is bityc.net scam?

[moe00]

hey everyone, am sorry i might be posting in the wrong section.. excuse me admins.

one of my friends told me that he has been trading on bityc.net platform and he made till now 30k , he started with 700$ and then he took a loan (3000$)
the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

i am telling him that it smells fishy and that's not logic , but himself is insisting that it might be legit because as he says, he was able to withdraw from his other account he created an amount of 400$ - deposited 100$ and got 400$ in trading to his own binance wallet.

can someone please provide us with information about this website / platform are they really trying to scam him?

thank you.

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[xLays]

hey everyone, am sorry i might be posting in the wrong section.. excuse me admins.

one of my friends told me that he has been trading on bityc.net platform and he made till now 30k , he started with 700$ and then he took a loan (3000$)
the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

i am telling him that it smells fishy and that's not logic , but himself is insisting that it might be legit because as he says, he was able to withdraw from his other account he created an amount of 400$ - deposited 100$ and got 400$ in trading to his own binance wallet.

can someone please provide us with information about this website / platform are they really trying to scam him?

thank you.

I think you're posting this in the wrong section. But for sure admin or moderator will soon move this to the right section. Anyway, this is my first time hearing about this website. I did some research and checked it on Trustpilot but it wasn't available there. So I tried some other review websites some say it's a scam and some say it's safe. But based on your post I'm going to say this website is not that safe to trade or to put your friends money.

[Mia Chloe]

I looked the website up on the net and there were a lot of shaddy reviews. So I tried using a quite trusted scam checker and I got this;





Now let me guess they are asking for KYC information first before they can grant you a loan. To start with if you are serious with your privacy avoid KYC and most importantly I  would advise you to look for a better exchange to do your business and trading. Even if you decide to make use of binance wallet which is more popular and has better reviews , you will still have to do their KYC first. And I am also not sure if binance gives out loans. The website is too young and has very low traffic so it is likely a scam.

[Oshosondy]

If he pays that money, he has been scammed. He should not pay the money. The site was just created less than 5 months ago and the site is acting weird like scam sites are doing. As he has sent some money already, sorry that he has been scammed.

the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

Anytime you see something like this, it is scam. Definitely it is a scam.

[moe00]

 
[/quote]

I think you're posting this in the wrong section. But for sure admin or moderator will soon move this to the right section. Anyway, this is my first time hearing about this website. I did some research and checked it on Trustpilot but it wasn't available there. So I tried some other review websites some say it's a scam and some say it's safe. But based on your post I'm going to say this website is not that safe to trade or to put your friends money.
[/quote]

right as you say, on google scam search its obviously not clear and can not be relied on.

I looked the website up on the net and there were a lot of shaddy reviews. So I tried using a quite trusted scam checker and I got this;

https://www.talkimg.com/images/2024/02/13/vKGzC.png

https://www.talkimg.com/images/2024/02/13/vKTpI.jpeg

Now let me guess they are asking for KYC information first before they can grant you a loan. To start with if you are serious with your privacy avoid KYC and most importantly I  would advise you to look for a better exchange to do your business and trading. Even if you decide to make use of binance wallet which is more popular and has better reviews , you will still have to do their KYC first. And I am also not sure if binance gives out loans. The website is too young and has very low traffic so it is likely a scam.

well they requested his id upon registration.

If he pays that money, he has been scammed. He should not pay the money. The site was just created less than 5 months ago and the site is acting weird like scam sites are doing. As he has sent some money already, sorry that he has been scammed.

the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

Anytime you see something like this, it is scam. Definitely it is a scam.

[PX-Z]

one of my friends told me that he has been trading on bityc.net platform and he made till now 30k , he started with 700$ and then he took a loan (3000$)
the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

No question needed, it is an obvious scam. There is no legit exchange that will ask payment in exchange to withdraw the money on that platform. If you will check this section Scam Accusations ^{(which this thread belongs to)} there are lots of the same scenario with this, its either a question before dealing the scammer or a question if the platform is legit because they have paid already the asked amount by the scammer.

[Text]

Your friend is in a risky situation, you should warn him. Be cautious when dealing with unfamiliar platforms, especially if they ask for additional payments in a way that seems suspicious, it is not a common practice in reputable trading platforms. As per the reviews mentioned above, there are several red flags associated with that platform. Encourage your friend to stop any further transactions. His KYC information could be used to steal your friend’s identity.

