Hexabot is a crypto currency auto trader, which fancies itself in the vein of well-known, legitimate auto traders such as Gunbot. While the whole premise on which the Hexabot pitch is built, is indeed feasible and reasonable, there are a number of problems which just make us go “hm…”
What exactly is Hexabot?
Hexabot is a crypto currency auto trader, which operates off the cloud, meaning that it is hosted on remote servers and users don’t actually have to download and install it. That’s not how established auto traders work, but it is feasible and indeed possible, so that’s not really a red flag. Hexabot registration literally takes a few seconds and the user is ready to trade as soon as a Bitcoin deposit is made into the specified “personal” wallet address, provided under the “wallet” tab of the Hexabot user interface.
There are three available strategy modules: the scalping one promises returns of 2.0%-2.3% daily. The Technical Trading one ups the stakes to 7.1%-8.2% every three days. The Swing Trading one promises 22.1%-24.1% returns weekly. Every one of these modules can be activated for free. That’s pretty much all there is to activating Hexabot – it is indeed a LOT simpler than setting up something like Gunbot, where scores of rather technical settings have to be navigated before any actual trading takes place.
In addition to the actual auto trader, Hexabot offers a Bitcoin faucet too, through which users can simply claim minute amounts of BTC, absolutely free and without ads being shoved into their faces.
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Other promises of Hexabot include instant withdrawals (processed and sent to users’ wallets immediately), hourly interest, a welcome bonus of sorts, of 0.0001 BTC and a referral scheme, which hands a 5% reward to all users who bring someone else into the fold. A compounding feature encourages existing users not to withdraw their funds, but to re-invest them to grab still more profits.
The person behind the Hexabot operation is a developer called Peter Shepherd, who is apparently very amiable and who interacts with the community through live chat.
Can I Trust Hexabot?
We are very much on the fence about this one. As said, the theoretical side of the business model used here is indeed feasible and it has been employed by legitimate operators. Still, the whole setup raises too many red flags for comfort. On our part, we’ll say for now that we would not trust it, though we shall reserve definitive judgment, pending more feedback from actual, verifiable users.
Red Flags and Question Marks
Unfortunately, such items are very common on the Hexabot “menu.” As a matter of fact, everywhere one looks, one or two such red flags jump out.
The website was registered on 9/8/2017. It is very young, and it just hasn’t been around for long enough to generate relevant user feedback.
The Peter Shepherd identity may be a fake one. We’re not saying it is, but it is a very common name and there just does not seem to be any Bitcoin-related record of it online.
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While for the most part, the grammatical quality of the website copy is proper, there are spots here and there, which were definitely not written by a native speaker. Some of these errors are quite blatant. This may not mean much at all, but our overall experience is that beyond a typo or two, proper English is never a problem with legit operators.
The business model – despite its feasibility – has some major holes in it. First off, the site says the bot NEVER loses. Legitimate auto traders never make such claims, as they are fully aware that their users are never more than a bad setting away from racking up losses. Secondly: artificial intelligence is brought into the equation – this one never bodes well.
There’s an utter lack of transparency regarding the inner workings of the software, and there are no proper settings users can tinker with. We can select the strategy to use, but there are finer settings which are absolutely necessary for a proper auto trader, and we don’t really know what kind of mechanisms the strategies employ.
The promises made by every one of the available strategies are simply too good to be true. The return percentages are out of this world.
Why is everything free? The creators of proper auto traders charge for the licenses they hand out, and they charge quite a bit too. A lot of work goes into proper auto traders and letting everyone access them for free is no way to monetize them.
The 5% affiliate setup is a tool often used by Ponzi schemers to effectively turn their victims into promotional engines, thus securing the flow of fresh funds through their pyramids. The compounding feature fits the Ponzi theory to T as well.
Last, but certainly not least, not all is right with the user testimonials presented at the bottom of the Hexabot homepage either, in the sense that they seem fake.
Take Amber McNulty from Melbourne, Australia for instance. Her picture is the same as the YouTube channel picture of a certain Brianne Fick, who has 20 followers there. Was it lifted from there, or did the YouTuber steal it from this brand new auto-trading site?
Hexabot Complaints
There are no proper complaints about Hexabot out there yet, just affiliate pushers and a few calls for caution from neutral people.
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We have recently received payment proof of some minor BTC amounts, from a Hexabot user. For what it’s worth, we are putting this out there. Still, we continue to advise caution with this operation, bearing in mind that every Ponzi scheme pays its clients/victims in the beginning.
