Sunbitit is a scam crypto platform which claims to offer exchange and derivatives services.
However, neither of these functions are really availably as the platform has been set up to act as a front for scammers looking to steal funds from crypto investors.
At first glance the platform appears to be legitimate, but if you scratch beneath the surface you’ll realise that it’s a scam.
The name itself is a huge giveaway as it’s been chosen in an attempt to fool investors into thinking they’re on the legitimate ‘Sunbit’ website.
Sunbitit even uses the name Sunbit across the website and tab title, but the URL reveals what’s really going on.
Here are a few of the things wrong with Sunbitit:
- A very new domain name registration.
- No information about the company or team.
- User agreement page that’s clearly scraped from somewhere else.
- Poor quality graphics and content.
- None of the expected regulator or licensing information.
- No App store apps, rather a direct download APK file which is highly suspicious.
- As mentioned, the name attempts to imitate a legitimate company.
- The promise of easy profits with no risk.
- People being introduced by Sunbitit by new ‘friends’ online.
If you’ve fallen victim to this scam it’s likely that you’ve been asked to convert cash to crypto before moving it onto the platform or a DApp you’ve connected to through a legitimate crypto service, such as a software wallet.
Unfortunately, it’s very difficult to secure the return of your funds, but you should always report what’s happened to the relevant authorities in your country.
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.