We are always looking for new platforms/exchanges that are scamming their users to bring those to your attention so you don’t fall into their trap. One that we spotted yesterday was Bitsmtc.com looking at their website, you would think that is a legit one but when you get under the hood and you start hearing other people’s stories, is a scam.

The first thing that we did was check how old was the website. The domain is 156 days old and as we know, websites that are not at least a year old are commonly scams. Looking at some of the comments of some of the Reddit users, seems like for you to retire the funds from the website, you need to perform the know-your-customer (KYC) process using their email support address, and they don’t answer the emails.

In the same thread, we can see that another user was a victim of the same website a few days back (25 to be exact).

In the second link, you can see how the victim states that was invited to a WhatsApp group by someone called Jessica that is the assistant to someone else called “Professor Andre Brown”. In this group, they share a lot of testimonies from people saying that they were able to retire following their strategy.

Key Takeaways:

• If you get invited through WhatsApp: if someone with an assistant who calls him/herself a professor or doctor tells you that you can retire early using cryptocurrencies, is likely a scam
• If the platform or domain is very young: if the exchange hasn’t been working for a long time and the domain is very young since it went live, is likely a scam
• Too good to be true: if they promise you high returns in a short time, it’s likely a scam