We Investigated Bitexcost: Legit or Scam? The Facts

Recently, Bitexcost.com website appeared, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible evidence that clearly confirms it is, in truth, a scam service.

Contrary to the claims of Bitexcost.com, they won’t ever refund your money. Despite the numbers displayed in the “member area”, there is no means to withdraw even a single cent. All pledges regarding crypto rewards are hollow as well.

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.

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Bitexcost Scam Overview

The primary service that Bitexcost attempts to provide is a safe and convenient cryptocurrency wallet service. The website pledges crypto exchange facilities, tools for managing wallets, transfers, dashboards, and similar stuff. In truth, they aim to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in fact solely serves as a cover needed to lull the vigilance.

Bitexcost Scam

Initially, Bitexcost mimics the layout of numerous similar online platforms. There are quite a few examples, like Yaobitc, Wetarex or Ternbit. They are totally undistinguishable in terms of visual elements, with slight discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these fraudulent online platforms are managed by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Bitexcost Scam Works?

Bitexcost is yet another online platform within a vast network of linked crypto deceptive sites. The operators employ various brand titles and websites, like Bitexcost.com, to ensnare victims. However, these deceptive websites possess identical designs, terms of service, and About Us content. This reveals their sources as components of the same scam network, which promotes the same mode of fraud under different covers. The fraudsters just duplicate the identical scam website under various names to fool users into believing they are joining a new platform. However, in actuality, it’s the equal group of fraudsters orchestrating the deceptive promises and attempts to seize deposited money. The managers shrewdly make use of psychological tactics and appealing propositions to implement their dishonest plots.

Step 1: Spreading

To start the scam, criminals create and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and paid advertisements (when feasible), scam actors intensify the exposure of their scam activities to possible victims. This approach enables them to create a broad net and connect with their focused spectators. This group usually comprises of cryptocurrency fans searching for chances to make profits.

Users receive an incentive to register, enticed by the promise of getting crypto benefits valued at thousands of dollars, all without cost. To increase the appeal of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Users who show interest check out Bitexcost.com via links present in ads or robotic posts. The webpage utilizes captivating visuals, design aspects that appear legitimate, and assertions of holding a legitimate license, all designed to project an initial perception of reliability.

Step 3: Data Gathering

To claim their prizes, users must deliberately sign up on Bitexcost and receive prompts to provide sensitive and personal information throughout the registration process. This includes linking their cryptocurrency wallets, providing email addresses, giving phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once signed up, users notice significant amounts of cryptocurrency, valued at hundreds of dollars, within their Bitexcost wallets. However, as it usually happens with such incentives, you cannot withdraw them prior to topping up your account. Usually, a deposit of $100 is asked to withdraw the sign-up bonus. This condition serves as the trap that ultimately culminates to the money loss.

Step 5: Disappear

The moment the deposit is sent, the fraudsters terminate all interaction. They go ahead to bar users, remove accounts, and vanish with both the submitted funds and critical individual data. The fictitious benefits remain perpetually uncredited, as they lack genuine existence. They act exclusively as a phishing ploy. This method forms the foundation for the fraudsters’ capability to trick victims and embezzle hard-earned money through their duplicative internet-based crypto scam.

Signs of Scam

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

• Unsubstantiated Credibility. Bitexcost employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Bitexcost exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Bitexcost as a scam.
• Dubious Corporate Information. Bitexcost arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Bitexcost.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Bitexcost utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Bitexcost 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 course of the fraud, its masters may contact you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we already figured out, these deceivers have no intent of giving back your money. So, what can these email messages and browser extensions represent? You guessed it right – that is another component of the deceptive plan designed to throw you into deliberately running harmful software onto your device.

Both plugins and attachments attached to emails can act as a carrier for diverse malicious code. In this case, I anticipate the presence of spyware and stealers among other forms of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always existent. As noted, their morality is of no concern, and their dignity is already deeply compromised. They have no principles to lose and aim to maximize profits.

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:

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.

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.

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

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.

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.

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