BIPPAX Unmasked: Network of SCAMS!

Welcome to our BIPPAX Review, where we expose a network of scam websites.

If they have scammed you, please share your experience by commenting below this review.

On August 19, 2023, we received the following complaint from a person who was scammed for $9000:

I recently joined an investment group on WhatsApp that focused on day trading. It was led by someone called “Professor Bingham.” We were advised to use the BIPPAX/T-AUZ exchange, and they even provided us with a link to start day trading. We followed their instructions and were subsequently told to transfer funds from our crypto accounts, as they didn’t accept bank transfers.

The program boasted returns ranging from 200% to 600% every week. This “professor” educated us on the technology and techniques he purportedly used to analyze the market. This program is still active, and currently, hundreds of people are at risk of losing their money and life savings. There’s talk of him introducing a new plan for a multi-tier investment group. The tiers are as follows, from top to bottom: 2 million, 1 million, 500k, 250k, 150k, 100k, and 50k, which is the lowest entry level.

At first glance, it seems like an enticing opportunity. Given the profits we’ve witnessed, participants are actively promoting the program. There’s talk of billions being involved, which has led to people taking out loans and liquidating their savings to participate.

At one point, I was up by 123k. However, I encountered difficulties when I attempted to withdraw my funds from BIPPAX. My withdrawal request was put on a 48-hour review hold. Despite several attempts, I was unable to retrieve my money. The group leaders claimed this was normal, advising me not to attempt withdrawals. They argued that a “wealth plan” was starting the following week, and we needed to amass as much capital as possible to achieve the highest investment tier.

Tragically, I’ve lost my life savings. Since I am disabled and rely on disability social security, I have no means to recover these lost funds.

Let’s break down this complaint and see what we are dealing with.

There’s

• Professor Bingham’s investment group on WhatsApp
• T-AUZ exchange
• BIPPAX

We will review each of these separately and then provide suggestions for those who fell victim to this type of scam.

Professor Bingham’s investment group on WhatsApp

We could find no information about Professor Bingham’s investment group on WhatsApp online, so all we know about it currently is based on the complaint we received:

1. High Returns with Little Clarification: The group promises exceptionally high returns, ranging from 200% to 600% weekly. Such high and consistent returns are atypical in investing and often raise red flags. Legitimate investments rarely guarantee such high returns consistently.
2. Mysterious Leader: The individual identified as “Professor Bingham” is central to the group’s operations, offering advice and educating members. However, there’s no mention of his credentials, background, or why he is considered an authority in the field.
3. Emphasis on Crypto Transfers: The group insists on transfers from crypto accounts and does not accept bank transfers. This could be a way to avoid regulatory oversight and make tracking money more difficult.
4. Multi-Tier Investment Scheme: The introduction of a multi-tier investment scheme, which ranges from 2 million to 50k, resembles a pyramid or Ponzi scheme. In such setups, returns for earlier investors are often paid using the capital from newer investors, which is unsustainable and eventually leads to collapse.
5. Difficulty in Withdrawing Funds: The complainer’s experience with trying to withdraw funds and being met with obstacles is alarming. Legitimate investment platforms typically do not prevent investors from accessing their funds without a valid reason.
6. Pressure Tactics: The leaders’ insistence on not withdrawing funds because of an upcoming “wealth plan” seems to be a way to keep capital within the system. Their push to amass as much capital as possible for higher investment tiers can be a tactic to get as much money into the scheme before it potentially collapses.
7. Rapid Spread: The fact that members are actively promoting the program and growing rapidly (with mentions of billions being involved) suggests a snowball effect. This rapid growth might give an illusion of legitimacy, but it’s essential to remember that popularity doesn’t equal authenticity.
8. Risk to Participants: People are taking extreme financial risks like taking out loans and liquidating their savings based on the allure of the scheme’s promises. This places many in significant financial jeopardy.

In summary, Professor Bingham’s investment group on WhatsApp raises numerous red flags commonly associated with investment scams, pyramid schemes, or Ponzi schemes.

