How to Protect Your Funds from Deposit Scams: A Message from Bitget

At Bitget, the security of our users is our top priority. Recently, we have observed an increase in deposit scams in the industry. This issue has been especially prevalent among users in Russia, where scammers are targeting individuals by creating fake campaigns that lure them into making deposits to fraudulent addresses (in this case, the scam address labeled as 'bitgetserver'). In this article, we aim to explain how these scams work, the tactics scammers use, and the steps you can take to protect your funds from such schemes.

How the Scam Unfolds

It started with a distribution on Telegram claiming to test the TLOS mainnet network and offering a type of airdrop: when a transaction is made, the exchange will increase the transfer amount with a higher-value coin. Users were assured that the transfer was between their own accounts on exchanges. The first small transactions went smoothly, but the bigger one somehow failed to go through. Let's dive into the details.

1. Fake In-App Messages

Scammers begin by creating and sharing fake messages that appear to be from Bitget. Using altered images, these messages are designed to mimic official Bitget communications and are shared with Bitget users via unofficial chat channels (Telegram), inviting them to participate in a fraudulent deposit campaign.

2. Scammers Impersonate Bitget Staff

Once users engage, scammers contact them directly, claiming to be Bitget staff. They offer users a chance to participate in a supposed "deposit campaign" that promises attractive returns.

They also request the user’s deposit address on the Bitget platform, further legitimizing their scheme - Bitget staff will NEVER ask for your deposit address or any personal financial information.

3. Building Trust Through Small Deposits

After convincing users to make a small deposit to a fraudulent address (in this case, labeled as 'bitgetserver'), the scammers deposit a slightly larger amount into the user’s Bitget account as a "reward." This tactic is designed to build trust and encourage users to participate further, believing that bigger rewards will follow larger deposits.

4. The Final Scam

The scam culminates when users are persuaded to make a significantly larger deposit to the same fake address. Once this juicy transaction is completed, users are unable to contact the "staff" and suffer the loss as the funds have already been withdrawn from the fraudster's account.

At this stage, users often realize they have been scammed and reach out to Bitget for help. Our security team takes immediate action, requesting information from the affected users. In many cases, it is confirmed that these scams originated through unofficial communication channels like Telegram, where scammers posed as Bitget representatives and outlined fake earnings schemes.

While Bitget takes every scam accusation seriously and works to blacklist scammer addresses, it can be challenging to recover funds sent to fraudulent addresses outside the Bitget platform.

The Defense Playbook

To help you avoid falling victim to these scams, here is a list of best practices to ensure the safety of your assets:

● Never respond to private messages, do not relax controls, do not proceed if you have any doubts;

● Always confirm deposit addresses and memos directly on the Bitget exchange;

● Seek support through official channels like the Bitget app and Bitget website.

Always Verify Deposit Addresses

Before making any deposits, ensure that you are using the official Bitget deposit page to verify the correct wallet address and memo if necessary. Never send assets to an address that has not been verified through official Bitget channels.

Always double-check URLs and trust only the official Bitget domain: www.bitget.com .

Ensure app downloads originate from our official platform.

You can also check whether the email, website address, or social media account is Bitget’s official channel by visiting our Bitget Official verification page .

Be Wary of Unsolicited Communications

Be cautious of messages from individuals claiming to be Bitget staff, especially if they come through unofficial channels like Telegram. Especially those requesting personal or financial information. Note that Bitget representatives will NEVER ask for such details.

Avoid Sending Funds to Unverified Addresses

If you receive requests to send funds to an unknown address, please be extremely cautious. Sending cryptocurrency to unverified addresses can lead to the permanent loss of your assets. If an offer seems too good to be true, it most likely is a scam!

Report Suspicious Activity

If you suspect that you have been contacted by a scammer or have encountered suspicious activity, report it to Bitget immediately. Quick reporting can help prevent others from falling victim to similar schemes.

As scammers continue to evolve their methods, staying vigilant and informed is crucial. For more information on how to safeguard yourself from fraud, visit our Anti-Fraud Guide.

At Bitget, we are committed to transparency and user security, and we encourage all users to take proactive steps in safeguarding their accounts. Stay safe, and always verify before you trust!