Welcome to our Hotbitex Review regarding the website currently found at hottbitex.com.
We got acquainted with this website after reading the following BBB (Better Business Bureau) complaint:
The website hottbitex.com offers misleading information about crypto trading, luring people into depositing money to make easy trades. However, once the funds are deposited, they are limited and trading on the website becomes impossible. When users try to withdraw their funds, they are locked and cannot be withdrawn.
So is HotBit Exchange (HotBitEx) a SCAM?
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The domain hottbitex.com was registered one month ago, on February 15, 2023, for one year through the REGISTRAR OF DOMAIN NAMES REG.RU LLC by Sergey Tihonov from Moskovskaya 32, 5kv, Moskva, Moskovskaya, 546344 , Russia.
His phone number is +7.8005555505, a valid Russian number.
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The website is hosted by IT Resheniya LLC.
Why is the domain name spelled Hottbitex while the website is called Hotbitex, you may be wondering?
Hotbitex.com is taken, but they could buy hotbitex.net for $12.99 or hotbitex.co for $27.99…
We find evidence that Hotbitex.com already exists. The domain hotbitex.com was also registered with the REGISTRAR OF DOMAIN NAMES REG.RU LLC on February 8, 2023 for one year by the same Sergey Tihonov.
Strangely however while there’s currently nothing at this address which was registered a month ago, it already has a Semrush Authority score of 2% with 563 backlinks from 88 referring domains.
In comparison, Hottbittex.com has 0% with just 2 referring domains.
Most if not all of the links are spam, but still it’s puzzling why are they linking to a non-existent website?
What is Hot Bitex exactly?
Hotbitex is a cryptocurrency exchange that claims to offer futures trading with competitive commissions, asset security, and stable trading.
Hotbitex has a sufficient pool of liquidity to work with the largest traders, and is among the top 3 most secure crypto exchanges in the world according to cer.live.
Searching for Hotbitex in cer.live results in this message: ‘Cryptoexchange not found by search “Hotbitex.”‘
The website, HOTBITEX, offers cryptocurrency trading, exchange services, crypto lending, and leveraged margin trading.
Users can deposit funds and choose from different plans to allegedly earn up to 30% annual profit.
HOTBITEX also has a referral program, AML policy, and bug bounty program.
The referral program offers 40% from each trading commission paid by users who registered using the referral link.
Users need to create an account, share their referral link, and earn potential income based on the number of referrals and average daily volume.
The site provides a user calculator to determine potential income.
Bug Bounty Program
The website HOTBITEX has a Bug Bounty program to encourage users to report vulnerabilities and receive rewards.
The program has different reward amounts for various types of vulnerabilities, with a maximum reward limit.
HOTBITEXSwap is a decentralized exchange that operates on the Ethereum and Tron blockchains and uses a unique governance token called WSD.
The platform distributes 87% of its assets among users for decision-making and requires 4% of tokens for a quorum on any proposal.
Users can get a governance token by adding liquidity to one of the key pools, getting a WSS (LP) token, investing it in a storage pool at interest, and receiving a WSD governance token.
The exchange is owned by its users and decisions are made through voting.
HOTBITEXSwap claims to solve the problems of insufficient decentralization and lack of good developers of smart contracts.
The exchange has a team of 150+ experienced developers and stores all funds on users’ personal wallets for safety.
Bitcoin Global is a P2P cryptocurrency platform that allows users to buy and sell cryptocurrencies directly to each other with over 50 payment methods. It supports BTC and USDT and provides zero commission trading for the first month after creating an account.
HOTBITEX codes are available for instant transfers, and there are bonuses for inviting friends.
HOTBITEX offers a family of investment instruments called HOTBITEX Earn.
Users can earn passive income by storing their cryptocurrency investments on the exchange, either through the Cryptodeposite product or soon-to-be-launched Staking product.
Cryptodeposite allows users to earn interest on their cryptocurrency deposits, while Staking allows users to participate in network functions and receive rewards in the form of interest or a fixed amount.
HOTBITEX also emphasizes the security of user assets, with 96% of digital assets stored on cold wallets and WAF used to detect and block hacker attacks.
Several email addresses can be found in the Hotbit website:
- Listing Request: firstname.lastname@example.org
- Partnership: email@example.com
- Support: firstname.lastname@example.org
No other contact information, such as telephone numbers or addresses, are provided.
Hott Bitex Review – Bottom Line
Thanks for reading our Hotbit review.
This Hotbitex review warns about the possible scam of the Hotbitex website, which lures people into depositing money for trading but locks their funds and makes it impossible to withdraw them.
We were able to find the email from the Whois records, email@example.com, and the phone number, +7.8005555505, are associated with additional suspicious domains:
All of these are currently defunct and were registered by Sergey.
The only other domain we could associate with HottBitex.com that is still working is apartemenmedan.com, a HotBitex clone titled COBYBITSwap, but here Sergey is not mentioned.
If you have any experience with them, share your experience by leaving a comment below this Hottbitex review.
If you lost money online to online scams, such as the Hottbitex scam, make sure to get a free consultation with one of our recommended scam recovery companies.