T-AUZ

As for T-AUZ, we found an app on the Google Play Store called “T-AUZ Ultra” by Big Mouse. It was downloaded 100+ times, and the support email is CBOTiYEX2022@hotmail.com.

It was updated on July 16, 2023. The description is:

T-AUZ Ultra provides users with professional and convenient applications and is committed to creating a high-quality and convenient service platform. Therefore, we are constantly improving and focusing on user experience to provide a fully functional experience with simple, easy-to-understand pages.

The privacy policy was last updated on July 13, 2023, and contains another email address, barbarafelixv7@gmail.com.

This may be the technology provider or developer behind BIPPAX and not necessarily owned by the same people.

BIPPAX

There’s also an app on the Google Play Store called “BIPPAX” by Spiritual Wealth.

It was downloaded 1000+ times, and the support email is bippax0319@hotmail.com. It was updated on May 20, 2023. The description is:

BIPPAX is a comprehensive application of trading indicators and trading content focusing on cryptocurrency. Combining mature technology and the advantages of traditional financial markets, BIPPAX ensures greater access, transparency, security, and compliance for digital asset transactions. The BIPPAX mobile trading platform allows you to use technical indicators and graphical objects to perform trading operations and analyze currency quotes.

The privacy policy was last updated on March 19, 2023.

Evidence that BIPPAX and T-AUZ are related includes that both list a Hotmail email address and that the privacy policy documents are very similar and generated by the same Privacy Policies Generator.

A website that appears to be related to the BIPPAX app is bippax.com.

Bippax.com Review

Bippax.com was registered through GoDaddy on April 3, 2023, for just one year. It is protected by Cloudflare and a privacy service provided by DomainsByProxy. According to SimilarWeb, it received 1.5K visits in July 2023.

On Google, 3 pages are indexed currently:

1. Exchange (bippax.com)
2. Global digital currency trading platform (bippax.com/login) – The page is no longer online. However, its description says, “Exchange The Best Cryptocurrency. Copyright © 2012-2023 www.bippaxcoins.com All rights reserved. https://twitter.com/BIPPAX.”
3. Tether Financial Planning – Global Bitcoin trading platform (bippax.com/lab/detail) – This page is also no longer online. Based on the description, it seems to be some kind of legal document.

BIPPAX’s Homepage

BIPPAX presents itself as a trusted and secure cryptocurrency exchange, positioning itself as an introduction to the “world of an open financial system.” This platform provides various trading options, such as exchange, options, and perpetual swaps.

BIPPAX offers a wide range of cryptocurrencies, with listed prices for various pairings, such as BTC/USDT, ETH/USDT, and EOS/USDT, among others. The platform emphasizes usability, with a portfolio manager feature that lets users buy, sell, and monitor popular digital currencies. Additionally, there are mobile apps for both Android and iOS, labeled as the Cryptolly app, which positions itself as “the most trusted cryptocurrency platform.”

One potentially concerning repetition in their messaging is the emphasis on offering clarity, repeated multiple times: “We help you make sense of the coins, the terms, the dense charts, and market changes.”

For those new to the platform, BIPPAX provides tutorials covering topics from Bitcoin basics to the blockchain. Their claim to being the “most trusted cryptocurrency platform” is emphasized, and they further underline their transparency and educational mission. Interestingly, there’s a mention of media coverage, with Newsweek quoted as discussing an America-based derivative exchange named Cryptolly in 2020.

However, skepticism arises from the repeated emphasis on trust and clarity, which can sometimes be a tactic to overcompensate for potential underlying issues. Using different platform names, BIPPAX and Cryptolly, without a clear delineation between them, can cause confusion or concern. Additionally, while they promote a secure environment, the specific mechanisms, such as how the vault protection works, aren’t detailed.

Crypotolly

We found a website titled Cryptolly at bit-swap.net. It looks very similar to bippax.com.

Bit-swap.net was registered through GoDaddy on July 10, 2023, for one year and is protected by Domains By Proxy. Amazon.com hosts it.

