Welcome to our Bereajoy review, in which we investigate the website currently found at www.bereajoy.com.
On April 25, 2023, a Georgia, USA person who claims he was scammed for $516,000 by a cryptocurrency scam at bereajoy.com filed the following complaint with the BBB (Better Business Bureau):
This person contacted me on Instagram, claiming to be an expert trader originally from China but currently living in LA. He helped me set up an account on Crypto.com and Bereajoy, initially showing me how to complete trades. Over time, he asked me to wire more and more funds. At one point, he asked me to complete a trade for 600k and even supposedly sent funds to my wallet on Bereajoy.
After a couple of trades were completed, he said I could withdraw the funds. However, when I attempted to withdraw, I started receiving emails asking me to pay several fees, including taxes, security verification, and service fees. I paid 325k, but then received another email asking for a large withdrawal fee. This prompted me to do some research, and I discovered that others had experienced the same scam.
The scammers’ phone number, which is an Ohio phone number, was reported as (419) 469-1081.
So is Bereajoy a SCAM?
Bereajoy.com Review
Domain registration details
The domain www.bereajoy.com was registered through Gname.com Pte. Ltd. on October 19, 2022, for one year.
It’s never a good sign when a domain is only registered for one year…
It is protected by Cloudflare, and the registrant appears to be in Hong Kong, China.
SimilarWeb and Semrush ranking
It is ranked 6,049,202 globally and 1,767,659 in the USA, according to SimilarWeb, indicating it’s not very popular, but gets some traffic, particularly from the US.
Its Semrush score is 2%, with six backlinks from 4 referring domains but none from any legitimate or trustworthy websites.
Homepage and White Paper analysis
On Google, only two pages on this site are indexed. The homepage’s description is
Specializing in encrypted currency investment and block chain technology building, you are a professional investment and financial advisor. Big Data Support.
Based on the little information provided on the homepage, Bereajoy.com appears to be a website for an exchange specializing in cryptocurrency investment and blockchain technology.
According to a White Paper, the company behind it is Bereajoy Capital Limited. They are focused on building cryptocurrency investment and blockchain technology, using quantitative trading in the foreign exchange market.
Its trading system includes strategy identification, back-testing, delivery system, and risk management. Quantitative trading involves using mathematical models and algorithms to make investment decisions. Back-testing ensures strategy profitability and risk management includes managing technical risks and portfolio theory. Quantitative trading has lower transaction costs, provides an edge in competition, and has potential in the forex brokerage market. The project requires knowledge of statistics, econometrics, and programming languages such as Solidity, MATLAB, Python, or R. The Kelly Criterion is used for optimal capital allocation, but traders must also manage their psychological biases.
Services offered and security measures
The website offers various services such as currency trading, investment and wealth management, and extensive data support.
It emphasizes top-level encryption security to ensure account safety.
Legal documents and Terms of Service
The website includes links to important legal documents such as the Privacy Policy, Security Policy, and Disclaimer.
According to a Terms of Service page, the service is not available for China persons.
The website provides user support and customer service to answer any questions.
Additionally, the website includes information about the company profile, announcements, digital assets, and API documentation.
Customer support and company profile
According to the company profile page, Bereajoy is a financial technology company that aims to promote global economic prosperity through frictionless value exchange.
The company offers a trading platform for buying and selling over 200 types of coins and tokens, including Bitcoin and Ethereum.
Bereajoy focuses on ensuring transparency and stability on its platform and has a leadership team with extensive experience in digital currency, technology, financial technology, and financial services.
The group includes a CEO, COO, Chief Strategic Officer and Head of Global Policy, Chief Technology Officer, Chief Products Officer, and CFO.
The company provides user support, API documents, and a newbie guide and has stipulations, user files, privacy policy, disclaimer, and security policy pages on its website.
Overall, the website claims to be a platform for users to invest in cryptocurrency, focusing on security and efficiency.
It is allegedly the choice of tens of millions of users. However, our tests reveal that the site barely receives any traffic.
The only contact methods we see are a live chat widget that greets you when you enter the site with the following message:
Hello, please select service content:
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Recharge application
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Withdrawal application
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Platform description
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Platform loans
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Account and fund freezing service
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Regularly lock coin activities
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Password change and binding
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Complaints and suggestions
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Other
No telephone numbers, addresses, or LinkedIn profiles are provided.
Bereajoy App and C2C Lending Platform
Bereajoy’s C2C lending platform
There’s only a subdomain at net.bereajoy.com with the following description:
C2C lending is completely decentralized, and the Bereajoy exchange has no right to deduct money to repay your loan. C2C lending is based on your personally …
According to a Loan Agreement page on www.bereajoy.com, Bereajoy’s C2C lending platform allows for peer-to-peer cryptocurrency lending between users.
Users must comply with anti-money laundering principles and follow the platform’s real-name authentication management requirements.
The lender pays fees on the account, and the seller pays payments on the collection account.
The platform is not the actual transaction party, and C2C lending is entirely decentralized.
Bereajoy can take legal action if a user doesn’t repay their C2C loan.
Analysis of APP download page and script behavior
Another page not currently indexed is www.bereajoy.com/APP/, which appears to be a mock App Store or Google Play download page for an app called “Bereajoy3+,” a free app with a 4.9 rating and over 19k scores.
