Is Abubit Legit or Another Scam? The Truth Revealed

Recently, Abubit.com service popped up, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable proof that unmistakably confirms it is, actually, a fraudulent site.

Despite what Abubit site states, they won’t ever return your funds. Despite the figures displayed in the “member area”, there is absolutely no means to retrieve even a single cent. All pledges regarding crypto rewards are empty as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

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Abubit Scam Overview

The key offering that Abubit strives to provide is a secure and convenient cryptocurrency wallet service. The site promises crypto exchange services, tools for controlling wallets, transfers, dashboards, and the like. In fact, they aim to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it actually solely serves as a shell intended to deceive the cautious.

Abubit Scam

To begin with, Abubit mimics the layout of multiple equivalent online platforms. There are quite a few examples, like Btcxgrp, Coinkoy or Swapexo. They are totally identical in terms of graphic elements, with small discrepancies in the site header. Other particulars, and sometimes even crypto wallet addresses, are identical. Probably, all these fraudulent websites are led by a single gang of scammers.

Cryptocurrency Scam Summary

How the Abubit Scam Works?

Abubit is yet another website within a extensive network of associated crypto scam webpages. The operators employ various brand titles and sites, like Abubit.com, to ensnare victims. However, these fraudulent sites possess the same designs, terms of service, and About Us content. This reveals their beginnings as a part of the identical fraudulent network, which promotes the identical form of scam under diverse disguises. The fraudsters merely replicate the equal scam website under diverse names to mislead users into believing they are participating in a new opportunity. However, in actuality, it’s the same system of swindlers orchestrating the misleading promises and attempts to take deposited cryptocurrency. The administrators skillfully make use of psychological tactics and captivating propositions to implement their deceitful schemes.

Step 1: Spreading

To begin the scam, criminals establish and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Employing bots and paid advertisements (when feasible), fraud actors boost the visibility of their scam activities to possible victims. This strategy permits them to create a broad net and engage with their aimed audience. The audience commonly comprises of cryptocurrency fans looking for prospects to make profits.

Users receive an encouragement to enroll, attracted by the promise of receiving crypto benefits valued at thousands of dollars, all for free. To enhance the attractiveness of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

People who demonstrate interest check out Abubit.com via links present in ads or bot-generated posts. The webpage employs captivating visuals, design features that appear genuine, and claims of possessing a official license, all intended to present an initial perception of reliability.

Step 3: Data Gathering

To claim their rewards, users must deliberately set up an profile on Abubit and receive instructions to provide sensitive and private data throughout the sign-up procedure. This includes linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, sending in identification papers, and the like.

Step 4: Requesting funds

Once registered, users witness significant amounts of cryptocurrency, valued at thousands of dollars, within their Abubit wallets. However, as is common with such bonuses, you can’t withdraw them prior to making a deposit. Usually, a payment of $100 is required to access the sign-up bonus. This stipulation serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

The point in time the funds transfer is made, the scammers terminate all communication. They go ahead to block users, remove accounts, and vanish with both the submitted capital and critical personal data. The fictitious benefits remain perpetually uncredited, as they lack genuine existence. They function purely as a fraudulent ploy. This approach forms the foundation for the fraudsters’ capability to mislead victims and embezzle hard-earned earnings through their duplicative internet-based crypto fraud.

Signs of Scam

I gathered several facts that point at the scammy nature of the Abubit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Abubit.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Abubit arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Abubit resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Abubit employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Abubit capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Abubit.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Abubit site and fell victim to that scam, there are still some steps to take. They will make further scam attempts harder, and also boost the knowledge about that scam among folks.

• Report the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

Scan your system for possible malware infections

Beware of cross scams! Scam actors can use your trust to make you download some stuff or interact with certain documents. It may be a trap that installs malware to your system. There are no moral barriers or limits for these scoundrels.

Throughout the course of the scam, its actors may get in touch with you with specific files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we previously figured out, these scoundrels have no plan of returning your money. So, what do these emails and browser add-ons represent? You guessed it right – this is another element of the fraudulent scheme designed to throw you into deliberately installing malicious software onto your device.

Both extensions and files added to emails can act as a carrier for various malicious code. In this situation, I expect the presence of spyware and stealers among all kinds of threats. While it is not mandatory for scammers to distribute malware, the chance is always existent. As previously mentioned, their morality is of little concern, and their reputation is already severely tarnished. They have no scruples to lose and strive to boost profits.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Abubit

Name: Abubit

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Abubit, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Abubit scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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