There have been numerous scams plaguing the cryptocurrency industry. One of the latest problems making the rounds comes in the form of Razebit.
On the surface, this exchange may look perfectly legitimate.
Avoid Razebit and Lazebit Altogether
It has a professional layout and seems to go through the right motions when onboarding new users.
However, Razebit is also used in an ongoing “crypto exchange deposit scam”.
More specifically, users on Discord are receiving messages regarding a voucher for a Bitcoin balance.
This voucher needs to be redeemed on Razebit, similar to how BTC-E used to have a similar system when it was still active.
Once the user activates the code, their balance is effectively updated.
That is how scammers go to work, after all.
Withdrawing these funds is not possible, albeit it can be used to trade on the exchange, since these balances are completely fake regardless.
To withdraw funds, customers must first deposit 0.02 Bitcoin on the Razebit exchange platform.
This is the hook, line, and sinker of this scamming method.
Once a user deposits 0.02 Bitcoin, they will lose this deposit and not be able to access the voucher balance either.
It is a relatively common scam in this industry.
Rest assured multiple versions of this same scam exist, as both Razebit and Lazebit are confirmed exchanges active in such schemes.