The broker scam Bit-Market (www.bit-market.io) is offline. At least for the moment! Anyone trying to access the website directly by keying in the domain receives the Cloudflare error message 1016. The UK Financial Conduct Authority (FCA) and the British Columbia Securities Commission (BCSC) issued warnings against the scam in March and April 2021, respectively. The operators are said to be the two offshore entities, Strong Momentum LLC and Geronimo Tech Ltd. The latter is also connected with the Cryptvest (www.cryptvest.io) and Cryptec (www.cryptech.io) scams.
All the scams mentioned above are offline. Cryptec was allege owned by Point Place Ltd, registered in the Commonwealth of Dominica. Their payment processor was the Estonian MeanTech OÜ, ScamBroker found. In April 2020, the SEC Philippines issued a warning against Cryptec.
Momentum LLC is registered in St. Vincent & The Grenadines; Geronimo Tech Ltd has been established in the Commonwealth of Dominica. However, these offshore entities are entirely irrelevant for the victims of the scams, as no claims and lawsuits can be enforced in these jurisdictions. The processing of deposits from victims is done in Europe through European companies that either belongs to the scammers through trustees or through other companies that support the scams as illegal payment processors for high fees and provide their bank accounts.
We are pretty sure that Bit-Market will not come online anymore. In the meantime, the operators and boiler rooms are already attacking European consumers with new brands.