The Chaingaps Scam – Don’t Become the Next Victim

Written by Daniel Zimmerman

Recently, Chaingaps.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible proof that unmistakably reveals it is, in truth, a fraudulent site.

Despite the promises of the most convenient, trustworthy, and customer-centric service, Chaingaps.com does not follow any of them. In fact, all this is just a golden wrap around a clear scam, which takes your funds and never returns them. Any stories about gifts, endorsement from celebrities etc are non-existent as well.

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Chaingaps Scam Overview

Originally, Chaingaps poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another notable selling point for this site is backing from celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, frauds employ deepfake videos with those celebs promote the scam as if it was the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a glaring wrap around an obvious scam.

Chaingaps.com Scam

Chaingaps Scam

To begin with, Chaingaps shares the appearance of many equivalent pages. There are quite a few examples, like Beastmoon, Bitceur or Blazebitx. They are entirely identical in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are the same. Probably, all these scam online platforms are operated by a single gang of swindrels.

Cryptocurrency Scam Summary

WebsiteChaingaps.com
HostingAS13335 Cloudflare, Inc.
Germany, Munich
IP Address188.114.97.3
Threat TypeScam/Fraud
Scam TypeFraudulent offers of cryptocurrency services

How the Chaingaps Scam Works?

Chaingaps is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use several 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 sophisticated psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals set up and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Utilizing bots and sponsored ads (when feasible), scam actors intensify the presence of their fraudulent activities to potential victims. And as I said, scammers 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.

Cryptoscam ads TIkTok

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

Users get a stimulus to sign up, drawn by the commitment of obtaining cryptocurrency benefits valued at hundreds of dollars, all for free. To enhance the attractiveness of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After following the promos, targets end up on a page filled with enticing offers. “Crypto starts with Chaingaps”, “Your crypto savings are secured with Chaingaps, “Start earning with Chaingaps – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that unlocking the promised bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily keep on – especially as the gift 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 information, rascals will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, frauds bait folks into registration for bonuses. And all the personal data needed for it – username, email, crypto wallet address – are valuable for user identification. Only by gathering this info and selling it further into the Darknet, crooks 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 it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. And this is what starts the final stage of the scam.

Step 4: Requesting funds

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

This, however, is where the issues start to surface. When comparing the actual crypto wallet vs what the website says, you can spot 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

Needless to say that scoundrels have zero intentions to return your money. Though to make the fraud look more realistic, they’ve developed a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC regulations say, but for the Chaingaps.com they are here exclusively to make the withdrawal impossible.

By requesting your personal information, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your grand back. And every check will reveal more and more information, 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 Chaingaps.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Chaingaps 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 course of the fraud, its actors may contact you with particular documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we earlier determined, these scoundrels have no plan of giving back your funds. So, what can these messages and browser add-ons represent? You guessed it right – that is another component of the scam designed to throw you into willingly running harmful software onto your computer.

Both extensions and files attached to email messages can function as a shell for different malicious software. In this case, I expect the presence of spyware and stealers among other kinds of malware. While it is not mandatory for scammers to distribute malware, the chance is always greater than zero. As stated, their ethics is of negligible importance, and their reputation is already deeply compromised. They have no scruples to lose and aim to maximize gains.

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Frequently asked questions

Is there any real info on Chaingaps site?

The vast majority of information posted on the Chaingaps site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Chaingaps site promices real?

No, there is no legitimate information on the Chaingaps site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Chaingaps scam?

Unfortunately, recovering funds lost to a scam like Chaingaps can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Verify Regulation and Licensing. Before proceeding, ensure that the platform or service is regulated and possesses the necessary licenses from relevant authorities. Scammers often operate without proper authorization.
  2. Resist Urgency. Be cautious of tactics that create a false sense of urgency to pressure you into quick decisions. Legitimate investments provide ample time for research and consideration.
  3. Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
  4. Question Unrealistic Promises. Approach offers with unrealistically high returns or guaranteed profits skeptically. If an investment opportunity seems too good to be true, it probably is.
  5. Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.

What should I do as a victim of a Chaingaps.com scam?

If you have become a victim of a Chaingaps or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Thoroughly Document. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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