We Looked Into BEXUSX: Scam or Trustworthy? The Verdict

Recently, Bexusx.com site popped up, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable supporting information that clearly confirms it is, actually, a fraudulent service.

Despite the promises of the most convenient, reliable, and customer-centric service, Bexusx.com does not follow any of them. All this is just a shiny wrap around a dirty scam, which takes your funds and never gives them back. Any stories about bonuses, endorsement from celebrities etc are nowhere to be found as well.

BEXUSX Scam Overview

Originally, BEXUSX poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another highlighted selling point for this platform is backing from celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, rascals use AI-generated videos where those celebrities promote the fraud as the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a vivid wrap around an obvious scam.

BEXUSX Scam

To begin with, BEXUSX repeats the design of many equivalent online platforms. There are quite a few examples, like Befeno, Livaxxen or Lcdww. They are completely identical in terms of graphic elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are unchanged. Probably, all these scam sites are managed by the same team of fraudsters.

Cryptocurrency Scam Summary

How the BEXUSX Scam Works?

BEXUSX is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the same 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To begin the fraud, criminals establish and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and paid promotions (when possible), scam actors increase the visibility of their deceptive activities to potential victims. And as I said, crooks do not disdain using generative AI for creating videos with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

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

Users get an incentive to register, drawn by the assurance of getting crypto rewards valued at hundreds of dollars, all for free. To enhance the appeal of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, targets end up on a page filled with enticing offers. “Crypto starts with BEXUSX”, “Your crypto savings are secured with BEXUSX, “Start earning with BEXUSX – they look rather credible. To heat up users and make them proceed to step 3, scammers say that claiming the promised bonus requires registration. And as nothing concerning happens at this point, unexperienced users happily proceed – especially since the bonus appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you register using your personal information, frauds will not be able to 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 mentioned, frauds bait folks into signing up to get bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the claimed bonus is not available to use right away. To make it at least usable for crypto 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

It is obvious that any cryptocurrency purchases require you to have capital on your account. With BEXUSX, users are also compelled to top up to use the bonuses. And this is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this website hoping to use all the credited money and withdraw them.

This, however, is where the first obvious problems start to surface. When comparing the real 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 money 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 have 0 intentions to return your money. But to make the denial look more legitimate, they’ve made up a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC requirements say, but for the Bexusx.com they are here only to make the wireout impossible.

By requesting your personal data, deceivers 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 grand back. And each of these checks will share 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 Bexusx.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. BEXUSX 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 BEXUSX 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 BEXUSX, 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 BEXUSX is a definite scam.

What Should I do as a Victim?

If you had to deal with BEXUSX 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 scam, scoundrels may get in touch with you with specific files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we previously figured out, these rascals have no plan of returning your funds. So, what can these email messages and browser add-ons represent? Correct – that is another component of the scam designed to throw you into willingly installing destructive software onto your computer.

Both plugins and files attached to email messages can function as a shell for different malware. In this case, I anticipate the presence of spyware and stealers among other types of malware. While it is not mandatory for scammers to distribute malware, the probability is always existent. As noted, their conscience is of negligible importance, and their reputation is already neck deep in mud. They have no principles to lose and aim to maximize revenues.

Frequently asked questions