SEATTLE — After paying the fees and receiving confirmation, the Better Business Bureau Great West + Pacific said Bitcoin Bonus never delivers any Bitcoin transfer and stops responding.
The BBB has now received about 200 complaints from consumers in both Washington state and Oregon. There are also victims outside of the Pacific Northwest, according to the BBB.
The company - Bitcoin Bonus - has a site that said it's based in Oregon, but the BBB said the business isn't registered with the state. Consumers have reported the company also goes by "Bitcoin Mining."
Consumers have reported to the BBB that they received emails and text messages regarding an accumulated Bitcoin balance that they need to withdraw, but to do so, they are required to pay transaction fees. After paying the fees and receiving confirmation, the BBB said Bitcoin Bonus fails to deliver any Bitcoin transfer and stops responding.
The BBB said multiple consumers do not recall having an account with Bitcoin Bonus but opt to pay a fee to retrieve their purported funds. Reports outline how the business then goes on to withdraw the same amount multiple times, with the average loss being $70 per person, according to the BBB.
"If something seems too good to be true, it probably is," said Logan Hickle, PR and communications manager for BBB Great West + Pacific.
The BBB said this alleged fraudulent activity not only causes financial losses for consumers but also creates instability in the crypto market.
BBB recommendation:
- Consumers do their research before investing in any cryptocurrency
- Find a trustworthy financial professional by checking at FINRA Broker Check and BBB
- Look for contact information when engaging with a company online and verify it works
- Consumers should also be aware of emails or text messages that promise a large amount of money without risk. The larger the return, the higher the risk
- Consumers should never provide personal or financial information to an unknown source
- Track your investments; to receive Bitcoin funds, consumers must have a Bitcoin address from their cryptocurrency exchange or a self-custodial wallet
If you have been a victim of Bitcoin Bonus, you can contact the BBB at 208-342-4649 or visit bbb.org.