BBB Warning: Alleged Oregon-based company Bitcoin Bonus takes investors for a ride
The Better Business Bureau Great West + Pacific is warning consumers about Bitcoin Bonus, a company allegedly deceiving customers into fraudulent transactions. A total of 168 complaints have been filed, with consumers reporting receiving emails and text messages regarding an accumulated Bitcoin balance that they need to withdraw, but to do so, they are required to pay transaction fees. After paying the fees and receiving confirmation, Bitcoin Bonus fails to deliver any Bitcoin transfer and stops responding.
In this scenario, multiple consumers do not recall having an account with Bitcoin Bonus but opt to pay a fee to retrieve their purported funds. In doing so, reports outline how the business then goes on to withdraw the same amount multiple times, with the average loss being $70 per person.
This fraudulent activity not only causes financial losses for consumers but also creates instability in the crypto market. While the company indicates they are based in Oregon, the business isn't registered with the state. The website has no additional contact information, and the advertised business address is a home in a residential neighborhood. The victims are located throughout the United States.
Consumers have reported the company also goes by Bitcoin Mining.
The BBB recommends:
- Consumers do their research before investing in any cryptocurrency.
- Find a trustworthy financial professional by checking at FINRA Broker Check and BBB.
- Look for contact information when engaging with a company online and verify it works.
- Consumers should also be aware of emails or text messages that promise a large amount of money without risk. The larger the return, the higher the risk.
- Consumers should never provide personal or financial information to an unknown source.
- Track your investments; to receive Bitcoin funds, consumers must have a bitcoin address from their cryptocurrency exchange or a self-custodial wallet.
If you have been a victim of Bitcoin Bonus, please contact the BBB at 208-342-4649 or visit bbb.org.
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