BitBlockAsset Scam Warning: Account Blocks and Extra Fees

⚠️ LICENCE AND LEGAL STATUS

BitBlockAsset is not licensed by any financial regulator. The platform is a cryptocurrency and forex scam tool that the Financial Conduct Authority (FCA) has warned about. Operating in various ways, this platform exploits customers, particularly through account blocks and extra fee demands.

In Türkiye, institutions offering forex and crypto trading must be authorised by the Capital Markets Board (SPK). BitBlockAsset is not authorised in Türkiye by the SPK. The list of authorised intermediary institutions is available on the SPK licences page.

🚨 FEATURES THAT CARRY A RISK OF FRAUD

Account Block and Fee Extraction Cycle

The basic fraud model of BitBlockAsset is as follows:

• The customer deposits money and initially sees some small gains.
• When the customer wants to withdraw a larger amount, the account is suddenly put into a "restricted" or "blocked" status.
• Extra fees are demanded to "unlock" the account.
• After the fee is paid, the account is blocked again and new fees are demanded.

Fake Positive Reviews and Artificial Trust

The platform tries to win customers' trust by publishing non-genuine user reviews and "success stories".

No Legitimate Licence

BitBlockAsset is not licensed by any regulatory body. It operates only through a website and an email address.

Vague Address and Contact Details

The platform gives a vague London address. This address may be a commercial mailbox ("box") and not a real place of business.

Imaginary Profit Charts

The "profit charts" and "portfolio" information shown on the platform are entirely manipulated, and no real trading takes place.

Continuous Fee Demands

Extra fees are demanded continuously under various pretexts (tax, system maintenance, security, KYC approval and so on).

🔍 MEASURES FOR PROTECTION AGAINST FRAUD

Licence check: A search for BitBlockAsset in the FCA register (register.fca.org.uk) or the SPK database returns no result. A platform with no result is an unlicensed platform.

Lack of a telephone number: Legitimate financial service providers normally offer telephone contact. Contact by email alone is a sign of fraud.

Address verification: The address "PO Box 40, 2 Lansdowne Row" may be only a mailbox, not a real place of business. Searching the address on Google Maps shows whether there is a real office.

Suspicion of account blocking: When an account is suddenly blocked and an extra fee is demanded, this is almost always fraud.

Recognising fake reviews: Online reviews and ratings are often written by the fraudsters themselves. Negative reviews in independent sources are a sign worth looking for.

Requests to withdraw money at once: Showing "small successes" at the start in order to encourage a larger deposit is a familiar pattern of fraud.

✅ HOW PROTECTION WORKS

• Licence checks are essential: Before any crypto or forex platform is used, its licence is checked in the SPK and FCA databases. Before investing, check whether a platform is authorised by the regulator in your own country (for example the FCA, ASIC or SEC).
• Telephone contact: Legitimate institutions offer live telephone support. The complete absence of a telephone number points to fraud.
• Address verification: Whether the stated address is a real office can be checked on Google Maps.
• Awareness of the account-block ploy: Extra fee demands under pretexts such as "leverage" or "maintenance fees" are fraud.
• Promises of quick money: Unrealistic promises such as "100% a week" are almost always fraud.
• Independent research: Information about a platform can be sought in neutral, independent sources.
• Where someone has become a victim: Where fraud is suspected, the competent authorities can be approached, and Savun Law & Consultancy can be contacted.