Audit log

Every state-changing event for BitradeX: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-14 23:12:41Z
   Score: ? → ? (no score change)
   anchorpending

   chain

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   hash

   HDc7XiY3nZmr…E3Y46jtkcopysha256 → base58

   verifying row…

   canonical bytes (22288 B) ▸

   {"actor":"system:backfill","investigation_id":"545f775d-f1a1-4fc5-9939-be733ad3dcc5","kind":"publish","page_slug":"bitradex","published_at":"2026-08-14T23:12:41.777Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"BitradeX","sections":[{"content":"BitradeX presents itself as a 'leading global digital asset trading platform' whose flagship product is an AI Bot trading suite, branded around a proprietary 'ARK Trading Model.' The platform claims this model achieves over 90% short-term trend prediction accuracy and has delivered annualised returns of 120%–182.5% in live conditions. The AI Bot product officially launched on 2 April 2025. Lock-up products marketed under 'AI 30-360' offer 0.3%–0.5% daily returns depending on duration; a shorter 'AI Daily' product promises 0.1%–0.25% weekly returns over a six-week cycle. No independent audit or third-party verification of these performance figures has been identified. The platform's own About page states it was founded in 2020 and established its trading platform in 2022, but the sole UK legal entity associated with it — Bitradex Fintech Limited — was not incorporated until 18 March 2025. BitradeX's primary domain moved from bitradex.com to bitradex.ai in January 2026 after the original .com domain was reportedly frozen by its registrar due to fraud concerns, according to BehindMLM.","heading":"Platform Overview and Claimed Products","severity":"high","sources":[{"credibility":3,"name":"BitradeX About Page (archived)","type":"official","url":"https://www.bitradex.ai/en/aboutus"},{"credibility":3,"name":"BitradeX AI Bot Help Center Announcement","type":"official","url":"https://help.bitradex.com/hc/en-001/articles/12379906314895-BitradeX-s-New-Digital-Asset-Smart-Investment-Product-AI-Bot-Set-to-Launch"},{"credibility":2,"name":"BehindMLM: BitradeX Review — Olivier Giroud fronts MLM crypto Ponzi","type":"community_report","url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"credibility":1,"name":"BITRADEX FINTECH LIMITED — Companies House Overview","type":"official","url":"https://find-and-update.company-information.service.gov.uk/company/16322746"}]},{"content":"Multiple analyst sources, most prominently BehindMLM, characterise BitradeX as operating a pyramid/Ponzi hybrid in which no retail product is sold to end consumers. Participation requires a minimum 50 USDT deposit. The platform offers a six-tier VIP ranking system (VIP1–VIP6) with eligibility determined by personal investment size and the number of recruited sub-affiliates. An ROI Match mechanism cascades partial returns to upline recruiters: VIP1 qualifiers allegedly receive a 10% match on level-one recruits' returns and a 5% match on level-two recruits' returns, scaling to a 60%/5% split for VIP6. Higher tiers require progressively larger personal downlines — VIP5 reportedly requires nine personally recruited promoters and $6,000,000 in total downline investment. BehindMLM concludes that, because no product or service is retailed externally, participant returns depend structurally on continued recruitment, a hallmark of pyramid and Ponzi schemes. These characterisations are made by a third-party analyst and have not been adjudicated by any court.","heading":"MLM Structure and Recruitment Model","severity":"critical","sources":[{"credibility":2,"name":"BehindMLM: BitradeX Review — Olivier Giroud fronts MLM crypto Ponzi","type":"community_report","url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"}]},{"content":"BitradeX has accumulated formal investor warnings from regulators in three jurisdictions between February and April 2026.\n\nThailand SEC (February 2026): Thailand's Securities and Exchange Commission issued a securities fraud warning designating BitradeX as an 'unlicensed digital asset business.' The warning specifically cited the bitradex.ai website, the associated Google Play Store application (listed under Bitradex Fintech Limited, which had accumulated over 50,000 downloads at the time of the warning), and a local Thai Facebook profile linked to the platform.