We Investigated Bluns: Legit or Scam? The Facts

Recently, Bluns.com service surfaced, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable proof that clearly reveals it is, actually, a scam site.

Despite the promises of the most user-friendly, dependable, and customer-centric service, Bluns.com does not follow any of them. All this is just a shiny wrap around a blatant scam, which takes your money and data and never returns them. Any tales about bonuses, sponsorship from celebrities etc are non-existent as well.

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Bluns Scam Overview

Originally, Bluns poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another highlighted selling point for this platform is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, frauds employ deepfake videos with those celebs promote the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

Bluns Scam

First and foremost, Bluns copies the appearance of multiple similar websites. There are quite a few examples, like Cryptosolex, Coinwglobals or Get. They are totally undistinguishable in terms of visual elements, with slight discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these fraudulent online platforms are led by the same gang of frauds.

Cryptocurrency Scam Summary

How the Bluns Scam Works?

Bluns is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use various website designs, which still share the identical overall layout. Another common 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals create and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and sponsored promotions (when possible), fraud actors boost the visibility of their fraudulent activities to potential victims. And as I said, fraudsters do not shy away using deepfake for creating videos with the mentioned celebs that promote 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 Bluns in TikTok. Most of these videos are AI-generated deepfakes

Users get a stimulus to register, drawn by the assurance of getting cryptocurrency rewards valued at hundreds of dollars, all free of charge. To enhance the attractiveness of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After clicking the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Bluns”, “Your crypto savings are secured with Bluns, “Start earning with Bluns – they look rather credible. To heat up users and make them proceed to step 3, scammers say that obtaining the promised bonus requires registration. And as nothing suspicious happens at this point, uninformed users happily proceed – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal data, swindrels 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 for registration with bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Only by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make it at least usable for cryptocurrency purchases, the user should top up the account with the equivalent sum. And this is what starts the final stage of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require having funds on your account. With Bluns, users are also compelled to top up to claim the bonuses. And these top ups is what creates the majority of the money flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited capital and withdraw them.

This is where the first obvious problems start to surface. When comparing the actual crypto wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to withdraw the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that fraudsters have no intentions to give your money back. Though to make the fraud look more legitimate, they’ve elaborated a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client regulations say, but for the Bluns.com they are here only to make the withdrawal impossible.

By asking for 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 a dozen other checks you would desperately need to undergo before getting your funds back. And every check will reveal more and more info of yours, which – you guessed it right – will be then traded 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 Bluns.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Bluns 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 timeline of the scam, fraudsters may contact you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we already determined, these deceivers have no intention of giving back your capital. So, what do these messages and browser extensions represent? You guessed it right – this is another component of the deceptive plan designed to entice you into deliberately running destructive applications onto your computer.

Both add-ons and files included to email messages can act as a shell for different malware. In this case, I foresee the presence of spyware and stealers among other kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As noted, their conscience is of no concern, and their dignity is already severely tarnished. They have no principles to lose and aim to boost gains.

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Frequently asked questions

The truth about Bluns

Name: Bluns

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