While writing one of our last scam reviews, we came across a mention of a website called BitAi Fund found at bitai.fund. It looked suspicious to us so we decided to write a BitAi Fund review to determine whether it is a SCAM.
What is Bitai Fund
The first thing we find upon visiting bitai.fund is the title “Cryptocurrency and DeFi liquidity automated trading.”
Automated trading is not a thing, which immediately raises a red flag.
The reason is that while technical analysis can be performed automatically by a robot, there are always fundamental factors that need to be taken into account, which cannot currently be analyzed without human intelligence.
The next text we see after the title “Daily profit for investors” is: “You just need to invest in our plan with cryptocurrencies. You can get up to 1.6% income per day.”
So here we have another possible investment scams which promises an exceptionally high yield, which immediately brings to mind the age-old saying that if something seems too good to be true, it probably is!
BitAi Fund claims to be an “international financial asset management company that has independently developed a cryptocurrency arbitrage system based on blockchain technology, which can efficiently and stably obtain profits. from frequent cryptocurrency transactions and liquidity mining in the DeFi ecosystem.”
Their main task, they say, is the safety and security of their investors and their data.
They claim to employ an “experienced team of experts,” “a professional team of traders, analysts, and cybersecurity specialists” and promise “long-term stable income” from a “simple operation for everyone.”
Besides their professional experts who perform data analysis, they also use artificial intelligence software to “maximize the profit of liquid mining pools.”
Again and again, they repeat that their clients can be confident of their success and guaranteed profit. “Everyone,” they claim, “can enjoy our cashback rewards, direct and team commissions, and more!”
Among their services, allegedly, is also a fast exchange, which is both simple and speedy, and a liquidity mining pool, which ensures “sufficient profits are generated every day, from different exchanges.”
Liquidity mining, for those who are not familiar with this term, is a process in which holders of cryptocurrency lend assets to exchange in return for rewards.
Their “goal is to create an ecosystem, including Cryptocurrency,Futures,Forex,Gold,Crude, [sic] to ensure the stable operation of the ecosystem and the stable income of our users.”
BitAI Funds Plans
They offer three plans for investors:
- The first plan requires a minimum deposit of $1,000, lasts 30 days, and generates up to 0.6-1% daily profit.
- The second plan requires a minimum deposit of $2,000, lasts 90 days, and generates up to 0.8-1.4% daily profit.
- Finally, the third plan requires a minimum deposit of $5,000, lasts 180 days, and generates 1-1.6% daily profit.
(Though on a different place, they say they also offer a $100 minimum deposit.)
So for example, if someone deposits $5,000, they can expect to earn a minimum of $50 per day, or $9,000 for the 6-month duration of the plan.
Or for a minimum investment of $1,000, the minimum expected earning is $6 per day, or a total of $180 after the 1-month plan is over.
Who is Behind BitAI Fund?
Next, we want to find out who is behind BitAi Fund.
To that end, we check out their About page.
According to BitAi Fund, the company behind the website is Bit AI Future Assets Management CO., LTD.
The company is allegedly registered in London, England (Registration No.14165163), “and it complies with local laws to conduct business globally.”
We can verify that the registration number 14165163 is associated with a company called BIT AI FUTURE ASSETS MANAGEMENT CO., LTD
Their registered office address is Apartment 1804 55 Upper Ground, London, England, SE1 9EY.
It is an active, private limited company, which was incorporated on 10 June 2022. On that date, they also filed a statement of capital (1,000,000 GBP).
Their nature of business includes web portals, activities of financial services holding companies, activities of open-ended investment companies, and financial management.
Two people are listed:
- YUNMA TIANLONG INTERNATIONAL CONSULTING CO., LIMITED – Secretary, with a correspondence address of 291 Brighton Road, South Croydon, England, CR2 6EQ.
- PEI, Chunxue – Director, with a correspondence address of No. 8, Row 6, Block 3, Dulin Village, Daxinzhuang Town, Fengnan District, Tangshan City, Hebei Province, China, 063300.
Ms. Chunxue Pei is listed as an active person with significant control and the same address as the director.
Interestingly, Chunxue has several other companies listed under its name, including:
- bitgoldex.com
- bitcetus.com
- bitnetdex.com
- defieo.co
- bitsmartex.com
Our subscribers will know we already published a review showing that defieo.co is a scam.
According to the About page, the company is “wholly-owned by the parent company BAIF Group Ltd (No.114649).”
BAIF Group Ltd is a corporation registered on May 27, 2022, in the Marshall Islands, according to register-iri.com.
On the About page, no names are mentioned, but they claim to be “an international financial asset management company consisting of financial analysts, IT technical engineers, cryptocurrency experts, and blockchain technology developers.”
They share a short history of their company, according to which everything began in September 2021, when Prof. John Lucas “led a group of students in the university laboratory to study cryptocurrency high-frequency trading arbitrage schemes.” Afterward, it took them 2 months to develop a feasible arbitrage scheme and a semi-automated cryptocurrency arbitrage trading system.
On March 2021 BitAI club was established and “already brought huge profits to the first group of club members who participated in cryptocurrency investment, with an average monthly yield of 26%.” They started creating a blockchain ecosystem composed of DeFi, DEX, liquidity pool, and NFT products.
On January 2022 they “decided to establish a company, open investment for everyone, build a larger liquid mining pool, use our advanced technology and rich experience to create more value in the DeFi ecosystem.”
Unfortunately, no address, telephone number, LinkedIn accounts, or names are provided on the About page.
We could not find any information on LinkedIn regarding the above-mentioned names and company names.
BitAI Review – Scam or Legit?
Overall, the website seems to be rather poorly designed. (For example, the social media links do not lead anywhere.)
