Exclusive: Bitisis, an "Iranian exchange" opened by Chinese, was filed by the police and the platform urgently froze its assets

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Wu said blockchain learned that the Iranian exchange Bitisis, which was widely reported by Chinese media, has run away. Multiple sources pointed out that the actual controller behind it is a Chinese fraudster who controls multiple overseas exchanges that claim to be able to arbitrage and absorb retail investors' funds and then run away with the money. At present, the police in various places have filed a case. The exchange transferred user assets to three addresses, and one platform has urgently frozen the relevant addresses.

Bitisis is essentially a Ponzi scheme that uses information asymmetry to attract so-called "brick movers" to enter arbitrage, and then flee with the money. Its method is to let users exchange BTC for the platform's spontaneous IRRT, and then exchange it for USDT at a so-called high premium, but naturally there are many thresholds and cumbersome withdrawal procedures in the middle, as well as a pull-down model similar to CX.

There are two main aspects of its clever marketing methods: first, combining geopolitical hot topics with spreading rumors through various media outlets that the exchange has a large premium, thus attracting brick-movers, and deceiving a large number of mainstream media outlets with its "newsworthiness"; second, using Zhihu, Tieba, Douban and other platforms and Baidu SEO to conduct soft-text propaganda, making the information searched out all false information and soft-text.

The website has officially announced that it has “run away”. Police in Wenzhou, Zhejiang, Gejiu, Yunnan and other places have filed cases.

Fortunately, the victim contacted the relevant staff of a mainstream exchange in time, and with their assistance, analyzed the on-chain address and found that an address had indeed been transferred to the exchange, so it was frozen in time.

It can be basically confirmed that the fraud gang is Chinese, because they only promote in Chinese media and communities, and netizens have also revealed that they used Alibaba Cloud servers in the early days.

But honestly speaking, the probability that such a runaway incident can be frozen in time by the exchange is not high, which also shows that the criminals who forged the Iranian exchange have poor technical background. If they use mixers, transfer and realize cash through multiple channels such as small exchanges and over-the-counter, it will make tracking them very difficult.

(It is obvious that both the questioner and the second responder are trolls)

It should be noted that the gang has several other fraudulent websites, such as bit-ven.com, which claims to be from Venezuela. The marketing model and marketing channels of arbitrage are almost identical to those of the above-mentioned Iranian exchange. Investors must be careful . The media should also be careful not to fall into the trap of the scammers.

In the final analysis, first of all, any platform that advertises that retail investors can easily arbitrage can basically be considered a scam and should not be believed; secondly, once a loss occurs, you must immediately contact the police, security companies and relevant personnel of mainstream exchanges. There is a certain probability that their addresses can be frozen in time to avoid losses.