We Investigated Bityang: Legit or Scam? The Facts

Recently, Bityang.com website appeared, promoting itself as a place to store cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably indicates it is, in fact, a fraudulent platform.

Contrary to the statements of Bityang.com, they won’t ever give back your money. Regardless of the numbers displayed in the “member area”, there is no means to retrieve even a single coin. All promises regarding crypto rewards are hollow as well.

Bityang Scam Overview

The primary offering that Bityang attempts to provide is a secure and convenient cryptocurrency wallet service. The site promises exchange services, tools for managing wallets, transfers, dashboards, and alike functions. In reality, they aim to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in fact only serves as a shell needed to lull the vigilance.

Bityang Scam

First and foremost, Bityang mimics the layout of multiple similar online platforms. There are quite a few examples, like Shoudex, Sapatlex or Quanlex. They are totally undistinguishable in terms of graphic elements, with small discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are identical. Presumably, all these scam websites are operated by the same group of scoundrels.

Cryptocurrency Scam Summary

How the Bityang Scam Works?

Bityang is yet another online platform within a vast network of interconnected crypto fraudulent webpages. The managers utilize different brand identities and websites, like Bityang.com, to trap victims. Nevertheless, these deceptive websites have in common identical designs, terms of service, and About content. This exposes their beginnings as a part of the identical criminal network, which promotes the identical type of scam under various disguises. The scammers simply replicate the identical deceptive site under different names to mislead users into thinking they are enrolling a new platform. However, in reality, it’s the same group of swindlers orchestrating the misleading promises and efforts to grab deposited money. The operators skillfully utilize psychological tactics and enticing invitations to carry out their deceitful schemes.

Step 1: Spreading

To start the scam, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and sponsored ads (when possible), scam actors boost the exposure of their scam activities to possible victims. This strategy permits them to create an extensive net and connect with their focused viewers. This audience commonly comprises of cryptocurrency enthusiasts searching for prospects to generate profits.

Users obtain an incentive to register, attracted by the assurance of getting crypto benefits valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Users who show interest go to Bityang.com via links present in ads or robotic posts. The website utilizes captivating visuals, design elements that appear legitimate, and claims of holding a official license, all intended to project an initial impression of credibility.

Step 3: Data Gathering

To redeem their prizes, users need to proactively create an account on Bityang and receive instructions to submit sensitive and private data throughout the sign-up procedure. This includes linking their cryptocurrency wallets, sharing email addresses, giving phone numbers, furnishing identification documents, and the like.

Step 4: Requesting funds

Once registered, users notice considerable amounts of cryptocurrency, valued at thousands of dollars, within their Bityang wallets. Nevertheless, as it usually happens with such incentives, you can’t withdraw them ahead of making a deposit. Typically, a funds transfer of $100 is asked to withdraw the sign-up bonus. This condition serves as the trap that ultimately culminates to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Bityang 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 timeline of the fraud, its masters may reach out to you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we previously determined, these scoundrels have no plan of returning your money. So, what do these email messages and browser add-ons represent? Correct – that is another element of the deceptive plan designed to throw you into willingly running malicious programs onto your device.

Both plugins and files added to email messages can serve as a carrier for various malware. In this case, I foresee the presence of spyware and stealers among other types of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always existent. As noted, their morality is of no concern, and their dignity is already severely tarnished. They have no scruples to lose and aim to boost profits.

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