\n\nSecurities Commission Malaysia (16 March 2026): The SC Malaysia added BitradeX to its Investor Alert List — a public register of entities operating without authorisation in Malaysia's capital market. The list update, dated 16 March 2026, named BitradeX alongside four other entities. The SC advises the public not to invest with listed entities and directs queries to its Consumer and Investor Office.\n\nAlberta Securities Commission (16 April 2026): The ASC added BitradeX and its associated website bitradex.ai to its Investment Caution List, stating that the entity 'is not registered to trade in or advise on securities or derivatives in Alberta.' The ASC entry directs investors to CheckFirst.ca to verify registration.\n\nA separate FCA warning issued on 29 December 2022 targets an entity named 'BIT-TRADEX' operating at bit-tradex.org — a different domain and entity name from the BitradeX operating at bitradex.ai. Third-party review sites link the two entities, but the FCA warning does not reference bitradex.ai or Bitradex Fintech Limited, and this connection has not been independently confirmed. Readers should treat the 2022 FCA action as concerning a related but potentially distinct entity.","heading":"Regulatory Actions","severity":"critical","sources":[{"credibility":2,"name":"BehindMLM: BitradeX securities fraud warning from Thailand","type":"regulatory","url":"https://behindmlm.com/companies/bitradex-securities-fraud-warning-from-thailand/"},{"credibility":1,"name":"Securities Commission Malaysia Investor Alert List (as at 16 March 2026)","type":"regulatory","url":"https://www.sc.com.my/resources/media/investor-alert-updates/investor-alert-list-as-at-1632026"},{"credibility":1,"name":"Alberta Securities Commission Investment Caution List — BitradeX","type":"regulatory","url":"https://www.asc.ca/Enforcement/Investment-Caution-List/b/BitradeX"},{"credibility":1,"name":"FCA Warning: BIT-TRADEX (December 2022 — distinct domain bit-tradex.org)","type":"regulatory","url":"https://www.fca.org.uk/news/warnings/bit-tradex"},{"credibility":2,"name":"Malaysia SC Updates Investor Alert List with 5 New Unauthorised Entities","type":"news_article","url":"https://www.fastbull.com/brokersview/news/malaysia-sc-updates-investor-alert-list-with-5-new-unauthorised-entities-322609"}]},{"content":"The sole UK legal entity publicly associated with BitradeX is Bitradex Fintech Limited (Companies House number 16322746), incorporated on 18 March 2025 as a private limited company. Its registered office address — initially listed as a virtual office suite in Kington, Herefordshire, and later at a Suffolk address — is consistent with nominee-address registrations used by shell companies. The sole director and person with significant control is Kesavan Kamaraj, of Indian nationality and resident in Tamil Nadu, India, who holds 75% or more of shares and voting rights. His identity was verified on 13 May 2026 through Hong Kong Keyray Accountants Limited ACSP. Despite a UK legal registration, BehindMLM and other investigators point to evidence of Chinese operational control, including the Apple App Store listing under the Chinese-character developer name '辉 陈' and website language defaults that defaulted to Chinese in late 2025. These indicators suggest the true beneficial owners and operators may differ from the registered corporate officers, but this has not been established in any court or regulatory finding.","heading":"Corporate Structure and Beneficial Ownership","severity":"high","sources":[{"credibility":1,"name":"BITRADEX FINTECH LIMITED — Companies House Overview","type":"official","url":"https://find-and-update.company-information.service.gov.uk/company/16322746"},{"credibility":1,"name":"BITRADEX FINTECH LIMITED — Persons with Significant Control","type":"official","url":"https://find-and-update.company-information.service.gov.uk/company/16322746/persons-with-significant-control"},{"credibility":2,"name":"BehindMLM: BitradeX Review — Olivier Giroud fronts MLM crypto Ponzi","type":"community_report","url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"}]},{"content":"On 12 June 2025, BitradeX issued a press release via PR Newswire announcing that French international footballer Olivier Giroud — France's all-time top scorer and former AC Milan striker — had been appointed Global Brand Ambassador. Giroud confirmed the arrangement on his official X (formerly Twitter) account. The press release described BitradeX as 'a leading