Fact CheckedLast Updated on August 29, 2024 by Stephan Lindburg
What is the Bitcoin Loophole and who is Steve Mckay? If you have been searching the internet looking for an independent Bitcoin Loophole review and investigation about this latest cryptocurrency trading software and app, then you have reached the right reviews site. Everyone is buzzing about Bitcoin and cryptocurrencies. Without a doubt, many consider it to be the new Gold Rush and it seems like everyone wants to get in on it.
Bitcoin is a real cryptocurrency and you can make serious money trading in it – but only if you use a genuine Bitcoin trading platform or automated trading system (AKA Bot). The problem is that there are scam Bitcoin trading robots, very much like the Bitcoin Loophole app, that do not conform to any type of regulation. The entire operation is managed and orchestrated by unethical affiliate marketers in cahoots with unlicensed offshore brokers, running what is commonly referred to as a revenue share scheme.
This means that the affiliates refer customers (that’s you), the brokers steal the money, and then they split the profits. Our staff has conducted extensive research. We want to make sure you understand the risks associated with Bitcoin and cryptocurrency trading. Bitcoin Loophole is a verified crypto-scam. Before you pull out your credit card and invest, you need to be fully aware that you are standing at the edge of an abyss.
Once your money is stolen, there will be little or no way to remedy your situation as we are dealing with professional scam artists who are gunning for your wallet. Keep reading our detailed Bitcoin Loophole review to see how we exposed the crooks behind it and see what evidence our staff was able to produce.
Official Scam Website, Login Page, and Members Area: bit-loophole(dotcom)/lp.php
Bitcoin Loophole Review: Scam App Exposed!
The Bitcoin Loophole software claims that you’ll be able to make $13,000 in 24 hours, or $500 per day. Is this really possible? No. It’s impossible to make that much money just from a few clicks and zero knowledge of the how to trade cryptocurrencies online. If the Bitcoin Loophole app actually worked, do you think its creators would allow affiliate marketers to make a fake video about their awesome new Bitcoin Loophole trading robot?
They use an image bank actor to play the role of ‘Steve McKay’ who tells you that his software generates millions of dollars auto-trading Bitcoin without actually buying Bitcoin. According to the sales presentation, the Bitcoin Code software was stolen from Mckay’s bosses at a Wall Street investment company.
They’ll try to convince you that now his app trades Bitcoin on auto-pilot. They tell you that you can also use it to make millions. They’ll reel you in with promises of making money for free, claiming that you just need to register first. All of these lies are designed to get you signed up and depositing with an unlicensed offshore broker.
The affiliate marketers are the ones who send you persuasive emails and make convincing fake testimonials about this ‘amazing secret’ for getting rich quick. They pass you along a carefully planned sales presentation which begins by telling you a convincing story about Steve McKay.
Then they follow up by spamming you with lies about the fancy cars, lavish vacations, and expensive properties you could buy with the money you’ll get. They try to bait you using fake testimonials from people who they claim made millions through fraudulent software like the Bitcoin Loophole. You’ll be pestered by these shady marketers sending you 30 or 40 phishing emails and phone calls a day.
Once you register, you’ll be assigned to a rogue offshore broker, the type that sells binary options trading or Forex CFDs. These guys are operating entirely illegally because they aren’t regulated, so you’re never going to learn their real names. They’ll tell you that to make money, you just need to make an initial investment.
But these systems will never make money for you – instead the promoters and brokers will just steal your money for themselves. Every time you ask for your profit, you’ll be told to invest more money and you will never see your money again. If you try to stop investing, you’ll get your broker calling you and threatening to sue you if you don’t send more money.
We can even prove to you that Bitcoin Loophole is illegal. Read the small print at the bottom of its very own homepage and you’ll learn that “Bitcoin Loophole is not supervised or regulated by any financial agencies nor US agencies.” It also tells you that unregulated trading – which is what Bitcoin Loophole is doing – is unlawful for US residents and that Bitcoin Loophole won’t accept customers who are American citizens.
This is because what Bitcoin Loophole is doing is illegal in the US. And of course, these crook are warning because they don’t want to take responsibility for the losses you incur as a result of using the Bitcoin Loophole trading robot.
Bitcoin Loophole is Just a Recycled Version of the Blacklisted Bitcoin Code
The jig is up and the cat is out of the bag! Bitcoin Loophole is currently using the address bit-loophole(dot)com/lp.php, but it’s an exact cloned version of the previously blacklisted Bitcoin Code scam as well as other systems such as the Kiyosaki Formula, Dream Catcher Scam, and Profit Ball (see image below). All of these systems are binary options scams, which leads us to the understanding that we are dealing with ex-binary options affiliates which are moving into the scam crypto scene.
