Bitalium Collapses! Fakes “Security Audit” For Exit-Scam

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Bitalium Collapses! Looks like not that long ago Bitalium got rid of bitcoin withdrawals.

According to their announcement sent out to the affiliate investors this past week, ROI withdrawals can only be made in useless Bitalium tokens.

I did a review of Bitalium earlier.

At the time it was promoting up to $30,000 in bitcoin on a promise of a daily return for 270 days.

Not very long after it’s launch, Bitalium launched it’s Bitalium Token which is called BLM.

I suppose they launched this to prepare for a future exit scam.

To make sure you realize BLM is an ERC-20 token that costs Bitalium next to nothing to produce on demand.

Also in light of the fact that the BLM token isn’t traded on an open market, it’s useless outside the company.

Simply a couple of months after their Bitalium Token launch, they claimed that on October 12th there was a “security incident”.

As indicated by Bitalium, they said the following but didn’t touch base on WHAT the incident was exactly.

We would like to inform you, that are going through a security review to prevent such issues in the future.

The audit consists of 2 stages:

Reviewing the source code of our platform, which finished today morning and showed no issues. We would like to ensure that our platform is secure by design.
Reviewing the security practices of our employees. This phase will be followed with extended training about phishing practices and other types of vulnerabilities and how to prevent them.

We would like to inform you that until the security audit is finished, you are free to make withdrawals in BLM token.

Basically they are saying we can’t pay you in legit cryptocurrency, but take our useless BLM token instead.

As for my original Bitalium review, this is what the public exchange exit-scam will look like;

They do talk about how Bitalium Token is going to go on some exchanges, but it will be the dodgy ones.
What will happen with that is they will launch this Bitalium token and the value will sky rocket, however, once the top investors sell off their tokens the value will crash big time.
This means majority of the people will be stuck with useless tokens that can’t do anything.
Now the fake actor(s) and anonymous admin(s) will go start another scam and repeat the process.

As of right now Bitalium hasn’t given any time frame for the investors when it comes to their security audit.

Also, I am not sure they will actually go public or not.

The CEO Samuel Walch, who doesn’t exist outside the company, was still doing corporate webinars as of October 6th.

Now relying on the investors reaction on this horrible news about the withdrawals, they might get enabled about but for how long I am not sure.

End of the day once a company flatlines, it’s a sign they can’t keep up with the return on investment depend.

Purpose behind that is simple.

Insufficient new investments pay off existing members, which makes Bitalium Collapses!

In my review, I did call it a ponzi scheme and that was for a valid reason.

According to a birdy:

The real owners are Dmitry Velichko and Vladimir Piskun. Both are Ukrainian individuals.
Dmitry has been running all the corporate webinars at the beginning since the so called CEO Sam Walsh has no clue.
Vladimir has rallied all the international leaders using his wife as an intermediate since he doesn’t speak English.

To be honest, I can’t confirm any of this, however what I can confirm is Bitalium Collapses!

So take it with a grain of salt for now.

Anyway that’s it for the news!