Binance does offer loans, but the terms are clearly stated and there are no hidden fees. The loan amount is directly correlated with the amount of crypto you are willing to stake as collateral. It’s important to note that Binance would not typically ask for payment to a third-party wallet for a loan.

https://www.binance.com/en/support/faq/binance-crypto-loans-terms-conditions-360041126092

[YOSHIE]

can someone please provide us with information about this website / platform are they really trying to scam him?

A few weeks ago I read about the site bityc.com<but the only difference between net and com, is whether the owner of the bityc.com and bityc.net sites are the same person or... that's the point and what I see.

The bityc.com site is suspicious and cannot be held responsible for all the activities they carry out.

In our opinion, bityc.com - Low-trust Investment/Earning website. We advise avoid that website. The site may, under the pretext of making money, try to steal your funds.

Considering the data I saw from other sources, there are some suspicious actions about the Bityc.net site, the reasons:

They always promise things they won't deliver, and Bityc.net is no exception – they claim that customers are cheating.

For this reason, from several existing sources about the Bityc.net site, I think Bityc.net is a scam.

[Dunamisx]

hey everyone, am sorry i might be posting in the wrong section.. excuse me admins.

one of my friends told me that he has been trading on bityc.net platform and he made till now 30k , he started with 700$ and then he took a loan (3000$)
the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

i am telling him that it smells fishy and that's not logic , but himself is insisting that it might be legit because as he says, he was able to withdraw from his other account he created an amount of 400$ - deposited 100$ and got 400$ in trading to his own binance wallet.

can someone please provide us with information about this website / platform are they really trying to scam him?

thank you.

I don't know much about the platform, but am here to give you both caution with using such website we are not confidence in using, the whole process they are asking you to do looks suspicious, i don't know why you went ahead in taking a loan from them after which you have already made your own money in trading, they are trying to scam you of withdrawing from them by trying to make a first demand that you make such deposit.

[Sunderland]

hey everyone, am sorry i might be posting in the wrong section.. excuse me admins.

one of my friends told me that he has been trading on bityc.net platform and he made till now 30k , he started with 700$ and then he took a loan (3000$)
the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

i am telling him that it smells fishy and that's not logic , but himself is insisting that it might be legit because as he says, he was able to withdraw from his other account he created an amount of 400$ - deposited 100$ and got 400$ in trading to his own binance wallet.

can someone please provide us with information about this website / platform are they really trying to scam him?

thank you.

Im pretty sure that your friend gets a suggestion to trading on that site from a woman he met on the dating site or facebook or else.
The scammer probably operates in northern Shan state/Myanmar, the group recruits people from all over Asia and force them to work as online scammer.

So your friend has deposited $700 + $3k loan and became $30k now.
And he has other account, deposited $100 and became $400 then he managed to get the $400.
Well, in total he deposited $800 then got $400 back and he said the site probably legit ....
Its 100% scam, tell your friend to forget the $30k there.

You will not find many info about this site because its new, Mia Chloe has informed you that the domain age of that site is only 4 months old.
Here what I found on reddit https://www.reddit.com/r/Scams/comments/17m9i3u/someone_tried_to_scam_me_now_i_need_help/

[acroman08]

the platform support is asking him to pay 3k to a "binance wallet" claiming that the amount can not be withdrawn without payment for the 3rd party who provided or facilitated the Loan (binance).

i am telling him that it smells fishy and that's not logic , but himself is insisting that it might be legit because as he says, he was able to withdraw from his other account he created an amount of 400$ - deposited 100$ and got 400$ in trading to his own binance wallet.

can someone please provide us with information about this website / platform are they really trying to scam him?

thank you.

reading the part I highlighted, yeah, it's definitely a scam. also, the part where your friend said that he was able to withdraw on his other account is just a bait from the scammers, a lot of scammers use that strategy where they let their victim withdraw a small amount in order to gain their trust and when the victims trust the scammers and deposit a big amount that is when they'll strike, they either block the victims account saying that the victim broke their ToS or when the victims try to withdraw they'll say that the victims needs to deposit a certain amount for service fee/transaction fee/tax fee in order for the withdrawal request to be approved.

[albon]

can someone please provide us with information about this website / platform are they really trying to scam him?

