We Investigated Bitdexpay: Legit or Scam? The Facts

Recently, Bitdexpay.com site surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible evidence that clearly reveals it is, in truth, a fraudulent platform.

Despite what Bitdexpay site states, they won’t return your funds. Despite the money displayed in the “member area”, there is absolutely no possibility to take out even a coin. All commitments regarding crypto bonuses are empty as well.

It is better to prevent, than repair and repent!

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Bitdexpay Scam Overview

The main service that Bitdexpay aims to provide is a protected and user-friendly cryptocurrency wallet service. The website pledges crypto exchange solutions, tools for managing wallets, transfers, dashboards, and the like. In fact, they try to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it in fact exclusively serves as a cover needed to lull the vigilance.

Bitdexpay Scam

Initially, Bitdexpay imitates the layout of many similar websites. There are quite a few examples, like Savetrex, Owbitc or Onestarbtc. They are totally identical in terms of graphic elements, with minor discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Probably, all these deceptive online platforms are led by a single gang of swindrels.

Cryptocurrency Scam Summary

How the Bitdexpay Scam Works?

Bitdexpay is yet another webpage within a wide-ranging network of associated crypto deceptive sites. The operators employ different brand identities and websites, like Bitdexpay.com, to trap victims. However, these fraudulent websites share the same website designs, terms of service, and About Us information. This unveils their sources as a part of the same scam network, which advocates the same type of fraud under different disguises. The scammers just copy the same deceptive site under diverse names to deceive users into assuming they are participating in a new venture. However, in actuality, it’s the identical system of scammers orchestrating the deceptive pledges and undertakings to seize deposited funds. The administrators shrewdly make use of psychological tactics and captivating propositions to implement their deceitful plots.

Step 1: Spreading

To start the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and sponsored promotions (when possible), fraud actors boost the presence of their scam activities to potential victims. This approach enables them to cast a wide net and engage with their aimed spectators. The latter typically consists of cryptocurrency fans looking for prospects to earn profits.

Users get an incentive to sign up, attracted by the commitment of getting crypto benefits valued at hundreds of dollars, all free of charge. To enhance the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Individuals who express interest go to Bitdexpay.com via links present in promotions or robotic posts. The site uses captivating visuals, design elements that appear legitimate, and claims of possessing a official license, all designed to project an initial impression of credibility.

Step 3: Data Gathering

To redeem their prizes, users must deliberately set up an profile on Bitdexpay and get prompts to submit sensitive and personal data during the enrollment process. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once signed up, users observe considerable amounts of cryptocurrency, valued at thousands of dollars, within their Bitdexpay wallets. However, as it usually happens with such rewards, you cannot withdraw them before making a deposit. Typically, a funds transfer of $100 is asked to access the sign-up bonus. This condition serves as the enticement that ultimately culminates to the money loss.

Step 5: Disappear

The moment the deposit is sent, the fraudsters cease all communication. They proceed to bar users, remove accounts, and abscond with both the transferred capital and critical individual information. The fictitious prizes persist perpetually uncredited, as they lack genuine existence. They function exclusively as a deceptive ploy. This technique forms the foundation for the scammers’ capacity to mislead victims and misappropriate hard-earned earnings through their duplicative internet-based crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Bitdexpay 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 fraud, its masters may contact you with specific documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we earlier figured out, these deceivers have no intention of returning your money. So, what can these emails and browser extensions represent? Correct – that is another component of the fraudulent scheme designed to throw you into deliberately installing harmful programs onto your computer.

Both add-ons and files included to emails can serve as a carrier for various malware. In this case, I foresee the presence of spyware and stealers among other forms of malware. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As noted, their conscience is of negligible importance, and their reputation is already deeply compromised. They have nothing to lose and strive to boost gains.

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.

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

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

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

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.

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.

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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.

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.

2. Insert a USB flash drive into this computer.

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

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.

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.

Step 4: Remove Found Threats:

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

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.

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

The truth about Bitdexpay

Name: Bitdexpay

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

Operating System: All

Application Category: Crypto Scams

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