About
The Washington State Department of Financial Institutions, Securities Division received a complaint regarding a website called Bitsorcoinsa.com. Bitsorcoinsa.com appears to be identical to Bitsorcoinss.com.
The investor used the website Bitsorcoinsa.com to purportedly trade cryptocurrency. The investor has been unable to withdraw funds from their account. The investor has lost approximately $1,000.
Both Bitsorcoinsa.com and Bitsorcoinss.com appear to be no longer active.
Original Alert
The investor was introduced to an individual who said they would make contract trades on Bitsorcoinss.com (“Bitsor”). The investor deposited funds into their Coinbase account and the individual transferred the funds to Bitsor and claimed to contract trade. The individual led the investor to believe they were making significant profits. The investor lost approximately $492,000.
Red Flags
- The Bitsor website appears to be about another entity that they refer to as “Modular Asset Management,” “Modular,” and “Modularity.” Bitsor is only included in the website title and website address.
- The website has numerous typos and grammatical errors.
- An internet search of text within the Bitsor website results in another potentially fraudulent website with nearly identical text and graphics, https://bigonemmm.com, indicating that a template may be used.
How to Report
If you believe you are a victim of this alleged cryptocurrency scam:
- Report to FBI
- If you are outside Washington State: contact your local Securities Regulator
- If you are a Washington State resident: Submit a Complaint for statistical purposes.
Other Resources
- Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers
- Investment Fraud
- What You Can Do to Avoid Investment Fraud | Investor.gov