global digital asset trading platform' and framed the partnership around themes of composure and long-term investment discipline; it made no specific return guarantees. Giroud's endorsement appeared prominently on the BitradeX website and was carried by Crypto Briefing and other outlets. There is no public evidence that Giroud conducted due diligence on BitradeX's regulatory status before accepting the role. As of the time of this investigation, no public statement from Giroud acknowledging the subsequent regulatory warnings has been identified.","heading":"Olivier Giroud Brand Ambassador Role","severity":"high","sources":[{"credibility":2,"name":"PR Newswire: Olivier Giroud Announced as BitradeX Global Brand Ambassador (16 June 2025)","type":"official","url":"https://www.prnewswire.com/news-releases/world-cup-champion-olivier-giroud-announced-as-bitradex-global-brand-ambassador-bridging-elite-sportsmanship-and-fintech-innovation-302482364.html"},{"credibility":3,"name":"Olivier Giroud on X confirming BitradeX partnership","type":"social_media","url":"https://x.com/_OlivierGiroud_/status/1933192895357649006"},{"credibility":2,"name":"Crypto Briefing: Giroud crypto ambassador role highlights football–digital assets intersection","type":"news_article","url":"https://cryptobriefing.com/giroud-crypto-ambassador-world-cup-2026/"}]},{"content":"Users on Trustpilot and other review platforms have filed complaints alleging account blocks and refusal of withdrawals. A YouTube video titled 'BITRADEX SCAM - Watch This To Withdrawal' circulated among affected users. BehindMLM, citing on-platform observations, reports that BitradeX began applying selective withdrawal restrictions before disabling withdrawals platform-wide around 9 August 2026. The platform allegedly deployed messaging attributing the shutdown to a hack — a pattern BehindMLM characterises as a standard exit-scam narrative. These collapse reports derive from BehindMLM (a Tier 2/community source) and user-generated content; no law enforcement press release or court filing confirming an exit scam has been identified as of the date of this investigation. The claims are reported here as alleged.","heading":"Withdrawal Complaints and Reported Collapse","severity":"critical","sources":[{"credibility":2,"name":"BehindMLM: BitradeX Review — Olivier Giroud fronts MLM crypto Ponzi","type":"community_report","url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"credibility":3,"name":"Trustpilot: BitradeX (bitradex.ai) Reviews","type":"social_media","url":"https://www.trustpilot.com/review/www.bitradex.ai"},{"credibility":3,"name":"YouTube: BITRADEX SCAM - Watch This To Withdrawal","type":"social_media","url":"https://www.youtube.com/watch?v=6ZmZIWC69hA"}]},{"content":"According to SimilarWeb data cited by BehindMLM as of January 2026, bitradex.ai attracted approximately 646,000 monthly website visits. The largest traffic cohorts by country were Japan (23%), Brazil (13%), Malaysia (6%), Saudi Arabia (5%), and Italy (5%). The platform's Google Play Store application had accumulated over 50,000 downloads at the time of the Thailand SEC warning in February 2026. The concentrated user bases in Japan and Brazil represent markets where retail crypto investors may have limited recourse given the offshore corporate structure of the operating entity.","heading":"Geographic Reach and Investor Exposure","severity":"high","sources":[{"credibility":2,"name":"BehindMLM: BitradeX Review — Olivier Giroud fronts MLM crypto Ponzi","type":"community_report","url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"credibility":2,"name":"BehindMLM: BitradeX securities fraud warning from Thailand","type":"community_report","url":"https://behindmlm.com/companies/bitradex-securities-fraud-warning-from-thailand/"}]},{"content":"BitradeX holds no known registration with any financial regulator in any jurisdiction. Bitradex Fintech Limited has no FCA authorisation. The platform is not listed on the NFA, CFTC, SEC, or any comparable US regulator's database. The concurrent investor alerts from Thailand, Malaysia, and Alberta — issued within a nine-week window between February and April 2026 — represent a coordinated cross-border regulatory identification of the entity as operating without lawful authorisation. The FastBull/BrokersView research platform further notes the platform's presence on the IOSCO I-SCAN database of unregistered entities, though