Tech entrepreneur and serial crypto investor Evan Luthra has accused Bitget, a leading cryptocurrency exchange, of being involved in a widespread scam.
In a series of tweets, Luthra raised several concerns about the company, including the anonymity of its founder/CEO, the absence of a legitimate office address, and terms of service that potentially allow Bitget to freeze and take user funds.
I had $200,000+ in Bitget and it got stolen.
The worst part is that they’re not responding to me, instead, they’re spreading lies about me: ()#BitgetExposed pic.twitter.com/C1eKxKYptm
— EvanLuthra.eth (@EvanLuthra) April 4, 2023
Luthra claimed that the supposed face of Bitget, , is a fake identity hired to represent the company in media. He also alleged that Bitget is operated by Chinese scammers using a shell company in Africa. Additionally, Luthra pointed out that Bitget’s
, drawing parallels between the two companies.
He also pointed to a recent Bitget exploit in which over $8 million was lost, suggesting that it was an inside job rather than a genuine hack, as centralized exchanges are not prone to hacking in the same way that decentralized exchanges are.
Luthra asserted that Bitget’s marketing relies heavily on paid promotions and has little organic support, with most of their followers being fake or bots. He compared this marketing strategy to that of FTX prior to its downfall. Luthra also accused Bitget of paying influencers and accounts to defame him for dumping tokens, rather than addressing his concerns directly.
The tech entrepreneur, who claimed to have lost more than $2 million in FTX, invited Bitget to join him in a live discussion but was refused. Luthra said he has spoken with Bitget employees who confirmed the scam, and he is trying to persuade them to speak up publicly and expose the company.
A Forbes 30 under 30 winner, Luthra’s expertise lies in conceptualizing and turning original ideas into innovative and profitable digital businesses. Luthra is an accredited angel investor and has invested in a wide range of products and businesses, from being the first investor on social media platform Snapchat, as well as being a seed investor in crypto project , and Bored Ape Yacht Club NFTs, among others. Luthra is also a member of the Forbes Technology Council.
Bitget recently received to boost its derivatives business. Founded in 2018, Bitget’s derivatives exchange has seen some 80,000 traders and 380,000 copy traders (automated trading positions) on its platform.
Note: At the time of writing, Bitget has not released any statement on the matter. This article will be updated to reflect any official statements regarding the issue as it develops.
Credit: Source link
