This post is to bring out some of the facts about a bunch of scammers in India who are running one scam after another to cheat and scam newbies in the name of cryptocurrency, blockchain, investment, high returns, bitcoin, ethereum, mining, etc.
Some background and things done by the people associated with bitcoingrowthfund.com:
Primarily GB Miners and Gain Bitcoin have been involved in scamming a lot of people.
https://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/
https://www.quora.com/Is-gainbitcoin-a-scam
https://www.quora.com/What-is-the-biggest-scam-that-every-Indian-must-be-aware-of/answers/27172652
There’s a video in which Amit Bhardwaj and few others with him are trying to fool some of the people who are interested to invest.
Link: https://speedwealthy.com/fetch/download_video/QGv6Q51L9qw/43
If the video is taken down for some reason by them, we have the backup..
Sahil Baghla wanted to disassociate him and the people involved in Satoshi Studios or Darwin Labs from GB Miners and Gain Bitcoin.
He says they were just the “software vendor”, whereas the below chat shows something else:
The Directors of Satoshi Studios and Darwin Labs as per MCA website are:
They register companies not just in India but with different names in different countries. You know what's the reason behind it is. LOL: D other favorite options for them are Dubai, Singapore, Hong Kong and others.
More facts:
WHOIS information for the domain bitcoingrowthfund.com is fake.
Registrant Contact Information:
Name
Pankaj Sharma
Organization
Crypto AMC Ltd
Address
Laki 25-411
City
Tallinn
State / Province
Harjumaa
Postal Code
13417
Country
EE
Phone
+372.99999999
Email- [email protected]
Above links from the website bitcoingrowthfund.com
Now, if you look at the archive history of this website on wayback machine:
https://web.archive.org/web/20170113021947/http://bitcoingrowthfund.com/
You will notice the below things:
On November 23, 2016
On January 13, 2017
And now, some people are paid/bribed to be listed as their team on the website (evolution of a perfect scam)
We spoke to one of them and he was worried about something I don’t know, may be fear to get busted and get caught, but this is what he said:
It’s clear what kind of team is listed on their website.
We will see below how some mainstream media articles and few bitcoin online blogs, news websites have mentioned them as the founders of bitcoingrowthfund LOL :D
Let’s see some of the examples where victims are trying to contact them, bring out information or get back their money:
https://bitcointalk.org/index.php?topic=1915021.0
https://www.facebook.com/pg/BitcoinGrowthFundBGF/reviews/
Let’s see their MCAP Ethereum token scam shit:
https://bitcoingrowthfund.com/mcap
http://mcaptoken.com/
Don’t get fooled by the numbers they can write anything on their website.
The scam token which is an Ethereum token can be created within hours. It’s not a rocket science and very easy. There are several tutorial available to do it. This MCAP token is added on only 2 exchanges. One is c-cex which I have never used their total volume is even less than most of the coin’s individual volume on major exchanges like Poloniex or Bittrex. This scam token MCAP has majority volume on the exchange which is their own website: https://bitcoingrowthfund.com/trade
LOL :D after seeing this I don’t know why people still trust them and want to trade MCAP or invest somehow in bitcoingrowthfund’s Ponzi schemes or scams.
So the information you see on coinmarketcap website is the result of most of the fake data displayed on their website exchange. Fake orders, Fake volume, Fake price, Fake everything. Its a combination of few fools who are given MCAP tokens doing the trading there + some of their scam teammates doing the trading + fake orders and volume being displayed.
If you try to trade on their exchange by creating an account, first thing is to add some funds i.e. send BTC
So adding BTC on bitcoingrowthfund.com is managed by fake payment page and fake payment processor which looks like this:
This a fake payment page, where no matter what you do it’s just going to timeout or you cancel it. Basically you are just asked to send BTC and once it’s don’t your game over. Few facts to prove it:
What is paybitz?
A scam bitcoin payment processor created by none other than Amit Bhardwaj.
You can check it from https://gbminers.com/assets/brochure.pdf
I guess it was inspired from a legit payment processor paybits (with ‘S’)
There’s nothing on the paybitz.com website, just a ngninx default webserver page and if you open api.paybitz.com its hosting some copied code from elsewhere to make these payment pages and get BTC from newbies.
At some point all these scam websites, their companies and the owners are associated with each other.
Do I need to say more? Still don’t believe it’s a scam? Okay.
