This Bitkrak review will analyze the broker’s operations, focusing on red flags and tips for recovering lost funds if scammed.
Bitkrak Broker Overview
- Website: https://bitkrak.com/
- Website Availability: YES
- Headquarters Country: NA
- Owned By: Bitkrak
- Blacklisted by: Not recommended by the review website like Fraud Recovery Experts
- Domain Age:
- Name: BITKRAK.COM
- Registry Domain ID: 1868276244_DOMAIN_COM-VRSN
- Registered On: 2014-07-24T18:59:24Z
- Expires On: 2025-07-24T18:59:24Z
- Updated On: 2024-11-16T12:14:35Z
Bitkrak, which can be reached via https://bitkrak.com/, markets itself as a complete site for buying/selling, as well as trading, various cryptocurrencies. However, on a closer examination, there appear numerous flags that potential users should be aware of:
Absence of a physical address
A major concern with Bitkrak is that it does not put up any verifiable physical address on its website. Most legitimate financial institutions and trading platforms should provide contact details, including a physical location, for their users to build trust and transparency. The lack of such details from the side of Bitkrak raises concern over its legitimacy and accountability.
No regulatory information
The platform has also alarmingly not made known the regulatory body the platform is accountable to or the licensing it has. That compliance is important within the financial sector, for it helps in legally instructing platforms regarding their operations aimed at protecting the investor. The absence of this shows that Bitkrak operates without well-laid and standard financial regulations, which is a common distinguishing feature of fraudulent investment schemes. Such unregistered and unregulated investment firms appear to be scams.
User Experiences and Indications of Scam
Users have quite closely discussed some of the major designs that are believed to run similarly to Bitkrak. In reports, examples given about those WhatsApp groups that offer trading signals but have very high fees on withdrawal are typically scams. As noted by one user, businesses in this category are often fraudulent and thus need caution.
Avoid These Popular Online and Financial Scams
Scammers have various ways to get into the minds of people and take away money from them. Here’s the list of scams:
- WhatsApp Scams: Scammers pretend to be officials, friends, or investment consultants. Their task is to lead the victim to invest in fake schemes or attempt phishing.
- Telegram Scams: Scammers create bogus groups and pose as real businesses to promote fraudulent investments, fake giveaways, and Ponzi schemes.
- Ponzi Scams: Their promise is of high returns and low risk, which is paid by new investors to earlier ones until the scheme collapses.
- NFT Scams: Scammers create bogus NFT projects, artificially inflate the price of NFTs, or simply dupe buyers into purchasing worthless digital collectibles.
- Amazon Scams: Fake Amazon representatives trick users into leaking personal details via fake order confirmation emails, refund scams, or phishing websites.
Is Bitkrak Broker Legitimate?
Using the following aspects, we try to confirm the legitimacy of Bitkrak Broker:
- Regulation Status: Legitimate brokers are regulated by the SEC, FCA, or ASIC. The lack of regulatory information is a big red flag.
- User Reviews and Complaints: Complaints from dozens of investors regarding lost funds and withdrawal issues point to scamming.
- Transparency and Credibility: Lack of company data, hidden fees, and misleading terms are signs of fraud.
How to Get Funds Back from Bitkrak Broker?
If you got scammed by Bitkrak Broker, these steps might help you recover your funds:
- Report to Your Bank or Payment Provider: Refer to transactions made without your permission and file a chargeback request.
- Collect All Evidence: All communications, transaction receipts, and screenshots should be consolidated as proof of the scam.
- Complaint Registration with Financial Authorities: Report the scam to the regulator within your country.
- Consider Seeking Professional Help: Recovery experts can follow the money trail and launch a lawsuit against the fraudulent brokers.
About Fraud Recovery Experts
Fraud Recovery Experts offer assistance to financial fraud victims in recovering their money. Our team of specialists works alongside banks and legal authorities to trace fraudulent transactions and assist them in the process of recovery.
Fraud Recovery Experts can help you out! Contact us for services today!
New fraudulent schemes targeting traders are something we are constantly keeping an eye on across the internet. Having gathered data on scam brokers for over ten years, we hardly can think of any other untrustworthy company in the market. Information about the scammers is provided below from our List of SCAM Brokers.
For updates and discussions, follow us on:
Stay informed and trade wisely!