Is Bigtorex Legit or Another Scam? The Truth Revealed

Recently, Bigtorex.com website surfaced, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably indicates it is, actually, a scam service.

Contrary to the claims of Bigtorex.com, they won’t ever give back your funds. Despite the money displayed in the “member area”, there is no way to retrieve even a single cent. All pledges regarding crypto rewards are hollow as well.

Bigtorex Scam Overview

The key offering that Bigtorex aims to provide is a secure and convenient cryptocurrency wallet service. The website promises crypto exchange facilities, tools for managing wallets, transfers, dashboards, and alike functions. In truth, they try to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in actuality exclusively serves as a shell intended to lull the vigilance.

Bigtorex Scam

Initially, Bigtorex reproduces the appearance of numerous similar online platforms. There are quite a few examples, like Bigneex, Bemanex or Akrabit. They are totally identical in terms of graphic elements, with slight discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are identical. Probably, all these deceptive sites are managed by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Bigtorex Scam Works?

Bigtorex is yet another online platform within a vast network of linked crypto deceptive sites. The operators utilize various brand titles and sites, like Bigtorex.com, to ensnare victims. Nevertheless, these fraudulent sites have in common the same designs, terms of service, and About Us information. This exposes their beginnings as a part of the identical criminal network, which advocates the similar type of fraud under different appearances. The fraudsters merely duplicate the identical scam site under various names to mislead users into thinking they are joining a new venture. However, in reality, it’s the same system of fraudsters orchestrating the fraudulent commitments and attempts to seize deposited funds. The administrators shrewdly make use of psychological maneuvers and captivating invitations to carry out their dishonest plots.

Step 1: Spreading

To initiate the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and sponsored ads (when possible), fraud actors increase the exposure of their fraudulent activities to potential victims. This strategy enables them to create an extensive net and connect with their aimed viewers. This public commonly consists of cryptocurrency fans looking for chances to make profits.

Step 2: Gaining Traffic

People who express interest visit Bigtorex.com via links featured in advertisements or bot-generated posts. The webpage utilizes captivating visuals, design elements that appear authentic, and claims of having a legitimate license, all intended to project an initial image of reliability.

Step 3: Data Gathering

To collect their rewards, users must proactively set up an account on Bigtorex and get guidance to submit sensitive and personal information during the enrollment procedure. This comprises linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once signed up, users notice considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Bigtorex wallets. However, as it usually happens with such rewards, you cannot withdraw them prior to making a deposit. Typically, a deposit of $100 is required to withdraw the sign-up bonus. This prerequisite serves as the trap that eventually leads to the money loss.

Step 5: Disappear

The moment the payment is submitted, the fraudsters halt all contact. They proceed to bar users, erase accounts, and vanish with both the transferred money and vital individual information. The fabricated rewards persist perpetually uncredited, as they lack actual existence. They function purely as a deceptive ploy. This approach forms the foundation for the fraudsters’ ability to mislead victims and steal hard-earned money through their deceptive online crypto fraud.

Signs of Scam

I gathered several facts that point at the scammy nature of the Bigtorex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Bigtorex 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. Bigtorex.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. Bigtorex 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. Bigtorex.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%, Bigtorex preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Bigtorex as a scam.

What Should I do as a Victim?

If you had to deal with Bigtorex 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 timeline of the scam, rascals may reach out to you with specific documents. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we earlier figured out, these scoundrels have no intention of giving back your funds. So, what can these messages and browser plugins represent? You guessed it right – this is another side of the scam designed to throw you into willingly running harmful applications onto your computer.

Both extensions and attachments attached to email messages can act as a shell for different malicious code. In this situation, I anticipate the presence of spyware and stealers among all forms of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always greater than zero. As previously mentioned, their conscience is of negligible importance, and their dignity is already severely tarnished. They have nothing to lose and aim to maximize profits.

Frequently asked questions