Crypto Currency

Scam Alert: Beware of Fraudulent Emails Allegedly from

There has been an increase in fraudulent emails recently, allegedly from the platform, claiming that the platform has changed its name to another company. However, the CEO of the company, Ray Youseff, has confirmed that these emails are fake and have no relation to the company.

The main Key facts:

Users have reported receiving emails falsely claiming that the platform has rebranded and asking them to transfer funds to a new account. Ray Youseff, the CEO of the company, has denounced these emails as fraudulent and warned users to be careful. Some users have reported losing money after transferring funds to the fake accounts, believing the scam emails.

Following the recent shutdown of bitcoin trading platform, scammers have seized the opportunity to exploit users through fraudulent emails. Ray Youseff, CEO of , took to Twitter to warn users about these scams, responding directly to a message from Spanish tax economist José Antonio Bravo, who shared a screenshot of the suspicious email.

Despite no official response from the Twitter account, the last post on the platform confirms the cessation of new user registrations due to the closure of the platform. The company announced the shutdown of its BTC trading platform on April 5, 2024, after legal disputes with co-founder ArturSchabak.


Fraudulent Email Claims Name Change to

The fraudulent email circulated among users claims that the platform has undergone a rebranding. According to the email, the purported name change will not affect existing transactions, accounts, or user experience. However, the company has clarified that they are not affiliated with the new entity and remain an independent company.

What is presented in the fraudulent email is a new identity for a company, described as a Bitcoin peer-to-peer trading platform that focuses on regions such as Latin America, Africa, the Middle East, and Asia. Although CEO Ray Youseff has previously mentioned an alternative trading platform in the past, he has emphasized that the two are entirely separate entities.


Users Report Financial Losses

Several users have reported financial losses after receiving emails that claimed to be from a legitimate source, but were actually scams. These users, including @cartipyper and @zhuchxi1, have shared their experience of losing money after transferring funds through the email, while it’s still unclear if the incidents are directly linked to the fraudulent emails.

Another user, @King62423396, also expressed frustration on Twitter about the situation, after transferring funds and being unable to access their account. It’s important for users to be cautious when receiving unsolicited emails and to verify the authenticity of any requests before sharing personal or financial information.


Users are advised to exercise caution and verify the authenticity of any emails claiming to be from, especially those promoting name changes or directing users to alternative platforms. CEO Ray Youseff Bitpapa has reiterated that they are independent entities, and any emails suggesting otherwise should be treated as fraudulent. If users encounter suspicious activity or financial losses, they should contact directly for assistance.