Bitexall Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Bitexall.com website appeared, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable supporting information that clearly reveals it is, actually, a scam platform.

Despite what Bitexall site says, they will never pay off your money. Regardless of the figures displayed in the “member area”, there is absolutely no possibility to retrieve even a single coin. All pledges regarding crypto bonuses are hollow as well.

Bitexall Scam Overview

The primary service that Bitexall aims to provide is a protected and convenient cryptocurrency wallet service. The site promises crypto exchange facilities, tools for controlling wallets, transfers, dashboards, and similar functions. In fact, they endeavor to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in fact solely serves as a cover intended to deceive the cautious.

Bitexall Scam

First and foremost, Bitexall reproduces the design of multiple equivalent pages. There are quite a few examples, like Slimbex, Wasolex or Tenxchange. They are entirely undistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other details, and sometimes even crypto wallet addresses, are matching. Presumably, all these deceptive sites are managed by the same gang of scammers.

Cryptocurrency Scam Summary

How the Bitexall Scam Works?

Bitexall is yet another website within a vast network of linked crypto deceptive platforms. The administrators employ different brand names and websites, like Bitexall.com, to trap victims. However, these deceptive websites share the same designs, terms of service, and About content. This exposes their sources as a part of the equal criminal network, which endorses the identical type of deception under various disguises. The deceivers merely copy the same fraudulent website under diverse names to deceive users into assuming they are enrolling a new platform. However, in actuality, it’s the equal system of scammers orchestrating the deceptive commitments and undertakings to grab deposited money. The administrators shrewdly employ psychological maneuvers and appealing offers to execute their deceitful plans.

Step 1: Spreading

To begin the scam, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and sponsored advertisements (when feasible), scam actors boost the visibility of their scam activities to possible victims. This tactic enables them to cast a broad net and connect with their targeted audience. The latter commonly consists of cryptocurrency enthusiastic individuals looking for chances to make profits.

Users receive an incentive to enroll, drawn by the commitment of obtaining crypto benefits valued at hundreds of dollars, all without cost. To increase the attractiveness of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

People who express interest check out Bitexall.com via links featured in ads or robotic posts. The site uses captivating visuals, design features that appear authentic, and claims of having a legitimate license, all aimed to convey an initial impression of reliability.

Step 3: Data Gathering

To claim their benefits, users must deliberately sign up on Bitexall and receive guidance to submit sensitive and personal information throughout the sign-up procedure. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once enrolled, users notice substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Bitexall wallets. Nonetheless, as it usually happens with such incentives, you are unable to withdraw them before making a deposit. Typically, a deposit of $100 is required to get the sign-up bonus. This condition serves as the trap that eventually culminates to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Bitexall 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 the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

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 scam, scoundrels may contact you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we previously figured out, these scammers have no plan of giving back your money. So, what can these emails and browser add-ons represent? Correct – that is another component of the scam designed to throw you into willingly running malicious programs onto your device.

Both add-ons and attachments attached to email messages can function as a shell for diverse malware. In this situation, I foresee the presence of spyware and stealers among other kinds of malware. While it is not mandatory for scammers to distribute malware, the probability is always significant. As noted, their ethics is of no concern, and their dignity is already severely tarnished. They have nothing to give up and aim to boost gains.

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