BitHarvest has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Twenbit.com. We’ve received over 4 complaints against BitHarvest.
BitHarvest is a cryptocurrency-based multilevel marketing company that doesn’t make it clear who owns or runs it. The website names executives who can’t be verified, which suggests that investors may be being lied to. “Logan Lee” (real name: Steve Ng, a poker player from Singapore) is said to be in charge of the site, which is written in Chinese and has no rules about it, which makes it look like it’s probably a scam run from China or Singapore. BitHarvest’s business plan is very risky because it doesn’t have any real products or licenses. People should be very careful and look into it carefully before investing.
Get Your Money Back From These Scammers!
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Key Takeaways
Is BitHarvest Regulated? Do They Have a License?
BitHarvest is a cryptocurrency-based Multi-Level Marketing (MLM) company whose website doesn’t have any real details about who owns the company or who runs it. The company lists an executive team with people who haven’t been identified, which makes it look like the names were made up to trick possible investors.
According to BitHarvest, the company is run by “Logan Lee,” who is actually Singaporean citizen Steve Ng. Ng’s history as a poker player, including his participation in the Asian Poker Tour Taipei 2024, makes it even less likely that he is really CEO of BitHarvest. BitHarvest’s website is written in Chinese, which makes it seem like the business might be run by crooks in China and/or Singapore.
Marcos Caleb and Jan Gregory are two other well-known people who work with BitHarvest. Marcos Caleb is known for pushing MLM crypto Ponzi schemes on his YouTube channel. Trade Like Crazy, Titan369, and EchoOne are just a few of the schemes that have failed. Jan Gregory is a Canadian who goes by the names Jan Strzepka and Jan Gregory Cerato.
He is famous for being involved in a number of Ponzi scams. An Alberta Securities Commission fine of $165,000 was given to him in September 2022 for securities fraud. He then went to Dubai. Gregory worked with Russian Ponzi schemers in Dubai and led a number of MLM crypto Ponzi schemes in 2023, such as CoinMarketBull and Maxspread Technologies. His actions have caught the attention of authorities in both California and Russia.
The lack of regulation or the presence of poor regulation is a huge red flag. It means BitHarvest is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of BitHarvest, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Concerning Issues Present at BitHarvest
BitHarvest only offers affiliate memberships and no other goods or services that can be bought. Affiliates can buy either a partial or a full position, which costs 90 and 900 USDT, respectively, and is paid for with BitHarvest’s own BEP-20 token, BTH. The promised returns are daily inactive incomes in bitcoin that change based on how many new affiliates are signed up.
BitHarvest has a multi-level affiliate rank system that rewards people who bring in new members and spend money. The levels of rank go from “Investor” to “6 Stars,” and each level needs more funding and hiring. Coded referral commissions and ROI matches are also paid by the company, which encourages higher-ranked affiliates to hire hard.
The BitHarvest company sells a USB device called Bitbooster and says it makes bitcoin mining more efficient. This claim doesn’t have any proof that can be checked, and if the technology in question were real, it would probably be used secretly instead of being shared.
Since BitHarvest’s activities are like selling securities, they need to file audited financial records with the right authorities. But the company only offers a FINCEN MSB registration, which is not enough to meet financial legal requirements.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
BitHarvest Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
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BitHarvest Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like BitHarvest tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust BitHarvest reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of BitHarvest, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like BitHarvest enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “BitHarvest reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising BitHarvest.
You should always look out for consumer complaints. In the case of BitHarvest, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about BitHarvest? You can share your complaint in the comment section or submit an anonymous tip.
Is BitHarvest Legit Or a Scam?
As of April 2023, most of the people who visited BitHarvest’s website were from Taiwan. People from Norway, Kenya, and Hungary also sent some visitors. There is no proof that BitHarvest has filed its securities offerings in these places, which makes it even less likely that it is real.
Like most MLM Ponzi schemes, BitHarvest’s ability to stay in business depends on constantly adding new affiliates. If recruitment goes down, it’s possible that ROI withdrawals won’t be able to be made, which will cause the scheme to fall apart. A situation like this usually ends with big losses for most of the people involved.
Investors should be very careful with BitHarvest because it is not clear what it is doing, makes claims that aren’t true, and comes with big legal risks. You could lose a lot of money with any MLM scheme that doesn’t offer a clear and real product or service.
BitHarvest is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind BitHarvest can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust BitHarvest?
All the evidence suggests that BitHarvest is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is BitHarvest a scam?
Can I withdraw money from BitHarvest?
Where is BitHarvest Located?
How do I get my money back from BitHarvest?
How The BitHarvest Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
