demonstrate interest go to Bitezom.com via links featured in advertisements or robotic posts. The webpage uses captivating visuals, design aspects that appear genuine, and claims of having a valid license, all intended to project an initial perception of credibility.

Step 3: Data Gathering

To collect their rewards, users need to proactively sign up on Bitezom and receive instructions to provide sensitive and private information during the sign-up process. This includes linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once registered, users observe substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Bitezom wallets. Nevertheless, as it usually happens with such bonuses, you cannot withdraw them before topping up your account. Normally, a funds transfer of $100 is asked to access the sign-up bonus. This prerequisite serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

Signs of Scam

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

• Absent company details. Bitezom 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 Bitezom 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 Bitezom, 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 Bitezom is a definite scam.

What Should I do as a Victim?

If you had to deal with Bitezom 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 fraud, 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 crypto assets. As we earlier figured out, these rascals have no intention of restoring your funds. So, what do these messages and browser plugins represent? You guessed – this is another element of the scam designed to entice you into willingly installing destructive applications onto your device.

Both add-ons and files included to emails can serve as a shell for diverse malware. In this situation, I expect the presence of spyware and stealers among other forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always existent. As stated, their morality is of little concern, and their reputation is already severely tarnished. They have nothing to lose and strive to maximize gains.

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