Report status: High Risk Last reviewed: February 2023 Category: Fake trading platform
Evidence Status
Operator identity: not found
Registered legal entity: not found
Trading license: not found
Active domains: three websites using the Bitcoin Storm name found — inconsistent logos and information across them
Algorithm documentation: not disclosed
Minimum deposit: $250 required before platform access
Fee structure: inconsistently documented across domains — unexpected charges reported by users
Customer data disclaimer: suspicious language found regarding personal information sharing
Withdrawal process: not documented — elevated risk
Do not deposit before completing independent verification.
Domai>Domain Analysis
To investigate the product completely and fairly we take a broad sweep, starting with a simple Google search.
The domains .live and .app are a bit strange, as is the use of several websites to sell the same product.
Ensuring that only one domain name of reasonable similarity may be registered and visible is simple enough today and the lack of effort towards this is somewhat suspicious. Through Google search and via review sites we can actually find not one Bitcoin Storm website, but three of them.
The logos are dissimilar enough to stand out, but they do share some similar elements. No reputable company puts forward two or more different logos. A logo is a key element of brand identity. Without brand awareness, the business will not grow well.
Multiple logos is a common feature, used by most of the websites from this well-known scam network:
It goes contrary to any regular business’ interest to do this, but not the scammers, who only stand to gain through the confusion and lack of clarity.
Registration on Bitcoin Storm
Another key feature of trading bot scams is that they will give mountains of information about the history of the Bitcoin market and cryptocurrency, but not the actual product they are supposedly selling.
They’re trying to point out some Bitcoin Storm advantages, but there are just a lot of essentially meaningless, fluff words involved. Moreover, with fraudulent trading robots, there will also be no videos or images showcasing the product and its features for trading Bitcoins.
When it comes to trading tools, the only thing the Bitcoin Storm platform promises are the options to have a live trading session and demo account mode (this auto trading feature helps users to practice trading).
Just two features of Bitcoin Storm are too little for a supposedly serious cryptocurrency trading platform, no matter how useful live trading or demo trading is. Legit auto trading systems always offer many other features as well for making profitable trades, with the live trading feature and the demo trading tool being the bare minimum.
All three websites abound with nice stock images of Bitcoin, but not a thing is to be seen of the actual auto trading product. Remember, this is a crypto trading software, supposedly.
How does Bitcoin Storm work? The websites don’t tell us. It’s supposed to be one of the automated trading platforms, but we don’t know much more than that.
Bitcoin is in many ways a flagship operation for crypto, but in the past few years, quite a few good alternatives have arisen. Focusing this hard on one crypto coin is a strange decision, to say the least.
There are various online payment platforms supported for this trading robot. The account setup process seems to be easy. There is the signup form for a trading account, with a mandatory phone number field as well as the disclaimer about sharing your information with third parties.
Both of these are non-standard and quite suspicious. Sometimes, crypto broker platforms will offer mobile phone verification, but rarely is it mandatory and sharing your personal financial information with third parties is most certainly non-standard.
Quite a few red flags right at the beginning, during the process of creating a new Bitcoin Storm account. So far, we have the use of multiple websites and logos, the use of generic unrelated imagery, and a suspicious disclaimer about our private information. So far so good.
Performance Claims — >Performance Claims — Not Verified
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Here are a few things to unpack. First, what kind of automated system or even general investment on the cryptocurrency market allows for a daily profit of $1300, and for an average user at that, in the very first live trading session? Similar profits offer a number of other scam crypto bots we have been warning about:
What is the average investment then, if you’re going to earn money in that amount? While market ultimately decides the trading income, we can’t understand how is this profit possible if the market is currently going through a bear phase and the prices of all the coins are dropping?
There’s no investment advice or trading strategy that will provide you with such a profit, no matter how brilliant. And we don’t even know how Bitcoin Storm works to provide such an income.
Next, there is a strange claim about this cryptocurrency trading software. Namely, Bitcoin Storm offers to make a million within about just 2 months.
Another awfully specific claim with no additional context. It sounds good at first, but there are questions immediately popping into mind. For example, just who these people are, and what was their investment? During which period did they achieve this amazing result and using which coin?
