BitexWealth, a global digital asset trading platform, has announced that it has formally initiated legal proceedings against ScamAdvisor, citing “deliberate defamation, reputational sabotage, and an unethical extortion model targeting legitimate businesses.”
According to the legal department at BitexWealth, ScamAdvisor has repeatedly misrepresented the company as “high risk” on its platform, without any evidence, verification, or fair investigation process. The company further alleges that ScamAdvisor representatives have been reaching out persistently, offering “reputation correction” services for a fee, despite no negative listing being publicly visible on the site.
“This is not about consumer transparency or internet safety,” said BitexWealth’s legal counsel. “This is about monetizing fear and manipulating search influence to pressure honest companies into paying for their silence.”
ScamAdvisor’s Role in the Scheme
ScamAdvisor, based in the Netherlands, operates by assigning arbitrary “trust scores” to businesses online, including legitimate financial institutions. BitexWealth has confirmed that its brand was flagged as unsafe on ScamAdvisor without any factual basis or supporting documentation.
More concerning, BitexWealth alleges that even without a live negative listing, ScamAdvisor staff have made direct contact with the company on multiple occasions—soliciting payment for unspecified “brand protection” services and reputation improvement tools. This ongoing outreach began after ScamAdvisor internally labeled the company as “high risk,” creating a fabricated threat perception.
“There’s no public warning, yet they continue contacting us weekly, warning about visibility risks and offering paid options to protect our name,” said the legal team. “That is not compliance—it’s coercion.”
Legal Grounds for the Case
BitexWealth’s legal filing includes claims of:
- Commercial defamation
- Cyber extortion and coercive solicitation
- Unfair competition practices
- Damage to reputation through unsubstantiated risk labeling
Formal legal notices have been issued to ScamAdvisor’s parent company. The firm is preparing to pursue civil damages under both Dutch commercial law and international cybercrime statutes.
Impact on BitexWealth and Its Clients
Though no public accusations have been made on the ScamAdvisor site, BitexWealth has already experienced:
- Elevated client concerns stemming from misleading safety labels
- Disruption in onboarding flows from referral channels
- Increased digital marketing costs to protect search credibility
- Erosion of trust among partners and affiliates
“Our platform is stable, secure, and fully committed to transparency,” said the Operations Director of BitexWealth. “We will not tolerate efforts to undermine our integrity through manipulation tactics.”
Exposing a Larger Problem
This legal action is part of a broader push by BitexWealth to shed light on a growing pattern of behavior by online reputation platforms: flagging companies as risky or unsafe without investigation, then offering paid removal or optimization services to undo the self-created harm.
“It’s a playbook built on manufactured fear,” said the legal department. “Many companies quietly pay to avoid controversy. We refuse to.”
Formal Complaints Underway
In addition to legal proceedings, BitexWealth is filing official complaints with:
- The Dutch Authority for Consumers and Markets (ACM)
- ICANN and affiliated domain service regulators
- Major search engines, requesting delisting of defamation-influenced pages
The company is encouraging other trading platforms and fintechs to share similar experiences and help push for industry-wide protections against such abuse.
About BitexWealth
BitexWealth is an international trading platform offering advanced crypto, forex, and commodity market access. Known for speed, transparency, and AI-powered execution strategies, the company serves investors across over 40 countries with real-time analytics, client-first policies, and secure infrastructure.
