Beware the Crypto Pump and Dump Scam

I got scammed!

I thought I did my due diligence and investigated the site but wow was I mistaken. Hopefully this will help people out there to avoid this type of thing.

A bot found me on Discord with an invitation:

I knew that pumping was real because I’ve seen it happen. I wasn’t sure why it benefitted to have other users profit off of it but I thought I’d sign up and check it out.

The instructions were fairly simple:

Not very popular exchanges are chosen for work in order to make it easier to make a pump. Exchange: https://btchangex.com/signup The whales said that this exchanger was chosen due to the fact that there is a low chance of getting an account lock during pumping How to participate in the pump and get profit? As soon as I gave you a signal about a coin, you need to purchase this coin on the exchange. To begin with, you must have a cryptocurrency on your account. If it is not there, then you need to make a deposit.

To begin with, you must have a cryptocurrency on your account. If it is not there, then you need to make a deposit. 

[7:09 AM]1. You have to sell your Bitcoin or Ethereum for USDT;

[7:09 AM]2. You have to find the coin we need in the search and purchase it for USDT;

[7:09 AM]3. As soon as I give a signal to sell a coin, sell it for USDT!

[7:09 AM] Success! You have successfully participated in the pump and got a profit! Recommended amount to invest for a pump: +500$ WARNING! I write the time when the pump will start and when the coin should be sold. TIME I ALWAYS WRITE IN TIME ZONE GMT

They actually posted a video explaining the scam as a way to legitimize the effort:

The video doesn’t mention that people will use fake crypto trading platforms to lure people in to the racket.

The site had a lame domain but it looked legit. They even have an identification center where you upload all your personal information. This KYC (Know-Your-customer) is common for crypto companies so I didn’t think twice.

I watched as the pump occurred and was impressed. I could easily double my money in a matter of minutes!

I made two trades and quadrupled my money. Things were going great!

Then, I tried to withdraw my crypto.

The app gave me an error:

ERROR! Limit exceeded to withdraw your balance you need to get a VIP status. For VIP status, make a deposit in the amount of 0.15 BTC or equivalent in [ 2.94 ETH / 52.5 LTC / 24.65 BCH ] TERMS OF USE [VII. VERIFICATION – 06).

Here we go. You need to deposit more funds in order to withdraw your funds. Here’s my chat with their chat service:

Please advise: ERROR! Limit exceeded to withdraw your balance you need to get a VIP status. For VIP status, make a deposit in the amount of 0.15 BTC or equivalent in [ 2.94 ETH / 52.5 LTC / 24.65 BCH ] TERMS OF USE [VII. VERIFICATION – 06).

BtcHangex joined the chat

HI

Hello, this is not an error, this is a condition for all accounts, in order to open all the possibilities of your account, you must obtain VIP Status, as indicated in the message

I can’t withdraw without depositing more?

Where is that explained in the terms?

06. VIP Verification is issued to all users who have made a deposit of more than 0.15 bitcoins. With the help of VIP verification, you can instantly withdraw your funds without limits.

What is the limit without depositing .15BTC?

Can you describe more precisely what you mean by the question about the limit?

What is the withdrawal limit if I don’t deposit .15BTC?

You need VIP status to withdraw

Unacceptable. Please release the funds

Unfortunately, withdrawal is possible after obtaining VIP status.

Then please make me a VIP

As stated in the terms and conditions, you need to make a deposit of 0.15 BTC in which case you will receive the VIP status

I filed a complaint with https://www.ic3.gov/Home/FileComplaint but that money is gone. I hope you avoid the same fate!

Other scam sites include:

BTChangex : btchangex.com/

bit-tokens : bit-tokens.com/

tokens-wallet : tokens-wallet.com/

Bitlatoz : https://www.bitlatoz.com/

Bastotrading : https://bastotrading.com

bitmoney-wallet.com : https://bitmoney-wallet.com/

dotxfire.com: https://dotxfire.com/

Nerxbit.com: https://nerxbit.com/

SwaperBit

https://bit-wide.com/

https://qiffebtc.com/

https://rank-crypto.com/

https://ibb.co/

Please comment below with other scam crypto sites to help people avoid them!

I’m not scared off of crypto—there are plenty of legitimate ways to make money in cryptocurrency—but it does shake me a bit. If it’s not your wallet, they’re not your coins!