Biteffer – How Fraudsters Lure Hodlers To Fake Exchanges

Biteffer

If you visit Biteffer, you’ll notice that it is a clone of CEX.IO little or no traffic. You would wonder how the fraudster behind it hopes to steal from people with such an obscure site. This is what we found out. The fraudster behind the site source for the contact of crypto users and send them messages asking for help to withdraw some coins stuck on the exchange.

“I need help with [sic] withdraw my btc from one exchange..
I have moved to Macedonia and here crypto [is] banned now…
so exchange blocked withdraw [sic] for me … if you want you can take 0.06 btc for a help.”

It is not clear if the scammer is just bad with his English or non-native speaker. What is obvious is that they’re trying to send hodlers to the scam site where they’re made to open an account to receive the ‘stuck’ crypto.

Their next message confirms this:

“The main problem that еxchange blocked me [from] withdraws [sic] on external wallet
but I still can make internal transfers. So you just need to create an account there ,
so I will transfer my btc to yоu and you gonna withdraw it on your wallet,
keep 0,06 for yourself and send rest to me .

First of all you need to create account on exchange where I have btc , so I can make transfer to you

https://biteffer.com

Site will show you address, send it to me please.”

BitefferWell…what do you expect? When you sign up with the scam exchange, the fraudster who is behind the site sends you some bitcoins internally but you won’t be able to withdraw it. You’ll receive prompted message asking you to make some deposits before making a withdrawal since your account is new. If you do, you lose the funds you sent to the scam site.

The bait is the supposed reward of 0.06 BTC. Crypto users should beware of these scams. Even if you can’t trade, there are better ways of investing your funds and making some gains instead of losing them to fraudsters.

 

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Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

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