this was not independently verified against a primary IOSCO source for this investigation.","heading":"Lack of Registration and Authorisation","severity":"critical","sources":[{"credibility":1,"name":"Alberta Securities Commission Investment Caution List — BitradeX","type":"regulatory","url":"https://www.asc.ca/Enforcement/Investment-Caution-List/b/BitradeX"},{"credibility":1,"name":"Securities Commission Malaysia Investor Alert List (as at 16 March 2026)","type":"regulatory","url":"https://www.sc.com.my/resources/media/investor-alert-updates/investor-alert-list-as-at-1632026"},{"credibility":2,"name":"BitradeX Review 2026: Scam or Legit? Withdrawal & Risk Report — FastBull/BrokersView","type":"research","url":"https://www.fastbull.com/brokersview/brokers/bitradex"}]}],"sources_used":[{"credibility":2,"name":"BehindMLM: BitradeX Review — Olivier Giroud fronts MLM crypto Ponzi","type":"community_report","url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"credibility":2,"name":"BehindMLM: BitradeX securities fraud warning from Thailand","type":"community_report","url":"https://behindmlm.com/companies/bitradex-securities-fraud-warning-from-thailand/"},{"credibility":2,"name":"PR Newswire: Olivier Giroud Announced as BitradeX Global Brand Ambassador","type":"official","url":"https://www.prnewswire.com/news-releases/world-cup-champion-olivier-giroud-announced-as-bitradex-global-brand-ambassador-bridging-elite-sportsmanship-and-fintech-innovation-302482364.html"},{"credibility":3,"name":"Olivier Giroud on X — BitradeX partnership confirmation","type":"social_media","url":"https://x.com/_OlivierGiroud_/status/1933192895357649006"},{"credibility":2,"name":"Crypto Briefing: Giroud crypto ambassador role","type":"news_article","url":"https://cryptobriefing.com/giroud-crypto-ambassador-world-cup-2026/"},{"credibility":1,"name":"Securities Commission Malaysia Investor Alert List (16 March 2026)","type":"regulatory","url":"https://www.sc.com.my/resources/media/investor-alert-updates/investor-alert-list-as-at-1632026"},{"credibility":1,"name":"Alberta Securities Commission Investment Caution List — BitradeX","type":"regulatory","url":"https://www.asc.ca/Enforcement/Investment-Caution-List/b/BitradeX"},{"credibility":1,"name":"FCA Warning: BIT-TRADEX (December 2022)","type":"regulatory","url":"https://www.fca.org.uk/news/warnings/bit-tradex"},{"credibility":1,"name":"Companies House: BITRADEX FINTECH LIMITED Overview","type":"official","url":"https://find-and-update.company-information.service.gov.uk/company/16322746"},{"credibility":1,"name":"Companies House: BITRADEX FINTECH LIMITED — Persons with Significant Control","type":"official","url":"https://find-and-update.company-information.service.gov.uk/company/16322746/persons-with-significant-control"},{"credibility":2,"name":"BitradeX Review 2026: Scam or Legit? — FastBull/BrokersView","type":"research","url":"https://www.fastbull.com/brokersview/brokers/bitradex"},{"credibility":3,"name":"Trustpilot: BitradeX (bitradex.ai) Reviews","type":"social_media","url":"https://www.trustpilot.com/review/www.bitradex.ai"},{"credibility":3,"name":"BitradeX AI Bot Help Center Launch Announcement","type":"official","url":"https://help.bitradex.com/hc/en-001/articles/12379906314895-BitradeX-s-New-Digital-Asset-Smart-Investment-Product-AI-Bot-Set-to-Launch"},{"credibility":2,"name":"Malaysia SC Updates Investor Alert List with 5 New Unauthorised Entities — FastBull","type":"news_article","url":"https://www.fastbull.com/brokersview/news/malaysia-sc-updates-investor-alert-list-with-5-new-unauthorised-entities-322609"},{"credibility":3,"name":"YouTube: BITRADEX SCAM - Watch This To Withdrawal","type":"social_media","url":"https://www.youtube.com/watch?v=6ZmZIWC69hA"}],"summary":"BitradeX (operating primarily at bitradex.ai and previously bitradex.com) is an alleged MLM-structured cryptocurrency trading platform that markets AI-powered trading bots promising annualised returns of 109.5%–182.5%. Launched in early 2025 and promoted via French footballer Olivier Giroud as global brand ambassador from June 2025, the platform has received formal investor warnings from three regulators — Thailand's SEC (February 2026), Securities Commission Malaysia (March 2026), and the Alberta Securities Commission (April 2026) — each citing lack of registration or authorisation. BehindMLM and other analyst sources characterise the scheme as a Ponzi and