Bitcoin Robot is an old auto trading services that is running and being marketed on the web. This website was uploaded few years ago, at 2013. Surprisingly, affiliates and marketers keep stand behind their campaigns, trying to protect their promotions and reputation. It’s probably the lack of regulation that allows these scammers to keep being around.
What exactly is BTC Robot though? Or maybe better to ask: what it pretends to be when offered to the public? It is apparently a Bitcoin trading robot, which buys and sells the world’s most popular virtual currency in several tens of small daily trades, and it allegedly manages to generate earnings from the transactions, by using other people’s mistakes. According to their presentation, the bot meant to sell high and buy low all the time, taking advantage of the small value fluctuations, even as the long-term asset-price trend is a strongly bullish one. No technical details are provided on how the auto-trader achieves its positively “too-good-to-be-true” results, but that’s hardly surprising. Apparently, the “trader” makes some random trades, and eventually losing the btc coins of the gullible victims.
The platform look suspicious from first look, and resemble some scams from the BO niche that were exposed long time ago. They’re just now moving over to the bitcoin scene, taking advantage of the fact that no one monitors such activity there and that the community isn’t quite as wise to such attempts yet. The people in the community have done their part by exposing the fraud behind this crypto software. There are countless complaints out there and that isn’t the least bit surprising either, given the ridiculously transparent scam model we’re dealing with here.
First of all: the main sales pitch made on the btcrobot.com homepage is ridiculously sophomoric and quite the laugh for everyone even a tiny bit versed in trading and crypto currencies. It is nothing but a blatant attempt to ride the hype surrounding bitcoin and the fact that it’s the “currency of the future.” That angle takes up about 99% of the homepage copy, leaving little to no room to actual details regarding HOW the ill-famed robot-trader does its magic.
The reason is – you’ve guessed it – that the only magic performed here concerns the disappearance of your bitcoins at the hands of these “reputable” scammers.
The bits and crumbs of information provided on the actual inner workings of the software are few, far between, and quite ridiculous. The first video goes through extra trouble to prove how profitable the trading robot is. The result is a something we’ve seen attempted countless times by various binary option and Forex scammers.
The MO of this so called software is to present the balance of investors in only U.S dollar. By doing that, they can make people believe they are getting Dollar profits.
They have people going around various forums, looking to counter the complaints of those scammed through pseudo math, often stating that the purpose of the robot is to manage one’s account in USDs.
They are playing around and use the fast that btc losses are somewhat taken into consideration. The trades the robot takes, all seem to come at inappropriate times, and everything about the way it works points to a major fleecing scheme, one that is extremely hard to follow due to the nature of Bitcoin. Does it surprise anyone that the comment section under the above said “proof” video has been disabled on YouTube?
The second video – which is meant to offer an insight into how the robot works – is slightly more ridiculous. Some person claiming to be Egor Kotov, one of the developers behind the auto-trader, delivers a long and vague story about how the software is programmed to take advantage of trader’s mistakes. Regardless who this Kotov guy is made out to be in this video, he most certainly does not exist in real life, as there’s no record of him or his photo, outside the BTC Robot website and of TopDelivery, a Russien ecommerce delivery site, where he’s featured as “Kirill.”
His picture – as those of the rest of the BTC Robot “team” – may indeed have been taken by the scammers themselves, as they aren’t stock photos for the most part. Of course, they may also have simply been lifted off some low-profile, and now-defunct Russian sites. “Creator” number four for example managed a site about football. The only female member of the team, Anna, used to be featured at a cam-date website, as “kimiu383”. Not much of this has any current traces though. Given the age of the scam, much of this telltale proof has fallen victim to natural online decay/attrition.
The site itself used to be hosted on the same server with a number of forex and binary option-based get-rich-quick operations. These days, it has its own dedicated IP though.
All the big promises appear to be misleading. It is actually more surprising than ridiculous that such a shady site and money scheme were managed to keep going for so many years. Our research however, clearly shows that Btc robot is a scam. This is a fraud that mainly targets people in the states and in Asia. Be aware and stay away!
Please let us know in the comments below if you’ve been scammed by BTC Robot and if you have any experience with this crypto trading service.