TrustBet Review: Scam Or Legit? | Recover Lost Funds

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Is TrustBet a scam? How to recover funds from TrustBet? Find the answers to all these questions and more in this guide.


TrustBet has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Barnaje. We’ve received over 5 complaints against TrustBet.

TrustBet’s lack of ownership transparency, ties to Merobit’s fraudulent activities, and questionable MLM bitcoin model all point to a dishonest corporation. TrustBet, which is unregulated and lacks a watchdog or license, poses financial dangers similar to those associated with Ponzi schemes. Victims face difficulties due to a lack of regulatory oversight. Before collaborating with a company, always verify its regulatory status, leadership transparency, and licensing. TrustBet’s investing strategy, paired with the danger of false evaluations, emphasizes the significance of remaining vigilant. If you see fraud, report it to a Whistleblower Program and use chargebacks to retrieve payments.

Get Your Money Back From These Scammers!


Key Takeaways

TrustBet has lost investors thousands of dollars
TrustBet website owner is anonymous
Vague terms of service

Is TrustBet Regulated? Do They Have a License?

The lack of information about ownership or executives on TrustBet’s website raises issues about the company’s openness and credibility. The platform, which was secretly registered on November 8th, 2023, under the domain “,” aims to build credibility by identifying itself as TrustBetIO LTD, a UK-incorporated company.

TrustBet’s credibility as an MLM cryptocurrency opportunity is further challenged by the fact that the UK’s Financial Conduct Authority (FCA) officially barred MLM cryptocurrency investment schemes on October 8th, 2023.

TrustBet’s official marketing materials identify the founder and CEO as “Paul Cassar.” However, an examination finds that Paul Cassar and Manny Stalomn, who are reportedly linked with TrustBet, do not exist.

MeroBit, another MLM crypto Ponzi fraud, has the same website template as TrustBet, raising suspicions of a connection between the two. Notably, the FCA issued a securities fraud warning to Merobit on November 30th, 2023, but TrustBet appears to have avoided their inspection thus far.

The issue remains as to whether the perpetrators of the Merobit/TrustBet schemes have established further fraudulent operations.

Homepage of TrustBet

The lack of regulation or the presence of poor regulation is a huge red flag. It means TrustBet is a scam and most likely, an illegal operation.

Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.

That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.

In the case of TrustBet, victims have nowhere to go due to the absence of a watchdog or license.

You should ask yourself the following questions when you come across a new investment firm or opportunity:

  • Does the investment provider maintain transparency about its CEO?
  • Do they have a license from a renowned regulatory authority?
  • If the need arises, can I reach out to an authority to report this company as a scam?

Trading Conditions and Deposit/Withdrawal Methods at TrustBet

TrustBet does not offer any actual retail products or services for affiliates to promote. Affiliates’ main objective is to promote TrustBet’s own affiliate membership.

TrustBet affiliates invest in bitcoin as part of their incentive plan. The investments offer promised returns depending on multiple tiers:

  • Starter: Invest $25 or more and get a 5% daily return for 30 days.
  • Premium: Invest $2500 or more and get a 6% daily return for 40 days.

It is vital to remember that if a TrustBet affiliate decides to withdraw before the specified 30 or 40 days, a 20% withdrawal fee will apply.

Referral commissions at TrustBet are distributed on invested bitcoin across three stages of recruiting using a unilevel system:

  • Level 1 (personally recruited affiliates): 5%.
  • Level 2: 2%.
  • Level 3: 1%.

Becoming a TrustBet affiliate is free, however, to effectively benefit from the revenue opportunities, a minimum investment of $25 is required. TrustBet encourages investing in multiple cryptocurrencies.

However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.

They might give you multiple reasons including:

  • A technical error
  • A glitch in their system
  • Banking issues
  • A “hacking attack”

And many others.

But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.

If you want to get your money back from a scammer, you’d need to file a chargeback.


TrustBet Customer Service: Do They Handle Complaints Well?

When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.

In the beginning, scammers tend to remain very accessible.

This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.

However, they do all this just to win your trust.

Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.

Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.

All of a sudden, their numbers would either stop responding or become unavailable.

Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.

However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.

Join The Whistleblower Program

If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.


TrustBet Reviews: What Do Others Say?

It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.

Scammers like TrustBet tend to purchase fake reviews for their online profiles to make themselves seem more credible.

TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.

That’s why you shouldn’t trust TrustBet reviews easily.

It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.

In the case of TrustBet, chances are, you wouldn’t find many legitimate reviews.

Another prominent way scammers like TrustBet enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.

This way, when you’ll look up “TrustBet reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising TrustBet.

TrustBet reviews coverage

You should always look out for consumer complaints. In the case of TrustBet, the most common complaints I found were about:

  • Poor customer support
  • Delays in payments
  • High fees and charges
  • Lack of transparency regarding their leadership team
  • Aggressive sales staff

Do you have a similar complaint about TrustBet? You can share your complaint in the comment section or submit an anonymous tip.


Is TrustBet Legit Or Scam?

TrustBet disguises its Ponzi scheme as “asset management tailored for the ambitious investor.” However, given its similarity to Merobit, which is orchestrated by the same unscrupulous persons, this assertion is blatantly misleading.

TrustBet, like all MLM Ponzi schemes, relies on ongoing affiliate recruiting, which, when declining, results in a reduction in new investments. As a result, this depletion of money will deprive TrustBet of the revenue required to meet promised returns, inevitably leading to a collapse.

Ponzi schemes have inherent arithmetic, which means that when they collapse, the majority of participants suffer financial losses. TrustBet’s shaky model poses a huge danger to those participating.

TrustBet is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.

The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind TrustBet can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.

The absence of a watchdog also means you cannot report to them to anyone.

Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.

Can You Trust TrustBet?

All the evidence suggests that TrustBet is a scam. If you have lost money to them, there is still a chance you can get it back.

To recover your funds, you’d need to file a chargeback.


Frequently Asked Questions

Is TrustBet a scam?

According to the online reviews of this company, it’s highly probable that TrustBet is a scam. You should exercise caution when dealing with them.

Can I withdraw money from TrustBet?

Yes, you can withdraw your funds from TrustBet by getting in touch with one our experts. Get your money back immediately.

Where is TrustBet Located?

There is no information available on the location of TrustBet.

How do I get my money back from TrustBet?

To get your money back from TrustBet, you can file a chargeback. Learn more here.

How The TrustBet Online Scam Works

Launch a website/app with a generic name

A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.

Pay influencers & social media pages to promote the scheme

By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.

Send thousands of emails and make cold calls to potential victims

It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.

Make victims feel safe through “small wins”

Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.

Convince victims into investing large sums of money

Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.

Disable withdrawals & take down the website/app

Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.

Repeat the cycle

After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.

Get Your Money Back Free consultation
If you’ve lost money with TrustBet, we can help you get your funds back. Schedule a free consultation with our team of experts and we will have a look.
An expert will get in touch with you within 48 hours.
TrustBet Review: Scam Or Legit? | Recover Lost Funds
TrustBet Review: Scam Or Legit? | Recover Lost Funds


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