pyramid hybrid with no retail product, Chinese-origin ownership obscured behind a UK-registered shell, and a pattern of withdrawal blocks consistent with schemes in terminal decline. As of August 2026, the platform reportedly ceased withdrawals and deployed an exit-scam narrative.","timeline":[{"date":"2022-12-29","event":"UK Financial Conduct Authority issues warning against 'BIT-TRADEX' operating at bit-tradex.org, a similarly named but distinct domain entity. The FCA states the firm may be providing unauthorised financial services in the UK.","source":"FCA Warning: BIT-TRADEX","source_url":"https://www.fca.org.uk/news/warnings/bit-tradex"},{"date":"2025-02-01","event":"BitradeX launches at bitradex.com. Platform offers AI Bot trading products with daily and weekly return schedules.","source":"BehindMLM: BitradeX Review","source_url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"date":"2025-03-18","event":"Bitradex Fintech Limited incorporated at Companies House (UK) as a private limited company. Sole director and 75%+ shareholder listed as Kesavan Kamaraj, resident in Tamil Nadu, India.","source":"Companies House — BITRADEX FINTECH LIMITED","source_url":"https://find-and-update.company-information.service.gov.uk/company/16322746"},{"date":"2025-04-02","event":"BitradeX AI Bot product officially launches.","source":"BitradeX Help Center","source_url":"https://help.bitradex.com/hc/en-001/articles/12379906314895-BitradeX-s-New-Digital-Asset-Smart-Investment-Product-AI-Bot-Set-to-Launch"},{"date":"2025-06-12","event":"BitradeX announces French international footballer Olivier Giroud as Global Brand Ambassador. Giroud confirms via X. Press release distributed via PR Newswire.","source":"PR Newswire: Giroud / BitradeX announcement","source_url":"https://www.prnewswire.com/news-releases/world-cup-champion-olivier-giroud-announced-as-bitradex-global-brand-ambassador-bridging-elite-sportsmanship-and-fintech-innovation-302482364.html"},{"date":"2025-11-01","event":"Wayback Machine captures bitradeX website defaulting to Chinese language, suggesting Chinese-origin operational team. Apple App Store developer name listed in Chinese characters ('辉 陈').","source":"BehindMLM: BitradeX Review","source_url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"date":"2025-12-31","event":"bitradex.com original domain reportedly frozen by registrar due to fraud concerns. Platform migrates to bitradex.ai.","source":"BehindMLM: BitradeX Review","source_url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"date":"2026-01-09","event":"BitradeX migrates to bitradex.ai as primary domain. Platform has approximately 646,000 monthly website visits; top traffic sources are Japan (23%) and Brazil (13%).","source":"BehindMLM: BitradeX Review","source_url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"},{"date":"2026-02-01","event":"Thailand Securities and Exchange Commission issues a securities fraud warning designating BitradeX an 'unlicensed digital asset business,' citing bitradex.ai, its Google Play app (then at over 50,000 downloads), and a Thai Facebook profile.","source":"BehindMLM: BitradeX securities fraud warning from Thailand","source_url":"https://behindmlm.com/companies/bitradex-securities-fraud-warning-from-thailand/"},{"date":"2026-03-16","event":"Securities Commission Malaysia adds BitradeX to its Investor Alert List, advising the public not to invest with the platform.","source":"SC Malaysia Investor Alert List (16 March 2026)","source_url":"https://www.sc.com.my/resources/media/investor-alert-updates/investor-alert-list-as-at-1632026"},{"date":"2026-04-16","event":"Alberta Securities Commission adds BitradeX (bitradex.ai) to its Investment Caution List, stating it is not registered to trade in or advise on securities or derivatives in Alberta.","source":"ASC Investment Caution List — BitradeX","source_url":"https://www.asc.ca/Enforcement/Investment-Caution-List/b/BitradeX"},{"date":"2026-08-09","event":"BitradeX allegedly begins disabling withdrawals platform-wide. Platform reportedly issues messaging attributing the shutdown to a hack. BehindMLM characterises this as an exit-scam narrative. No law enforcement confirmation as of this investigation date.","source":"BehindMLM: BitradeX Review (updated)","source_url":"https://behindmlm.com/mlm-reviews/bitradex-review-olivier-giroud-fronts-mlm-crypto-ponzi/"}]},"v":1}

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