And you can even try to open the same timeout page without logging in or doing any transactions from:
https://bitcoingrowthfund.com/investment/complete_payment_bitcoin/?&status=timedOut
So either you will get an error like this:
OR like this:
LOL :D it says we don’t know what just happened. It should actually say you just got scammed!
There are few people who might even see the below screen:
Eventually, they are going to scam most of you and few might get the shit scam MCAP tokens. Those of you who will get the tokens will be excited to invest more and tell your friend too. Thats when you get trapped and become a victim of a ponzi scheme.
Next thing you might also try creating a ticket and ask for support which will never be resolved.
Want to see how the message looks like when you try to raise a ticket :D Again if they solve the issues for few guys its a part of the scamming strategy.
https://bitcoingrowthfund.com/?issue_raised=success No login needed LOL :D
There are few mainstream media articles and few by bitcoin blogs and news websites which have not verified anything but published shit information told by these scammers or maybe they paid for the news (no surprise):
BGF spokesperson Arvind Sehmay has given them this false information. And it says “Dubai-based BGF is selling 10 million tokens of value at $3.2 each”
It says “Arvind Sehmay, director, communications at BitcoinGrowthFund” and ICO was held in Bangkok. Also “Dubai-based BGF which was founded in October last year”
http://www.newsbtc.com/2017/06/04/asia-focused-bitcoin-growth-fund-closes-14-5-million-ico/
It says “Founded by Phil McCauley, Nagraj Konda and Mattias Frost in Dubai, Bitcoin Growth Fund”
“ICO attracted over 6 lakh participants from India alone”
They say “BGF launched the ICO on 27th April, 2017 in Bangkok and within 24 hours had received 1.6 million dollars of investment from retail investors globally.”
Arvind Sehmay, Director – Communications, BitcoinGrowthFund says, “We received an overwhelming response to our ICO and we were able to raise 1.6 million dollars in the first 24 hours itself. BGF is a liquid fund targeting investments in Crypto-currency mining and startup ecosystem. We provide investors (regular/small) opportunity to invest in Crypto currency ecosystem through purchase of our Mcap tokens.
ALTHOUGH SAME COPY PASTE IS PUBLISHED ON ALL THE NEWS WEBSITES WHICH IS CONVEYED BY MR. ARVIND SEHMAY BUT I HAVE HIGHLIGHTED FEW THINGS WHICH ARE INTERESTING! :D
http://insidebitcoins.com/news/asian-bitcoin-growth-fund-reaches-14-5-million-through-ico/55153
It says “Established by Phil McCauley, Nagraj Konda and Mattias Frost in Dubai, Bitcoin Growth Fund will issue MCAP tokens to all the ICO members.”
https://sg.news.yahoo.com/blockchain-based-vc-fund-lets-individual-become-startup-032927236.html
It says “BitcoinGrowthFund (BGF) is a Blockchain-based VC fund. It is like a Kickstarter where customers can own equity in the form of tokens in various investment opportunities,” Phil McCauley, Co-founder of BGF, told e27.”
BGF was launched in Dubai in 2016 by Phil McCauley, Nagaraj Konda, Matthias Frost, Peter French, and Tim Miller — who have a collective experience of over 90 years in the IT and fintech industries. With an office in India, BGF eyes global markets with the fund.
Now look at this: (I know I am pasting it again)
You can read other crap false shit published on different news websites which is not shocking to me as I know how mainstream media works and how paid news is circulated.
And even an Indian bank has mentioned this scam: http://bankofbaroda.co.in/download/FinTalk-04.05.2017.pdf
And look at this:
They are also planning to build the blog for bitcoingrowthfund which is still in progress as it has all default things and no security.
And there are some paid assholes like this guy on Youtube who are paid to promote and do the marketing for their scam.
Interesting thing is he has mentioned Amit Bhardwaj in the video title and its published on June 6, 2017.
There are so many others doing the same shit on different websites.
Everyone from their scam team and associated with them need to be exposed. Also the media which fucking never cares to verify anything and publish anything for money.
The likes you see on their Facebook page is a result of Facebook promotion done by money. The tweets, retweets and other shit shared by random people on internet on various social media platforms is paid shit.
If you still feel like trusting them and want to waste your money, may be you have some extra money.
