Reliable. Simple. Innovative. Those are the major terms the Bits Panda scam uses to describe their services and platform. While that may seem reassuring, the red flags all over warns us about the real goals these fraudsters have.
Warnings from the financial authorities can serve to solidify all your doubts you may have had about this investment portal. So keep reading this Bits Panda review as we dive into the dark truth tucked away behind the curtains.
| Regulated by: | Unregulated Investment Firm |
| Is This Company Safe? | No, being labeled as a scam site, this company is notorious with many regulators! |
| Known Websites: | bits-panda.com |
| Have Warnings from: | AFM, IOSCO, FSC, CNMV, FSMA, A-TVP, CONSOB |
| Registered in: | Norway |
| Operating since: | 2022 |
| Trading Platforms: | None |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $100 |
| Deposit Bonus: | No |
| Trading Assets: | Crypto |
| Free Demo Account: | No |
| How to Withdraw from This Company? | You can’t expect payouts from this swindler. Contact us for help with chargeback instead! |
Blacklists Say it All
The alleged “Certificate” the company puts on display on their web presentation is not quite what it should be. Opening the link to it leads us to a Norwegian business register, where we can find some basic details about where the company is located and when it was established.
FINANSTILSYNET is the jurisdictional regulator the firm was supposed to be licensed by. One look at their database shows they weren’t.
Since several regulators have established that this firm operates without a valid financial license, they’ve immediately placed the conduct on the warnings lists. The first public alert was issued by CNMV. It was later reposted by AFM, IOSCO, FSC, FSMA, A-TVP, and CONSOB.
The absence of some basic security measures is certain. Segregated accounts, leverage cap, negative balance insurance are all required from properly regulated sites. GTS Capital isn’t one of them either, so stay away from their site, as well.
How The Con Functions
The bits-panda.com domain has been around for quite some time, as it was launched in October 2022. The majority of victims are residents of these areas:
- Germany
- Austria
- Switzerland
- Italy
- France
None of the social media links found on the website actually work, and they only serve as another layer of deception. The firm has gained momentum with traders through the hard work of boiler room agents instead.
Like with the Cupiro scam, they use the old fashioned telephone pestering to get their marks to invest. Investments simply end up stolen by the swindlers, but the money can still be recovered with the help of our experts.
Unknown Terms Scream Scam
Since nothing in life comes for free, passive income doesn’t either. As attractive as these schemes can appear, they almost always lack transparency, especially when it comes to costs. No platform would survive without their commission, let alone earn money for you without taking their fair share of it.
That’s why it’s impossible that the service is completely free of charge. No trading terms are known, either. That seriously undermines the platform’s credibility.
Features are Nothing to Brag About
Upon exploring the user area and the offered services, we found nothing substantial that could be described as worth the cash. None of the investments here will turn lucrative. You can make sure of that by simply taking a look at the (un)available features:
Trading Doesn’t Happen
Investment scams are one of the most common financial traps online. They claim to manage your funds and have experts invest and trade in your stead. That’s their leading reason why they do not offer access to a trading software. In reality, no trading terminal exists at all.
When it is so, how are customers even expected to get any of the promised returns when money making doesn’t even happen?!
Crypto Trap
The crypto craze has been ongoing for a couple of years now. That has undoubtedly attracted scammers of all sorts to come up with various alluring traps.
This textbook swindler claims huge gains happen when investing in crypto. What exactly currencies are available is not known. Also the prices of the plans are given in dollars, so no profit in crypto is calculated.
Selection of Investment Plans
As soon as you create a new Bits Panda account and access the user area, you are greeted with another server name – ENLARGEINVEST. This name isn’t mentioned anywhere on the site, so we assume it must be the con’s another project or similar.
Buying any of the overpriced Bits Panda investment packages won’t get you anything in return. So no matter how alluring they look, you might wanna rethink purchasing any of these:
- Starter plan – 6.5% in 24 hours – $100
- Advance plan – 10% in 20 hours – $1,000
- Classic plan – 7% in 12 hours – $10,000
- Premium plan – 5% in 6 hours – $20,000
Unsafe Transfers
Monetary transactions on this investment portal are conducted via cryptocurrencies. Several available digital coins are BTC, ETH, BNB and USDT. As a matter of fact, to facilitate their process of snatching funds, these con men expect you to share your wallet details immediately upon registration.
We need not mention how dangerous it is to share your personal information with anonymous channels. Moreover, no legal documents clarify withdrawal details, so you can also expect hidden fees and other obstacles to your payout.
Contacts Not Available
Alleged immediate replies to the online chat questions actually never arrive. Besides the dead direct chat option, you can also attempt to contact the service provider via an online form and an email. Nothing, however, guarantees you’ll ever get a reply.
Swindlers Took Your Cash? Fight Back For It!
Regulation is the most valid means by which you may gauge an investment firms’ credibility. Unfortunately, although this particular firm is legally registered, they operate with no license. This has prompted multiple regulatory bodies to place it on the blacklist.
The online frauds are becoming more and more widespread over the years. In most cases, however, the funds can be safely recovered. Book a free consultation with our professionals for more information.
FAQ Section
What is Bits Panda?
It is an unlicensed investment firm operating from Norway. The company has been placed on a blacklist due to the lack of regulation.
Is Bits Panda Legit?
No, this company is a fraudulent entity that does not have the necessary license to provide their services.
How to Recover Money From an Investment Scam?
Contact our recovery experts via the live chat on our website. We are available 24/7 for your convenience, and our first consultation is free of charge.
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