The Bitharvest Ponzi scheme has collapsed.

Withdrawals have been disabled, plans to flee to Dubai have been revealed and there’s talk of an FTT token exit-scam.

BitHarvest is an MLM crypto Ponzi fronted by CEO Logan Lee, played by Singaporean national Steve Ng.

In addition to Ng, a team of Malaysian scammers headed up by Jaz Pee are the face of BitHarvest.

Signs of BitHarvest collapsing emerged earlier with the launch of two spinoff scams; BitBull and BitFarming.

At time of publication BitBull’s website’s has been disabled. BitFarming’s website is still up but SimilarWeb recorded no traffic over the past few months.

Earlier today a BehindMLM reader left a comment suggesting BitHarvest has disabled withdrawals;

BitHarvest has completely stopped paying its users and all withdrawals are currently non functional.

On top of that, the company is now saying that the boosters have become outdated because of the Bitcoin v30 Core update.

This situation is creating a lot of confusion because users were never informed that such a major change could affect daily payouts so suddenly.

BitHarvest has locked down most of its social media profiles but corroborating comments were left on a few FaceBook posts:

In the lead up to disabling withdrawals, on November 2nd BitHarvest announced cancellation of a marketing event in South Korea:

Three days later, on November 5th, BitHarvest announced it was relocating to Dubai.

Dubai is the MLM crime capital of the world. With non-existent financial regulation and limited extradition treaties, Dubai shelters criminals seeking to evade authorities.

Sometime after the Dubai announcement, BitHarvest disabled withdrawals. This coincided with BitHarvest’s official Telegram support account going dark the BitHarvest’s official YouTube channel being wiped:

On November 20th, “Desmond”, who cites himself as “Vice President of BitHarvest Academy”, announced an FTT token post-collapse exit-scam.

With USDT withdrawals disabled, BitHarvest’s collapse has predictably resulted in investors bagholding worthless BTH tokens.

Here’s how that’s going:

Of note is BTH appearing be abandoned by BitHarvest on or around September 9th. Daily trading volume plummets from this date, resulting in BTH dropping from 62.2 cents to 0.0000001997 cents today.

As explained by Desmond, BitHarvest’s post-collapse exit-scam will see worthless BTH tokens converted into a new worthless FTT token.

The plan is then to dump FTT onto new unsuspecting investors;

[4:39] We are creating our next step down the road, which is going to be a DAO.

DAO stands for “Decentralized Autonomous Organization”. Within the context of MLM, DAOs are typically used by scammers to hide centralized ownership of scams.

[5:29] DAO itself is going to be something where you’ll be able to participate, where you have BTH and USDT.

With that as the starting point, you will eventually be able to reach a final product that will be called FTT; Future Trade Token.

Future Trade Token is tied to a new baloney trading ruse in partnership with Ubit Exchange.

[7:00] We will have a certain kind of mechanism … in order for you to have a chance to earn in the futures market as well.

We have been training, we have been accumulating all of our traders from all around the country. All around the world itself, to make sure this is going to be functioning very, very well with our partner Ubit.

I should point out here that the only “Ubit” I’m aware of is the collapsed Ubit Exchange Boris CEO Ponzi scheme. It’s unclear whether the Chinese scammers behind Ubit Exchange are also behind BitHarvest.

[8:01] The collaboration between BitHarvest and also Ubit, we are also here to introduce to Ubit’s community, to Ubit’s people and trader, about BTH tokens as well.

Why? Because from there I’m pretty sure, we’ve already understand that we are looking at about seventy billion dollars worth of twenty-four transactional volumes … when it comes to the Ubit platform.

[8:51] So like I said. the example is this; I’m in BitHarvest [and] you’re in BitHarvest. If we both purchase BTH tokens and I sell it to you and you sell it to me, what’s the difference? The price will always be the same.

Now we’re getting secondary market and secondary individuals to join in on our platform, so that they will be our exit-liquidity.

And there it is. BitHarvest has run out of new investors and is hoping to dump worthless BTH, converted into worthless FTT, to Ubit Exchange users.

With respect to BitHarvest now being a collapsed Ponzi scheme, this is class carrot dangling 101.

Pretending BitHarvest hasn’t collapsed dissuades investor complaints to authorities and gives the scammers time to distance themselves (fleeing for Dubai and other hidey-holes, laundering stolen funds to make them difficult to trace etc.).

At time of collapse, SimilarWeb was tracking ~502,000 monthly BitHarvest website visits through October 2025.

Italy is the top source of BitHarvest website traffic (45%), followed by the US (28%) and Germany (9%).

Prior to collapse, BitHarvest received regulatory fraud warnings from California, Russia and the Netherlands.

California’s Desist and Refrain order cited Jan Gregory Cerato as an insider promoter of note.

At all relevant times, Jan Gregory Cerato (Cerato) is and was a BitHarvest promoter.

Cerato is a serial promoter of scams and was the subject of multiple enforcement actions issued by the Commissioner and other regulators: Cerato was the subject of three separate desist and refrain orders issued by the Commissioner in August 2023 for violations of the qualification and antifraud provisions of the CSL.

In the lead up to BitHarvest’s collapse, Cerato disappeared off social media on October 2nd.

Cerato has been defrauding consumers from Dubai after he received a tax fraud fine in Canada in 2022. Cerato had moved to Malaysia to promote BitHarvest, but is believed to have since cashed out and returned to Dubai.

 

Update 10th January 2026 – BitHarvest has rebooted as Harvest Plus.

 

Update 20th January 2026 – The November 2025 video featuring “Desmond” from BitHarvest has been marked private.

This article originally contained a link to the cited video, which has now been disabled.