We Investigated BEASTMER: Legit or Scam? The Facts

Recently, Beastmer.com site surfaced, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather reliable supporting information that clearly reveals it is, actually, a fraudulent service.

Despite the promises of the most convenient, reliable, and client-friendly service, Beastmer.com does not fulfill any of them. All this is just a gilded wrap around a blatant scam, which steals your money and data and never returns them. Any tales about gifts, backing from celebrities etc are absent as well.

BEASTMER Scam Overview

Originally, BEASTMER poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another notable selling point for this service is partnerships with celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, rascals employ deepfake videos with those celebs promote the fraud as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a vivid wrap around an obvious scam.

BEASTMER Scam

To begin with, BEASTMER repeats the design of numerous equivalent websites. There are quite a few examples, like Ltdbitcoin, Bybitcrypt or Bitswifter. They are completely identical in terms of graphic elements, with small discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these fraudulent sites are operated by the same group of frauds.

Cryptocurrency Scam Summary

How the BEASTMER Scam Works?

BEASTMER is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use numerous website designs, which still share the same 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 advanced psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals set up and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Utilizing bots and sponsored promotions (when achievable), scam actors increase the presence of their fraudulent activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the mentioned celebs that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.

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

Step 2: Gaining Traffic

After clicking the promos, users end up on a page filled with appealing offers. “Crypto starts with BEASTMER”, “Your crypto savings are secured with BEASTMER, “Start earning with BEASTMER – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that obtaining the promised bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily keep on – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal info, crooks will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks for registration with bonuses. And all the personal information needed for it – email, username, crypto wallet address – are valuable for user identification. Solely by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the claimed bonus right away. To make it at least usable for cryptocurrency purchases, the user should 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

Obviously, any cryptocurrency operations require you to have money on your account. In the case of BEASTMER, users are also compelled to top up to get the bonuses. And this is what creates the majority of the cash 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 participating on this site hoping to use all the transferred money and withdraw them.

This, however, is where the first obvious problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that fraudsters have zero intentions to give your money back. But to make it look more realistic, they’ve made up a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC regulations say, but for the Beastmer.com they are here only to make the withdrawal impossible.

By requesting your personal info, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your funds back. And each of these checks will uncover 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 Beastmer.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. BEASTMER employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, BEASTMER exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying BEASTMER as a scam.
• Dubious Corporate Information. BEASTMER arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Beastmer.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. BEASTMER utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with BEASTMER 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 timeline of the fraud, fraudsters may contact you with specific files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we earlier figured out, these scammers have no intention of returning your money. So, what do these messages and browser add-ons represent? You guessed it right – that is another element of the deceptive plan designed to entice you into deliberately installing malicious programs onto your computer.

Both plugins and files included to email messages can act as a carrier for various malicious code. In this situation, I expect the presence of spyware and stealers among other forms of malware. While it is not mandatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their conscience is of little concern, and their reputation is already seriously marred. They have nothing to lose and strive to maximize profits.

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