'Bittrex Crypto Giveaway' Scam Uses Familiar Crypto Bait

During an investigation of fraudulent websites, our team uncovered the "Bittrex Crypto Giveaway" scam. It masquerades as a Bittrex promotion and offers to double up on the amount of cryptocurrency that users transfer to it. However, those who fall for the scam will not receive any return funds and will end up losing everything they send.

This fraudulent scheme claims to be a giveaway worth 100 million USD hosted by Bittrex. It is important to note that this scheme is not affiliated with Bittrex or any other legitimate individuals or organizations.

The scam alleges that it aims to promote the mass adoption of cryptocurrency. It supposedly offers 1,000 BTC, 10,000 ETH, 200,000,000 DOGE, and an unspecified amount of Tether on the Ethereum network (USDT ERC20) as part of the bogus giveaway.

The scam instructs users to transfer a certain amount of cryptocurrency to the provided digital wallet addresses to receive double the amount back. These amounts range from a tenth of a Bitcoin to 50 BTC, 1 to 500 ETH, 5,000 to 5,000,000 DOGE, or an unspecified amount of USDT ERC20. At the time of writing, the crypto amounts are worth roughly 2,700 to 1,3 million USD for Bitcoin and around 1,800 to 900,000 USD for Ethereum.

It is important to reiterate that the "Bittrex Crypto Giveaway" is a scam, and the scammers behind it will keep all the transferred cryptocurrency, leaving victims with nothing.

What Are the Biggest Telltale Signs of a Crypto 'Giveaway' Scam?

Crypto giveaway scams are unfortunately common in the crypto world, and they often target unsuspecting individuals with promises of easy money. Here are some of the biggest telltale signs of a crypto giveaway scam:

• Unsolicited messages: If you receive a message out of the blue from someone you don't know offering you free crypto, it's likely a scam. Be wary of messages from people you don't know, especially if they ask for personal information or money.
• Too good to be true: If the offer seems too good to be true, it probably is. Scammers will often promise large amounts of crypto for little or no effort on your part.
• Requests for personal information: Scammers may ask for your private keys, seed phrases, or other sensitive information. Never give out this information, as it could lead to the theft of your crypto.
• Pressure to act quickly: Scammers will often create a sense of urgency and pressure you to act quickly. They may claim that the offer is only available for a limited time or that you need to act fast to claim your prize.
• Fake celebrity endorsements: Scammers may use fake celebrity endorsements to lend legitimacy to their scheme. Be wary of endorsements from celebrities or public figures, especially if they seem out of character or unusual.
• Upfront payment: Scammers may ask for an upfront payment before you can receive your crypto. Never send money to someone you don't know, especially if they promise to send you more money in return.
• Lack of transparency: Legitimate crypto giveaways will typically have clear rules and terms, and they will be transparent about the process. If a giveaway seems unclear or secretive, it's likely a scam.

In general, it's important to be skeptical of any unsolicited messages offering free crypto, and to do your research before sending money or personal information to anyone. If you're unsure whether a giveaway is legitimate, it's always better to err on the side of caution and avoid it altogether.