Bintep Global came into focus after someone at the exchange contacted one of our reporters on Discord on June 1. The message that they sent is this:
“You have been randomly selected for the Giveaway among users of Solana Tech. We are a fast-growing crypto project which offers the best conditions to hold or trade your Crypto!
To attract new users we have organized a giveaway with 200 prizes worth almost 25 BTC! You WON: 0.294 BTC + bonus! How to receive your reward: Register an account: https://bintep.com/ Click on the “Ref. codes” tab and activate your promo code: KD7YBP3NT5 Done!”
It further said that the code was valid for 24 hours, adding that the withdrawal of winnings must be made within 48 hours. Since exchange scams are increasingly common, we decided to run a background check on this exchange. Here are some of the things that we found out.
What Google Search Turns Up
A search of the words “Bintep” and “Bintep Global” returned the exchange, which was described as a trading platform. On the third result from Scam-detector.com posted 4 days earlier,
“Our Scam Detector’s LDTR® offers a review of this business and its industry. We used 53 powerful factors to authenticate if bintep.com is legit.”
However, a click on the result returned a 403 error.
Date of Registration of Domain
A Whois search shows that the domain, Bintep.com was registered on May 28, 2022. This new domain points to the exchange which has already started soliciting for customers. What is obvious is that there is no other information regarding the owner of the exchange whose registrar is OwnRegistrar, Inc.
Social Network Presence
A search for a social presence shows that the exchange has none at Facebook, Twitter and LinkedIn. This was confirmed at the site, which did not indicate any social links.
Ownership of Exchange
Also, there is no information about the owner of Bintep Global or the team behind it. This is unlike other popular centralized exchanges that do not conceal the identity of their owners and team.
Bintep About Us Page
The About Us page, located at the bottom right side of the website describes the exchange as “a user-friendly crypto service provider.” It further states that:
“Founded in 2018, BinTep Global is known as the exchange of high performance and mega transaction matching technology. The team at BinTep Global are some of the first movers and pioneers of financial and blockchain technology.”
Other claims by the owner is that it serves 200 countries and is used by 6 million people.
This, of course cannot be true, since we have already seen that the domain was registered in May 2022. A new business cannot possibly have generated 6 million users. Also, lying about when the exchange was established makes it obvious that the operator cannot be trusted.
Back To Discord Contact
The Discord contact , Kote007, that introduced Bintep Global to us wrote:
“You have been randomly selected for the Giveaway among users of Solana Tech. We are a fast-growing crypto project which offers the best conditions to hold or trade your Crypto! ”
Since they initially mentioned another website, Solana Tech, before posting the Bintep link, we suspect that there must be another site where they copied from. A search for Solana Tech led to the public channel of Solana, the so-called Ethereum Killer blockchain network.
Signing Up At Bintep Exchange
To determine the purpose of the exchange, we signed up with the Ref. code provided by Kote007. After confirming the sign-up email, we saw that the account balance was actually 0.294 BTC. An attempt to withdraw the bait fund was unsuccessful. The response that we received was:
“ERROR! Your account has a “STARTER” status. To withdraw the funds, you need to get the status of account “USER”, by making a verification deposit of 0.015 BTC or equivalent [ 0.25 ETH / 7 LTC / 2.5 BCH ] which will be credited to your account.”
A 0.015 BTC Deposit To Withdraw Scam
It became obvious to our investigative team that Bintep Global is just another first deposit to withdraw scam posing as a cryptocurrency exchange.
There are hundreds of similar sites that have been set up to steal from traders and investors. The concept of this fraud is the same: lure the investor with a giveaway, then ask them to make a smaller deposit before they could withdraw the giveaway fund. If they make the deposit, they’d be told to make more deposits. This goes on, until the user realizes that they have been defrauded of their fund by another fraudster.
Bintep Global is a scam exchange. Investors and traders must never send money to random exchanges that do not have a reputation to protect. Check here for the exchange that we recommend.
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