Binodax Reviewed: Legit or Total Ripoff? Read This First

Written by Daniel Zimmerman

Recently, Binodax.com website appeared, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather reliable supporting information that unmistakably confirms it is, in fact, a fraudulent platform.

Despite what Binodax site states, they will never give back your funds. Even though the money displayed in the “member area”, there is absolutely no ability to take out even a single penny. All promises regarding crypto rewards are baseless as well.

GridinSoft Anti-Malware Review
It is better to prevent, than repair and repent!
When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.
Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon
Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Binodax Scam Overview

The primary offering that Binodax strives to provide is a secure and user-friendly crypto wallet service. The site promises exchange facilities, tools for managing wallets, transfers, dashboards, and similar stuff. In fact, they aim to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in fact exclusively serves as a cover intended to fool the cautious.

Binodax.com Scam

Binodax Scam

Initially, Binodax mimics the design of many similar websites. There are quite a few examples, like Baywex, Mrxbeast or Moontenx. They are completely indistinguishable in terms of visual elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Probably, all these scam websites are managed by the same group of scoundrels.

Cryptocurrency Scam Summary

Website Binodax.com
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 188.114.97.3
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Binodax Scam Works?

Binodax is yet another webpage within a extensive network of associated crypto fraudulent platforms. The managers utilize various brand names and websites, like Binodax.com, to ensnare victims. However, these false sites share identical website designs, terms of service, and About content. This exposes their sources as components of the same fraudulent network, which endorses the identical type of scam under diverse appearances. The deceivers simply copy the same fraudulent website under diverse names to fool users into assuming they are enrolling a new opportunity. However, in actuality, it’s the same system of fraudsters orchestrating the deceptive commitments and attempts to seize deposited cryptocurrency. The administrators cleverly make use of psychological tactics and enticing offers to execute their dishonest schemes.

Step 1: Spreading

To begin the fraud, criminals establish and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Employing bots and paid ads (when possible), fraud actors intensify the exposure of their fraudulent activities to possible victims. This strategy enables them to cast an extensive net and interact with their aimed audience. The latter usually comprises of cryptocurrency fans looking for opportunities to earn profits.

Users receive an incentive to register, enticed by the commitment of obtaining crypto rewards valued at hundreds of dollars, all for free. To augment the appeal of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Users who express interest visit Binodax.com via links featured in advertisements or bot-generated posts. The website uses captivating visuals, design features that appear authentic, and claims of possessing a official license, all intended to project an initial impression of credibility.

Step 3: Data Gathering

To redeem their benefits, users need to deliberately create an account on Binodax and get guidance to submit sensitive and personal information during the sign-up procedure. This comprises linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, furnishing identification papers, and more.

Step 4: Requesting funds

Once signed up, users notice significant amounts of cryptocurrency, valued at thousands of dollars, within their Binodax wallets. However, as is standard with such rewards, you cannot withdraw them before making a deposit. Usually, a funds transfer of $100 is required to withdraw the sign-up bonus. This prerequisite serves as the trap that ultimately culminates to the money loss.

Step 5: Disappear

The point in time the deposit is sent, the scammers terminate all contact. They move forward to block users, erase accounts, and disappear with both the submitted capital and essential individual data. The phony benefits continue to be perpetually uncredited, as they lack real existence. They operate purely as a fraudulent strategy. This approach forms the foundation for the deceivers’ capability to deceive victims and steal hard-earned earnings through their double-dealing online crypto scheme.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Binodax 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 course of the fraud, rascals may get in touch with you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we already figured out, these scammers have no intent of returning your capital. So, what can these emails and browser extensions represent? Correct – that is another component of the deceptive plan designed to throw you into deliberately running harmful applications onto your device.

Both extensions and files included to emails can serve as a shell for various malicious software. In this situation, I expect the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As stated, their ethics is of no concern, and their reputation is already seriously marred. They have no principles to lose and strive to maximize revenues.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

Gridinsoft Anti-Malware - Main Screen

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

setup-gridinsoft-fix.exe

3.Follow the installation setup wizard's instructions diligently.

Gridinsoft Setup Wizard

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Scan for spyware malicious programs

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

The spyware was Found

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

The spyware has been removed

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

Trojan Killer - Main View

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

Download Trojan Killer

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

Install Trojan Killer to Removable Drive

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Click Update Button

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Searching spyware Virus

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

Searching spyware Finished

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Restart needed

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

Is there any real info on Binodax site?

The vast majority of information posted on the Binodax site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Binodax site promices real?

No, there is no legitimate information on the Binodax site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Binodax scam?

Unfortunately, recovering funds lost to a scam like Binodax can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Scrutinize Celebrity Endorsements. Be cautious of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
  2. Resist Urgency. Watch out for tactics that create a sense of urgency to pressure quick decisions. Legitimate investments offer time for research and consideration.
  3. Consult Reviews and Feedback. Look for independent reviews and feedback from fellow traders. Scammers may create fake positive reviews, but negative reviews can provide valuable insights.
  4. Question Unrealistic Promises. Be skeptical of offers promising unrealistically high returns or guaranteed profits. If an investment opportunity seems too good to be true, it likely is.
  5. Verify Regulation and Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.

What should I do as a victim of a Binodax.com scam?

If you have become a victim of a Binodax or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Thoroughly Document. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
The truth about Binodax

Name: Binodax

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Binodax, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Binodax scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

Sending
User Review
3.83 (6 votes)
Comments Rating 0 (0 reviews)

About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

Leave a Reply

Sending