Cryptolly is presented as a secure and trusted platform for trading cryptocurrency. The platform highlights features such as a portfolio manager for tracking digital currencies, mobile apps for Android and iOS, and a vault protection mechanism with time-delayed withdrawals for added security.

It claims to offer a simple, one-click payment option using a credit or debit card. The website emphasizes its commitment to clarity, confidence, and community within the crypto space. New users are offered the chance to earn up to $80 in crypto rewards.

Red Flags

1. Lack of Regulatory Information: The website does not mention regulatory compliance or licenses, critical information for a financial platform dealing with cryptocurrency.
2. Generic Testimonials: It has a section called “What media says about Cryptolly,” but it does not contain any actual testimonials or reviews from media outlets.
3. Ambiguous Contact Details: There are no clear contact details listed, such as an address, phone number, or customer support email, making it difficult to reach the company in case of issues.
4. Spelling and Grammar: Minor spelling and grammar errors like “Portofolio Manager” instead of “Portfolio Manager” might indicate a lack of professionalism or attention to detail.
5. Unclear Terms and Promises: The website makes broad claims like “most trusted cryptocurrency platform” without supporting evidence or credentials.
6. Promotional Offers: Offering up to $80 in crypto rewards to new users can be considered enticing but might also be a tactic to lure inexperienced investors.
7. Lack of Transparency: The website doesn’t offer much regarding how it manages security or funds or how they differ from other platforms, which is usually critical information for users.

But let’s return to bippax.com.

Contact BIPPAX

Users wanting to contact the platform can fill out a contact form requiring their full name, email, the item they’re consulting about, and their specific message.

Furthermore, the same email address, “customer-feedback@userhelpsdesk.com“, is provided multiple times for routine consultations, general feedback, and presumably for other services such as media cooperation. However, the latter doesn’t have a specific email listed.

For potential users or partners considering engagement, verifying the platform’s authenticity and ensuring the “userhelpsdesk.com” domain is reputable would be crucial.

Userhelpsdesk.com is another GoDaddy domain, registered on June 5, 2023, for one year and protected by Domains By Proxy. It is parked and not hosted currently, but it is still possible that they can receive mail through that address.

Still, repetitively using a generic email domain for diverse queries without specialized addresses for different concerns may raise skepticism in the eyes of cautious users.

Also, why aren’t they bippax.com for their support email?

Legal Documents, About BIPPAX, & Footer

Another red flag can be found in the footer where the copyright line says “©2022 EVAT Exchange All Rights Reserved.”

The platform appears to have branding or association with “EVAT Exchange.”

Searching Google for “EVAT Exchange” returns just one result: An EVAT Exchange scam review on thecryptoadviser.co.uk.

The Crypto Adviser warns that EVAT Exchange is a 100% fake platform that promises high returns quickly but is merely a front for a scam operation. It cites multiple red flags, such as a recently registered domain name, lack of company information or contact details, and no connected social media channels. The platform lures victims via social media and makes unrealistically high promises about profits.

According to a post on Reddit, its domain was evatexchange.com. However, there’s no trace of it.

The legal documents for BIPPAX refer to itself as “Exchange.”

The Effective Date is May 18, 2020, while the Last Updated date is July 19, 2020.

Unsupported cryptocurrencies, tokens, or derivatives become the property of Exchange.

Accounts can be suspended for various reasons, with no liability on Exchange.

According to the About Us page, “Exchange” is a U.S.-based technology charity alliance focused on blockchain technology research and development. They offer blockchain and financial data services, promoting a transparent financial system.

Bippaxcoins.com

Bippaxcoins.com was registered through GoDaddy on April 3, 2023, for just one year. It is protected by Domains By Proxy and hosted by Acquia Hosting. In July 2023, they received 1.3K visits, according to SimilarWeb.

The domain is currently parked, and no information is available about it.

However, we found another domain that is linked to it: byxgcoins.com.

