The Truth About Bittvine: Legit or Scam? Our Review

Recently, Bittvine.com site appeared, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably reveals it is, in fact, a fraudulent service.

Regardless of the promises of the most easy, reliable, and client-friendly service, Bittvine.com does not fulfill any of them. In fact, all this is just a gilded wrap around a dirty scam, which steals your funds and never returns them. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Bittvine Scam Overview

Originally, Bittvine poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another bright selling point for this site is backing from celebrities that are known in the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, rascals use AI-generated videos where those celebrities promote the fraud as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a blatant wrap around a transparent scam.

Bittvine Scam

Initially, Bittvine shares the appearance of numerous similar websites. There are quite a few examples, like Wicrex, Waexch or Monalax. They are totally identical in terms of visual elements, with minor discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive websites are operated by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Bittvine Scam Works?

Bittvine is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various 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 advanced psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals establish and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and paid promotions (when feasible), scam actors boost the exposure of their deceptive activities to possible victims. And as I said, fraudsters do not shy away 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 joins the service immediately.

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

Users get a stimulus to sign up, enticed by the assurance of getting cryptocurrency benefits valued at hundreds of dollars, all without cost. To enhance the appeal of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the promos, victims end up on a page filled with attractive offers. “Crypto starts with Bittvine”, “Your crypto savings are secured with Bittvine, “Start earning with Bittvine – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that obtaining the promised bonus requires registration. And as nothing questionable happens at this point, unaware users happily proceed – especially as the gift 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 information, swindrels will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, frauds bait folks into registration to get bonuses. And all the personal information needed for it – email, username, crypto wallet address – is valuable for user identification. Exclusively 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, you cannot use the promised bonus right away. To make at least crypto purchases on the platform with it, the user should 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 operations require you to have money on your account. In the case of Bittvine, users are also compelled to top up to get 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 deposited money and withdraw them.

This is where the first obvious issues start to surface. When comparing 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 fraudsters are naught on intentions to give your money back. But to make the fraud look more realistic, they’ve crafted a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the withdrawal impossible.

By requesting your personal data, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And every check will uncover more and more information, 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 Bittvine.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Bittvine 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 course of the scam, its actors may get in touch with you with specific documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously determined, these deceivers have no intent of giving back your capital. So, what do these email messages and browser add-ons represent? You guessed – this is another side of the fraudulent scheme designed to throw you into deliberately running malicious software onto your computer.

Both plugins and attachments attached to email messages can serve as a carrier for diverse malware. In this scenario, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their ethics is of negligible importance, and their dignity is already neck deep in mud. They have nothing to lose and strive to maximize gains.

Remove spyware with Gridinsoft Anti-Malware

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