Categories: EducationScams

Bitcoin Scam Site Warning – LegendBit

A new Bitcoin Ponzi Scheme has launched not too long ago, which goes by the name of LegendBit. The company offers investors an ROI of up to 15% every day, for the lifetime of the account. As is usually the case with these illegal schemes, there is no explanation as to how the company makes money. Rest assured this platform will run off with your money, and most people will never see any return on their original investment.

LegendBit Will Disappear Very Soon

Even though LegendBit has only been around for a few days, it seems obvious this Bitcoin Ponzi Scheme will not be around for that long. Any company claiming to offer up to 15% return every day for the lifetime of the account will run out of money very quickly. There is no such thing as free profit, especially not in the Bitcoin world.

Investors can choose between three different plans to invest in. Depending on how much money changes hands, users will earn between 10% and 15% per day. It is always baffling to learn how these Ponzi Schemes offer higher ROI rates as more money is invested. Then again, it is very doubtful anyone will see their money back in the first place.

One thing at the bottom of the website displays the lack of professionalism related to LegendBit. The company lists their contact email address as “”. It appears their designer looked over this information and hadn’t changed it. Then again, one shouldn’t expect anything from companies looking to steal your money.

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Company information does not explain how LegendBit aims to make money. They position themselves as an “international company from EUA,” but that is about it. A mention is also made to Bitcoin Rocket Limited, which is another cryptocurrency Ponzi Scheme. This seems to indicate both platforms are run by the same people, and more websites like these will be launched in the future.

The company address listed on the website does not belong to LegendBit either. Melbourne, in the state of Victoria, is located din Australia, and not the United States. Their company registration form links to a form issued by the Companies House of Cardiff. However, it contains a fair few spelling errors which indicate the company is not registered, and this document is a forgery.

Last but not least, the LegendBit domain name was registered in December of 2016. It took the owners some time to set up the Bitcoin Ponzi Scheme, yet that does not mean they will honor withdrawals and payouts. No one should invest in LegendBit, as the chance is very real one will lose their money rather quickly.

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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JP Buntinx

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