Table of Contents
Is Bityard a Legitimate Broker or a Potential Scam?
Bityard positions itself as a legitimate cryptocurrency derivatives exchange, boasting regulatory licenses in Singapore, the U.S., Australia, and Estonia. However, multiple authorities and user reports have raised serious concerns, including official warnings and widespread complaints about withdrawal issues and deceptive practices.
The Critical Red Flag: Lack of Regulatory Oversight by Key Authorities
Despite claims of oversight by Singapore’s ACRA, U.S. FinCEN, Estonia’s MTR, and Australia’s AUSTRAC, Bityard has appeared on the Financial Commission’s Warning List and received cautionary mentions from the British Columbia Securities Commission. This inconsistency casts doubt on its legitimacy and signals risk to traders.
Unmasking Deceptive Tactics and Operating Methods of Bityard
Bityard uses over-polished imitation dashboards that mimic legitimate trading platforms. Victims have reported classic “pig-butchering” romance scams where users are manipulated into investing through fake relationships. Withdrawal requests are often blocked or delayed, with fake fees and sudden account freezes. Additionally, users describe anonymous support reps and fake testimonials used to gain trust.
Scrutinising Bityard’s Trading Conditions and Company Information
Bityard offers trading with up to 100× leverage and features like copy trading and demo accounts. However, it lacks transparency on spreads, fees, and order execution. Information on ownership, business address, and incorporation date remains hidden. Despite launching in 2019, the broker’s reputation is marred by frequent user disputes and sudden restrictions.
What to Do If You’ve Been Scammed by Bityard
If you believe you’ve been scammed:
- Stop all communication with Bityard and document every interaction.
- Contact your bank or payment provider to report fraudulent activity.
- Secure evidence: save emails, chats, screenshots, and transaction logs.
- File a complaint with cybercrime authorities and financial regulators.
- Request a free case review from cyber intelligence specialists for fund recovery support.
Stick with fully regulated brokers and research thoroughly before investing again.
Read Valuable Scam Information
- These are The 5 Emerging A.I Investment Scams in 2025 You MUST Know
- Panic After an Online Scam? STOP! Here’s Your Lifeline: How to Get Your Money Back & Secure Your Future
- Protecting Yourself from Fake Celebrity Scams in 2025
- Online Romance Scams: Identify Red Flags and Protect Your Finances
- The 5 Biggest Scams of 2025: AI, Crypto, Travel Frauds And More
For more broker investigations and scam advice, check out Reviewed by FraudReviews.net and explore our crypto scam reviews to stay informed and protect your investments.