Bitcoin Code is not Cryptocode: how the trading-robot scam works

Search for "bitcoin code" and you sometimes land on us. That is the search engine's mistake, and we would rather say it up front: Cryptocode is a comparison site for authorised crypto providers. We sell no software, we do not call you, and we never ask for a deposit. "Bitcoin Code" is the name of a so-called automatic trading robot that has been turning up in fake advertisements for years. This article explains how the trick works, how to recognise it, and what to do if you have already transferred money.

Why you end up here

We can see it in Search Console: over the past three months Google showed cryptocode.nl 359 times to people typing "bitcoin code", at an average position of around 33. Almost nobody clicks, and rightly so, because those people are looking for something else. We are writing this piece because some of them want to know whether the platform is trustworthy, and that answer deserves a page without a sales pitch.

How the trick works

The Dutch regulator AFM describes the pattern in one sentence: "A website promises guaranteed and high profits via a so-called 'automatic trading platform'." The Belgian regulator FSMA, which has tracked these platforms for years, is more specific about the steps. It starts on social media: "Most investment fraud begins on social media", with advertisements in which famous people have supposedly become rich. Then: "all you need is to fill out the contact form. A few minutes later, you will get a phone call from an 'expert'." That expert helps you make a first deposit, shows you a dashboard on which you are making a profit, and encourages you to deposit more. It always ends in the same place: "when you try to make subsequent withdrawals, unexpected problems emerge. You will have to pay unforeseen 'taxes'."

Those taxes do not exist. There is no robot, no trading and no profit; the dashboard is a picture. The name changes (Bitcoin Code, Bitcoin Supreme, BitiCodes, Bitcoin 360 AI, all names we see in searches leading to our site), the trick does not.

Five signs that give it away

1. A celebrity revealing "the secret". Presenters, entrepreneurs, royals. None of them has ever endorsed a trading robot; the quotes are invented. The AFM says it receives "reports every day from people who have been defrauded online or by phone", often "via a fake advertisement on Facebook, for example".
2. A contact form instead of an account. An authorised exchange lets you open an account and verify your identity yourself. A fraudster wants your phone number first.
3. A fixed starting amount described as "small", followed by ever larger requests.
4. Profit on a screen you cannot withdraw. The only moment that counts is the withdrawal. If it fails until you pay extra first, you have been robbed.
5. No legal entity, no address, no supervisor. Anyone who holds or exchanges crypto for you in the EU is listed in the ESMA register with company name, country and authorisation date. Our MiCA page carries that list, with the legal entity per provider. Look up the name you see in the advertisement there. If it is not there, you have at least not found a provider that holds your crypto under MiCA supervision.

What we are

Cryptocode compares providers that are in that register: Finst, BLOX, Kraken, OKX and others. For each we state the fee with source and check date, and we earn a fee if you open an account through our link; that is stated next to every link. What we never do: call you, ask for a deposit, or sell software. If you receive a message that appears to come from us and asks for money, it is not from us.

If you have already sent money

Stop depositing, even if the "expert" says one more payment will release everything. That is the last step of the trick. Report it to the police and to your national fraud helpline; in Belgium to the FSMA, in the UK to Action Fraud. If you paid by debit or credit card, call your bank and ask about a chargeback. If you paid in crypto, keep the transaction IDs and the address you sent to; they are traceable, even though the money rarely comes back. And expect a second call: "recovery agencies" that promise to retrieve your loss for a fee are the same people.

Frequently asked questions

Is Bitcoin Code trustworthy? The pattern the AFM and FSMA describe matches the advertisements with that name exactly: promised profit, contact form, phone call, deposit, withdrawal that fails. We know of no legal entity behind the name that appears in the ESMA register.

Is Cryptocode the same as Bitcoin Code? No. Cryptocode is a Dutch comparison site for authorised crypto providers, with contact details and an editorial team. We do not sell trading software.

Do real trading robots exist? There is software that places orders on a real exchange through an API key from your own account. That is something else than a website that takes your money. The difference: with real software your money stays in your own account at an authorised provider.

How do I check whether a provider is authorised? Look up the legal entity in the ESMA register or on our MiCA page. Check the company name, not the brand name.

Sources

• AFM, "Waarschuwingen", quote "Elke dag krijgen we meldingen...", last checked 7 September 2026.
• AFM, "Risico's van crypto", quote on the "automatic trading platform", last checked 7 September 2026.
• FSMA, "Fraudulent trading platforms: how fraudsters obtain your data", 14 February 2024, last checked 7 September 2026.
• Google Search Console, cryptocode.nl, queries over the last three months, read on 2 September 2026.
• ESMA register of authorised crypto-asset service providers, as of 21 August 2026.

This article contains no offer. Crypto is high-risk; you can lose your deposit. This is not financial or legal advice.