Londonbit is a scam crypto investing platform that’s set up to resemble a UK-based trading service when in fact it’s a fraudulent site.
The platform claims to offer crypto investing opportunities but gives no information about how it does this or how returns are generated.
In fact, if you look a little deeper into the site you’ll find there’s zero functionality apart from a ‘plugin’ trading app, and the whole setup is designed to scam people out of their money.
The person who got in touch with PawProfitForum Team about Londonbit had been convinced to invest by someone they’d met on social media.
The person had messaged them ‘by mistake’ on WhatsApp before quickly striking up a friendship. A few weeks later they turned the conversation to crypto investing which is when the victim became embroiled in the scam.
To start with it appeared as if they were making money on the platform, but after investing a significant sum they found their account blocked and inaccessible.
The scammers then started demanded large sums to release the funds, but any money that was subsequently sent was also stolen.
How to spot the Londonbit crypto scam
There are many things wrong with this platform which give away the fact it’s a scam.
They include:
- No real functionality – no crypto trading or investing takes places through the platform because it’s effectively a shell website.
- Fake app store buttons they simply reload the home screen. Scam platforms often use these buttons to appear legitimate but they don’t have mobile apps.
- There is no proper company information, regulatory statements or charging information available on the platform.
- The ‘about us’ section is clearly fake and uses images of people who aren’t connected to the company and may even be AI generated. Even the full names aren’t given.
- There are numerous grammatical errors and spelling mistakes in the content.
- People being approached at random via social media and urged to invest – no legitimate financial institution would do this.
- Londonbit is a domain name that was registered recently.
- No social media profiles or online reviews.
If you’ve fallen victim to this scam you may be wondering if it’s possible to get your money back.
Unfortunately, this is very difficult but there are a few steps you can take – see the resources link at the bottom of this post.
There are also private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.