Do not invest with this entity
This entity appears in one or more regulatory or sanctions lists (SEC PAUSE, DFPI, OpenSanctions). Report to the FBI IC3 at ic3.gov and the FTC at reportfraud.ftc.gov.
BitFunds
Investment / sanctions alert · dfpi
DFPI — Victim narrative (California)
A Californian victim downloaded the BitFunds app on his phone via the Google Play Store. BitFunds purportedly allowed users to invest in what it advertised as “cloud mining”. Investors were promised a share of miners' profits or mined bitcoin. BitFunds also claimed that the more money you invested, the faster you would accumulate a portion of the mined bitcoin. The victim, having paid $200, never received the promised services and did not get any of his money back. Subsequently, the app's name was changed, and it failed to respond to the victim's inquiries. “Bitfunds” appears to have been runn
Estimated loss: $200
Type: Liquidity Mining Scam | Asset Recovery Scam
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What to do if you were targeted
- 1.Stop all transfers immediately.
- 2.Contact your bank or wire transfer service to attempt a recall.
- 3.File a complaint with the FBI IC3 at ic3.gov.
- 4.Report to the FTC at reportfraud.ftc.gov.
- 5.Report to your state securities regulator via nasaa.org.