FInally, we can see that these wonderful, life-changing Bitcoin trading results can be achieved completely free of charge. Namely, the creators of the Bitcoin Storm cryptocurrency trading platform are simply giving away their product.
That may sound noble, but the question remains: Just how are they making money here? How are they getting to even net-zero, let alone a profit on this project?
This is a rather convoluted statement, but the more you think about it the more strange it gets. Why the $250 initial deposit? What do they stand to gain from setting the initial investment bar at this exact point?
Other brokers set the minimum trade necessary to begin trading at a few dollars, but that’s per each trade and the lower limit is very low. Why do the creators of the Bitcoin Storm robot want us to throw the minimum deposit exactly amounting to $250 into their platform?
Perhaps that’s the amount they want to steal from users when they create a Bitcoin Storm account and deposit funds?
Moreover, Bitcoin Storm requires exactly the same $250 minimal deposit as a number of other scam crypto bots we have been warning about:
>Product Documentation — Not Foundo of the websites, we are being thrown thousands of words of text about the history of Bitcoin and crypto. Just take a look at this jumbled mess, typical of fake auto trading platforms.
It goes on and on, with no end in sight and not a word about Bitcoin Storm. The following sections are these: What Are Bitcoins? How do Bitcoins work? Should you invest in Bitcoins? What is trading? How is the future of Bitcoin looking?
We are given only one small paragraph about Bitcoin Storm and it clarifies nothing to the user. It only reinforces the claim that through some amazing new tech trade can be automated and profit ensured.
Just below that, a discouraging disclaimer is hidden in a block of text.
Disclaimers about the risks of trading are normal, but the specificity of this one draws attention. Why would exactly 70% of users lose money? Just how much money would they lose? Is it all or just for that day of trading? If this statistic was gathered and not inferred somehow – over what period of time was this trend true?
Finally, one of the websites contains a plugin that features, supposedly, the latest trade results.
First of all, just why would anyone want their name coming up publicly like this? This isn’t one or a few success stories willingly provided as part of marketing, this is a live tracker, supposedly.
Again, such tricks work with beginners, because any more or less experienced trader understands that the disclosure of his or her personal data once they start trading is unacceptable.
In addition, it is not entirely clear on what basis this rating is built and how often it is updated. This project respects the personal data of its users and only makes generalized trading statistics to show trading volumes or largest transactions (without indicating the trader’s personal data).
And just how is “profit” measured here? Is the app tracking when the user bought a certain amount of crypto and comparing the sale price to that to derive a profit?
In that case, what if the user bought a coin over several trades and is now selling partially. How on earth could anyone derive an accurate measure of profit in this case? We know that the scammers will get at least $250 after draining a trader’s Bitcoin Storm account, but we don’t understand how profitable trades of that magnitude are calculated.
If the case is that the automated trading system Bitcoin Storm is merely showcasing the increase in value of a wallet, this can be even more problematic as analyzing current price shifts would allow someone to derive a more or less accurate estimate of someone’s wallet worth. This would paint a target on some people’s backs. It gets worse.
They even provide pictures of these supposed people. This would be a scammer’s playground, a dream come true. Of course, none of this is real and no sane person would develop this website or platform with this feature in mind.
It’s a huge security risk and would ruin not only people’s lives but the company as well.
By now it’s fairly clear that we are dealing with a very fishy operation here, but let’s take a look at some outside sources to help fill in the picture.
So far we haven’t caught wind of the identities of the development team or the CEO. Yet another strange feature for an up-and-coming trading platform fighting for its place. The openness and transparency of the brand, its history, as well as various types of reporting and project documentation are the main trends of crypto projects in 2022.
Therefore, when evaluating the quality of a project or platform, it is extremely important to pay attention to the “veracity” and reality of the team that creates it. The Bitcoin Storm app in this regard looks like a very flat and fake platform.
Trustpilot Reviews
ScammerWatch c>Trustpilot Reviewsfy individual user reports. The following reflects publicly available reviews at the time of the original investigation.
Looking at a trusted review aggregator such as Trustpilot can be very useful for an average web surfer. The trouble with this is that some people have fallen into a trap for the word to spread.
