Bitgert purports to be the next big thing in the crypto space, but legitimacy concerns persist
Contents
- Is Bitgert’s audit service legitimate?
- Is the BitRise charity legitimate?
- Bitgert’s online presence
- Do any exchanges list BRISE?
Bitgert, built on the Binance blockchain, claims to be a staking platform and decentralised exchange (DEX) alternative to Pancakeswap, operable through its Android and AppStore (BETA) application. BRISE coin is the native cryptocurrency of Bitgert.
What is Bitgert coin used for, you ask? According to Bitgert, the “BRISE DApp Wallet is a multi-coin wallet app that allows you to send/receive/store/swap various cryptocurrencies safely.” Bitgert claims to donate 5% in transaction fees to a buy-back scheme to deflate circulation, 3% to marketing purposes, and 4% to staking rewards.
Questions surround the ownership structure and operating procedures of Bitgert. In this article we tackle these questions and search for some answers.
Is Bitgert’s audit service legitimate?
In an act of self-congratulatory appraisal, the BRISE cryptocurrency undertook an audit performed by… Bitgert. The audit, available here, suggests that all manual code, contract functions, owner privileges, rug-proofing and liquidity were checked. However no genuine links are provided to verify this.
In terms of these audits, one of the company’s main advertised offerings, how does Bitgert work? The “BitRise Audit” platform seemingly allows any and all cryptocurrency projects to request a blockchain audit, delivered within 48 hours free of charge. No parameters regarding the metrics used are disclosed.
Suspiciously, all audits posted by BitRise Audit present nearly identical security ratings and other audits details, which can be compared here.
Is the BitRise charity legitimate?
Bitgert’s BitRise charity supposedly donates proceeds to various hunger-relief and education programmes, although further details than that are scarce. The official website does not outline any affiliates, charity numbers or an action plan. Reverse image searches show that visual assets are stock photos.
Few philanthropically-minded individuals seem to have donated to the charity. The donation address has only logged two inbound transactions over its lifespan.
Dzengi.com recommends conducting thorough due diligence before donating to lesser-known charitable organisations.
Bitgert’s online presence
Due to the lack of contact details available through the website, Dzengi.com reached out to Bitgert through its official social media channels. A message posted on Bitgert’s official Telegram page requesting further details regarding Bitgert’s operations, auditing procedure and ownership model was met by a swift block. This raises the question: what is Bitgert (BRISE) hiding?
Comment has been requested over Bitgert’s official Twitter page. Having only registered in July 2021, Bitgert amassed 66,000 followers while only following two: Elon Musk and Binance’s CEO. While posting activity is regular, many posts seem to be begging for exchange listings of the Bitgert cryptocurrency.
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Furthermore, multiple replies under each post tend to be identical, suggesting bot activity.
Bitgert’s official website lists a supposed development team. All names and roles were cross-checked on LinkedIn, though no matching profiles could be found. Furthermore, certain aspects of the team’s profile pictures (seen below) suggests that they could be computer generated. The blurry indecipherable background on “Dominick Rodgers” is a strong red flag. These visual glitches are a main sign of AI-generated profiles, according to analysis by coder and visual artist Kyle McDonald.
McDonald told Currency: "I believe they are GAN images. Major hints are the 'brick' background in the first picture, the messy forehead hair quality in the second (and teeth). Also, Pellio has a longer ear on one side which appears to have an earring, but not in the other ear. Asymmetry is a common problem. I expect these were generated with StyleGAN3."
Additionally, “Alexeeva” is a feminine name in the Russian lexicon, derived from the masculine “Alexeyev.” The facial parameters of “Pellio Homullus” were input into generated.photo. The results can be observed here.
The bitgert.com domain name was cross referenced using lookup.icann.org. Bitgert seemingly uses the Withheld for Privacy (WFP) service, although domain details are seemingly pulled straight from WFP’s generic example presented on the homepage, suggesting that Bitgert (BRISE) does not actually pay for this service. Amusingly or perversely, depending on your point of view, the given postcode matches that of the Icelandic Phallological Museum, which houses the world's largest display of penises and penile parts.
Queries were also posted on Bitgert’s official Reddit page, which only allows posts by moderator approval. Approval remains pending.
The webpage does have a chat function, but whether this is an automated service or a genuine representative is unclear. A request for comment brought the following reply: “Audits are done manually by technical (sic) team and the way of representation might look same (sic) because the format wont (sic) change for each project.
“The team members choose not to reveal much more info for their own privacy reasons. For example, Its (sic) an individual's choice to whether or not share any further information about their personal professional self.”
Do any exchanges list BRISE?
Apart from the Pancakeswap DEX, the Seychelles-registered MEXC is the primary cryptocurrency exchange offering the BRISE/USDT pair. According to Coin Market Cap, MEXC warrants an exchange score of 5.8/10. A total of 1,015 assets are available on MEXC, suggesting a low barrier of entry.
Going by Coin Market Cap’s metrics, BRISE coin has a liquidity rating (LR) of 160/1000, significantly below a healthy rating of 700+. The depth chart below displays BRISE’s overwhelming sell pressure, potentially due to coin dumping.
Other exchanges include LBank (LR of 174), XT.com (LR of 73) and BitMart (LR of 120).
It is unclear how many BRISE are in circulation. Coin Market Cap’s figure stands at 428 trillion, but this is a self-reported figure. Maximum supply is believed to be one quadrillion.
It is unclear who created Bitgert. Team member names and profiles cannot be determined as legitimate, and no contact details are made available. Users are blocked if such information is requested on Telegram. Domain name details are also hidden.
There are many red flags arising from the Bitgert project, including potentially false team member information and audits, lack of transparency, and social media criticism.
