LibBit: reviews and detailed review of offers in 2021

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Every day it becomes more and more difficult not to fall for the hook of scammers, as they come up with new methods of divorce. Scammers make bright sites, promote their projects on social networks and claim that it is with them that a trader can earn millions. The list of such scammers includes LibBit. This sharashka office lures victims with "sweet" promises, although its only goal is to put a hand in their pockets. Today we will tell you why you should not trade with this fake broker, and show what reviews they write about him on the Internet.

What you need to know about Libbit?

The hero of our review is another clone of T-Rea and GG-Team scammers, which we talked about earlier. Another of their brainchild Fc-Ltd has already sunk under a hail of revealing reviews, and we are sure that LibBit will repeat its fate. This is how the sections with contact information for all three “kitchens” look like:

Scammers do not consider it necessary to spend money on a site that will soon stop working. According to a special service, it does not cost a penny at all! This is due to the fact that the charlatans simply crammed stock images and copied the text from the sites of their other fake offices.

Charlatans were not too lazy and came up with a whole legend about their history and achievements. Despite the fact that they talk about starting work in 2018, the first reviews appeared only a couple of days ago.

The whole story of LibBit is a complete lie. According to the Whois service, the libbit.org domain was registered back in 2016. It was updated recently: on April 8 this year. This date can be considered the beginning of the launch of the scam project.

Our conclusions are confirmed by the information obtained with the help of the web archive. The audit showed that in September 2019 the domain belonged to a Dutch software development company. The crooks claim that in 2019, 50 thousand traders have already registered on their site!

In the contacts section, there is a phone number where you can allegedly contact LibBit employees, an address, and an email address. 

The scammers do not have any office, since the specified address simply does not exist. We are sure that the phone is also fake. There are no links to social networks, which is not surprising: why waste time on a project that will soon be covered by a flurry of negative reviews?

We were not too lazy and checked if the sharaga was registered in Emmerich (Germany). Predictably, but there is no LibBit in the register of German legal entities.

Rogues are too lazy to change the information in the “Client Agreement”, so we see in it the standard phrase that all disputes between LibBit and the trader should be resolved in Vanuatu. It is not clear why this state is here, if, according to legend, the hero of our review is registered in Germany.

We checked to see if LibBit is in Vanuatu's registry. Predictably, but there is no mention of him in the database.

Review of legal documents

Fraudsters claim that their activities are controlled by many organizations:

• Office for Financial Regulation and Supervision;
• Australian Securities and Exchange Commission;
• Mauritius Financial Services Authority;
• Cyprus Securities and Exchange Commission;
• Financial Conduct Authority of South Africa;
• Vanuatu Financial Services Commission (a scanned copy is available on the website).

Among its partners, LibBit names companies with a worldwide reputation and an excellent reputation. We are sure that they would not cooperate with scammers.

We decided to check if the charlatans have at least one permit. It turned out that neither FCA nor ASIC had issued any licenses to sharaga.

The “kitchen” does not appear in the FSC Mauritius and CySec databases either.

A check in the FSCA online registry also did not give any results.

The certificate allegedly issued by the VFSC is a fake. There are no scammers in the database of the regulator, but they did not hesitate to steal a license from another broker and stick their name on it.

We did not find any reviews about LibBit in languages other than Russian. There is a Russian localization on the site, which means that the pseudo-broker is actively breeding our compatriots. According to Law No. 460-FZ, no financial intermediary can operate on the territory of the Russian Federation without a license from the Central Bank. Of course, the Central Bank did not issue any permits to charlatans.

In an attempt to convince traders of their honesty, swindlers are trying to hang noodles on their ears about cooperation with FinaCom, which compensates the investor for lost funds in case of problems.

However, LibBit is not a member of The Financial Commission. This is evidenced by information from the online registry of the organization.

What conditions does LibBit offer?

The trader has access to cryptocurrencies, indices, stocks, currency pairs, raw materials and precious metals. It is possible to choose one of three types of accounts:

Leverage of 1:100-1:500 is a cheap trick that only works for beginners. If a broker offers such a coefficient, then he does not bring trades to the market, and they go only inside the platform.

Spreads, swaps and commissions are not specified. There are no training materials or information about bonuses on the website of the sharashka office. This is not surprising: the breeders know that negative reviews will soon “drown” the project, so they don’t bother with it too much.

What do they write in the reviews?

There is not a single positive review about LibBit on the Web. Traders who have suffered from fraudulent activities warn that it will not be possible to return the money, and there is no smell of real profit on the platform.

How does LibBit scam traders?

Fraudsters find their victims on thematic forums, after which they start annoyingly calling them. As soon as an investor registers on the platform, he will immediately be assigned a personal analyst. Since this is only an imitation of trading, the only task of the manager is to lure more money from the user. Judging by the reviews, there are good psychologists among the scammers, since some LibBit clients, as if under hypnosis, took loans and carried funds to scammers.

The divorce scheme itself is simple: the capital of a naive trader immediately goes into the pocket of scammers. The investor, with the help of a twisted terminal, will be shown the profit that he allegedly received. As soon as he wants to withdraw money, charlatans will come up with violations, block the account and stop responding to messages.

Summing up

LibBit is a typical “kitchen”, which is confirmed by the reviews of deceived ex-clients. For the sake of earning money, scammers will do anything, so we advise you to bypass them by the tenth road!