I came across the bitoptionstrade247 scam on Facebook when a person with fake photos was promoting it.
The first red flag I saw was that they didn’t even use any affiliate link. They used a direct link. The same person is probably behind the bitoptionstrade247 scam website.
The second red flag was a well known red flag: “when something is too good to be true, then it probably is.” They claimed that anyone can turn $200 into $4500 in one week. How ridiculous, right?
The bitoptionstrade247 scam website doesn’t even have correct pages, most are dummy links. The trading animation is also a plain animated image with no actual data behind it.
The bitoptionstrade247 scam company is registered in Seychelles. There are no persons or anything that could prove that the company actually exists.
Out of curiosity I decided to try with Bitcoin and see what happens, so I could review this scam properly.
After 6 days they emailed me and told me that my profit is ready to be withdrawn. My profit was over $8500, LOL! Just from $200 in one week? How stupid do you Nigerian scammers think I am? I knew that the “profit” was fake, and there has to be some sort of scam coming up. I was right.
Now here’s the cherry on the cake.
First they asked me to create a blockchain.info wallet for Bitcoin, and give them my account access so they could “link the wallet to their system”. Obviously I refused, because I’m not an idiot. (NEVER give access to your cryptocurrency wallets to anyone whatsoever, no matter what they say!)
In this case they wanted to set the account to show “phantom funds” by pulling a WatchOnly address scam, so I could be fooled to think that I have the funds. I knew it and I refused.
Then I asked for a simple Bitcoin transaction. They said that in order to withdraw I’d have to pay the fee of 20% first: “Kindly make the payment of the 20% of your profit of $8528, which is $1705.”
I said, “why don’t you deduct the fee from my profit and send me the rest? Isn’t it easier to send me 20% less, 8528-1705=6823?”
They said, “Please note that we are not allowed to make any deduction from your profit as this is against the company’s policy, and this fee has to paid to link your wallet to our system to enable the release of your bitcoin to you.”
Conclusion: Advance Fee Fraud at bitoptionstrade247
- First, they find people who deposit $200, and they come up with a random sum of money after one week passes.
- They claim to have some trading going on, but there’s nothing. The website is a dummy, for only one purpose — to show you $$$$ numbers and scam you.
- They won’t “release the profit” to you until you pay the withdrawal fee first.
- If you’re stupid enough to pay the fee, then you will lose twice: the deposit you made, and the withdrawal fee which is many times larger amount of money.
- They would find another reason or obstacle so they will never ever pay the profit or return your deposit.
- bitoptionstrade247 is a typical advance fee fraud scam.
I hope this post helps you to see the red flags and avoid getting into these traps.
- Honest and legitimate people and companies will never ask for any advance fee. All the fees will be deducted from the amount you are to receive. If you pay any advance fees, then you will lose the fee you paid, and will never receive the promised funds.
- Honest and legitimate people and companies will never require access to any of your accounts or wallets.
- Phishing attempts can be recognized when you’re asked to “confirm” or “verify” your account by logging in via the link they provide. That way they steal your password and hijack your real account. Always log in by typing the website URL manually, never ever via any links!