Byxgcoins.com

It was registered through GoDaddy on February 17, 2023, for one year and is protected by DomainsByProxy.

Alibaba hosts it.

According to everybodywiki.com, BYXG Cryptocurrency Group Ltd., also branded as BYXGcoins, is an American cryptocurrency exchange founded by Darryl Joel Dorfman in 2018. The company has offices in the United States, South Korea, and Japan. It provides information and data on cryptocurrency prices, trade volumes, and market capitalizations.

Key Historical Points:

• In 2018, the company announced its expansion to Hong Kong, citing the country’s positive regulatory framework for blockchain businesses and digital asset exchanges.
• In November 2019, BYXGcoins reacted positively to new digital asset exchange rules introduced by the Hong Kong Securities & Futures Commission (SFC). The company also mentioned that it had opened its Indian Telegram group a year before launching operations in India.
• In February 2021, the exchange experienced its highest trading volume, reaching $188 billion, a 26% increase from the previous month.

Twitter.com/BIPPAX

This Twitter account has been owned by “John Bippus” since March 2010 with the handle @BIPPAX.

AZTexchange.com

Another website that appears to be connected to this scam is aztexchange.com.

AZTExchange.com was registered through GoDaddy on August 9, 2023, for one year, and is protected by Domains By Proxy. Alibaba hosts it.

The website is titled BIPPAX, and the copyright notice reads,

Exchange The Best Cryptocurrency Copyright © 2012-2023 www.bippaxcoins.com All rights reserved

The platform claims to offer various services, such as new user gift packages, airdrop rewards, and high returns on financial management—up to 800% weekly. The trading platform purports to have world-class security and risk management systems, including a security reserve fund of 20,000 BTC and a claim of zero accidents in nine years. It also mentions its wide coverage, serving over 200 countries and having over 10,000 users.

Red Flags

1. Exaggerated Promises: The platform advertises weekly rewards “up to 800%” which seems extraordinarily high and may signal potential risk or even a scam.
2. Security Claims: While it claims to have a world-class security system and zero accidents in nine years, there’s no information to back these claims, making them questionable.
3. Lack of Financial Transparency: The page mentions high turnovers and a large security reserve fund but doesn’t provide details or proof to substantiate these numbers.
4. Generic Terms: Phrases like “world-class security,” “risk management system,” and “preferred by users” are generic and do not offer concrete information.
5. Missing Information: BTC/USDT trend data is missing (Highest price: 0, Lowest price: 0, Volume(24H): 0), which could indicate a lack of functionality or oversight.
6. Unclear Offerings: The site mentions a variety of rewards and financial management options but does not provide clear terms or conditions, which can be a sign of risk.
7. Ownership and Regulations: The page doesn’t mention any regulatory adherence or provide information about who owns or operates the platform, which is generally critical for any financial service provider.

Strangely, the email address here is service@bippax.com.

About

The About page describes BIPPAX.PRO as a digital asset trading platform registered in the Cayman Islands, with its core operating team based in Hong Kong. The platform offers robust security features, including a financial-level trading architecture, a high-concurrent memory-matching trading engine, and a full-cold rechargeable wallet system.

It also claims to have 24/7 customer service, promising customers they can complete recharging their assets within 25 minutes. BIPPAX.PRO says it rigorously screens for high-quality blockchain projects to minimize user risk. The platform aims to provide a secure, efficient, and user-friendly exchange experience. It has various contact options and is active on multiple social media platforms.

Red Flags

1. Jurisdiction and Regulation: The platform is registered in the Cayman Islands, a known tax haven, which might pose regulatory risks.
2. Language and Terminology: The text uses somewhat confusing or non-standard terms like “financial wind control system” and “full-cold rechargeable wallet system,” which might be unclear to users and raise questions about the platform’s professionalism.
3. Core Team: The core team is said to come from top Internet and financial companies, but no specific names or credentials are provided for verification.
4. Contact and Support Email Mismatch: The customer service and support emails are under different domains (`BIPPAX.com` and `bitspaie.com`), which could be confusing or a sign of inconsistency.

