Scoutinternal

Unsolicited Investment, Loan, and Funding Spam Sent to BitGo Support

Unsolicited Investment, Loan, and Funding Spam Sent to BitGo Support

Problem

BitGo Support regularly receives unsolicited emails from external parties offering investment opportunities, loan financing, business funding proposals, investor database sales, partnership solicitations, and third-party newsletters. These messages are not related to BitGo products or services and are sent to support@bitgo.com by mistake or as mass-market spam. Occasionally, the cluster also includes contacts from individuals who appear to be victims of investment scams impersonating BitGo, or people who mistakenly believe BitGo is an investment platform where they can deposit personal funds.

Diagnostics

  • Verify the sender is not an existing BitGo customer. Search the sender's email address in the admin tool to confirm there is no associated BitGo account.
  • Check the email content for spam indicators. Look for hallmarks such as: unsolicited loan offers with fixed interest rates, requests to invest with BitGo as if it were a retail investment platform, mass-distributed newsletters from unrelated financial companies, or proposals for project financing and joint ventures.
  • Check for scam victim indicators. Look for references to "account numbers" (BitGo does not use account numbers), mentions of paying taxes before withdrawals, short deadlines (e.g., 72-hour windows) to pay fees, or descriptions of investment processes that do not match any BitGo product. These suggest the sender may have been targeted by a scam impersonating BitGo.
  • Distinguish from legitimate enterprise inquiries. If the sender expresses genuine interest in becoming a BitGo enterprise client or using BitGo custody/prime services, that is a sales lead rather than spam and should be routed appropriately.
  • Check for legitimate tax/reporting requests buried in spam-like subject lines. Some tickets with investment-related subjects (e.g., "Strategic asset planning") may contain legitimate requests such as 1099 forms or trade report generation.

Resolution

Scenario: investment-funding-project-financing#unsolicited-spam-no-bitgo-account

Trigger: The inbound email is an unsolicited investment offer, loan proposal, funding pitch, newsletter, or partnership solicitation from a sender with no BitGo account.

Signals: investment, funding, loan, financing, project, investors, interest rate, partnership, business loan, newsletter, broker, commission, joint venture, debt financing

Steps:

  1. Confirm the sender has no account on the BitGo platform.
  2. Do not engage with the content of the solicitation.
  3. Close the ticket without responding, or mark it as spam per internal procedures. Many historical tickets in this category were closed with no agent response.

Notes: The overwhelming majority of tickets in this cluster (investment proposals, loan offers, newsletter blasts, database-of-investors pitches) require no action. Do not forward these to any internal team unless there is a security concern (e.g., phishing link targeting BitGo employees).

Scenario: investment-funding-project-financing#potential-scam-victim

Trigger: The sender appears to believe BitGo is a retail investment platform, references "account numbers," asks about paying taxes before withdrawals, or describes investment processes inconsistent with BitGo products.

Signals: account number, withdrawal, taxes before withdrawal, 72-hour, investment decision, invest with you, potential investment, blocked account

Steps:

  1. Search for the sender's email in the BitGo admin tool to verify whether an account exists.
  2. If no account is found, inform the sender that you are unable to locate their account and that BitGo does not use "account numbers." Clarify that BitGo's only website is https://www.bitgo.com/
  3. If the sender's description of "investing" does not match any BitGo product (custody, trading, prime lending), advise the sender that they may be interacting with a fraudulent entity impersonating BitGo.
  4. Do not provide any financial advice or confirm any investment-related claims made by the sender.
  5. Close the ticket after responding.

Notes: BitGo does not operate as a retail investment platform. BitGo does not require users to pay taxes upfront before withdrawals, nor does it impose 72-hour deadlines for tax payments. These are hallmarks of advance-fee scams.

"We are unable to locate your user account on our platform, please send an email from your account which is registered on BitGo. Please note that we do not use 'account number' on our platform and hence you are probably contacting the wrong Support team. FYI, our only website is https://www.bitgo.com/" (ticket #30940)

Scenario: investment-funding-project-financing#genuine-interest-in-bitgo-services

Trigger: The sender expresses interest in becoming a BitGo enterprise client, using BitGo custody, or exploring BitGo products and services — not offering an investment to BitGo.

Signals: invest with you, enterprise client, become a client, products and services, open to discussions

Steps:

  1. Direct the sender to the BitGo official website for information about products and services: https://www.bitgo.com/
  2. If the sender wishes to become an enterprise client, direct them to the sales contact form: https://www.bitgo.com/connect-with-us/
  3. Inform the sender that someone from the sales team will follow up after they submit the request.
  4. Follow up after a reasonable period to check if the sender still needs assistance. If no response, close the ticket.

Notes: This scenario applies only when the sender genuinely wants to use BitGo services, not when they are pitching an unrelated investment to BitGo.

"You may learn more about our products and services from our BitGo Official website: https://www.bitgo.com/ If you wish to become an enterprise client with us you may contact us at: https://www.bitgo.com/connect-with-us/ As soon as you submit the request someone from our sales team will get back to you soon." (ticket #23391)

Scenario: investment-funding-project-financing#tax-reporting-request

Trigger: The ticket subject references investment or asset planning but the actual request is for tax forms (e.g., 1099) or trade reports from BitGo.

Signals: 1099, tax forms, tax loss harvesting, trade reports, end of year, W-9, C-Corporation

Steps:

  1. Verify the sender has an active BitGo account.
  2. Escalate to the internal team to determine whether a Form 1099 was issued for the account.
  3. If the customer's Form W-9 on file indicates they are an LLC taxed as a C-Corporation, inform them that under IRS rules, C-Corporations are exempt from 1099 reporting requirements.
  4. For trade report generation, advise the customer to navigate to the 9 dots menu > Reports within the BitGo platform.
  5. Close the ticket once the customer confirms resolution.

Notes: Not all customers receive a Form 1099. The determination depends on the entity type indicated on their W-9. This scenario is a legitimate support request despite the investment-themed subject line.

"a Form 1099 was not issued for your account as your Form W-9 on file indicates that you are an LLC taxed as a C-Corporation. In accordance with IRS rules, C-Corporations are exempt from 1099 reporting requirements." (ticket #337276)

"You may generate the trade reports under the 9 dots menu > Reports" (ticket #337276)

Related

  • bitgo-service-overview — General overview of what BitGo offers, useful for clarifying BitGo is not a retail investment platform.
  • prime-lending-borrowing — Details on BitGo Prime lending/borrowing services, relevant if a sender's inquiry actually relates to institutional lending.