This is due to the fact that novice investors or just potential victims want to believe what the scammer is offering. However, if you look at the situation sanely and unemotionally, it becomes clear that projects that promise untold wealth like Bitcoin Storm are not a safe place to invest. This is certainly not an outstanding auto trading platform that the con artists are promising.
This didn’t seem to happen here, as the numerous Bitcoin Storm reviews are all positive. At least we found about 2 more websites of the same company!
The .biz website, discovered through Trustpilot, is the first one to make any mention of fees.
2% is a fairly high fee compared to every other broker out there. Usually, the broker will take a fee from both the buyer and the seller, but here it’s unclear to whom the fee will be applied.
Just what is their standard for “profit”? Is it every trade? Even the ones where you lose money? Is it only when you exchange crypto for cash or does it go both ways?
Lack of accurate and understandable fee information or simply inaccurate wording is an important red flag when evaluating auto trading robots. As we can see, the Bitcoin Storm app provides high commissions, which is not very typical for an automated trading software.
Also, the system of payment of commissions and the cases when it is charged is not clear. All this suggests that the Bitcoin Storm scam app can take away your capital at any time.
In any case, the reviews are all suspicious as they come from people with only 1 review with highly flattering words, but a very generic description of what the service is like. Then there’s this.
Probably to maintain an illusion of this being a regular service, which can never have exactly 5* perfect reviews, the scammers have lowered the rating slightly. However, they maintained the generic yet highly praising language fit for a full 5* rating.
There is one life hack for crypto enthusiasts on how to protect themselves from fake reviews from a project like Bitcoin Storm. If you stumble upon some trading bot that promises you mountains of gold, and you want to check its reality and safety, then go to the Reddit forum.
On this resource, you can find a discussion of completely different projects, and if you do not find one, you can start a discussion. Be sure that the largest community of people will find something to answer on any occasion. It may take some time, but it’s worth the wait if it could be scam bots or scam programs.
Finally, taking a look at the contact section, we can see two addresses. Both are in the UK, both are in London, and both are office buildings.
Neither “15 Stratton St, Mayfair W1J 8LQ London” nor “St Magnus House 3 Lower Thames St EC3R 6HA London” show up as locations of this company. We can find no mention of Bitcoin Storm at these addresses.
Domain Registrant
Our last hope of finding out anythi>Domain Registrantr whereabouts of the people running this operation lies with the domain registry.
Unsurprisingly, the people behind this used a service that would hide their identity from prying eyes. And this can be safely written as another red flag.
Providing information of this kind is aimed at making the potential victim believe in the illusion and invest their funds without deep or even superficial verification. After all, why do such things when they offer a $1200 profit per month?
Cloudflare is famous for its privacy policy of not disclosing registrant information to the public. This makes it a favorite of scammers who seek to both escape legal ramifications and maintain a facade while running the operation from who knows where.
Verification Status
Risk level: High. Three domains using the Bitcoin Storm name were>Verification Statuslogos and information. Operator identity and trading license could not be verified. Fee structure is inconsistently documented across domains. User reports of unexpected charges and withdrawal difficulties were found on Trustpilot. Algorithm and product documentation were not publicly disclosed. This assessment is based on documented evidence. It does not constitute a legal determination of fraud. If you have used Bitcoin Storm and experienced withdrawal difficulties or unexpected charges, submit a report at scammerwatch.com/report-a-scam.
FAQ on Bitcoin Storm
FAQ on Bitcoin Stormlass="schema-faq-section">What is Bitcoin Storm?
It’s a scam that bears all the typical hallmarks of a crypto trading bot scam.
Is Bitcoin Storm a Scam?
Yes, it is. You don’t have to be a judge or an expert in crypto trading to connect the dots provided in this review in an incriminating way.
How much money can I make with Bitcoin Storm?
You will lose all the money you sink into this.
Is Bitcoin Storm legit?
It is not. It’s a scam. Do not use it.
For registrars and hosting providers
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Smart contract developer, crypto-investor, and entrepreneur with over 7 years of experience in blockchain development and ICO development from conception to execution.