The following email addresses are provided:

• Customer Service: service@BIPPAX.com
• Support: support@bitspaie.com
• Board Apply: apply@bitspaie.com
• Suggestion: ceo@bitspaie.com
• Cooperation: coop@bitspaie.com

The domain bitspaie.com does not seem to be a real domain and it’s mentioned nowhere else online except for at coinbf.com, another website related to BIPPAX.

Social media links are provided:

• Wechat: Add ‘coinex’ as Wechat friends and then enter Wechat community
• Weibo: https://weibo.com/coinex
• Twitter: https://twitter.com/coinex
• Biyong: https://0.plus/coinex
• Telegram: https://t.me/coinex
• Medium: https://medium.com/@coinex
• Reddit: https://www.reddit.com/u/coinex

Coinbf.com

Coinbf.com was registered through NameSilo on August 11, 2023, for one year. It is protected by Cloudflare and PrivacyGuardian.org.

Elwallets.com

Another domain linked to BIPPAX.com is elwallets.com, designed to look like a mobile trading app, while the homepage is a bippax.com clone.

Elwallets.com was registered through GoDaddy on May 27, 2022, and is protected by Domains By Proxy and Cloudflare.

In July 2023, it received more than 2,000 visits. Its global rank, according to SimilarWeb, is 9,316,620.

It has a 2% SEMrush Authority Score with 14 backlinks from 3 referring domains.

Byxgexchange.com

byxgexchange.com was registered through GoDaddy on February 17, 2023, for one year and is protected by Cloudflare and Domains By Proxy. According to SimilarWeb, it received 468 visits in July 2023.

However, it appears to be offline at the moment.

Aztexcoins.com

On September 10, 2023, we received the following tip from one of our followers:

A group that was using bippax.com to scam people has now moved to https://www.aztexcoins.com

Aztexcoins.com was registered through GoDaddy on August 25, 2023, for one year. Cloudflare and a privacy service provided by Domains By Proxy protect it.

On Google, only the homepage is indexed (in mobile and desktop versions). According to its description, it appears to be a cryptocurrency exchange with various trading pairs like BTC/USDT, ETH/USDT, LTC/USDT, etc., showing slight fluctuations in price.

Aztexcoins.com claims to be a leading platform for trading digital assets, enticing new users with a gift package, and boasting a variety of financial management rewards. It asserts high security with offline storage, multi-factor encryption, and continuous platform monitoring. The platform also claims a long-standing history of “0 accidents in 9 years” and mentions its global reach, stating it has established localized transaction service centers in various countries.

Another page on the website highlights features like a comprehensive financial control system, anti-theft measures, hot and cold wallet storage, and a multi-signature system to ensure fund safety. It also offers 24/7 manual online audit services, aiming to help customers take advantage of the best investment opportunities. Additionally, the platform emphasizes its global reach, claiming to have a global business service network that allows users to invest in international encrypted assets and transact with global users. The site also claims to filter out high-risk blockchain projects rigorously.

According to the Privacy Policy, last updated on July 19, 2020, the platform states that it respects and protects the privacy of its visitors and customers.

Red Flags

However, there are several red flags that raise concerns. First, the platform offers “up to 800%” in weekly rewards, a claim that is often too good to be true and usually a hallmark of scams or risky ventures. The promise of “5672 USDT New User Gift” and “100,000 USDT Airdrop Gifts” can also be seen as an overly aggressive way to attract new, potentially naive users. Additionally, while the website claims to have 0 accidents in 9 years, there is no clear verification for this, such as external audit reports or regulatory endorsements.

Another issue is the absence of company or regulatory information. There’s no clarity on who operates the platform, or under which jurisdiction it falls, making it difficult to verify its credibility or take legal action in case of fraud. Moreover, the site does not mention any form of compliance with financial authorities.

