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If they have scammed you, please share your story with us by commenting below this article or contacting us for assistance in recovering funds.
The Complaint: A Victim’s Experience with Bitwaxtrade
On May 6, 2023, a New York City, New York, USA person who was scammed for $5500 filed the following complaint with the BBB (Better Business Bureau):
The scammer approached me on LinkedIn, posing as a Bitcoin trader. They convinced me to invest $5500 in a supposed raffle with a prize pool of 300,000. They promised that I would be the winner. To gain my trust, they even presented a paper showing a profit of $14,500. However, once they received my investment, they never returned any of the funds. Unfortunately, I have lost all of the money I invested.
They mention the following information about the scammer:
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- Location: Roseville, California, USA 95661
- Business name: Bitwaxtrade
A quick Google search reveals that Bitwaxtrade was a website found at Bitwaxtrade.net.
The website is no longer online. However, there are many scam complaints about it.
Let’s go over the most interesting information available about them.
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On SimilarWeb, they are described as:
bitwaxtrade is a world-class investment company dedicated to investor’s satisfaction. learn how to make money with forex,real estate, stock & commodities,binary options, and crypto currency and what it takes to make a living from online trading. start now with bitwaxtrade!
So Bitwaxtrade offered investment avenues in Forex, real estate, stocks, commodities, binary options, and cryptocurrency.
Thirty-three backlinks still point to bitwaxtrade.net, including several from WikiFX.com.
One user left a review on WikiFX, warning against dealing with companies without regulatory licenses.
Bitwaxtrade is listed on the Investment Caution List by the British Columbia Securities Commission (BCSC). The BCSC is a regulatory body overseeing securities trading and advising in British Columbia, Canada.
According to the BCSC, Bitwaxtrade claims to be based in New Zealand with an office in Liverpool, UK, offering cryptocurrency and forex trading accounts. However, the company is not registered to trade in or provide advice on securities or derivatives in British Columbia.
The BCSC warns residents of British Columbia to exercise caution when dealing with firms not registered to trade or advise in the region. This cautionary note suggests that there may be concerns about the legitimacy or regulatory compliance of Bitwaxtrade.
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According to Bitwaxtrade reviews, this broker offered Forex, cryptocurrencies, and CFD trading. The reviews raise concerns about the legitimacy and trustworthiness of Bitwaxtrade.
Key points mentioned in the reviews:
- Bitwaxtrade is listed as having no regulation, which raises concerns about its legitimacy and compliance with industry standards.
- The location of the company is mentioned as 4 apt. Flawing Street, The Grand Avenue, Liverpool, UK 33342, but there is doubt about the validity of this information. Other reviews specify that the company is associated with New Zealand. The company’s contact phone number is +1 (458) 200-4799. (An Oregon, USA number).
- Different account types with varying minimum deposit amounts are mentioned.
- The resources and aids provided on the Bitwaxtrade website are described as limited.
- Email: email@example.com.
According to the Scamadviser report, bitwaxtrade.net has a low trust score, indicating that it may be a scam. The website review is based on various factors, such as the server location, ratings on other sites, malware reports, and the absence of an SSL certificate. Negative aspects include using free email addresses for contact, the website being inactive, and low-rated websites on the same server.
The reviews advise caution when dealing with Bitwaxtrade, mentioning that it is an unregulated and potentially illegal company.
This demonstrates why it is so essential to work with a regulated company. Now that they have run away with their clients’ funds, no governmental organization can provide oversight, investigate the matter, or offer recourse for the affected individuals.
Yisa Lasisi Scams – Who is Behind Bitwaxtrade?
According to old Whois data, this is the registrant’s contact information:
- The organization is Lasisi Expert QS, owned by Yisa Lasisi.
- They are at 35 John Street, Isihor, Benin Edo, Nigeria. (There’s no such address, according to Google Maps.)
- Telephone: +2349050083978 (a valid Nigeria number)
- Email: firstname.lastname@example.org
The same contact information can be found on the following websites:
- zliteexpress-courier.com from June 2022
- shinhan-groups.com from January 2021 (Deceptive Site, according to Google Maps; defunct)
M BOSS Knitting Home
The same person also owns a Facebook page called M BOSS Knitting Home, a clothing brand with 95 likes and followers. They can be contacted at +234 805 296 8383 or email@example.com.
Some posts from August 5, 2020, and January 3, 2019, seek hardworking personnel.
The page also mentions that a gentleman never talks about his tailor.
Their website is mbossknitting.wordpress.com.
The site offers various services related to tailoring and knitting. It includes sections such as Agbada Design, Casual Wears, Ladies Wears, Couple Wears, and Knitting. It was created on January 27, 2019.
Zlite Express Courier (zliteexpress-courier.com) is a Los Angeles, US fulfillment service. They offer various logistics services, including cargo transportation, air freight, ocean freight, packaging, and storage. With a solid global presence, they allegedly provide efficient and convenient package delivery options.
The company prides itself on its reputation for delivering packages quickly and effectively, catering to the needs of e-retailers and online platforms. Zlite Express Courier claims to have satisfied clients and branches worldwide, a dedicated team, and a focus on sustainability.
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Contact information is provided for inquiries and support.
- Telephone: +1 (602) 888‑6019 (an Arizona, USA number)
- Email: firstname.lastname@example.org & email@example.com
Links to social media on the site are broken and lead nowhere.
According to the Scamadviser report, the website zliteexpress-courier.com has a low trust score, suggesting it may be a scam. The website review is based on various data points, including server location, contact details, ratings, and reviews. Negative aspects include using free email addresses for contact and administration; the website being located in a high-risk country, and low-rated websites on the same server. The review advises users to exercise caution and research before engaging with the website.
To summarize, Yisa Lasisi seems involved in several scams, of which zliteexpress-courier.com is still online.
In conclusion, the article sheds light on the fraudulent activities associated with Bitwaxtrade.net, an investment company that offered avenues in Forex, real estate, stocks, commodities, binary options, and cryptocurrency.
The company has been flagged by regulatory bodies, such as the British Columbia Securities Commission, for operating without the necessary licenses.
Reviews and reports indicate concerns about the legitimacy and trustworthiness of Bitwaxtrade, including the absence of regulation, questionable contact information, limited resources on their website, and negative customer experiences.
The Scamadviser report further reinforces the suspicion of scam, highlighting the website’s low trust score, use of free email addresses, inactive status, and association with low-rated websites.
The article also uncovers the involvement of Yisa Lasisi, a Nigerian person and the owner of Bitwaxtrade.net and other dubious websites, in various scams.
If you are a victim, 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!