We Investigated C-patex: Legit or Scam? The Facts

Recently, Money.c-patex.net site popped up, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather reliable proof that clearly confirms it is, actually, a fraudulent service.

Regardless of the promises of the most easy, trustworthy, and customer-centric service, Money.c-patex.net does not follow any of them. In fact, all this is just a shiny wrap around a blatant scam, which steals your money and never gives them back. Any stories about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

C-patex Scam Overview

Originally, C-patex poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another bright marketing point for this platform is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, rascals employ deepfake videos where those celebrities advertise the fraud as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a vivid wrap around a transparent scam.

C-patex Scam

First and foremost, C-patex repeats the appearance of numerous similar pages. There are quite a few examples, like Vicbtc, Jablocenter or Flicex. They are totally identical in terms of graphic elements, with minor discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these scam sites are led by the same gang of fraudsters.

Cryptocurrency Scam Summary

How the C-patex Scam Works?

C-patex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use several 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 advanced 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 start the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Utilizing bots and paid advertisements (when possible), scam actors boost the exposure of their scam activities to potential victims. And as I said, crooks do not shy away using deepfake for creating videos with the aforementioned celebs that advertise 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 C-patex in TikTok. Most of these videos are AI-generated deepfakes

Users receive an incentive to enroll, attracted by the assurance of getting cryptocurrency prizes valued at thousands of dollars, all without cost. To increase the appeal of the offer, false claims of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the promotions, users end up on a page filled with attractive offers. “Crypto starts with C-patex”, “Your crypto savings are secured with C-patex, “Start earning with C-patex – they look rather credible. To heat up users and make them proceed to step 3, scammers say that getting the pledged bonus requires registration. And as nothing suspicious happens at this point, uninformed users happily move on – especially since the reward 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 penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, deceivers bait folks for registration with bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Only by gathering this information and selling it further into the Darknet, crooks 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 cryptocurrency purchases on the platform with it, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any cryptocurrency operations require having funds on your account. With C-patex, users are also forced to top up to get the bonuses. And this is what creates most of the money flow to this scam site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred funds and withdraw them.

This is where the first obvious issues start to surface. When keeping an eye on the real crypto wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to pull out the money 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. But to make the denial look more realistic, they’ve developed a whole pack of reasons to decline the wireout request. Most of them repeat what KYC requirements say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for 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 funds back. And each of these checks will share 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 Money.c-patex.net. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with C-patex 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, scoundrels may get in touch with you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we previously determined, these scammers have no intent of returning your capital. So, what do these messages and browser extensions represent? Correct – that is another element of the fraudulent scheme designed to entice you into deliberately installing harmful software onto your computer.

Both extensions and files added to email messages can act as a carrier for different malicious code. In this situation, I expect the presence of spyware and stealers among all forms of malware. While it is not obligatory for scammers to distribute malware, the probability is always significant. As stated, their morality is of little concern, and their reputation is already severely tarnished. They have no principles to lose and intend to boost revenues.

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