The operators and owners of BitNest are unfortunately the same operators and owners that ran and scammed "Yunus Loop DeFi" in May 2024 (and earlier in Oct 2023), and are currently working on scamming BitNest users today. This site documents these facts.
Introduction
BitNest promises it's users tremendous profits -- up to 24% over 4 weeks.
And more, they promise their users that this very high yield is paid from the Interest paid by wealthy crypto Borrowers, willing to borrow over $100,000 USDT at over 350% APR! And they even promise that all of this can be fully verified on the public crypto blockchain!
What could possibly be wrong with this?
Two main things:
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The Interest income from Borrowers can NOT be verified (because it doesn't exist) -- and anyone asking for verification quickly finds themselves banned from the BitNest Telegram chat groups.
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And most importantly, it has now been proven that the operators/owners of BitNest are the same operators/owners of an earlier, nearly identical scheme called "Yunus Loop DeFi", in which the owners scammed their users first in October 2023 and then again in May 2024. (See More on Yunus below for more information on Yunus Loop DeFi.)
How do we know the BitNest owners are the same as the Yunus owners?
First, BitNest is nearly identical in design and setup to Yunus Loop DeFi, and the documentation is also nearly identical. Here is a LINK from archive.org to the old (now defunct) Yunus Loop DeFi website.
Second, if you dig into the old official Yunus Loop DeFi videos on YouTube, you will see that they are nearly all identical in overall design and structure to the official BitNest YouTube videos. Examples: official BitNest video and official Yunus Loop video.
Third, the wording and terminology used by the BitNest owners (e.g. "partner", "leasing", etc.) is also nearly identical to the wording and terminology used by the Yunus owners.
Finally, the launching of BitNest on the blockchain (May 2024) matches exactly when the final Yunus scam was completed.
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But couldn't these all just be coincidences, or a misunderstanding? Unfortunately, no. There is in fact a smoking gun.
The Smoking Gun
As it turns out, the old official "YUNUS Loop DeFi Channel" on Telegram (which has posts going back to 2022), was renamed as the "BITNEST Official Subscription Channel" on Telegram in April 2024 (just as Yunus was being rugged, and BitNest was being launched). As part of renaming and re-using the Telegram group, the BitNest owners went through and replaced the word "Yunus" with the word "BitNest".
Today, BitNest owners claim NO association whatsoever with Yunus Loop DeFi.
But unfortunately for them, they missed some instances of the word "Yunus" in their Telegram coverup.
And here is the proof. On June 9, 2025, the below screenshot was taken of the "BitNest Official Subscription Channel" on Telegram. Notice the use of the word "Yunus" in the last paragraph.
Since the above screenshot was taken, the BitNest owners discovered their mistake and have since replaced the above use of "Yunus" with "BitNest". Here is a screenshot, today, of the same location in the "BitNest Official Subscription Channel" ( https://t.me/BitNest_Channel ) -- notice that "Yunus" in last paragraph has now been replaced with "BitNest":
And this wasn't the only example. Here are several other instances where the BitNest owners missed replacing the word "Yunus" with "BitNest" (screenshots also on June 9, 2025):
And as they did in the earlier example, the BitNest owners have since fixed their mistake.
Why would the BitNest owners re-use the Yunus Telegram group?
When BitNest was first launched in May 2024, Yunus had just been scammed. And the BitNest owners wanted to distance themselves from Yunus, claiming that they had nothing to do with Yunus, and that BitNest started way back in 2022. And since they couldn't show anything BitNest-related prior to May 2024 on the blockchain, they wanted to be able to point to a public record of an official "BitNest Group" that had a 2022 date on it. And this old Yunus Telegram channel was the perfect fit. Notice the August 3, 2022 date in the below screenshot of the official BitNest Telegram group (screenshots were taken on June 9, 2025):
And if you scroll through the above current BitNest Official Subscription Channel on Telegram ( https://t.me/BitNest_Channel ), you will also notice that all of the entries prior to April 2024 have been "edited" -- which would have been where the BitNest owners replaced the word "Yunus" with "BitNest".
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CONCLUSION
Unfortunately, the above evidence proves that the BitNest owners are serial scammers. The BitNest owners first scammed the users of the Yunus Loop DeFi ponzi in Oct 2023, and then promising a refund, relaunched Yunus in early 2024 only to scam the users again in May 2024 (each time claiming a "hack"). No refund was given. The Yunus owners then disappeared, only to secretly re-emerge under different Telegram names as the BitNest owners, now actively running nearly the same ponzi on onsuspecting BitNest users.
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(For more information on the Yunus Loop DeFi scam, please see the More on Yunus section below.)
