Qbit and Bytechip Fraud Litigation

On March 14, 2025, a proposed class action lawsuit was filed in the U.S. District Court for the Northern District of California (Case No. 5:25-cv-02565) against UAB Qbit Financial Service, Bytechip LLC, and their CEO, Yujun Wu. The complaint alleged the defendants were involved in a “pig butchering” cryptocurrency scam that defrauded victims of approximately $28 million between March and June 2024. According to the lawsuit, scammers contacted individuals through social media and messaging platforms, built trust, and lured them into transferring cryptocurrency to fake investment platforms. The lead plaintiff, an Alabama resident, reportedly transferred over $90,000 under the guise of part-time work and investment opportunities. Forensic analysis by Inca Digital allegedly traced the funds to wallets associated with the defendants. However, on June 13, 2025, the case was jointly dismissed with prejudice by both parties, meaning it is permanently closed and cannot be refiled. No findings of liability or wrongdoing were made against UAB Qbit Financial Service, Bytechip LLC, or Yujun Wu.