Recently, Bitexmusk.com website surfaced, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather reliable evidence that unmistakably indicates it is, actually, a scam platform.
Contrary to the statements of Bitexmusk.com, they will never give back your funds. Regardless of the figures displayed in the “member area”, there is zero way to take out even a penny. All promises regarding crypto bonuses are empty as well.
Bitexmusk Scam Overview
The primary offering that Bitexmusk attempts to provide is a protected and user-friendly cryptocurrency wallet service. The website promises crypto exchange services, tools for controlling wallets, transfers, dashboards, and alike functions. In fact, they try to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it actually only serves as a shell intended to lull the vigilance.
To begin with, Bitexmusk mimics the layout of many equivalent pages. There are quite a few examples, like Zyxbit, Zobitex or Zeopump. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are identical. Most likely, all these fraudulent sites are operated by a single group of scammers.
Cryptocurrency Scam Summary
|Hosting||AS13335 Cloudflare, Inc.
United States, San Francisco
|Scam Type||Fraudulent offers of cryptocurrency services|
How the Bitexmusk Scam Works?
Bitexmusk is yet another online platform within a vast network of interconnected crypto fraudulent platforms. The managers employ various brand names and websites, like Bitexmusk.com, to trap victims. Nevertheless, these fraudulent websites share the same website designs, terms of service, and About information. This reveals their beginnings as a part of the same criminal network, which promotes the same type of scam under different disguises. The fraudsters merely replicate the same deceptive website under diverse names to deceive users into thinking they are enrolling a new opportunity. However, in actuality, it’s the same group of fraudsters orchestrating the deceptive promises and attempts to grab deposited funds. The administrators shrewdly utilize psychological strategies and enticing propositions to carry out their unscrupulous schemes.
Step 1: Spreading
To start the scam, criminals set up and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Using bots and sponsored advertisements (when achievable), scam actors increase the visibility of their fraudulent activities to possible victims. This tactic enables them to cast a wide net and interact with their aimed spectators. The latter commonly comprises of cryptocurrency enthusiasts seeking prospects to generate profits.
Users receive an encouragement to sign up, drawn by the assurance of receiving crypto benefits valued at thousands of dollars, all free of charge. To enhance the attractiveness 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
Individuals who demonstrate interest check out Bitexmusk.com via links featured in promotions or bot-generated posts. The website utilizes captivating visuals, design aspects that appear authentic, and claims of having a valid license, all designed to present an initial image of trustworthiness.
Step 3: Data Gathering
To claim their rewards, users are required to proactively create an account on Bitexmusk and get instructions to submit sensitive and personal information during the registration process. This includes linking their cryptocurrency wallets, revealing email addresses, giving phone numbers, sending in identification papers, and more.
Step 4: Requesting funds
Once enrolled, users observe substantial amounts of cryptocurrency, valued at thousands of dollars, within their Bitexmusk wallets. Nevertheless, as is common with such incentives, you can’t withdraw them prior to topping up your account. Usually, a payment of $100 is asked to withdraw the sign-up bonus. This prerequisite serves as the trap that eventually culminates to the money loss.
Step 5: Disappear
The point in time the deposit is sent, the fraudsters halt all interaction. They proceed to bar users, remove accounts, and vanish with both the deposited capital and vital private details. The fictitious benefits persist perpetually uncredited, as they lack genuine existence. They function solely as a deceptive ploy. This approach forms the foundation for the scammers’ capability to trick victims and misappropriate hard-earned money through their deceptive internet-based crypto fraud.
Signs of Scam
I gathered several facts that point at the scammy nature of the Bitexmusk.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Absent company details. Bitexmusk 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 Bitexmusk 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 Bitexmusk, 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 Bitexmusk is a definite scam.
What Should I do as a Victim?
If you had to deal with Bitexmusk 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 duration of the fraud, scoundrels may contact you with specific documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we earlier figured out, these deceivers have no plan of restoring your capital. So, what do these messages and browser add-ons represent? Correct – that is another side of the deceptive plan designed to throw you into willingly running malicious programs onto your device.
Both plugins and files added to emails can function as a carrier for different malicious software. In this scenario, I expect the presence of spyware and stealers among other forms of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always existent. As previously mentioned, their morality is of negligible importance, and their reputation is already severely tarnished. They have no scruples to give up and strive to boost gains.
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Trojan Killer for “spyware” removal on locked PC
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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.
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Step 1: Download & Install Trojan Killer on a Clean Computer:
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2. Insert a USB flash drive into this computer.
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Step 2: Update Signature Databases:
5. After launching Trojan Killer, ensure that your computer is connected to the Internet.
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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.
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Step 5: Restart Your Computer:
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16. Remove the USB flash drive from the infected computer.
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Frequently asked questions
The vast majority of information posted on the Bitexmusk 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.
No, there is no legitimate information on the Bitexmusk 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.
Unfortunately, recovering funds lost to a scam like Bitexmusk 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.
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:
- Too Good to Be True Promises. Be cautious of offers that promise unrealistically high returns or guaranteed profits. If an investment opportunity sounds too good to be true, it likely is.
- Pressure to Act Quickly. Scammers often use tactics like creating a sense of urgency to pressure you into making quick decisions. Legitimate investments allow you time to research and consider your options.
- Lack of Regulation or Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.
- Social Proof and Celebrity Endorsements: Be skeptical of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
- Check for Reviews and Feedback: Look for independent reviews and feedback from other traders. Scammers may fabricate positive reviews, but negative reviews can provide valuable insights.
If you have become a victim of a Bitexmusk 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:
- Cease Communication. If you realize that you’ve been scammed, stop all communication with the scammers. Do not respond to their emails, messages, or calls.
- Document Everything. Gather and preserve all relevant information, including emails, screenshots, transaction records, and any communication you had with the scammers. This documentation will be crucial for reporting the scam and seeking assistance.
- Report to Authorities. File a report with your local law enforcement agency and any relevant regulatory authorities in your country. Provide them with all the evidence you have gathered. This helps initiate investigations and raises awareness about the scam.
- Contact Financial Institutions. If you made any payments or deposits using your credit card or bank account, contact your financial institution immediately. They may be able to help you with disputing transactions or initiating a chargeback.
- 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.
- Notify Cryptocurrency Exchanges. If you used a cryptocurrency exchange to make transactions related to the scam, notify the exchange about the fraudulent activity. They may be able to assist you in some cases.
- Monitor Your Accounts. Keep a close eye on your financial and online accounts for any suspicious activity. Change passwords and enable two-factor authentication wherever possible.
The truth about Bitexmusk
Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Bitexmusk, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Bitexmusk 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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