Testimonials
I invested a small amount and after 2 days I cannot log into my account. I clicked the forgot password also, and no progress. I e-mailed them and the server rejected the mail address as invalid. I sent a message from their Contact page with zero replies. I then realized that I have been scammed. I also then tried to use my login details again to register it again. Then the system stated that the e-mail is already in use. So on registering it recognises the email address, but on login it states its invalid.
Popularity
At the time of writing this review (November 1, 2017), there was no data available regarding Hexabot’s popularity on either SimilarWeb. According to Alexa.com, Hexabot.top’s global rank was 347,332, indicating the site is getting some visitors, especially from the United States, Germany, Russia, India and Sweden.
Hexabot Review Conclusion
While the idea behind Hexabot is feasible, as you can see above, the setup generates way too many questions and red flags. This may indeed be a Ponzi scheme. For the time being, we shall refrain from calling it that though. As some relevant user feedback trickles in, we will all find ourselves in a better position to cast judgment. For the time being, we shall not invest our BTCs with this site though.
Verdict: HexaBot is a SCAM!
Blacklisted site: HexaBot.top
For alternatives, feel free to visit our Cryptocurrencies Day Trading Center.
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how did you loose 3k, did it vanish from your account? please explain
My account got locked too after having deposited a substantial amount of bitcoins.I contacted the support . I got some elusive answers before they went all together taciturn
Wow! How long has it been?
3 days ago
contact teh TG support jerry is very fast after he gets ahold of it,
Telegram @hexabot_top
Yesterday I tried to contact them via telegram expounding my issue again. To date I got no reply. How do you know the guy’s name is Jerry? Do you know them personally?
My account was locked out few hours ago right after I put in a significant amount of BTC on November 23, 2017. When i try to sign, It keep telling me username password incorrect. This does not make sense. I sending out emails to all parties concerned who can assist.
Support tickets were sent several times and they did not get back to me.
This is exactly what had happened to me as well… did you open multiple accounts? They shut down multiple accounts in order to prevent cheating on their affiliate program
No I only have one account.
After sending several emails I finally got a response that the server is down.
Then a second emali was sent to me with a password.
I tried to log in after several attempts to log in with the new password they sent me but still cannot get in.
I will follow up later in week.
As long as they keep communicating your cause isn’t lost. Keep us updated
Hey guys, Any news about your blocked account??
this happen to me as well after i deposited $13000 of bitcoin
why would you deposit that much in a new company,go in small,see how it goes then maybe go bigger can`t understand people putting in big sums, hope it`s not gone for your sake,
How did this end?
beta.companieshouse.gov.uk/company/10991182
To have informations
i see “AI” used all the time as a marketing gimmick. not a red flag to me. if the descriptions of how the bots worked were more technical it might be a red flag, but all i see is marketing-speak. i’m fine with that. it’s like putting “gluten free!” or “deliciously satisfying!” on a bag of chips (unfortunately).
from a comment above: “AI is artificial intelligence, usually denoting software capable of LEARNING and MAKING DECISIONS on its own, employing fuzzy logic and various feedback cycles.” that is not hard to believe at all. i’ve made flash animations in the 90s i could describe with those words.
your taking 1 thing i say to adress it, and IGNORING the rest.
found something interesting did you see the part about the first image?
linkedin.com/in/tsvetan-futekov-21aa973b/a person in the UK who studies in Subjects studied: Financial Accounting, Management Accounting, Advanced Management Accounting, Financial Investigation, Financial Analysis, Corporate Finance, Financial Concepts and Business Law. ???
alot of the demographic match not a native speaker from the UK, but was in finances?
maby a link there
he is also the president of this company: mykindafuture.com
also mentions he is a Data Analyst, so… IDK maby he looked into all the scas going on online and said ahhh what teh f there all doing it i can do it im a pro at finances i know how…? or is he a patsy for a fall guy?
dont know just think some dots match but doubtful or maby teh person who DID make the site has access to the same blog in that student center website and saw the award (its inside the site BTW)
maby some one should ask the guy on linked in? also noticed some similar coding in both that mykindafuture website and the hexabot website too. (have a professional look at it its not anything major but some scripts and annotation are similar thought that was odd too…..)
also Brianne Fick is definately that womans name, i sent a contact request though another chanle just to check… no responce as of yet
also a side note any one who program’s AI, #1 does not call it ai, and he mentions nothing about what its even programmed IN RNN LMN what type of gradiant? …. anything to do with ai would have had SOME referance to the Structure OF it as its NEW, RELEVANT and would GIVE Nothing away about the actual performance OF the said “bot”
also “Peter” hates etherum ? All you people signed up on HEXABOT, who ahve talked to him know this right?
well why does his website tag it?
<meta name="keywords" content="bitcoin, litecoin, dash, ethereum,
right there?
few side notes for ya….
