Bitcoin Laboratory Scam Review

January 15, 2017 logo

1. What is BTCLab?

BitCoin Laboratory claims to be a bitcoin mining and investment company. Its website,, allows any internet user to invest any amount for a return of 3.6% per day.

The company claims to use latest bitcoin mining cutting-edge technology to generate extraordinary returns for investors.

However, in reality, Bitcoin Laboratory is a scam disguised as a bitcoin mining company. The website owner has put in an extraordinary effort to make the website look like a real bitcoin mining and investment company.

2. How Does BTCLab work?

BTC Lab works like any other scam, you register, deposit funds into the account, then buy hashing power to start mining bitcoins. The minimum deposit amount is 0.001 btc.

As you are mining bitcoins, the system will accrue bitcoins into your account at a rate of 0.15% per hour, which is equivalent to 3.6% per day. Once you have accumulated enough bitcoins in your account, you can withdraw them at any time.

3. Who Owns BTC Lab?

The website does not state who owns the so called company.

However, according to the Companies House, BTC Lab is registered to Dwayne Taylor. This name also appears in the domain name registration data.

Nevertheless, in reality, the name is not useful at all because there are hundreds of other people named Dwayne Taylor who appear in Google search results.

If the owner was not hiding his real identity, he would have provided his Linkedin profile or Facebook account to enable us to access his background information.

Finally, I do not attach any weight to the company apparent office location at 21 Primrose Street, Broadgate, London.

Broadgate Towers

Broadgate Tower is an office and shopping complex, therefore anyone can claim to own offices there. Even if the company has an office in London, it does not make things legit as any scammer can hire a small block of office space.


4. Is BTC Lab legit?

No, of course not. It is not legit at all. My guess is that more than 95% of BTC Lab investors know very well that the company is fake. They are hoping to make a quick buck before the website shuts down.

I wrote the BTC Lab scam review to warn potential investors who think Bitcoin Laboratory is a real deal. If you read this post on how to review online scams, it becomes apparent that BTC Lab is just a Ponzi scheme.

I will mention a few factors which are a giveaway to a scam. BTC Lab essentially promises guaranteed profits to investors, and assure them the risk of losing their money is virtually non-existent. In reality, high returns goes hand in hand with high risks. Any company promising extremely high returns, but no risk to capital is a scam.

What is even more laughable about false promises made by BTC Lab is the crazy return of 3.6% per day, which amounts to a return of more than 100% per month.

Ask yourself this question; if your company could generate 100% profit per month, would you go around trying to share the profits with a bunch of strangers on the internet? Of course not.

Therefore, the high rate of return is enough to confirm that BTC Lab is a Ponzi scam, no further investigation is required.

I know some newbies might say, “but BTC Lab is registered with the Companies House, plus it will provide debt cards to its investors.”

Well, registration with Companies House means nothings as many of the previous scam programs such as HashOcean, Coince and Forex Paradise were registered with Companies House.

As for the debit card, forget about it, you will never hold it your hands as it is a false promise. All scam programs who mean business use the debit card promise to legitimise their business and create a false sense of trust and security to investors.

5. Conclusion




The creators of BTC Lab have invested a lot of time and money to make their fake bitcoin mining and investment business look legit. This suggests the owners are experienced in this bitcoin scam business, and are probably the previous owners of extremely successfull Ponzi schemes such as Hashocean, Bitknock or Forex Paradise, which scammed investors a lot of money.

Avoid all bitcoin mining or investment companies, and rather buy bitcoins from your local bitcoins exchange such as Luno. Alternative, empower yourself with knowledge by registering for a cheap bitcoin course at Udemy.

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Bitcoin Lab is a big scam! I put 0.2234btc in there as principal on 30th Dec. 2016, on weds last week 11th Jan. 2017, I made a request and I never got my money, all e-mails to them fell on blind eyes. I am yet to get my money back, a call to the fake phone number on there website no response at all.

Please stay away from them!


    Thank you for helping get the word out there Chris. I am sure your comment will convince a few people who doubt my scam review.


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