As you can see, the current Bitcoin Loophole signup page on the bottom left has almost the same layout for the signup form as the other three sites. Only the image or video to the left of the form is different each time, as they produce a new fake video or set of images.
Bitcoin Loophole Uses Fake Testimonials to Scam You
To convince you to part with your hard-earned money, the fraudsters use fake images of people who they claim already made millions using Bitcoin Loophole software. The ‘genuine user reviews’ are totally made up by the shady individuals behind the site. They stole the images of real people and invented testimonials.
On its homepage, the Bitcoin Loophole illegally steals logos and certificate of eminent business news websites such as Forbes to legitimize itself. However, if you click on the link to read the article (we highly recommend you don’t do it!) you’ll find there’s no profile of the Bitcoin Loophole scam in any respectable business journal – unless it’s to blacklist it like our Bitcoin Loophole review. All the links on Bitcoin Loophole are designed to redirect you to an affiliate marketing sales page in order to convince you to register.
The Truth: Bitcoin Loophole App Creator ‘Steve McKay’ is a Fake
The creator of Bitcoin Loophole app, Steve McKay, is not a real person. He was invented by some crafty online promoter who thought it was a good idea to have an identity behind this fake crypto app. In general, this assumption is correct but not when you are ripping off pictures from image banks and using it to cheat and deceive innocent hard-working people.
Additional Reasons to Avoid Bitcoin Loophole
When we tell you to avoid Bitcoin Loophole “like the plague”, that’s because it is malicious by design. Complaints we received indicate to us that his system is stuffed with .exe links (executable files), malware, Trojans horses, and other types of viruses that will be downloaded onto your computer or device without your knowledge.
These viruses give the fraudsters behind Bitcoin Loophole control over your computer, or let them see every keystroke you make so that they can steal your online banking details or destroy all the important files you have saved. Don’t click the links in any of Bitcoin Loophole’s spam emails either – those are also infected with viruses waiting to move into your computer and take it over.
Bitcoin Loophole’s Affiliate Marketing Pretends To Be Free – But It’s Not
When you land on the Bitcoin Loophole software homepage, you’ll see the words ‘free’ in big letters. That’s just the affiliate marketing speaking. When you register, you’ll have to pay $250. Then you’ll be asked for another $1,000, and so on. It never ends. You’ll just keep paying and will never get any money back.
Fake Bitcoin Loophole Reviews
We have spotted multiple fake Bitcoin Loophole review, and they are all drafted by seemingly legitimate review websites and portals. But that is merely a facade designed to mislead you. These website are operating as de-facto affiliates in the guise of independent review sites and spewing lies about how much money you can make with Steve Mckay’s fake app.
Bitcoin Loophole Fake News
We have spotted multiple fake news campaigns which are getting viral on Facebook as well as other pop-up ads. These fake celebrity-based endorsements include the use of famous or high profile individuals like Elon Musk, Sir Richard Branson, Gordon Ramsay, Daniel Radcliffe, Peter Lim, and Conor McGregor.
Viable Alternatives
Here we have some tested automated crypto trading software which has undergone a rigorous screening process. Our short list comprises of a few select options which produce results and profits consistently for our members. These are all listed in our recommended section.
Can Bitcoin Loophole Steal My Identity And Financial Details?
Don’t be hoodwinked by online forms that promise ‘easy registration’ and only ask for your email address. These thieves want your full name, your phone number, your date of birth, and your credit card details.
And not just that – you’ll also have to send documents with your name and residential address on. You may even have to share your passport number! Now you have to start thinking about security as you’ll be sending all this sensitive personal identification information across the open web, for any hacker to steal.
Other Viral Scam Trending
You can view it here.
Bitcoin Loophole Review Conclusions And Recommendations
Our detailed Bitcoin Loophole Scam review and investigation attempts to increase your awareness level in regards to the huge amount of risk associated with trusting this type of scam software. Bitcoin Loophole is entirely blacklisted (and that is an understatement). This bona fide get-rich-quick scheme just uses deceptive affiliate marketing tactics to try and convince you to share your details and signup for an unlicensed broker which is just waiting to steal your money.
Our research staff views this latest sham as a crude attempt designed to swindle you by utilizing entirely fake reviews, a concocted cover story, and fictitious characters. It employs the use of spamming, phishing, rude phone calls, and lies to get you to send them money. The lure of easy money is extremely tempting and the con artists behind the Bitcoin Loophole know this and make claims that offer you a free way to get rich quick fast, but in reality, it is a façade and a ruse.
If you don’t want to be the next victim of a binary options, crypto, or Forex CFD scam, make sure to avoid the bitcoin loophole scam and choose alternative and more legitimate ways to earn money online. Don’t forget to check out our YouTube Channel, and Facebook Group.
