We Investigated Boomsity: Legit or Scam? The Facts

Recently, Boomsity.top website surfaced, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably indicates it is, actually, a fraudulent site.

Despite the promises of the most easy, trustworthy, and customer-centric service, Boomsity.top does not fulfill any of them. All this is just a shiny wrap around a clear scam, which steals your money and never returns them. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

Boomsity Scam Overview

Originally, Boomsity poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another highlighted selling point for this platform is backing from 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 more realistic, frauds employ deepfake videos with those celebs promote the scam as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a vivid wrap around a transparent scam.

Boomsity Scam

To begin with, Boomsity repeats the layout of many equivalent online platforms. There are quite a few examples, like Bowplay, Rolleroom or Goldmake. They are entirely indistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are unchanged. Probably, all these deceptive online platforms are led by a single gang of scoundrels.

Cryptocurrency Scam Summary

How the Boomsity Scam Works?

Boomsity is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the fraud, criminals set up and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Employing bots and paid promotions (when possible), scam actors increase the visibility of their scam activities to potential victims. And as I said, scammers do not shy away using deepfake for creating videos with the mentioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users receive an encouragement to register, enticed by the assurance of obtaining cryptocurrency rewards valued at hundreds of dollars, all for free. To enhance the appeal 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

Upon clicking the ads, victims end up on a page filled with enticing offers. “Crypto starts with Boomsity”, “Your crypto savings are secured with Boomsity, “Start earning with Boomsity – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that retrieving the pledged bonus requires registration. And since nothing concerning happens at this point, unaware users happily keep on – especially since the gift appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you sign up using your personal info, 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 mentioned, frauds bait folks into registration to get bonuses. And all the personal info needed for it – email, username, crypto wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters 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 at least crypto purchases on the platform with it, the user should top up the account with the equivalent sum. And this is what starts the final step of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency operations require having money on your account. With Boomsity, users are also coerced to top up to get the bonuses. And these top ups is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred money and withdraw them.

This is where the victim notices the issues. When keeping an eye on the real crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to withdraw 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 fraudsters have zero intentions to return your money. Though to make the denial look more legitimate, they’ve made up a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client requirements say, but for the Boomsity.top 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 a dozen other checks you would desperately need to undergo before getting your grand back. And each of these checks will uncover more and more info of yours, which – you guessed it right – will be then sold 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 Boomsity.top. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Boomsity employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Boomsity exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Boomsity as a scam.
• Dubious Corporate Information. Boomsity arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Boomsity.top solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Boomsity utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Boomsity 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 course of the scam, its actors may reach out to you with particular files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we already figured out, these scammers have no intention of giving back your capital. So, what do these messages and browser extensions represent? Correct – that is another element of the scam designed to throw you into deliberately installing malicious software onto your device.

Both extensions and attachments attached to email messages can function as a shell for various malicious code. In this case, I anticipate 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 greater than zero. As previously mentioned, their ethics is of negligible importance, and their reputation is already deeply compromised. They have nothing to lose and strive to maximize gains.

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