Overview
Table of Contents
Report status: Verified Risk
Risk level: High
Last reviewed: January 2025
Category: Fake trading platform
ISCO Warning — Verified Regulatory Source
The International Securities Commission Organization (ISCO) issued a public warning regarding Bitcoin Code platforms. This is a documented regulatory action by an international securities authority and is the strongest verifiable evidence item in this report. The ISCO warning is referenced in the Security and Licenses section below.
E>Evidence Status
- ISCO Warning: confirmed — International Securities Commission Organization issued public warning — see Security and Licenses section below
- Active domains: 20+ cloned websites identified — same design and claims pattern
- Founder identity: “Steve McKay” named as founder — no publicly verifiable person found with this name connected to this platform
- News coverage: BBC, CNN, and other outlets claimed — coverage could not be verified via original sources
- Celebrity endorsements: found — could not be independently verified
- Affiliate review activity: documented — see section below
- Operator identity: not found
- Registered legal entity: not found
- Trading license: not found
- Demo account: available
- Trustpilot: reviewed — issues identified, see section below
- Withdrawal process: not documented — elevated withdrawal risk
Do not deposit. ISCO warning confirmed. See full report below.
Bitcoin Code is an automated cryptocurrency trading platform. ScammerWatch reviewed publicly available information including 20+ identified domains, founder identity claims, news coverage, celebrity endorsements, security documentation, and ISCO warning.
Platform Claims and>Platform Claims and Domain Network
->There is a big difference between what Bitcoin Code really is and what it claims to be. Before we start exposing the truth, let’s first see what they’ve got to say.
Allegedly, Bitcoin Code is a platform whose algorithm can automate the process of trading with cryptocurrencies. The algorithm is reportedly AI-based. Also, the platform is easy to use and beginner-friendly.
Apart from the algorithm, the platform connects users with “licensed” brokers from around the world. These people provide knowledge and expertise that additionally increases the chances of profit for Bitcoin Code’s users.
Some of the reviews that could not be independently verified that praise Bitcoin Code even mention the possibility of customization and backtesting. However, we don’t get much more than a vague mention.
There is nothing unique about Bitcoin Code. It is a platform structure consistent with 20+ other reviewed platforms, using the same deception techniques as dozens of other other platforms reviewed by ScammerWatch.
Bitcoin Code has more than 20 cloned websites. They all share similar domains and almost the same amateur web design. Here are several scam crypto bots we have been warning about:
The Story of Steve McKay
The Story of Steve McKayparagraph -->Finally, there is the controversy of the developing team behind Bitcoin Code. In the “About us” section on one of the Bitcoin Code websites, we don’t find any names. On the contrary, we are reading about “a team of experts” with years of experience on Wall Street and in the Silicone Valley.
But, one of the affiliate reviews tells a story of certain Steve McKay. He is presented as the founding father of the platform. Steve McKay is a genuine person, and his LinkedIn profile shows that he has been a successful business developer for several decades.
However, in the list of his achievements, there is no mention of the Bitcoin Code crypto bot.
Besides, there is evidence that the scammers used free stock images and fake videos of people presenting as this businessman. So, McKay isn’t fictional, but he obviously has nothing to do with this platform.
Bitcoin Code Web Platform Review
The app has a demo mode.
According to some of the reviews, the Bitcoin Code “algorithm” has a profit close rate of over 85%. In reality, PCR usually ranges between 55% and 70%. Every person experienced in the crypto trade knows that. Thus, Bitcoin Code’s 85% is a clear overestimation and a lie.
The minimum deposit a user needs to make to use Bitcoin Code is €250. The withdrawals are promised within 24 hours. However, we don’t know which payment service providers are supported.
The bot “trades” with Litecoin (LTE), Ethereum (ETH), Bitcoin (BTC), and Ripple (XRP).
As is usually the case with scammy crypto bots, there are dozens of friendly affiliate “reviews”, but a lot of important information is missing. For instance, there is nothing about how exactly withdrawals are processed. Also, there are no educational materials and tutorials.
Security: Does Bitcoin Code Have Licences and Safety Protocols?>Security: Does Bitcoin Code Have Licences and Safety Protocols?
issued a public warning regarding Bitcoin Code. This is a documented regulatory action and is cited here as a verifiable third-party evidence source — not a ScammerWatch legal determination.Out of all cyber security measures contemporary crypto platforms use, Bitcoin Code talks about the SSL certificate. It is true that this type of encryption protects third parties from accessing the user data on the platform. However, it does not protect users from the website itself. And that is where the greatest peril lies in this case.
Allegedly, the brokers working for Bitcoin Code have CySEC licenses. There is no proof this is true. Besides, why would licensed brokers work free of charge? How would the platform – which reportedly doesn’t charge any service fees either – pay for their services? The context of nonsense tells us that all this information is a lie.
Risk Evidence — Documented
News Coverage and Celebrity Endorsements — Not Independently Verified
News Coverage and Celebrity Endorsements — Not Independently Verifiedwebsites and affiliate reviews claim that a number of celebrities, businessmen, sportsmen, pop stars, etc. support their work.One of the most iconic shams performed by Bitcoin Code was about sir Richard Branson, the famous British billionaire. The scammers somehow made it look like CNN published a piece of news, saying that Branson invested £135 million in a “new tech start-up”. By all means, it is easy to guess that the mysterious “tech start-up” was Bitcoin Code.
