X2 Bitcoin Ponzi collapse serves as reminder

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X2 Bitcoin is a cryptocurrency ponzi site where “investors” were promised 200% returns over a 200 hour period.

The site is another in a long line of ponzi scams currently plaguing the cryptocurrency space. After a mere nine days online, many users are reporting that withdraws being displayed as processed are not showing up on the bitcoin blockchain and customer support is no longer answering messages.

Withdraw Processed but Not Sent

Withdraw Processed but Not Sent

The site came in the wake of the destruction and collapse of cryptocurrency ponzi Crypto Double, which Coin Fire investigative reporters now believe is operated by the same team as X2 Bitcoin based on private registration information provided.

It is likely that the operators of this ponzi scam will make a third strike against the cryptocurrency community if they become further and further emboldened as people continue to put money in the scams hoping to see a return. This second attempt netted an estimated $43,000 USD for the operators.

This news should serve as another reminder for investors of potential schemes or scams to be vigilant and never invest in anything that seems too good to be true.

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Coin Fire

Coin Fire is a cryptocurrency news site started on June 6th of 2014. The site focused on hard-hitting investigative stories. Coin Fire was acquired by 99Bitcoins on October 2015.

2 Comments

  1. Good. Once their “top advertiser” pulled the plug on them they had to collapse. This one was superior to the CryptoDouble in that the length of the scheme was doubled allowing them to stay in business longer.

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