Greetings, fellow crypto enthusiasts!
Evan Luthra here. I have been into crypto since people considered it a scam. Safe to say, I’m not new to this.
Today, I come to you with a warning about an exchange that has been up to no good – Bitget.
Bitget is a centralized exchange that has been running a widespread scam, and I am here to shine a light on its nefarious practices.
Recently, I had a terrible experience with Bitget when the team from “ReelStar” and myself had our tokens of $REELT stolen by the exchange.
The next day, Bitget started dumping those tokens in their name, crashing the price and also stealing my money in the process . It is clear that Bitget is a scam, just like the infamous ‘FTX’ exchange, which has also been exposed as a worldwide scam.
Bitget’s operations appear to be led by a Chinese team, operating through an offshore company in Seychelles. They do not seem to have any office address also..
Be cautious, almost 50% of their reserves are in their own $BGB token (Source: https://coinmarketcap.com/exchanges/bitget/), which they seem to be dumping onto their community. Do you know who else had reserves in own tokens? FTX.
My terrible experience has led me to come to some conclusions and lessons:
- Do not use centralized exchanges like Bitget to store your funds. Instead, opt for decentralized exchanges or hardware wallets, where you have complete control over your money. Remember, “not your keys, not your crypto.”
- Do your due diligence, read reviews, and steer clear of exchanges like Bitget that have proven themselves to be unscrupulous. They will steal your funds any minute.
- Protect your hard-earned money by choosing exchanges that are reliable, trustworthy, and secure.
Together, we can continue to promote safe practices in crypto and help new users navigate through the ups and downs of this market.
More information you can check in Evan Luthra’s Twitter:
If they can do this to me, they can do this to anyone.
Bitget is the next FTX in the making.… pic.twitter.com/vTH4gESVX1
— EvanLuthra.eth (@EvanLuthra) March 31, 2023
The material was provided by Evan Luthra