Wow. I don’t know who that guy is supposed to be? But it’s the same picture of someone who just friended me on Facebook named jack Paul. Didn’t have any friends or photos. He kept saying hi in messenger and I deleted him without responding. Where did that link come from? Very suspicious
I just started and have not invested any money yet. I’m waiting for a few more review, and then spend a few hundred.
23% of $100 = $23 *4wk = $92 without compounded interest.. This could get really huge after one year!!
I got my first payment yesterday 😀
There are some problems with your review.
First the bot doesn’t promise 22% per day, it’s per week.
Second Peter charges a fee to withdraw your principal (7%) which in my view does make it look more as not a scam.
AI is not an alarm bell, there are a lot of similar sites that trades regular stocks that uses AI to predict outcomes and they work very well.
Also Peter keeps a bit of the bots profits so if the bot would fail one week he would still be able to pay out the correct percentages.
Also banned accounts are accounts that has tried to cheat the system by signing up several people under their own affiliate link from the same computer, which is not allowed.
Thanks for pointing out the mistake. We’ve updated the mistyped “daily” to “weekly.” It doesn’t change anything though. This is still a massive scam.
Yeah, the 22/day thing was a typo. It is PER WEEK indeed. Corrected now. Don’t you act like that’s acceptable though lol. You’re saying 22% per week like that’s a reasonable figure. MAJOR SCAM RED FLAG.
2% per day, 7% per three days, 22% per week = SCAM.
AI IS an alarm bell. AI is artificial intelligence, usually denoting software capable of LEARNING and MAKING DECISIONS on its own, employing fuzzy logic and various feedback cycles.
There are auto-traders out there, legit ones, which simply automate the trading process set by the user. They have NOTHING to do with AI and they never promise fixed returns like your operation does, simply because it is IMPOSSIBLE to guarantee profits the way Hexabot does. That’s not how the market works. The AI angle is used to convince the gullible that there is something beyond their comprehension at work here. ANOTHER MAJOR RED FLAG.
Peter can twist and turn his withdrawal fees and “bot profits” the way he wants to. As long as he does not disclose the actual way his “bot” works, this is a SCAM.
sec.gov/investor/alerts/ia_virtualcurrencies.pdf – this is how the SEC defines a cryptocurrency scam. See how many of those points fit Hexabot to a T.
Also people: stop wasting your breath/time on the “Hexabot pays” angle. All crypto scams pay (at least those who want to be around for a few months) in the beginning. That means NOTHING, other than the fact that through your “investments” you are in fact aiding and abetting a scam.
Clearly none of you have signed up. the 22% a week is a different “bot”, different level of risk. For those on the fence, there are 3 different bots. 3 levels of risk. Essentially they pay 2%, 2.5%, and 3% per day.
It is auto trading btc price.
YOU CAN MAKE A LOSS.
Lets say, you have 1 btc, after 2 months, you might have 2 btc in your account. If the price of BTC has dropped by more then half, then yes, you have doubled your BTC, but made a loss.
The website is safe. The greatest risk is in owning BTC.
IF you have some BTC, or dash, or litecoin, throw it in for a bit if not, DO NOT BUY BTC. Risk of it halving is too high.
It’s hilarious that so many people think that 2% per day have to be scam. On average I make slightly more than 0.5% in the stock market every day, even without margin trading. It’s not really hard to believe that a bot can make 2% in a market that is so ridiculously volatile as the crypto market.
According to the dashboard the scalper bot makes about 0.085% per hour. At the current price of BTCUSD that’s not even a $8 move. BTCUSD usually moves far more than that within 1 minute. Sometimes it even takes less than 1 second to make a move greater than $10. And you think a bot can’t find a single opportunity within 1 hour to predict a $8 move?
Hi, Daniel.
Paul here from Ontario, Canada.
Thank you for your comment. It makes sense.
Kindest regards,
Paul.
Most recent scam that hurt millions was the D9 Clube of Sports Traders.
I too, got burned, but being an internet ‘infopreneur’ I learned from it.
Move on and watch out for the ‘trip wires.’
