The Beetyx Scam – What You Need To Know

Recently, Beetyx.com site surfaced, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible proof that unmistakably reveals it is, actually, a fraudulent site.

Regardless of the promises of the most user-friendly, trustworthy, and customer-centric service, Beetyx.com does not fulfill any of them. All this is just a golden wrap around a blatant scam, which steals your money and never returns them. Any stories about gifts, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Beetyx Scam Overview

Originally, Beetyx poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another notable selling point for this platform is partnerships with celebrities that are known in the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – 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 fraud as 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 blatant wrap around a transparent scam.

Beetyx Scam

Initially, Beetyx copies the appearance of numerous equivalent websites. There are quite a few examples, like Foyrex, Fegwex or Elembrix. They are totally identical in terms of visual elements, with slight discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are the same. Presumably, all these scam online platforms are operated by the same group of scammers.

Cryptocurrency Scam Summary

How the Beetyx Scam Works?

Beetyx is a part of a extensive 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 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 begin the fraud, criminals establish and fill accounts on popular social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and sponsored promotions (when achievable), fraud actors intensify the exposure of their fraudulent activities to potential victims. And as I said, scammers do not disdain using deepfake for creating clips with the aforementioned celebrities 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 Beetyx in TikTok. Most of these videos are AI-generated deepfakes

Users receive a stimulus to register, drawn by the commitment of getting crypto rewards valued at thousands of dollars, all without cost. To enhance the attractiveness of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the promotions, users end up on a page filled with attractive offers. “Crypto starts with Beetyx”, “Your crypto savings are secured with Beetyx, “Start earning with Beetyx – they look rather reliable. 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 suspicious happens at this point, unaware 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 data, swindrels will not earn even a penny 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 registration to get bonuses. And all the personal information needed for it – username, email, crypto wallet address – is valuable for user identification. Only by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the alleged 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

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

This, however, is where the problems start to surface. When keeping an eye on the actual crypto wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve 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 0 intentions to send you money. Though to make it look more legitimate, they’ve made up a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal data, 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 would desperately need to undergo before getting your funds back. And every check will share more and more info of yours, 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 Beetyx.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Beetyx often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Beetyx.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Beetyx raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Beetyx.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Beetyx preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Beetyx as a scam.

What Should I do as a Victim?

If you had to deal with Beetyx 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 duration of the fraud, fraudsters may contact you with particular files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we already figured out, these scoundrels have no plan of returning your money. So, what can these email messages and browser add-ons represent? Correct – that is another side of the fraudulent scheme designed to throw you into deliberately running malicious programs onto your system.

Both add-ons and files included to email messages can function as a carrier for different malware. In this situation, I anticipate the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As stated, their ethics is of no concern, and their reputation is already neck deep in mud. They have no principles to give up and strive to boost gains.

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