Beastox Reviewed: Legit or Total Ripoff? Read This First

Recently, Beastox.com site popped up, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable proof that unmistakably confirms it is, in fact, a scam platform.

Despite the promises of the most convenient, dependable, and customer-centric service, Beastox.com does not offer any of them. All this is just a shiny wrap around a blatant scam, which steals your money and never returns them. Any tales about gifts, backing from celebrities etc are non-existent as well.

Beastox Scam Overview

Originally, Beastox poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another highlighted marketing point for this site is backing from celebrities that are known in 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 deepfake videos where those celebrities advertise the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

Beastox Scam

Initially, Beastox repeats the design of multiple equivalent websites. There are quite a few examples, like Relybit, Expressboostoption or Ethktb. They are completely indistinguishable in terms of visual elements, with minor discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are the same. Presumably, all these deceptive online platforms are operated by a single group of frauds.

Cryptocurrency Scam Summary

How the Beastox Scam Works?

Beastox is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use various website designs, which still share the similar overall layout. Another common 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 authenticity 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 well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and sponsored ads (when achievable), fraud actors increase the exposure of their fraudulent activities to possible victims. And as I said, crooks do not disdain using generative AI for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users receive an incentive to enroll, attracted by the commitment of obtaining cryptocurrency benefits valued at thousands of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After clicking the promotions, users end up on a page filled with appealing offers. “Crypto starts with Beastox”, “Your crypto savings are secured with Beastox, “Start earning with Beastox – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that claiming the pledged bonus requires registration. And as nothing concerning happens at this point, unaware users happily move on – especially as the reward appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal information, rascals will not be able to 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 into signing up to get bonuses. And all the personal data needed for it – email, username, crypto wallet address – are valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the alleged bonus right away. To make at least crypto purchases on the platform with it, 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

It is obvious that any crypto operations require having funds on your account. With Beastox, users are also coerced to top up to claim the bonuses. And this is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the transferred capital and withdraw them.

This is where the victim notices the issues. When keeping an eye on the actual crypto wallet vs what the site says, you can spot 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

Needless to say that swindlers are naught on intentions to give your money back. But to make the denial look more realistic, they’ve crafted a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what KYC regulations say, but for the Beastox.com they are here exclusively to make the wireout impossible.

By asking for your personal info, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your grand back. And every check will share more and more info of yours, which – you guessed it right – will be then traded 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 Beastox.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Beastox does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Beastox like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Beastox, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Beastox is a definite scam.

What Should I do as a Victim?

If you had to deal with Beastox 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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, its actors may get in touch with you with specific documents. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we earlier determined, these scammers have no plan of giving back your money. So, what do these messages and browser add-ons represent? You guessed it right – this is another side of the deceptive plan designed to entice you into willingly installing destructive software onto your system.

Both plugins and attachments included to email messages can serve as a carrier for different malicious code. In this scenario, I expect the presence of spyware and stealers among all forms of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As stated, their morality is of negligible importance, and their reputation is already neck deep in mud. They have no principles to lose and aim to maximize gains.

Frequently asked questions