However, clicking on the Download link does not do anything. It has a script that runs on mobile devices only to modify download links for the app “Bereajoy,” depending on the user’s device and browser. It also includes code to display a pop-up window and handle key presses. The script checks the user agent string to determine the user’s device and browser, such as iOS or Android, and WeChat or QQ. It also sets variables for different download links and modifies the behavior of some aspects of the webpage based on the user’s device and browser.
The copyright line reads © 2021 MobiFun Games Inc.
MobiFun Games Inc is an Android developer that has 15 apps on Google Play. They have been active since 2018 and have collected about 2 million installs and 3 thousand ratings, according to AppBrain (on a page that has since been removed), and there’s no evidence there is any connection between MobiFun and Bereajoy.
In summary, Bereajoy is a Chinese exchange website that seems like a scam due to low popularity, a partially dysfunctional webpage, and a lack of verifiable company and contact information.
To be sure that this is a scam, we need to look at any Bereajoy user reviews, which is what we will do in the next section.
Bereajoy Reviews and Social Media Presence
Facebook and Twitter reviews from users
There’s a Facebook post about them from November 1, 2022, that reads:
According to bereajoy, Whale Alert monitoring data, on the morning of October 11, Beijing time, Tether froze three addresses on the Ethereum chain, involving a total of more than 8.25 million USDTs. The frozen addresses hold 3.4 million USDTs, 1.95 million USDTs and about 2.9 million USDTs respectively, and these addresses can no longer transfer funds. A Tether spokesman said that Tether works closely with law enforcement agencies around the world and assists in investigations, including freezing addresses. According to Dune Analytics data, Tether has blacklisted 215 Ethereum-based USDT addresses in 2022. Tether blacklisted 357 Ethereum-based USDT addresses in 2021.
Below this post by a page called Metaverse987, there’s one reply: “Former bitmelcd😂 #FAKECRYPTO #SCAM.”
And when we check out Metaverse987, we find a Facebook page with three followers of a Financial service with the intro: “Bitmelcd is a digital asset exchange operated and proprietary by Canadian Bitmelcd INC.”
And on Reddit, we find the following review of Bitmelcd from September 2022:
“Bitmelcd” is a fraudulent company that has stolen money from numerous people. They have falsely claimed to be affiliated with the BitMex platform, even stealing their website portfolio. However, BitMex has no connection to them. Furthermore, the address listed on their whitepaper in the US is a home address in Kansas with no registration or reference in the US. Once they receive the money, they refuse to transfer it back, claiming that more money needs to be injected to verify the account or for other reasons like an audit or blockchain nod review. They eventually stop responding to emails or customer service chats. Please beware of these scammers. Additionally, after receiving multiple reports, they have created a new website called https://net.xtlcd.com/, and it is advised not to trade there as well.
The domain xtlcd.com is no longer available, but notice the pattern of using the subdomain .net in addition to the leading site, as is done with Bereajoy.
Bereajoy is possibly just one of many fraudulent Chinese websites used to scam people worldwide.
On Twitter, we also find a page called Metaverse789 (@Bitmelcd) promoting bereajoy.com.
Instagram profile and Google Play page
There’s also an Instagram profile called m15927193 that has been promoting this scam.
It links to a Google Play page, which can no longer be accessed, indicating their app was likely removed by Google due to fraud allegations.
Connection to Pigbutchering Scam
The Pigbutchering Scam, also known as the “Sha Zhu Pan” scam, is a fraudulent investment scheme that targets unsuspecting victims worldwide, focusing on the cryptocurrency market.
Scammers use fake cryptocurrency exchanges to lure in victims, promising high returns on investment with insider knowledge of the cryptocurrency market.
However, once the victim deposits their money, it becomes difficult or impossible to withdraw their funds due to various excuses such as fees or technical issues.
The scammers eventually disappear with the victim’s funds, leaving them with significant financial losses.
Based on reviews and social media posts, there seems to be a connection between Bereajoy and the Pigbutchering Scam.
According to reports, the people behind the Pigbutchering Scam are creating fake cryptocurrency exchanges and directing victims to fall for their scheme.
It is possible that the same individuals or groups may be involved in multiple scams.
While there is no clear evidence that Bereajoy is directly involved in the Pigbutchering Scam, the website’s suspicious activities and connections to known scammers suggest that it may be part of a larger network of fraudulent cryptocurrency exchanges.
Conclusion: Bereajoy is a Cryptocurrency Scam
Summary of Findings and Implications for Victims
Based on a BBB complaint filed on April 25, 2023, it appears that Bereajoy is a cryptocurrency scam that has already taken at least $516,000 from a victim.
Further investigation into the website revealed that it is highly suspicious of being a scam due to its low popularity, a partially dysfunctional webpage, and a lack of verifiable company and contact information.
Reviews on social media platforms such as Facebook and Twitter suggest that the people behind this scam are creating fake cryptocurrency exchanges to which they direct victims who fall for their Pigbutchering Scam.
In summary, the people behind this scam are creating fake cryptocurrency exchanges to which they direct victims that fall for their Pigbutchering Scam.
The “sha zhu pan” scam, also known as pig butchering, is an investment scheme focused on cryptocurrency romance that aims to defraud victims worldwide.
If you are a victim of these scammers, please let us know by commenting below, and if you have lost a significant amount of money to online scams, do not lose hope. We can help you recover your funds!
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