Additionally, the site appears broken. For example, the Beginner’s Guide, Trading Guide, and FAQ are empty, the Announcement section says, “The page you visited does not exist or has been delete.” The copyright line reads “2012-2023 www.exchange.com,” and contact links are broken.

The “24H manual online audit” to protect customers sounds intensive but is also vague and unverified. It doesn’t specify what exactly the audit includes or how it benefits the user. Also, the claim of filtering out “80% extremely high-risk projects” could be misleading. It suggests that the platform makes judgments about the risk level of various blockchain projects, yet it offers no criteria or metrics for how these judgments are made.

The Privacy Policy is generic and lacks specific details. While they claim to “respect and protect the privacy” of their users, there is little to no clarification about what measures are in place actually to ensure this. This is particularly concerning for a financial platform where secure handling of personal and financial information is critical. It’s also worth noting that despite having a section titled “Contact Us,” there are no actual contact details provided. This absence of straightforward means of communication is a glaring omission for any service that involves financial transactions.

Aztexcoins.com Reviews

Two review sites indicate that Aztexcoins.com has a very low trust score. ScamAdviser.com suggests checking the site’s legitimacy, and Scamdoc.com gives it a bad trust score of just 1%.

The review for the website “aztexcoins.com” on Scamadviser indicates a low trust score of 46/100, suggesting caution while dealing with the website. The site has a low rank, according to Tranco, a research-oriented ranking list that aims to provide an objective measure of the popularity of internet domains.

Moreover, the website is very young, having been registered only two weeks ago, which can be a red flag for potential scams.

One comment suggests that the site might be involved in unscrupulous activities.

On ScamDoc, “Aztexcoins.com” received a trust index of 1%. While it uses HTTPS, which is generally considered a good security feature, it also has several red flags, such as a very recent domain creation date and hidden owner identity in the Whois database. These negative points contribute to its low trust rating.

Complaints We Received

On December 25, 2023, we received the following complaint from a person who reported being scammed for half a million, though the currency is not specified:

This is similar to the previously reported case. I invested with Bippax, expecting to receive outsized returns. However, when I attempted to withdraw money, my account was placed under review. They requested that I deposit more money to have the account released.

BIPPAX Review Conclusion

In summary, BIPPAX and its network of associated platforms present a tangled web of contradictions, inconsistencies, and red flags that make it highly suspect from an investment and security standpoint. The platform’s messaging leans heavily on trust, clarity, and community themes, yet its actions tell a different story altogether. Multiple domains are connected to BIPPAX, each with varying levels of online presence and credibility, none of which convincingly lay out a solid, trustworthy operational framework.

Key concerns include the absence of critical regulatory information and multiple, possibly untraceable or fake, email domains for customer service. The associated platforms also display inconsistencies in branding and messaging, including using the name ‘Cryptolly,’ further muddying the waters. While some of these platforms claim to offer rewards and profits that could tempt the uninformed investor, these promises appear exaggerated and are not backed up by concrete evidence. This is a classic red flag in financial scams.

The confusing use of various names and the lack of clear ownership and regulatory oversight don’t instill confidence. Add the dubious link to a known scam platform, EVAT Exchange, and you have a recipe for significant financial risk. Given the absence of verified, trustworthy testimonials and the presence of generic, unspecific language throughout their platforms, the risks of engaging with BIPPAX and its associated domains appear to outweigh any purported benefits.

Even if we assume the best-case scenario—that this is a well-intended but poorly executed venture—the glaring issues regarding transparency, professionalism, and inconsistency remain undeniable and concerning. Until these significant gaps are addressed, potential users would be wise to exercise extreme caution when considering any form of engagement with these platforms. Given the high-risk nature of cryptocurrency investment and the alarming number of scams in the space, the inconsistencies and red flags surrounding BIPPAX are not to be taken lightly.

In a world where digital assets are becoming increasingly a part of mainstream investment strategies, due diligence is not merely an option; it’s a necessity. Based on the current evidence, BIPPAX and its associated platforms fall far short of the credibility and trustworthiness one should expect from a financial service provider in the crypto space.

If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!