Someone said life is in stages while men are in sizes. That could be applied to scams also. Some scams are more daring than others. I mean there are scams that should be obvious such as 10XBTC Net.
The people behind it don’t seem to care possibly because they are confident that there are people who are still uninformed about how things work who would still fall for these scams.
An Obvious Scam
What would you say if I tell you that there’s a site that could multiply all your money 10 times? That means that if you’ve got $700, all you need do is send it to this site and bam…you’ll have $7000 in your account in a few hours or days?
Would you make the transfer or perhaps start small with say $100? Whatever your decision, what are the chances that you won’t get scammed? Probably none.
That’s exactly what has been happening with many investment sites. The situation has gotten to alarming proportions with cryptocurrencies coming on board in the past few years.
There are many sites that are out there contending to convince investors to send their digital currencies to be increased, multiplied or doubled. However, the real intention of such sites is to steal the funds sent to them.
What is 10XBTC Net?
10XBTC Net is a bitcoin multiplier that claims they could multiply your bitcoins times ten in guess how long? Just 10 minutes. I wouldn’t know how anyone would even believe that it is possible to accomplish that.
According to the site,
“We provide the fastest bitcoin multiply. We need just 10 minutes to multiply 10x your bitcoins. All you need is just to send us your bitcoins, and wait up to 10 minutes to receive the multiply bitcoins back to your address! GUARANTEED!”
This Cannot Be Real
You only need to take a close look at that web copy to understand that this cannot be a genuine business. I mean, there’s no company that sets out to multiply people’s money without doing anything.
There is no claim or evidence that the entity behind the site is involved in any legitimate business. So how would they get the bitcoins they promised to pay you for sending your coins to them?
In any case, even if there is a legitimate business behind the site, the possibility that it could multiply your bitcoin times ten in 10 months is non-existent, talk less in 10 minutes.
Who is Behind the Site?
As expected, scam sites never reveal the identity of the persons behind them so it is not surprising that there is no mention of the owner of this site.
A Whois search shows that the domain was registered on February 29, 2016. This means that it has been a while this site has been online. This means that it has been a financial risk to users.
Consequently, quite a number of people have already lost some funds to it since we are convinced that there are users who would actually believe that they can earn or multiply their assets through sites like this.
False transaction IDs
When you scroll down to the base of the site, you would notice a table that displays payments made by the investors and the purported rewards they received after their funds have been “multiplied”.
In reality, none of the links work. In fact, the wallets are not really wallet links. This is an intentional act to make sure that you have no way of verifying if they actually made deposits top the site and received rewards as claimed. Which are verifiable on the blockchain.
What we have on the 10XBTC Net site are claims that are not verifiable because they are false. It is not possible to multiply your bitcoins so they used claims and deceit in the bid to convince the potential user to send their funds. Genuine Bitcoin transactions are backed with transaction IDs.
What is the Motive for this Scam?
Now why would you believe that it is possible for anyone to multiply your bitcoins? If they could do it, they wouldn’t need your coins, they wouldn’t even ask you because they would concentrate on multiplying their own digital currencies.
Bitcoin is money, so people don’t pick it from the floor, neither should you expect to earn it easily. A lot of people think that it is generated easily from some computers. That is why cyber criminals such as those behind 10XBTC Net set up their sites to fool people into sending then bitcoins.
You can be sure of one thing. If you send your coins to this site, you’ve just lost them because you won’t get anything back.
Scam sites spring on net every day. This is why it is important that you gain insight into the type of investment you want to venture into before parting with your money. Crypto transactions are not reversible. So when you send your funds to a scammer, getting them back is nearly impossible.
This is why we recommend that you use only sites that have built long term reputation for your investments. These sites must be regulated by the relevant authorities who ensure that your funds are not misused. If you are experienced as a trader, there is a site that everyone knows about that is appropriate for you.
If you are not experienced and need an investment site that used a social trading system to make sure that every participant grow their assets, here is our top recommendation.
For your views on 10XBTC Net, please use the comment box below.