Fact CheckedLast Updated on September 11, 2022 by Alex
Bitcoin Loophole Review. What is the Bitcoin Loophole SCAM and who is Steve Mckay? Bitcoin Loophole is supposed to be a cryptocurrency trading robot which allows you to make over $13,000 in 24 hours. But in reality what viewers are being exposed to here is a full blown scam which has been around for quite some time now. The Bitcoin Loophole software was originally created by binary options affiliate networks who wanted to wet their beak by promoting get-rich-quick crypto scams. Since then digital options have been mostly banned due to the massive fraud activity associated with this form of financial betting. But Bitcoin Loophole managed to stick around and has undoubtedly become one of the most viral and persistent schemes which are being promoted constantly by various online promoters and media agencies. Some of these agencies are the offshoots of previous binary options networks which have evaporated, and some are newer networks which were created by ex-binary options employees who saw how much money they could make scamming people. These affiliate networks don’t really care much for corporate social responsibility or transparency, and their corporate culture is basically non-existent. They are out to target as many victims as possible directly, or indirectly through sub-affiliates which operate under their auspices and support.
Bitcoin Loophole Complaints: Complaints are usually a variant of false advertising which leads to a registration process with rogue offshore Forex and CFD brokers. But this is where the plot thickens! Some licensed brokers such as FXVC or Phoenix Markets have realized the profit potential of fleecing uneducated opportunity-seekers, and have made a calculated decision to allow would-be traders to join their platforms through such vile schemes whilst defying the explicit instructions of their regulator (in most cases CySec). The brokers are deliberately allowing this to happen for a simple reason! From a business perspective they prefer getting fined over closing their doors to scam websites that deliver paying customers. In other words, they make loads of money scamming people who signup through bogus auto-trading and signals apps that it’s simply worth their while to pay the fines and keep operating in this crooked manner. As always, the big losers are the customers who end up paying the corporate salaries. Still believe Bitcoin Loophole is a genuine trading system? In that case we recommend you take a minute and read our detailed Bitcoin Loophole review, because we exposed this fake app and the scammers behind it!
Official Bitcoin Loophole Website, Login Page, and Members Area: This Website Has Been Cloned Many Times
Scam Evidence
OK so here we have a screenshot of the primary sales page, where you can see the Bitcoin Loophole scam registration form . If you look closer you will notice that they are suggesting there is a way to “make over $13,000 in 24 hours”.
Moving forward, here you can see what the scammers did with the Forbes edition of “Tech’s Top Investors”. They substituted Ashton Kutcher’s image with their fake Steve McKay. So just in case you were wondering, McKay was never featured on Forbes or Business Insider and he is a non-existent persona designed for promotional purposes only.
And here we can see the original Bitcoin Loophole signals software and trading dashboard. We have attached the one for the Bitcoin Code scam right below it for comparative purposes, and any child can see that it’s a clone. Go ahead, click the image to enlarge it and see for yourself.
Bitcoin Loophole New Signals Panel
This is the newer version of the Bitcoin Loophole user interface, and while it looks more professional and slick it still performs the same dirty tricks.
The stop loss features, demo account, max trades, and stop loss features are all non-functional and designed to attract unwitting customers who will signup for anything they think will help them make money.
Fake Bitcoin Loophole Reviews
Above you can see how fake review sites are becoming a very dominant part of this scam ecosystem and providing the kind of reputation management and online presence which only solidifies and maintains this scam’s positive or appealing allure. Feel free to click the image below to enlarge and see exactly how a fake review looks like so you can avoid it.
Bitcoin Loophole Fake News
OK so this is the starting point and where most victims are attracted by fake news articles. Usually viewers who search the internet for a quick way to generate money with Bitcoin online will end up reaching spoofed or fake news pages. Most recently there have been reports about fake advertorial-style spoofed news websites which use (and abuse) the names of celebrities or high profile individuals such as Harry and Meghan, Richard Branson, Elon Musk, Peter Lim, Gordon Ramsay, Daniel Radcliffe, James Mcavoy, Bear Grylls, Shark Tank, Dragons’ Den, and many others.
