Bitfinance is a deceptive brand designed to dupe unsuspecting traders and investors into paying for fake plans and crypto exchange options. In the table below, you will see four bogus websites used in this scheme.
One appears on multiple regulatory warning lists, prompting the anonymous crook to shut it down and start with a new one. If you’re dealing with this platform, please read our Bitfinance review and find out how to get your money out of there.
| Regulated by: | Unregulated Investment Firm |
| Is This Company Safe? | No, the platform is blacklisted |
| Known Websites: | bitfinance.biz (active), bit-finance.io (inactive), bitfinance.ltd (inactive), bitfinance.cc (inactive) |
| Have Warnings from: | FINMA, BCSC, OSC |
| Registered in: | UK (allegedly) |
| Operating since: | 2022-06-03 (active site) |
| Trading Platforms: | N/A |
| Maximum Leverage: | N/A |
| Minimum Deposit: | 100 USD |
| Deposit Bonus: | N/A |
| Investment Products: | Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator, or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Bitfinance Regulated?
The website has provided a certificate of incorporation allegedly issued by the United Kingdom Company House. It says the Bitfinance crypto investment platform is operated by FXBIT TRADING LIMITED.
However, we looked up this entity in the Company House register and found out that it had been dissolved in July 2021. The business kept going despite it, resulting in financial market regulators reacting to its illegal practices.
That same month, the British Columbia Securities Commission (BCSC) issued a warning against the investment fraud. Since this didn’t stop the scammers, another Canadian watchdog sounded the alarm – the Ontario Securities Commission (OSC) on February 1, 2022.
And because the scheme “transferred” its seat to Switzerland, the Swiss Financial Market Supervisory Authority (FINMA) blacklisted it in March 2022. That’s three top authorities against the platform.
We urge you to avoid anonymous imposters like Bitfinance and Titan Wealth 24. Choose reputable companies that are supervised by leading financial authorities like the FCA (UK), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), BaFin (Germany), etc.
Who Are Bitfinance’s Targets?
According to WHOIS, the bitfinance.biz website domain – the only active out of the four – was created on June 3, 2022. For some time now, the financial swindlers behind the platform have been targeting primarily traders and investors who reside in the following countries:
- United States;
- United Kingdom;
- Germany.
All these countries have tight financial market regulations and authorities that enforce heavy laws to prevent unauthorized phonies from running their schemes. One common rule stipulates that each market participant must obtain a permit to operate.
As we have already proven, Bitfinance has no such authorization, meaning its whole business is one big hoax created to steal money. Similar shady providers include Blantomic.
Trader Reviews – Sharing Experiences
Do not get misled by a deceptive Bitfinance Reddit thread prompting readers to invest in a token pre-sale. Such investment opportunities usually turn out to be scams. Instead, read the 22 negative Bitfinance reviews on personal-reviews.com and learn how the platform deceived many users.
We recommend you always check what users say about a certain platform before you risk your money. Negative reviews may just save you from getting defrauded.
Please run a thorough analysis of the company you are interested in to find out if it appears on regulatory warning lists, as was the case here.
How the Investment Scheme Works
Scammers involved in investment schemes typically run duplicitous tactics to exploit unwary traders and investors. A common method is the Ponzi scheme model. In this shady structure, returns to initial investors are funds obtained from newer investors, enabling the fraudsters to create an illusion of profitability.
Such systems inevitably collapse, and the epilogue is the crooks disappearing with the loot and the victims finding themselves in financial ruin.
Upon investigating the crooked website, we stumbled upon a referral program, awfully resembling the above-mentioned pyramid structure. There’s no doubt Bitfinance is up to no good.
Cyber thieves lure in victims by promising unrealistically high returns with minimal risk, leveraging the appeal of quick profits to win over potential victims. They also promote fake or non-existent products, using misinformation and cutthroat marketing strategies to realize their plots.
Bitfinance investment plans
The virtual con artists are promoting extremely high returns on investments in short periods. The plans look too good to be true because they are implausible. There is no way a platform can generate such insane ROI so quickly.
As soon as you read a promise like that, know you’re dealing with a swindling website rather than a serious and transparent firm. These investment plans are fake 100%!
Deposit and Withdrawal Process
Bitfinance accepts payments exclusively via cryptocurrencies – Bitcoin, Ethereum, Litecoin, BitcoinCash, and Dogecoin – and e-wallets like PerfectMoney and Payeer. This adds layers to the funding process, which is typical of digital tricksters. Investing in this platform means you won’t be able to withdraw your funds given the fraudster’s cruel intentions.
The reason why scammers prefer crypto payments is that they are extremely hard to trace and reverse, plus allow them to remain anonymous and continue running their schemes.
Reversing cryptocurrency transactions is an intricate process that demands significant effort and advanced software. Professional assistance is essential for tracking the wallet that received the funds. Fortunately, our team of experts is available to help you recover your funds.
Key Facts To Consider About Bitfinance
Let’s conclude our Bit Finance review with a summary of the main points we have outlined – Bitfinance is an investment scheme targeting users from the United States, United Kingdom, and Germany. The plot has been exposed by two Canadian and one European regulator.
Since the platform is out to rob you of your funds, we advise you to stay away. Please do not risk your money here.
In case you have fallen victim to Bitfinance and cannot withdraw your funds, please get in touch with us. We offer professional help to retrieve your funds!
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your free consultation here and start the chargeback process.
FAQ Section
What is Bitfinance?
Bitfinance is a fraudulent investment platform aiming to steal all the funds users deposit and then vanish.
Is Bitfinance Legit?
No, this platform is not a transparent and legally approved provider. There are regulatory warnings against it.
What is CipherTrace?
A software used to trace crypto transactions and help victims recover their funds. We can help you if you have Bitfinance withdrawal issues.
Source:
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