Why is 2% per day a SCAM: Look at coinmarketcap.com and you will see the binifits per day. Today it is 27/11/2017 and the first 6 coins (only Ripple is less) have much more than 2% profit:
1 Bitcoin $162.902.902.481 $9752.11 $6.368.050.000 16.704.375 BTC 8.05% sparkline
2 Ethereum $46.060.649.714 $479.87 $1.435.640.000 95.984.883 ETH 3.40% sparkline
3 Bitcoin Cash $28.084.353.924 $1669.21 $1.940.980.000 16.824.938 BCH 4.63% sparkline
4 Ripple $9.716.355.509 $0.251570 $187.647.000 38.622.870.411 XRP * 0.06% sparkline
5 Bitcoin Gold $6.007.158.026 $360.26 $153.113.000 16.674.461 BTG 4.80% sparkline
6 Litecoin $4.910.649.317 $90.91 $432.585.000 54.016.008 LTC 4.31%
It’s easier than that. The bot doesn’t need to catch a 2% move, it only needs to catch one tiny move per hour. It seems that it’s making about 0.08% per hour. Now watch the charts, 0.08% are often just a single tick. Any human can do that; pick a random hour and try it. It’s just that humans can’t be as consistent as a bot, they are affected by their emotions, greed, market comments, etc.
Also remember that cryptos are traded 24/7. You don’t need to worry about positions carried into the close and you’re not affected by gaps. That, in my opinion, makes it even easier for a bot to make consistent profits, it just has to follow some simple entry and exit rules. I have written quite a few trading bots for the stock market and the limited time per day, gaps produced by pre- and post-market trading or earnings were always the hardest things to take into account.
The only problem, the bot will run into, is the volume it needs to trade. Bots like HexaBot are the reason why BTC jumps so far with a single tick. This won’t scale forever, sooner or later HexaBot will have to decrease the expected profit. But with that said, it’s actually great to have so many people saying it’s SCAM, cause the fewer people put their money into HexaBot, the longer it will be able to keep the current profit levels.
Thank you for being the voice of reason
Hexabot pays, I was also skeptic at the beginning, but the developer behind this is very communicative and tries to add new features and respond to people inquiries quiet professionally. I have to give it credit as the payouts coming through and quickly too. There are allot of scams in this space, I think this is not one of them.
Ok, I was wrong, my friend just got his account locked by them and can’t withdraw his initial investment.
Are you able to provide proof?
Are you able to provide a screenshot? Or proof please?
Yo, this is important, please respond. It has been 2 days.
Hexa is legit. Members are able to communicate directly with the bot developer. Already tested and completed my first withdrawal.
Please email us the evidence. Thanks!
sent
Thank you. We will be in touch if we have any questions.
That doesn’t mean it’s legit….This system will likely work for 2 months max, then the owner, who lives in Panama, not the UK, will bail.
KWebb, Legit or not, I already got my 100% ROI back last week and have started to earn bitcoins every week….. i wish you had joined with me when i started so you can earn extra bitcoins everyday too.
Nice writeup! I’ve been testing out Hexabot for the past week and it DOES indeed pay. For those that want to see proof of payment, check out my full review here [link to affiliate site removed]
They lock your accounts ! careful scam!
U never proved that they lock accounts
that is not true. they don’t lock accounts. I just got my capital deposit withdrawn (minus 7% penalty charge). what i have left is the amount made from my profits. feel free to message me if you want snapshot proof.
Only reason they lock accounts is if you try to cheat the affiliate system.
if the user chat either started filling with complaints or disappeared completely i would start getting worried. if they were locking accounts for no reason people would be screaming about it there.
My account got locked too. Lost 3000 bucks
And did you try to cheat the system by adding people in your dowline from the same computer? That’s the only way to get banned. And if you got banned did you email support?
I think the problem is that I had opened another account before using my smartphone to check out their site, but I didn’t deposit anything there. This account is still accessible.
I contacted the support via email and I got this:
“Our System has detected multi account activity. May i ask for proof as a photographic image of you and the other person you referred to, with a sign saying “Hexabot.top”. You may send two separate photos. Peter will then take action ASAP”
I tried to explain what had happened and asked them what kind of procedure they exactly mean by sending them 2 different photos. They didn’t specify on that.
After insisting I got another email:
“Did you open the second account under your own referral from the first account ?
The answer was, that I opened each account without any referral.
On November 17th I got the last message:
“You should be able to reset your password if you didn’t open a second account under your referral. Did you register anyone under you referral in your house ?”
I wrote them that I definitely didn’t register anyone under my referral.
After that they stopped communicating I couldn’t coax out any further email of them
Why did they lock your account? Did you open a second account too, like me?
Hi, Heinriche.
You got screwed twice over with many other people.
Here are the steps in HYIP.:
Pre- Launch. (Best place to be)
Launch:
Globally through the Internet. (not a bad place to be for those with huge downlines).
It reaches the peak. Usually at 85% of company profits.
Oh Shit. We can’t pay anymore.
Let’s pretend that we have too many transactions and we have to modify our platforms.
Oh, Crap, It’s still too busy.
Send additional funds now!
We are almost there.
Be patient with us.
Then guess what?
Gone.
Paul Mindra.