A New Case: Bitobyt.com Blocks Millions of USDT Withdrawal
At Lost Coin Rescue, we recently received a case from an investor who reported losing access to over 10,000,000 USDT and 2.8 ETH on a website operating under the name Bitobyt.com.
According to the client, he attempted to withdraw 5,010,000 USDT to his Trust Wallet, but the transaction never completed. The platform later demanded that he “maintain 1 ETH in his wallet and connect it” before releasing the funds, a request that has no basis in any legitimate blockchain procedure. Shortly after he refused, his account access was blocked.
What Our Investigation Revealed
Our team quickly confirmed that Bitobyt.com is a fraudulent trading platform — one of many designed by coordinated scam networks that impersonate real exchanges.
These fake exchanges often:
- Display fabricated trading dashboards that mimic legitimate platforms.
- Allow small withdrawals at first to build trust.
- Demand additional deposits (often called “KYC fees,” “gas fees,” or “liquidity verifications”) once victims attempt large withdrawals.
- Finally lock accounts and disappear with all funds once confidence is broken.
Unfortunately, this pattern matches many of the highest-value crypto frauds we investigate every month.
How the “Fake Exchange” Scam Works
- Setup Phase: Scammers register a domain that looks professional, often ending in “.com,” “.pro,” or “.trade,” and clone exchange interfaces.
- Investment Bait: Victims are lured through social media, Telegram, or fake investment advisors promising fast profits.
- Dashboard Deception: Deposited funds only exist in the platform’s private database — no blockchain record of the supposed “wallets” actually exists.
- Withdrawal Block: The platform suddenly requests “top-up” payments or “activation fees,” creating an illusion of compliance or blockchain necessity.
- Final Lockout: Once victims realize the truth or stop paying, their accounts are blocked or deleted.
What Happens Next in This Case
Lost Coin Rescue has initiated the legal filing process to:
- Blacklist and report Bitobyt.com’s associated wallets, and
- Seek authorization to recover assets once the fraudulent wallets are frozen.
Our Legal & Compliance Team is preparing all supporting documentation and working with blockchain analysis partners to trace transaction paths and establish custody points.
Our Message to the Public
If you ever encounter a trading site that:
- Asks for additional crypto before withdrawal,
- Claims “your account needs activation,” or
- Demands that you link your personal wallet —
it’s a major red flag.
No legitimate exchange will ever require such steps.
Lost Coin Rescue continues to help victims of fake exchanges, investment platforms, and Telegram “brokers” recover their funds with professionalism, technical tracing, and legal escalation.
🛡️ Need Help?
If you’ve lost funds to a fake platform like Bitobyt.com, you can start your recovery process safely through:
👉 Start Your Recovery →
Your information will remain private, and our specialists will review your case free of charge.
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