Bitxnix Review: Legit or Scam? Read This First

Recently, Bitxnix.com website surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable proof that unmistakably reveals it is, in truth, a fraudulent platform.

Despite the promises of the most user-friendly, reliable, and client-friendly service, Bitxnix.com does not follow any of them. In fact, all this is just a shiny wrap around a clear scam, which takes your funds and never gives them back. Any tales about gifts, backing from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Bitxnix Scam Overview

Originally, Bitxnix poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another highlighted selling point for this service is backing from celebrities that are known in 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 where those celebrities promote the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

Bitxnix Scam

Initially, Bitxnix repeats the appearance of numerous equivalent websites. There are quite a few examples, like Bitexline, Flow or Monlenix. They are completely undistinguishable in terms of graphic elements, with slight discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are identical. Presumably, all these fraudulent online platforms are managed by the same team of swindrels.

Cryptocurrency Scam Summary

How the Bitxnix Scam Works?

Bitxnix is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various website designs, which still share the same overall layout. Another shared 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 complex psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Employing bots and paid advertisements (when possible), scam actors intensify the presence of their scam activities to potential victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.

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

Users receive an incentive to enroll, attracted by the promise of obtaining cryptocurrency prizes valued at thousands of dollars, all without cost. To increase the attractiveness of the offer, fake claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

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

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal data, swindrels will not earn even a penny 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, crypto wallet address – is valuable for user identification. Solely 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, you cannot use the alleged bonus right away. To make at least crypto purchases on the platform with it, the user should top up the account with the equivalent sum. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Eventually, any crypto operations require having money on your account. With Bitxnix, users are also coerced to top up to get the bonuses. And these top ups is what creates most of the money flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the credited funds and withdraw them.

This is where the first obvious problems start to surface. When comparing the real cryptocurrency wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve 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 scoundrels are naught on intentions to return your money. Though to make it look more realistic, they’ve made up 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 data, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your funds back. And each of these checks will reveal more and more information, 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 Bitxnix.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Bitxnix 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, rascals may reach out to you with particular documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we previously determined, these rascals have no intent of giving back your capital. So, what can these messages and browser plugins represent? You guessed – that is another element of the scam designed to entice you into deliberately installing malicious applications onto your computer.

Both plugins and files attached to emails can serve as a carrier for various malicious code. In this situation, I anticipate the presence of spyware and stealers among all forms of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their morality is of negligible importance, and their reputation is already deeply compromised. They have nothing to lose and aim to maximize gains.

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