Investigating Chainconsulting: Legit or Scam? The Truth Exposed

Recently, Chainconsulting.pro site appeared, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably reveals it is, in fact, a fraudulent platform.

Despite what Chainconsulting site says, they will never give back your money. Despite the numbers displayed in the “member area”, there is zero ability to withdraw even a single coin. All commitments regarding crypto rewards are hollow as well.

Chainconsulting Scam Overview

The main offering that Chainconsulting strives to provide is a secure and user-friendly crypto wallet service. The website pledges exchange solutions, tools for managing wallets, transfers, dashboards, and similar functions. In truth, they try to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it actually solely serves as a shell needed to lull the vigilance.

Chainconsulting Scam

Initially, Chainconsulting imitates the appearance of numerous equivalent pages. There are quite a few examples, like Coinfalcons, Bittor or Asvex. They are totally identical in terms of graphic elements, with small discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are matching. Most likely, all these deceptive sites are managed by the same gang of frauds.

Cryptocurrency Scam Summary

How the Chainconsulting Scam Works?

Chainconsulting is yet another website within a wide-ranging network of associated crypto fraudulent webpages. The operators employ diverse brand titles and websites, like Chainconsulting.pro, to capture victims. Nevertheless, these fraudulent websites share identical website designs, terms of service, and About information. This exposes their sources as components of the equal scam network, which promotes the same form of fraud under diverse appearances. The scammers just replicate the identical deceptive website under diverse names to deceive users into believing they are joining a new platform. However, in reality, it’s the same group of swindlers orchestrating the deceptive promises and efforts to grab deposited money. The administrators cleverly make use of psychological maneuvers and enticing invitations to execute their dishonest plots.

Step 1: Spreading

To initiate the scam, criminals set up and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid advertisements (when possible), fraud actors increase the presence of their scam activities to possible victims. This tactic enables them to cast a broad net and interact with their focused viewers. The latter commonly comprises of cryptocurrency enthusiastic individuals searching for opportunities to earn profits.

Step 2: Gaining Traffic

Users who demonstrate interest check out Chainconsulting.pro via links included in advertisements or bot-generated posts. The webpage uses captivating visuals, design features that appear legitimate, and assertions of possessing a valid license, all aimed to present an initial perception of trustworthiness.

Step 3: Data Gathering

To redeem their prizes, users are required to deliberately set up an account on Chainconsulting and receive instructions to submit sensitive and personal information during the registration process. This includes linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once registered, users observe considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Chainconsulting wallets. However, as it usually happens with such bonuses, you can’t withdraw them ahead of making a deposit. Typically, a payment of $100 is asked to withdraw the sign-up bonus. This stipulation serves as the snare that eventually culminates to the money loss.

Step 5: Disappear

The instant the payment is submitted, the scammers terminate all interaction. They move forward to bar users, delete accounts, and vanish with both the transferred funds and critical private details. The fabricated rewards persist perpetually uncredited, as they lack real existence. They act exclusively as a fraudulent maneuver. This approach forms the foundation for the deceivers’ capability to mislead victims and misappropriate hard-earned funds through their deceptive web crypto fraud.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Chainconsulting 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 fraud, its masters may contact you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we earlier determined, these rascals have no plan of returning your money. So, what do these email messages and browser add-ons represent? Correct – that is another component of the fraudulent scheme designed to entice you into deliberately installing harmful applications onto your computer.

Both plugins and files attached to emails can serve as a shell for different malware. In this scenario, I foresee the presence of spyware and stealers among other types of threats. While it is not obligatory for scammers to distribute malware, the chance is always existent. As noted, their conscience is of no concern, and their dignity is already deeply compromised. They have no scruples to give up and aim to maximize gains.

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