We Looked at the Evidence: Is Beenbit Legit or Scam?

Recently, Beenbit.net service surfaced, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable supporting information that clearly confirms it is, in truth, a scam site.

Despite the promises of the most user-friendly, reliable, and customer-centric service, Beenbit.net does not offer any of them. In fact, all this is just a golden wrap around a blatant scam, which steals your money and data and never returns them. Any stories about gifts, sponsorship from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Beenbit Scam Overview

Originally, Beenbit poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another bright marketing point for this service is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, con actors use deepfake videos with those celebs promote the fraud as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.

Beenbit Scam

To begin with, Beenbit repeats the appearance of multiple similar online platforms. There are quite a few examples, like Ojybit, Muricabit or Menorex. They are entirely identical in terms of graphic elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are the same. Presumably, all these scam online platforms are operated by a single team of frauds.

Cryptocurrency Scam Summary

How the Beenbit Scam Works?

Beenbit is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the similar overall layout. Another mutual 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 begin the scam, criminals create and fill accounts on popular social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and paid advertisements (when feasible), fraud actors increase the presence of their deceptive activities to potential victims. And as I said, fraudsters do not shy away using deepfake for creating videos with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

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

Users receive an encouragement to register, enticed by the promise of receiving crypto prizes valued at hundreds of dollars, all for free. To enhance the attractiveness of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon following the promos, users end up on a page filled with enticing offers. “Crypto starts with Beenbit”, “Your crypto savings are secured with Beenbit, “Start earning with Beenbit – they look rather authoritative. To heat up the interest and make the users proceed to step 3, scammers say that obtaining the pledged bonus requires registration. And as nothing questionable happens at this point, uninformed users happily proceed – especially since the gift appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you sign up using your personal information, frauds 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, deceivers bait folks into signing up for bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Exclusively 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, the claimed 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 equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto operations require having funds on your account. With Beenbit, users are also coerced to top up to get the bonuses. And these top ups is what creates the majority of the money 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 funds and withdraw them.

This, however, is where the issues start to surface. When comparing the real cryptocurrency wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to pull out the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that fraudsters have no intentions to send you money. But to make it look more realistic, they’ve crafted a whole bunch of reasons to decline the wireout request. Most of them repeat what Know Your Client requirements say, but in this case they are here only to make the wireout impossible.

By asking for your personal data, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo 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 Beenbit.net. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Beenbit 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 scam, 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 facilitate access to your cryptocurrency funds. As we earlier determined, these rascals have no intention of giving back your money. So, what do these email messages and browser add-ons represent? Correct – this is another element of the fraudulent scheme designed to throw you into deliberately running malicious software onto your system.

Both extensions and attachments added to email messages can serve as a carrier for diverse malware. In this situation, I anticipate the presence of spyware and stealers among other types of malicious programs. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their morality is of little concern, and their reputation is already seriously marred. They have no scruples to give up and strive to boost revenues.

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