We Investigated Beastxly: Legit or Scam? The Facts

Recently, Beastxly.com service popped up, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible proof that unmistakably confirms it is, in truth, a fraudulent platform.

Regardless of the promises of the most convenient, trustworthy, and client-friendly service, Beastxly.com does not offer any of them. In fact, all this is just a shiny wrap around a blatant scam, which steals your money and never gives them back. Any tales about gifts, sponsorship from celebrities etc are nowhere to be found as well.

Beastxly Scam Overview

Originally, Beastxly poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another notable selling point for this service is partnerships with celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, frauds employ deepfake videos where those celebrities promote the scam as the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around an obvious scam.

Beastxly Scam

To begin with, Beastxly copies the appearance of numerous equivalent pages. There are quite a few examples, like Tradeplex, Ramidex or Mababit. They are entirely indistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are the same. Presumably, all these scam online platforms are led by the same team of frauds.

Cryptocurrency Scam Summary

How the Beastxly Scam Works?

Beastxly is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use numerous 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 complex 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 scam, criminals create and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and sponsored advertisements (when possible), fraud actors intensify the exposure of their scam activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the aforementioned celebrities that promote 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 Beastxly in TikTok. Most of these videos are AI-generated deepfakes

Users get a stimulus to enroll, enticed by the assurance of getting cryptocurrency benefits valued at thousands of dollars, all without cost. To enhance the attractiveness of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After following the ads, targets end up on a page filled with enticing offers. “Crypto starts with Beastxly”, “Your crypto savings are secured with Beastxly, “Start earning with Beastxly – they look rather reliable. To heat up users and make them proceed to step 3, fraudsters say that obtaining the promoted bonus requires registration. And since nothing suspicious happens at this point, unexperienced 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 steer away from the scam without any losses. Before you sign up using your personal data, swindrels will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, deceivers bait folks into signing up to get bonuses. And all the personal information needed for it – email, username, crypto wallet address – are valuable for user identification. Only by gathering this data 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 it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. And this is what starts the final stage of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require having funds on your account. In the case of Beastxly, users are also compelled to top up to get the bonuses. And this is what creates most 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 deposited money and withdraw them.

This, however, is where the first obvious issues start to surface. When keeping an eye on the real crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw 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 swindlers are naught on intentions to give your money back. But to make the fraud look more realistic, they’ve crafted a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client regulations say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for your personal data, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your money back. And every check will uncover more and more info of yours, which – you guessed it right – will be then sold 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 Beastxly.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Beastxly 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%, Beastxly exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Beastxly as a scam.
• Dubious Corporate Information. Beastxly 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. Beastxly.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. Beastxly 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 Beastxly 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 timeline of the fraud, its actors may get in touch with you with specific files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto savings. As we already determined, these rascals have no intention of giving back your money. So, what can these emails and browser plugins represent? Correct – that is another side of the deceptive plan designed to throw you into deliberately installing malicious software onto your computer.

Both add-ons and attachments attached to emails can serve as a shell for various malware. In this case, I expect the presence of spyware and stealers among other forms of threats. While it is not obligatory for scammers to distribute malware, the chance is always significant. As stated, their morality is of negligible importance, and their dignity is already severely tarnished. They have nothing to lose and intend to maximize profits.

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