Bitcoin Scam & Frauds

Scamming and Frauds are normal in crypto world. Just bcoz bitcoin reached $50000+ price in market these scammers spread their ideas in many different fields. Before they were scamming with Bitcoin doublers , Bitcoin HYIPs etc.

Now they reached Telegram groups and spreading their legs in opening fake trade sites. And giving lucrative offers to get new users trapped.

It comes in our knowledge and we started studying on their activities to mentioned how they are doing scam and frauds.


They started fake crypto trading sites to scam people. One of them i encountered is , they are getting your telegram ids from geneuine telegram channels like Stakecube channel or Binance channels. And add you in there scam telegram channel to offer you lucrative offer for example : Deposite 0.1 BTC and get 0.2 BTC in trade balance.

You will never get those amount back in your wallet if you do deposit in such sites. They are designed to recieve deposits but will never pay you.

Fake Bitcoin Trading Sites

They are designing these trade sites looks like other professional trading sites like or

Make sure you check those trading sites URL and not get confused with these similar looking domains. Also make sure to check different review sites before using any new trade sites. Also don’t give damn care on their lucrative offers. No body have free money to just give you. 


We noticed one simple method of scam they are offering is ,  Showing Binance Bitcoin price which was down due Bearish market. So ,  Example at the time of making this tutorial Market fall from $56000 to $47000. They are showing Binance is giving 1 Bitcoin at $47000 price while their fake trading website is giving price of $52000. So the difference is $5000. Its easy to make $5000. Any common non awared bitcoin trader will get trapped with such lucrative offer and can get scammed.

Once your bitcoin gone into their fake trading sites. Forget you will never able to get those bitcoin back. And due to nature of crypto coins , their is no authority to entertain your complain of scam. All they can do is close their domain or seize it. But they will open another domain. A domain cost is just $10-12.

One example is given below from a telegram channel.

Telegram channel to scam traders



Another telegram channel and fake trading sites cam in our search radar is Bex500. They are offering 100% bonus on deposit of bitcoin. Screen shot of those fraud telegram channel

Lucrative offer to scam bitcoin



Its simple , you joined a genuine telegram channel like Binance , StakeCube etc . They too have accounts on those sites and they are also connected on those telegram channel. From there they are picking your userid and add you in their fake telegram channel to scam you. If you are new and greedy , its easy for them to make your mind off with their lucrative offer. Once you give attention to them , you are trapped. That’s it.

Bitcoin is not scam, its our stupidity and greed which makes us get trapped in scammers hand.