Bitcoin Loophole App
It’s baffling how it’s even possible for anyone to simply create a fraudulent app and freely promote it on Android or IOS. People actually install the Bitcoin Loophole app because they read fake reviews about how profitable it is, and end up getting scammed by some offshore broker. If you are in the United Kingdom you should know that the Bitcoin Loophole scam has been officially blacklisted by the Financial Conduct Authority for providing financial services in the UK without authorization. We have added screenshots below of the FCA warning, the installation page, as well as letters from Peter Jones and Martin Lewis who are saying they have nothing to do with this scam.
Bitcoin Loophole: What Is It, Who Is Steve McKay, And How Is It Supposed To Work?
The Bitcoin Loophole scam is advertised as a Bitcoin Trading Robot which “takes advantage of the huge returns offered by minimal Bitcoin investments”. They say that the loophole is a type of trading algorithm which beats the market rates because it is able to execute trades faster. Steve McKay is not a real person and most definitely not a “software developer turned investor who wants to teach his techniques to others”. These are all lies designed to trap and mislead unsuspecting victims.
Bitcoin Loophole Review, Maximum Profitability Or Crypto Scam?
The Bitcoin Loophole is a textbook example of what we consider to be a get-rich-quick crypto scam. It has been copied, recycled, and promoted by various affiliate networks for the last 3-4 years. Since there are multiple versions of this software, there are some variations in the promotional texts and design. But in most cases the sales video is the same and it’s always the fictitious Steve McKay which is being used. In the one we exposed you can see three main variations. The first has to do with the fake testimonials they are using, and we have attached an image of that above for you to see. The second has to do with a recycled sales pitch taken from one of the Bitcoin Trader clones which talks about the “time leap” concept and how it’s ahead of the market by 0.01 seconds.
And the third is the most despicable, and has to do with the scammers literally trying to manipulate search results by trying to act as a review website. We believe that one can’t attest on one’s behalf since it is obviously biased and immediately tainted. But the liars are using a type of content strategy which serves a dual purpose. The first has to do with trying to get you to lower your levels of resistance, and secondly by gaining exposure on various search combinations related to scam and Bitcoin Loophole. It doesn’t work and people see straight through that, but they obviously don’t care (see above image for reference).
Bitcoin Loophole Review Continued: Financial Freedom With Bitcoin (Or Not)!
This fraudulent software was designed for the sole purpose of getting you to signup so you could invest and lose your money. The more you lose the better their marketing campaign is and the more victims the affiliates can keep referring and get higher commissions. That’s how the scam works and the only ones making the real money here are the promoters and offshore Forex and CFD brokers.
Is It Free?
Not really! It will cost you €/£/$250 to get started (that’s the minimum deposit amount). However we did receive some reports about traders being requested to invest at least €500, and in some cases even €1,000. This is particularly noticeable during the weekends or holidays, and we suspect it has to do with the fact that there is less staff available to con you out of your money, so the brokers are just raising the minimum requirements.
Forex Bots, Signals, And Automated Trading
Bitcoin Loophole represents a case exemplar of a modern crypto scam according to our view. The same marketing methods are used in most make-money crypto schemes, signals, and auto-traders which are flooding the internet on a daily basis. This is done because brokers are willing to pay hefty referral commissions for real-money investors, and that completely corrupts the online trading industry. Sadly, this trend will not abate any time soon.
Alternatives That Really Work
Believe it or not there are a few systems that actually work, and we have these systems tested by an objective third party which specializes in websites audits and algorithmic trading. The company we used is listed in the UK and has a legal representative in London’s financial district near Canary Wharf. Once it passes their inspection we add it to our recommended section so you can gain access to a tested software which is consistently profitable.
Bitcoin Loophole Review, Summary, and Conclusions
The Bitcoin Loophole SCAM by Steve McKay is a blacklisted software, app, and automated trading robot. Our researchers here at CSR Academy were able to produce clear and conclusive proof of scam an malicious foul play. The object of this over-hyped crypto scam is to appeal to your sense of greed and use that in order to get you signed up and depositing with an offshore Forex broker. Once that’s done you will find out the hard way just how deceptive the Bitcoin Loophole scam really is. If you require additional information in regards to this bogus app, please feel free to contact us by leaving a message below.
