The Bitexot Scam – What You Need To Know

Recently, Bitexot.com site popped up, promoting itself as a place to store cryptocurrency and other assets securely. I managed to gather credible proof that unmistakably reveals it is, in truth, a scam site.

Contrary to the assertions of Bitexot.com, they won’t pay off your funds. Even though the numbers displayed in the “member area”, there is absolutely no way to withdraw even a single penny. All commitments regarding crypto incentives are baseless 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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Bitexot Scam Overview

The key service that Bitexot strives to provide is a protected and convenient crypto wallet service. The website promises crypto exchange facilities, tools for managing wallets, transfers, dashboards, and similar stuff. In fact, they try to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it actually solely serves as a cover intended to fool the cautious.

Bitexot Scam

First and foremost, Bitexot reproduces the appearance of multiple similar pages. There are quite a few examples, like Pruwex, Muskedx or Global. They are completely undistinguishable in terms of visual elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Probably, all these deceptive sites are led by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Bitexot Scam Works?

Bitexot is yet another webpage within a extensive network of interconnected crypto scam platforms. The managers utilize different brand identities and websites, like Bitexot.com, to capture victims. Nevertheless, these deceptive sites share the same designs, terms of service, and About Us content. This unveils their beginnings as components of the equal criminal network, which endorses the same type of deception under diverse disguises. The fraudsters just replicate the equal fraudulent website under different names to deceive users into believing they are joining a fresh venture. However, in reality, it’s the identical group of scammers orchestrating the deceptive pledges and attempts to take deposited funds. The operators cleverly employ psychological tactics and enticing offers to execute their dishonest schemes.

Step 1: Spreading

To initiate the scam, criminals create and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and paid advertisements (when possible), fraud actors intensify the presence of their fraudulent activities to potential victims. This tactic enables them to create a wide net and engage with their targeted viewers. The latter commonly consists of cryptocurrency enthusiastic individuals searching for chances to earn profits.

Users obtain a stimulus to sign up, attracted by the assurance of receiving crypto prizes valued at hundreds of dollars, all free of charge. To increase the appeal of the offer, false claims of sponsorship by a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Users who express interest visit Bitexot.com via links present in promotions or robotic posts. The site employs captivating visuals, design features that appear genuine, and claims of having a official license, all aimed to present an initial perception of trustworthiness.

Step 3: Data Gathering

To redeem their benefits, users are required to proactively create an account on Bitexot and get prompts to submit sensitive and private information throughout the enrollment process. This includes linking their cryptocurrency wallets, revealing email addresses, giving phone numbers, furnishing identification documents, and more.

Step 4: Requesting funds

Once registered, users observe substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Bitexot wallets. However, as it usually happens with such rewards, you cannot withdraw them ahead of making a deposit. Usually, a payment of $100 is asked to withdraw the sign-up bonus. This condition serves as the enticement that eventually results to the money loss.

Step 5: Disappear

The point in time the funds transfer is sent, the fraudsters halt all contact. They go ahead to block users, erase accounts, and disappear with both the submitted funds and vital individual data. The fabricated prizes continue to be perpetually uncredited, as they lack real existence. They act exclusively as a phishing strategy. This method forms the foundation for the fraudsters’ ability to mislead victims and embezzle hard-earned funds through their duplicative online crypto scheme.

Signs of Scam

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

• Cryptocurrency-Only Transactions. Bitexot.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Bitexot arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Bitexot resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Bitexot employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Bitexot capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Bitexot.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Bitexot 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 scam, rascals may contact you with specific documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we already figured out, these scammers have no intention of restoring your capital. So, what do these email messages and browser extensions represent? You guessed it right – this is another side of the scam designed to entice you into deliberately installing harmful applications onto your device.

Both add-ons and files attached to emails can serve as a shell for diverse malware. In this case, I foresee the presence of spyware and stealers among other forms of malware. While it is not obligatory for scammers to distribute malware, the probability is always significant. As stated, their conscience is of little concern, and their dignity is already neck deep in mud. They have no scruples to give up and strive to boost 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.

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.

Frequently asked questions

The truth about Bitexot

Name: Bitexot

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Bitexot, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Bitexot 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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