Crypto & Blockchain News

Evan Luthra Urges Crypto Investors to Avoid Unscrupulous Bitget Exchanges

Greetings, fellow crypto enthusiasts!

Evan Luthra here. I have loved crypto ever since people considered it a scam. Safe to say, I’m not new to this.

Today, I come to you with a warning about a bad exchange – Bitget.

Bitget is a centralized exchange that has been running a widespread scam, and I’m here to highlight its nefarious practices.

Recently, I had a bad experience with Bitget when the team from “ReelStar” and myself had our $REELT token stolen by an exchange.

The next day, Bitget started dumping the tokens on their behalf, crashing the price and also stealing my money in the process. It is clear that Bitget is a scam, as is the infamous ‘FTX’ exchange, which has also been exposed as a worldwide scam.

Bitget’s operations appear to be led by a Chinese team, which operates through an offshore company in the Seychelles. They don’t seem to have an office address either..

Be careful, almost 50% of their reserves are in their own hands $BGB tokens (Source:, which they apparently dumped on their community. Do you know who else has reserves in their own tokens? FTX.

My horrific experience has led me to some conclusions and lessons:

  • Do not use a centralized exchange like Bitget to store your funds. Instead, opt for a decentralized exchange or hardware wallet, where you have complete control over your money. Remember, “not your keys, not your crypto.”
  • Do your due diligence, read reviews, and avoid exchanges like Bitget which have proven themselves to be unscrupulous. They will steal your funds any time.
  • Protect your hard earned money by choosing a reliable, trusted and safe exchange.

Together, we can continue to promote safe practices in crypto and help new users navigate the ups and downs of this market.

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