Bitwest Group, Dangerous!

In this report, we want to investigate an online platform that presents itself under the name Bitwest Group (sometimes appears simply as Bitwest). The platform promises potential investors convincing returns, but a critical look behind the scenes reveals a series of inconsistencies and suspicious facts so that one red flag after another pops up and potential investors should be alarmed. Have these scam artists taken you in? Have you also been promised wealth through trading and now all your savings have vanished into thin air? Then you are like many other traders! Everyone thought it was a serious venture, and everything was safe and legitimate, but the experiences of investors now speak a different, very clear language: it is a scam! But what or who are we dealing with here, and are there ways out of the predicament investors have found themselves in? 


The facade of respectability
When you first visit the website, the professional design catches your eye. The tempting offers, the direct approach, and the promise of personal assistance from brokers certainly seem attractive, no question. Unfortunately, this pretense of respectability is nothing more than a dazzling theatrical curtain that hides the true nature of the company. The entirety of your financial stake remains in the pockets of the perpetrators, while the investment promises are pure fiction. Sadly, this is the bitter reality.

Hidden Identities and Questionable Claims
One indication of the company's lack of transparency is the lack of a meaningful imprint on the website. The domain was registered to NameSilo, LLC on 03/08/2023, but the real owners are hiding behind an anonymization service. In addition, the site advertises that the company has been in existence since 1994 - a claim that does not coincide with the domain's registration date and is therefore highly dubious.

Dark spots in the communication network
Despite a support email address listed on the website, the absence of an official phone number remains a crucial element of obfuscation. However, several alternative phone numbers - such as +4915510230825, +4915510616485, and +31682467828 - are used as part of the fraudulent activities. Many more numbers have been used, also a method to disguise and complicate the way to the backers as much as possible. Other information that is essential for a trustworthy investment, such as the name of the company's registered office, or monitoring by regulatory authorities (who regulates and monitors the company and intervenes if there are difficulties with the company? Nobody! Investing your money on such a site is highly dangerous!

Badges of illegitimacy
Our extensive searches of international registries have revealed no record of Bitwest Group. Combined with the evidence we have uncovered, this indicates that Bitwest Group is a non-existent company in reality. Furthermore, the UK Financial Conduct Authority (FCA) has already issued a warning regarding this platform on 19/05/2023 (this was later updated on 31/07/2023 as new evidence has emerged). It is certain that other financial supervisory authorities - such as the German BaFin, the Austrian FMA, or the Swiss FINMA - will soon follow suit and also issue warnings in this matter.

Resch Rechtsanwälte advise: Hands off Bitwest Group, it is a fraud!
In conclusion, despite its seemingly professional appearance, the Bitwest Group platform has many red flags regarding its legitimacy and transparency. Several inconsistencies and missing information raise significant doubts about the trustworthiness of the company. We strongly advise caution when dealing with this platform and to consult regulated and established investment options. It is only a matter of time before other regulators besides the UK FCA take notice of Bitwest Group and issue further warnings.

And if you have already fallen for Bitwest Group's fake brokers? What should you do?
In an era of continuous transformation towards the perfection of digitalization, the importance of secure and transparent online transactions is more than ever in the spotlight. In the thicket of this highly complex ecosystem, fraudulent practices also thrive, seriously affecting unsuspecting investors, as in the case of Bitwest Group. Fortunately, there are specialized entities equipped with the tools to clear the fog of deception and bring the truth to light. Our company belongs to this category.

Forensic examination of cryptocurrency transactions
Working with Chainalysis, a leader in blockchain analysis, we use cutting-edge technology to bring transparency to the tangled paths of crypto transactions. This is particularly valuable for victims of fraudulent platforms such as Bitwest Group. Our methodology allows us not only to uncover the intricate chains of transactions but also to sift through the telltale traces that fraudsters often leave behind.

Interdisciplinary strategies: from IT forensics to prosecution
Our expertise is not limited to the technical side. Rather, it is a multi-perspective effort that combines the expertise of certified IT professionals, experienced lawyers, and highly dedicated investigators. In the specialized field of investment fraud, we are equipped with the knowledge and skills necessary to effectively dispense justice and establish fairness.

Your trusted partner when times are tough
If you suspect that you have been defrauded by Bitwest Group, we - a team of nearly forty people - are here to serve as your expert advisors. For initial contact, you can reach us on +49 30 8859770 or via our online contact form. You can be assured of a thorough, no-obligation evaluation of your case. This is, of course, free of charge!