How can a professional and legitimate exchange platform use a Gmail email to communicate with its clients?! Also, Bityc has a plagiarism whitepaper literally copied from Wirex, and their domain has been active for less than a year; these are clear signs that the people behind this platform are scammers.


[1] - [2]

What they did with your friend is a temptation process, playing on his greed factor. All scam platforms do the same thing where you find that you've earned hundreds and thousands of dollars but you can't withdraw them until they ask you to make a deposit. After making a deposit, they close your account and scam you. However, they may allow you to withdraw initially to gain your trust. Honestly, I don't know the purpose of your friend using this unknown platform to trade despite there being good alternatives in the market. BTW, Tell him now to stop using this scam platform and not make any deposits.

[Yamane_Keto]

Yes, it is a scam, and he did not win $30,000. It is a number in their database and it can be made to $30 million, but you cannot withdraw it. their request to send it to the Binance account is considered confirmation of the scam. Report the site and the account number to the Binance support team to ban it.

I looked the website up on the net and there were a lot of shaddy reviews. So I tried using a quite trusted scam checker and I got this;

Such tools can be easily manipulated, so do not trust them whether the service is a scam or not. The scammer can buy an old domain, write fake reviews, set up the site well to easily improve its score. They are only useful in lazy cases of fraud that can be detected with minimal effort.

[Alphakilo]

can someone please provide us with information about this website / platform are they really trying to scam him?

Hey mate, this is for you, your friend, and the next person who may be in your situation currently;

If you suspect an exchange site is a scam because something smells fishy, it likely is indeed a scam.

If you post about the website on the Scam Accusations board of the Bitcointalk forum and receive confirmation of its fraudulent nature, you can be certain it's a scam.

If you're advised by majority of the members on the forum to move on after reporting being scammed, it's expedient to take that advice to avoid falling victim to another scammer while attempting to recover your funds from the initial scam site.

[yhangmhany22]

Hello friends, bityc.net is a crypto scam. It has a sister website: bityc.com which is also a scam. be aware.

[roksana.hee]

it is scam. Definitely it is a scam.

Yeah, Definitely it is a scam site. If you (@moe00) want to invest in a safe and trusted site for future holding then you will get many trusted sites. Money is most important for living. So you don't need to invest in a scam site. Although there are many trusted sites to invest in. They give you a money-back guarantee. So you should know more from experienced friends to learn more about crypto investing sites. I hope you (@moe00) know a minor mistake will make you a long-time sufferer. Keep your money safe.

[stompix]

claiming that the amount can not be withdrawn without payment

Any service asking you that is a SCAM! /end.
You don't need to check the domain, the whitepaper, the T&S , who is running, if they have a license!
Asking you to pay money to receive money means you're about to get scammed, and if you have deposited money earlier you have already been scammed once!

I looked the website up on the net and there were a lot of shaddy reviews. So I tried using a quite trusted scam checker and I got this;

Scam checkers are garbage!

Tell me is this makes sense to you:

[khaled0111]

Just ask your friend why don't this so called exchange deduct the $3k they owe to Binance from the $30k he has won then pay him the rest!
Besides, I've never read anywhere that binance lends money to third party services, let alone lending money to what is supposed to be one of their competitors (an exchange).
There is no doubt that this is a scam and you need to warn your friend about this. He already lost $700 and you should not let him lose more.

[Orpichukwu]

One of the first red flags that could be used to identify such an exchange as a scam is that there is no normal exchange in which the user will have money in their exchange account that will ask their customer to make any external deposit before they could be able to withdraw their money out of their account; they deduct from whatever you need to pay as a fee and give you what is left. 
 
Even back then, when exchanges were charging fees based on the network you were using to withdraw from, you could still convert what you had to that network token and make your withdrawal a success without needing to make any extra deposits. 
 
The exchange needing your friend to make another deposit could only mean one thing: they are done spending the first deposit your friend gave them, and now they are in need of some extra money, which they want him to provide. Flashing him with those big profits is a means to lure him to pay that money, which he will never get back.

[ScamViruS]

This site is definitely a scam. Your friend has already deposited the funds for trading and the funds have been lost, which means that the funds can no longer be withdrawn. Now any new deposit to this exchange will be a loss, as this is a trap scammers have created to fool and scam crypto users.

Such fake scam exchanges are constantly coming online and scammers create these sites in such a way that it is often difficult for crypto users to identify if the site is a scam or not. So your friend has also fallen into the trap of scammers and he will never get the funds back.