Bitmo is a scam crypto trading and investing platform that’s being used by fraudsters operating what are known as pig butchering scams.
Victims are usually message by stranger through social media platforms such as WhatsApp before a relationship is formed.
Over the following weeks the scammer will gradually introduce the subject of crypto investing and tell them about a fantastic scheme they’re involved in which is bringing them huge returns.
They’ll pressure the victim to invest, often threatening to break off the relationship due to a lack of trust or similar reason if they don’t.
Once the victim is lured in an ‘investing’ they’ll soon see the ‘profits’ start to accumulate in their account.
But when they come to withdraw their funds they’ll be blocked from doing so. The scammers will demand a fee or tax of some sort before releasing the cash, but this money will be stolen as well.
How to tell Bitmo is a scam
The Bitmo scam is easy to spot once you know what you’re looking for as there are various tell-tale signs common with many similar scams.
They include:
- A new domain name – scammers often set up multiple websites at any one time before closing them down a few months later.
- The platform is effectively a shell and offers no real trading or investing functionality.
- There are no reviews of the platform online – legitimate sites would be written about extensively.
- Poor quality and pixelated imagery on the platform.
- A login screen with no other information about the company viewable.
- No registrations, company address or other corporate/team information.
- A Domain Authority (DA) of 1 meaning the site has no inbound links.
- No social media platforms connected with Bitmo, online reviews, or apps.
It’s unlikely that you’ll be able to secure the return of your funds, but you should still report what’s happened to the relevant authorities. You can also follow the link below for a list of scam-related resources.
There are also private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.