There is no verifiable people information on the site, no telephone numbers, addresses, etc.
On the Contact page, they have this email address: support@bitaifund.org.
Phone number is said to be provided “for VIP only.”
They also have a contact form and the following address:
On the other hand, they do seem to be registered.
Let’s see what additional information we can find on their website.
On the FAQ page, it says that more than 30,000 people are currently investing with them. The average return on investment is more than 120%.
Under the question “Are you a legitimate company?” the answer is “[…] The parent company BAIF Group Ltd wholly controls Bill Hunters Investment Management LTD registered in the Republic of the Marshall Islands, and legally reduces taxes.”
Interestingly, billhunters.com is a website that looks very similar to bitai.fund and may be owned by the same people who brought you Bitai Fund. (Though it can also be possible that BitAI fund people stole the text information from billhunters.com. We look at some Bill Hunters reviews below.)
Under the question “How long has the platform been working?” The answer is “Starting from March 2021, we open investment and wealth management services for some investors in the form of ChainHunters club […]”
They also claim that people can only sign up with BitAi Fund if they receive an invitation from a friend.
They also write that “all operations are performed automatically. Except for the withdrawal of funds, this operation is performed manually by specialists of the financial department.”
They accept the following cryptocurrencies:
- Bitcoin
- Ethereum
- Litecoin
- Tron
- USDT
BitAI Fund Affiliate Program
They also have a promotion team or an affiliate program in other words. Once you register on their platform, you will receive a referral link you can share with others. The rewards are added to the platform balance.
They offer three levels of partnership. For your direct referrals, you get 5% of the investment amount, for the second level (people your referrals referred), you get 3%, and for the third level, you get 1%.
You also get a share of the daily profit of your referrals. You get 15% from the daily profit of your direct referrals, 12% from second-level referrals, 10% from the third level, 8% from the fourth level, and 5% from the daily profits of the fifth-level referrals.
BitAI Mobile Apps
They offer apps for mobile. However, the Android app is an APK file, and not listed in the Google PlayStore. The iOS app for iPhone also requires a download.
It should be remembered that downloading files from an unverified source can you cause your devices to become infected with malware and is NOT recommended. Only download such files from sources you trust.
BitAI Fund Reviews
Let’s take a look now at what other people wrote about BitAi Fund online.
The first thing we notice after Googling bitai.fund scam is that they have another domain bitaifund.org, which is a clone of bitai.fund.
On hellopeter.com we find the following warning:
I personally deposited $20,000.00 (USD) due to the positive trading results I achieved. I was lured to this site via a TELEGRAM contact (@winnie89210) and she was very convincing about the trading nodes that was active on this Cryptocurrency trading platform. Each trading node (30S, 60S, 120S, etc.) required a minimum deposit in your account and the profits generated (ALL BOGUS!!!!) tempts you to go to the higher nodes. I reached a balance of $133,885.00 (USD) and when i wanted to withdraw $40,000.00 (USD), I was requested to pay 22% tax into my account before I could withdraw any funds, The amazing thing is I get an email from a BitAIFund <***********> advising me to pay the 22% tax. A reputable Cryptocurrency Trading Company claims to be registered in the UK and parent company registered in Marshall Islands for tax reasons using GMAIL to communicate with their clients.
On Reddit, there are also a couple of threads in which people report being scammed by BitAi Fund.
Searching for billhunters.com scam reports, we find a very poor TrustPilot review page of 2.5/5.
One review says:
I have submitted multiple requests and messaged customer support several times but instead they want me to put in more funds, when I have 63k$ with them already and they still want more for the VIP which i don’t know what is going to happen afterwards, I declined and after a few more words exchange with support and finance department with absolutely no reason for holding on to my acccount […]
BitAI Fund Domain Information
Moving on to domain research.
The domain bitai.fund was registered on May 28, 2022 (about 5 months ago at the time of writing this) for one year via the GoDaddy registrar. The information of the owners of the domain is hidden by a privacy service.
According to SimilarWeb.com, they are ranked 10,151,223 globally and 2,809,420 in the United States, which means they are currently not yet very popular.
According to Semrush, they have an authority score of 0 and have no backlinks from any authoritative or legitimate websites.
As for bitaifund.org, it was also registered on May 28, 2022, for one year via the GoDaddy registrar. The information of the owners is also hidden by a privacy service.
Bitaifund.org is more popular than bitai.fund with a SimilarWeb global rank of 2,991,982 and 658,463 in the US.
Billhunters.com, on the other hand, was registered on April 7, 2022, for two years, also on GoDaddy.
On SimilarWeb billhunters.com is ranked 13,842,018 globally and 669,841 in Italy.
Of the three sites billhunters.com has the most organic traffic and it is also linked to a few press releases on sites such as DigitalJournal.com. The media person contact for the press release by the way is John Lucas.
BitAI Fund Review Conclusion
We believe BitAI Fund, currently located at bitai.fund & bitaifund.org is a SCAM!
Their promises are too good to be true, the site is poorly designed, no contact information is provided, and there are plenty of scam complaints against them.
Our theory is that a Chinese couple is behind this scam. They paid a Chinese company in the UK called YUNMA TIANLONG INTERNATIONAL CONSULTING CO., LIMITED to open a registered company for them
Looks like this company helped not only one person but stands behind a long list of fake companies, as is apparent from this ForexPeaceArmy thread.
They also paid another company to open a Marshall Island company for them.
They did that to appear legitimate so they can convince people to send money to them.
Once you send them any money, don’t expect to get it back unless you use a cryptocurrency recovery service.
If you have been scammed by them, please report it to us and share your story by commenting below this BitAi Fund review.
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