Cutting Through the Deceptions
With the above facts now known, it is worthwhile to dig into other areas of deception that the BitNest owners continue to disseminate.
CLAIM #1: At the very top of the BitNest website, in bold letters it shows "Liquidity" where it links to a PancakeSwap liquidity pool -- making it look like this is BitNest's "liquidity" of $30+ million.
TRUTH: The USDT/USDC liquidity pool that this links to is NOT owned by BitNest. It is the general purpose USDT/USDC liquidity pool on PancakeSwap that many projects and individuals use. The actual BitNest Liquidity Pool at PancakeSwap can be found at this LINK and this LINK. At the time of writing, it has about $5.4 million in liquidity (not nearly enough to pay the $40+ million in user funds that BitNest owes it's users.)
CLAIM #2: In their Telegram group(s), website and documents, the BitNest owners claim that their smart contracts are Certik audited and renounced. And therefore, all user funds are safe and the BitNest owners have no control over the smart contracts and the return of the user funds.
TRUTH: The reality is, once you give your funds to BitNest, the BitNest owners have full control over those funds. Only the smart contract that manages the BitNest Loop DEPOSITS has been Certik audited, and has been renounced. But the proxy contract which manages all WITHDRAWALS and RETURN OF FUNDS has not been audited or renounced. As a result, the BitNest owners can choose to not return funds to the users whenever they want.
CLAIM #3: The best proof that BitNest is legitimate is the fact that people have been getting paid for 3 years.
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TRUTH: First, the blockchain proves that BitNest has only been operating since May 2024. Second, there is no proof that BitNest has any external income other than from new users, and is therefore using the new users to pay old users. Making it a ponzi. (The exact numbers can be seen at this Dune page -- https://dune.com/bitsandbytes/bitnest -- which documents the daily income and outgo of BitNest.)
The reality is, the BitNest owners are only paying out as long as people keep putting money in.
When evidence is requested in Telegram that there are Borrowers and Interest, the questioner(s) are routinely banned.
And look how hard the BitNest owners -- "Brad Pitt" (fake) and his "Ambassadors" (Ronald, Peter, etc) -- are pushing people to compound and "build their 17 layer team". These are classic ponzi and MLM scamming techniques, and BitNest's growth is allowing these scammers to continue to profit from this ponzi.
And based on their past track record, they are willing and able to rug this ponzi whenever they choose (see Yunus Loop DeFi).
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More on Yunus Loop DeFi
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Some of the old Yunus Loop DeFi groups still exist in Telegram, and are publicly accessible, and many YouTube videos on Yunus also still exist. Most of the below facts have been gathered from these sources, as well as from speaking to old Yunus loop users in Telegram.
Yunus Loop DeFi was launched late 2022 (it’s nearly identical to Bitnest, but paid slightly higher rates over slightly shorter periods). It was a ponzi and was run on the TRON blockchain. The Yunus owners also claimed that their smart contracts were "unmodifiable" and pointed at an audit by Coinsult, to try to appear legitimate. Yunus owners also claimed that the Yunus system got its income from the interest paid by Borrowers.
The official Yunus Loop DeFi website, official YouTube videos and documentation are laughingly similar to BitNest. Most of these resources can still be found either directly on YouTube/Telegram, or using the Wayback Machine (archive.org).
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In October 2023, Yunus users suddenly stopped receiving their Yunus Loops back. The Yunus owners claimed it was hacked.
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A few months later, February/March 2024, the Yunus owners re-emerged, re-launching Yunus and promising refunds on May 20, 2024.
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Mid-May 2024 arrived, and the Yunus owners claimed another hack! And everyone's Loops were lost, and not returned. But the owners promised Yunus users that they would still get their refund on May 20, 2024.
The date came and went, and there were no refunds. The Yunus owners then disappeared. And so did the Yunus website.
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In April/May 2024, Bitnest was launched. The current Bitnest owners claim they have absolutely no association with Yunus, and that they started before Yunus. That Yunus is a copycat.
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Supporters sometimes point to the Bitnest Official Subscription Channel in Telegram, to prove the earlier start date.
But as documented above, it turns out that that official Bitnest Telegram group was just a re-use of an old Yunus Telegram group. And the Bitnest owners had gone through, and replaced the words “Yunus” with “Bitnest”.
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But as documented, they missed some. See The Smoking Gun section above, for the proof.
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Bottom line, the Bitnest owners are the same owners that ran and scammed Yunus users in 2023 and 2024. And they are now trying to hide that fact from everyone, as they run the same scam on unsuspecting BitNest users.