We Investigated Bitorbitx: Legit or Scam? The Facts

Recently, Bitorbitx.com service popped up, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible proof that clearly confirms it is, in fact, a deceptive service.

Regardless of the promises of the most easy, dependable, and customer-centric service, Bitorbitx.com does not fulfill any of them. In fact, all this is just a golden wrap around a dirty scam, which takes your money and never returns them. Any stories about gifts, backing from celebrities etc are non-existent as well.

Bitorbitx Scam Overview

Originally, Bitorbitx poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another highlighted selling point for this platform is partnerships with celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, rascals employ AI-generated videos with those celebs advertise the scam as the best thing in the world. For obvious 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.

Bitorbitx Scam

First and foremost, Bitorbitx repeats the layout of multiple similar pages. There are quite a few examples, like Bitonexa, Osvipcoin or Bitmezon. They are entirely undistinguishable in terms of visual elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are matching. Presumably, all these scam online platforms are led by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Bitorbitx Scam Works?

Bitorbitx is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the similar overall layout. Another mutual 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 complex psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals establish and fill accounts on well-liked social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and paid advertisements (when achievable), fraud actors boost the presence of their deceptive activities to possible victims. And as I said, crooks do not disdain using generative AI for creating videos with the mentioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users obtain a stimulus to sign up, attracted by the commitment of getting crypto prizes valued at hundreds of dollars, all free of charge. To augment the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

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

At this point, it is possible to steer away from the scam without any losses. Before you register using your personal info, rascals 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, deceivers bait folks for registration with bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the alleged bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

It is obvious that any crypto operations require having funds on your account. In the case of Bitorbitx, users are also forced to top up to claim the bonuses. And this is what creates most of the money flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the transferred money and withdraw them.

This, however, is where the victim notices the problems. When keeping an eye on the actual crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels are naught on intentions to send you money. But to make the fraud look more legitimate, they’ve crafted a whole bunch of reasons to decline the transfer-out request. Most of them repeat what KYC guidelines say, but for the Bitorbitx.com they are here exclusively to make the wireout impossible.

By asking for your personal information, 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 should go through before getting your grand back. And each of these checks 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 Bitorbitx.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Bitorbitx 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. Bitorbitx.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. Bitorbitx 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. Bitorbitx.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%, Bitorbitx preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Bitorbitx as a scam.

What Should I do as a Victim?

If you had to deal with Bitorbitx 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 duration of the fraud, rascals may contact you with particular documents. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we earlier figured out, these scoundrels have no intent of giving back your funds. So, what can these messages and browser plugins represent? You guessed – this is another component of the scam designed to entice you into deliberately running harmful programs onto your system.

Both plugins and files added to emails can serve as a carrier for different malicious code. In this case, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always existent. As stated, their ethics is of no concern, and their reputation is already severely tarnished. They have nothing to lose and strive to maximize profits.

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