We Investigated Amondex: Legit or Scam? The Facts

Recently, Amondex.com website surfaced, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable proof that unmistakably reveals it is, in fact, a deceptive platform.

Despite the promises of the most convenient, trustworthy, and customer-centric service, Amondex.com does not fulfill any of them. All this is just a shiny wrap around a clear scam, which steals your funds and never returns them. Any stories about bonuses, backing from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Amondex Scam Overview

Originally, Amondex poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another notable marketing point for this platform is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, con actors employ AI-generated videos where those celebrities promote the fake crypto service as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a vivid wrap around an obvious scam.

Amondex Scam

First and foremost, Amondex shares the appearance of many similar websites. There are quite a few examples, like Mejag, Pendlebit or Zoxecoin. They are entirely undistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are identical. Probably, all these fraudulent sites are operated by a single group of swindrels.

Cryptocurrency Scam Summary

How the Amondex Scam Works?

Amondex is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the similar overall layout. Another shared element are the ways the scams like NAME are promoted, and the manner all this ends up to the victim of the scam. To reach peak efficiency, frauds apply sophisticated psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To start the scam, criminals set up and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Using bots and sponsored advertisements (when possible), fraud actors increase the presence of their scam activities to possible victims. And as I said, scammers do not disdain using generative AI for creating videos with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

Promotions of cryptoscams like Amondex in TikTok. Most of these videos are AI-generated deepfakes

Users receive a stimulus to enroll, attracted by the commitment of receiving cryptocurrency benefits valued at thousands of dollars, all free of charge. To enhance the attractiveness of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After following the promotions, targets end up on a page filled with appealing offers. “Crypto starts with Amondex”, “Your crypto savings are secured with Amondex, “Start earning with Amondex – they look rather credible. To heat up users and make them proceed to step 3, scammers say that getting the promoted bonus requires registration. And since nothing suspicious happens at this point, uninformed users happily keep on – especially as the bonus appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal info, frauds will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just said, deceivers bait folks into signing up to get bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Only by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. And this is what starts the final step of the scam.

Step 4: Requesting funds

Eventually, any crypto purchases require you to have capital on your account. With Amondex, users are also compelled to top up to get the bonuses. And this is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited capital and withdraw them.

This, however, is where the victim notices the problems. When keeping an eye on the actual cryptocurrency wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that scoundrels have 0 intentions to return your money. Though to make the denial look more realistic, they’ve developed a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what Know Your Client requirements say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal data, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your money back. And every check will share more and more information, which – you guessed it right – will be then marketed on the Darknet. Never reveal your real info to strangers!

Signs of Scam

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

• Cryptocurrency-Only Transactions. Amondex.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. Amondex 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. Amondex 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. Amondex 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%, Amondex capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Amondex.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Amondex 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further financial setbacks.

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 duration of the fraud, scoundrels may reach out to you with particular documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we earlier figured out, these rascals have no plan of restoring your capital. So, what do these messages and browser add-ons represent? Correct – that is another component of the scam designed to throw you into deliberately installing malicious applications onto your computer.

Both add-ons and files attached to email messages can serve as a carrier for diverse malicious code. In this scenario, I expect the presence of spyware and stealers among other types of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always above zero. As previously mentioned, their conscience is of negligible importance, and their dignity is already severely tarnished. They have no principles to give up and intend to maximize gains.

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