Furthermore, another easy guess is that this never happened. In an interview in 2018, Branson said that he had nothing to do with these crypto platforms. Also, he called their creators to stop damaging his and the crypto industry’s reputation
Except for Branson, people whose names were misused for the promotion of this scammy crypto robot are Elon Musk, Greta Turnberg, Keanu Reeves, Dragon’s Den, Novak Djokovic, and more.
Affiliate Review Activity — Documented
>Affiliate Review Activity — Documentedn Google, the first results that come up are positive reviews. All these posts claim that Bitcoin Code is a legit app, telling the old same story of how accurate, fast, and money-making the algorithm is.However, upon a closer look, it becomes obvious that the reviews are fake and why they are actually there.
To start with, a lot of these reviews are written in strange English and in a sneaky urging-to-buy tone. Besides, a lot of sentences don’t make much sense, like in the following example.
They were able to confirm that Elon Musk owns “a certain amount” of Bitcoin? Isn’t that something we all know? Besides, how useful this information is for people trying to figure out if Bitcoin Code is a legit trading app? Simply, it isn’t meant to be useful. It is an example of a bad and rogue marketing strategy.
The entire section of this affiliate review is filled with tirades about celebrities that “may have something” to do with Bitcoin Code, but actually they don’t. Confusing it is.
In reality, all these reviews aren’t there to give traders reliable information. Rather, their focus is to make money. When readers click the “Open Your Account Now” links, the rogue marketers earn a commission from the criminal organization behind Bitcoin Code. The same one, as behind these trading bots:
Geographic Reach — Multiple Markets
What is unique about the Bi>Geographic Reach — Multiple Marketserous, but very diligent con artists. While most scammy crypto bots usually target English-speaking countries, Bitcoin Code attacks even the smallest markets, such as Serbia, Kenya, and South Africa.
And since Bitcoin Code is one of the most widespread crypto bot scams in the world, it is already on the radar of some international legal authorities.
For instance, the International Organisation of Securities Commission’s (ISCO) issued a public warning about various Bitcoin Code platforms. According to ISCO and Danish FSA databases, Bitcoin Code was caught redhanded in Italy in 2019. And then again, a public warning was issued against the same platform in April 2021, this time in Spain.
Additional Risk Signals
One of Bitcoin Code’s websites displays a per>Additional Risk Signalsortedly a finance graduate working for the platform. To prove the legitimacy of this person, there is a link to his Facebook profile.
As expected, the profile is fake. How do we know? A picture from this profile actually belongs to Ukrainian pop star Volodymyr Ostapchuk.
Traders’ feedback on using Bitcoin Code
ScammerWatch cannot independently verify individual user reports. The following >Traders’ feedback on using Bitcoin Codeme of the original investigation.
In theory, Bitcoin Code promises highly responsive customer support available via phone, email, and live chat.
The reality is somewhat different, however. Trustpilot displays a warning that Bitcoin Code’s page has a number of reviews that could not be independently verified. Luckily, they haven’t succeeded to muzzle the voices of those who have been tricked by these swindlers.
The one-star reviews tell the truth about Bitcoin Code. There are dozens of testimonials of:
- people losing their money,
- receiving hundreds of obnoxious phone calls from international numbers,
- even getting creepy and threatening “voicemails with breathing”, as one user put it
- the unresponsive contact email
- email spam
Similar Trustpilot reviews have several scam crypto bots we have already reviewed:
FAQ on Bitcoin Code
It is a platform presenting itself as a crypto trading bot. In reality, it is a scamming website, used to extract money from users and sell personal data to third parties.
No. On the contrary, Bitcoin Code doesn’t have any genuine licenses and doesn’t employ any cybersecurity protocols. Your personal data and resources are at risk while using this platform.
No. On the contrary, you will most probably lose everything you deposit on the platform.
Bitcoin Code has no algorithm. It is a fake crypto trading bot.
Verification Status
Report status: Verified Risk. Risk level: High. The International Securities Commission Organization (ISCO) issued a public war>Verification Statusde platforms — this is a verified regulatory action and the strongest evidence item in this report. 20+ cloned domains with the same design and claims pattern were identified. The founder named “Steve McKay” has no publicly verifiable identity connected to this platform. News coverage and celebrity endorsements could not be verified via original sources. Affiliate review activity was documented. Operator identity and trading license could not be found. Trustpilot data reviewed — issues identified.
This assessment combines ScammerWatch’s independent review with a verified regulatory action by ISCO. The ISCO warning does not constitute a ScammerWatch legal determination — it is a documented third-party regulatory action cited as a verifiable evidence source.
If you have used Bitcoin Code and experienced withdrawal difficulties, deposit loss, or have screenshots, transaction records, or communication logs related to this platform, submit them at scammerwatch.com/report-a-scam .
Reviews
I had high hopes for Bitcoin Code, but it quickly became evident that it was nothing more than a scam. I lost a significant amount of money and would not recommend it to anyone. Stay away from this one.
They lured me in with grandiose claims of huge returns, but in reality, their algorithms were poorly designed and unreliable. I constantly suffered losses and would advise others to stay away from this scam.
I fell for the Bitcoin Code fraud, and it ended up being a costly mistake. The customer service was non-existent, and my withdrawals were never processed. What a rip-off.
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