Bitcy.biz: Ponzi Scheme advertising on Crypto News sites

[coinbureau]

Hey Guys,

I wanted to raise the topic of how some large and established crypto news sites have been promoting an "Investment Scheme" called bitz.biz. It does not take a great deal of effort to see that this has all the hallmarks of a complete Ponzi scheme.

https://www.coinbureau.com/review/bitcy-biz-latest-ponzi-scheme-target-bitcoin-users/

They use fake profiles, photoshopped the address of a Mui Mui clothing store in London as their "headquarters", offer unrealistic returns and operate on a MLM type marketing scheme.

I am sure that most people on these forums were able to see through this but those new to the crypto space may think its a legitimate investment proposal. It is also unfortunate that some of the sites where it has advertised have referral links which means that they are probably part of the pyramid in the scheme. Either that or Bitcy.biz gave them a handsome sponsorship fee.

Interested in your thoughts...

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[Nordestgaard]

Let me share a chat I just had with those guys... or rather "Diana"...

First, let me state... I am 100% aware that investing in crypto is high risk. And therefore, I try to do my research to avoid too much scammers. On bitcy.biz (sounds a bit like bitchy bitch, right?), I started my research by trying to get some answers through the chat... The first chat was interrupted after a few critical questions. So I started a new one. This is the result:



Welcome to Bitcy.biz

Diana ChadlerSupport Agent
Good

Diana Chadler Hello!
Visitor Hi again Diana... Let's be honest to eachother... I'll post a copy of this chat on bitcointalk.org since I am asking a serious question which you apparently not are willing to answer
Diana Chadler please specify the question
Visitor It was very specified... I ask you what is my risk if I invest $10K... Your front page says that the premium plan returns 7000% after 100 days... It sounds nice, but WHAT ARE THE RISKS? And how many (%) of your investors get this ROI in real life? You must have some stats.
Diana Chadler All investments carry an element of risk. Our goal is to provide maximum profit to all our investors, while keeping any possible risk at minimum.
Visitor LOL yes that was the same standard answer you gave me 30 minutes ago
But still you don't answer my question
Diana Chadler At that moment The company works and pays, fulfills all its obligations
Visitor Still not an answer to my question
WHAT DO I RISK WHEN INVESTING $10K
Is my risk $10K?
And HOW BIG A PERCENTAGE of your customers get the ROI you promise?
Diana Chadler High volatility in cryptocurrency market allows the use of various trading models. Qualified specialists of our company have developed several investment plans of different levels, which are suitable for both beginners and experienced investors.
Visitor Why don't you just give me the numbers i ask for?
I feel like talking to a bot
That just throws random standard answers
Diana Chadler Bitcy Limited uses a risk hedging system which automatically divides your deposit between a variety of automated trading strategies, and even if any of them ends the trading session at a loss, the gain from the others will still increase your assets.
Visitor Another standard answer 100% identical to the one you gave me 36 minutes ago
But never mind... Thanks Diana... You convinced me that this is not the place to put my money... As I said, I'll post a copy of this chat on bitcointalk and other forums, since this pretty much looks like another crypto scam
Diana Chadler And can you guarantee anything to anyone? Who can guarantee what in our life?
Visitor I can guarantee that I don't guarantee anything that I can't guarantee... And also I can guarantee that I would answer honestly to all questions related to my business, since I have nothing to hide
And by the way... Congrats on being one of the 856 best headshot images on pinterest
https://www.google.d…hl=da&docid=tyqW3nouAyVZ_M Read
I'm kind of honored... I mean what are the chances.... We are 7 billion people... And then I end up chatting with one of the 856 best head shot ones... It's a 0,000012228571429% chance... Amazing... I may reconsider my investment... Seems like my lucky day
OK "Diana" - I gotta go to bitcointalk... Thanks fo ryour time

The pinterest thing is based on a google search using the image from the chat.

I don't say that this is scam... I just say... Be Aware!

[Arch245]

I think i've already got scam as i already invested to this site both USD as well as bitcoin and after they allowed me to withdraw several time,now they are stop paying (pending more than 72 hrs).Really eyes-catching site with big promotion but dont know why ?

[timerland]

Hey Guys,

I wanted to raise the topic of how some large and established crypto news sites have been promoting an "Investment Scheme" called bitz.biz. It does not take a great deal of effort to see that this has all the hallmarks of a complete Ponzi scheme.

https://www.coinbureau.com/review/bitcy-biz-latest-ponzi-scheme-target-bitcoin-users/

They use fake profiles, photoshopped the address of a Mui Mui clothing store in London as their "headquarters", offer unrealistic returns and operate on a MLM type marketing scheme.

I am sure that most people on these forums were able to see through this but those new to the crypto space may think its a legitimate investment proposal. It is also unfortunate that some of the sites where it has advertised have referral links which means that they are probably part of the pyramid in the scheme. Either that or Bitcy.biz gave them a handsome sponsorship fee.

Interested in your thoughts...

The link that you gave actually redirects to a site called mojocoin so i'm assuming that you've written it wrong and the actual site is bitcy.biz. In that case, it is an obvious scam. You don't even need to look twice, you see investment plans and you're already aware that it is ponzi.

Now, my personal belief is that any site shouldn't knowingly promote a ponzi.

Take coinmarketcap for example, their #1 advertiser seems tobe bitconnect, which is a ponzi. They also advertise HYIP programs on the side. I've seen other news sites advertise these ponzi schemes even though they say ads are not endorsed by us, blah blah blah.

They don't understand that they're dealing with vulnerable newbies here, and they could easily get sucked into something that they don't know about.