We Looked at the Evidence: Is BITLENIX Legit or Scam?

Recently, Bitlenix.com site appeared, promoting itself as a place where you can safely keep cryptocurrency and other assets. I managed to gather reliable evidence that clearly confirms it is, actually, a fraudulent platform.

Despite the promises of the most user-friendly, dependable, and customer-centric service, Bitlenix.com does not offer any of them. In fact, all this is just a shiny wrap around a clear scam, which steals your money and data and never gives them back. Any tales about gifts, backing from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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BITLENIX Scam Overview

Originally, BITLENIX poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another notable selling point for this platform is partnerships with celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look real, con actors use deepfake videos with those celebs advertise the fraud as if it was the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

BITLENIX Scam

Initially, BITLENIX repeats the design of numerous equivalent websites. There are quite a few examples, like Avatradea, Cryptoqs or Fesydex. They are totally undistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are identical. Probably, all these scam websites are operated by the same team of scammers.

Cryptocurrency Scam Summary

How the BITLENIX Scam Works?

BITLENIX is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use several website designs, which still share the similar overall layout. Another mutual element are the ways the scams like NAME are promoted, and the manner all this ends up to the victim of the scam. To reach peak efficiency, frauds apply sophisticated psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals set up and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and sponsored advertisements (when feasible), scam actors boost the presence of their fraudulent activities to potential victims. And as I said, crooks do not shy away using generative AI for creating clips with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.

Promotions of cryptoscams like BITLENIX in TikTok. Most of these videos are AI-generated deepfakes

Users get an incentive to sign up, drawn by the commitment of getting crypto benefits valued at hundreds of dollars, all free of charge. To increase the appeal of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the ads, victims end up on a page filled with appealing offers. “Crypto starts with BITLENIX”, “Your crypto savings are secured with BITLENIX, “Start earning with BITLENIX – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that claiming the promised bonus requires registration. And as nothing suspicious happens at this point, unaware users happily move on – especially since the bonus appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you register using your personal data, rascals will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just said, scammers bait folks into signing up to get bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the alleged bonus is not available to use right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Eventually, any crypto purchases require having funds on your account. In the case of BITLENIX, users are also coerced to top up to claim the bonuses. And this is what creates most of the money flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the credited funds and withdraw them.

This, however, is where the victim notices the issues. When comparing the actual crypto wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to pull out the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that swindlers are naught on intentions to send you money. Though to make it look more legitimate, they’ve crafted a whole pack of reasons to decline the wireout request. Most of them repeat what KYC regulations say, but in this case they are here exclusively to make the wireout impossible.

By requesting your personal info, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your grand back. And each of these checks will reveal more and more info of yours, which – you guessed it right – will be then marketed on the Darknet. Never reveal your real info to strangers!

Signs of Scam

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

• Cryptocurrency-Only Transactions. Bitlenix.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. BITLENIX 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. BITLENIX 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. BITLENIX 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%, BITLENIX capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Bitlenix.com as a definite scam.

What Should I do as a Victim?

If you had to deal with BITLENIX 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 duration of the scam, its masters may contact you with particular documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we already figured out, these scammers have no intent of giving back your funds. So, what can these email messages and browser plugins represent? You guessed it right – that is another side of the fraudulent scheme designed to entice you into deliberately running destructive programs onto your system.

Both extensions and files added to emails can function as a shell for various malware. In this case, I anticipate the presence of spyware and stealers among all forms of malware. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As noted, their morality is of negligible importance, and their dignity is already neck deep in mud. They have nothing to give up and aim to maximize gains.

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