Please donate to us BTC Address: 1BurpDh94rekUnJDoD8wrTo7D9GV5Gu9bH
or help some poor needy people with that money you assholes. The scammers are able to cheat you because you don’t do the homework!
The scammers are responsible for creating a bad reputation of crypto-currencies in India and the world. They need to be taught a lesson but look at yourself and think did you get scammed because of your greed? Or maybe lack of research and knowledge. So do your research before investing in any shit.
If we have more information about these scammers or any of their new scam projects, we will keep you posted and also if they have the balls and courage to reply or take down some of the pictures, videos or change something on their websites, we have all the backups. Don’t worry!
Its not who I am underneath, But what I do that defines me
Good job collecting all the information. I was one of the early investors on MCAP, but fortunate enough to sell all my MCAP at a double rate a few days after the trading started. Amit Bharadwaj is a big time scammer. He recently launched 3 ebooks, The beginners guide for Crypto, Trading and Mining.
Moreover, he I guess paid Shilpa Shetty and Raj Kundra, both of them reputed people in India. Raj and Shilpa has tweeted thanking Amit for helping them understand crypto through the books. Looks like either he paid them high for the tweet or poor they are also getting scammed.
Fyi.. Amit Bharadwaj is sitting in Dubai since the petition was filed.
Good job in leaving the scam at the right time. Everyone is going to regret later. Only thing I worry is that it spoils the name of crypto and Bitcoin! people start hating crypto and think everything is a scam. We need to spread the truth so that other newbies are not scammed by that asshole. His books and other drama is to attract the newbies and dumb asses. Its a perfect strategy to run the scam or ponzi for a long time to do some legit things, pay some people, do marketing, don't scam everyone but majority of them and keep repeating the things.
Shilpa and her husband have no clue about this bastard or about cyrypto. They are obviously paid to promote. They can do anything for money. I dont expect anything good from them. Moreover the mainstream media is also acting dumb by not doing any research and publishing about this asshole and his business.
All people have the same stratgey, scam and loot people here and run away to some safe country. And dont feel bad but most of us Indians are stupid to again trust such things and never verify or research anything, lastly get scammed.
True, but these scams are also backed by top officials of the country. I wont disclose names but to my knowledge many reputed and high ranked officers of the law and order system are also involved silently.
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The video link is not working and I guess they paid and took it down. So here's the new link:
https://vid.me/e/Y0a2w
Excellent
There are millions of people those who are getting genuine returns through this system for last 2 yrs, so i think this scam is good.
please start this type of scam (https://steemit.com) i am ready to invest.
Stop publishing these fake evidences on these valueless websites: https://steemit.com
"Shame on you Anonymous"
Great job bitonymous for exposing this fraud. The concepts of cryptocurrencies are still new to people and they need to be made aware of such ponzi schemes and scams so that they don't lose their developing trust in cryptocurrencies.
Well, the guy here @bitonymous did some extensive research on this matter, kudos to his efforts, but he seems to have missed a blatant fact. The fact that Darwin labs was just a company that provided technical resources (as a software vendor) to GbMiners. Other than that it had nothing to do with its business operations. As per the screenshot displayed above, I don’t see any harm in using introductory statements like “Hello I am Sahil from Gbminers”. Since Sahil, the owner of Darwin labs was working with Gbminers, he might have used it. Consider this, if he was aware of the fact that Gbminers is, in fact, a scam he would have stayed away from using aforementioned statement. In fact, this shows the trust he placed in them and the breach of trust this company performed. What one needs to acknowledge right now is that this whole scam (or a Ponzi scheme) was some well-planned product of GbMiners, their PR(marketing) team and Amit Bhardwaj.
https://blog.darwinlabs.io/on-gbminers-satoshi-studios-and-darwin-labs-the-road-not-taken-e23108a29684
I checked the website of Darwin Labs... they seem to be involved in quite a number of exciting projects.
Decent point. Nice to see I'm not the only one who thinks like this. Most of the coins might not even know they are a scam. I'm sure they have good ambitions but they simply don't have the team to conquer those ambitions. Do your research properly. An interesting website I found: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Sorted by team, product, company, advisors, previous investors, etc. Check: https://www.coincheckup.com/coins/Steem#analysis To check Steem Detailed report
Lost all my 4.5 btc to gainbitcoin now its 9000$ per btc cant afford to buy now I AM GOING TO KILL MYSELF maybe that will get the authorities attention .