ChartDax Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Chartdax.com site popped up, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible evidence that unmistakably confirms it is, actually, a fraudulent service.

Regardless of the promises of the most easy, trustworthy, and client-friendly service, Chartdax.com does not follow any of them. In fact, all this is just a shiny wrap around a blatant scam, which takes your funds and never returns them. Any tales about gifts, backing from celebrities etc are absent as well.

ChartDax Scam Overview

Originally, ChartDax poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another bright selling point for this service 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 real, rascals employ deepfake videos where those celebrities promote the scam as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

ChartDax Scam

Initially, ChartDax copies the appearance of multiple similar online platforms. There are quite a few examples, like Tonfex, Sundropex or Starcryptex. They are entirely undistinguishable in terms of visual elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are matching. Most likely, all these fraudulent websites are led by a single gang of scoundrels.

Cryptocurrency Scam Summary

How the ChartDax Scam Works?

ChartDax 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 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 advanced 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 initiate the fraud, criminals establish and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and paid ads (when feasible), fraud actors increase the presence of their deceptive activities to possible victims. And as I said, crooks do not disdain using deepfake for creating clips with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

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

Step 2: Gaining Traffic

Upon clicking the ads, users end up on a page filled with appealing offers. “Crypto starts with ChartDax”, “Your crypto savings are secured with ChartDax, “Start earning with ChartDax – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that unlocking the promoted bonus requires registration. And as nothing concerning happens at this point, unexperienced users happily keep on – 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 information, crooks will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just mentioned, deceivers bait folks into signing up for bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make it at least usable for crypto purchases, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

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

This is where the victim notices the problems. When comparing the actual cryptocurrency 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 scoundrels are naught on intentions to send you money. But to make the fraud look more realistic, they’ve crafted a whole pack of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client requirements say, but for the Chartdax.com they are here only to make the withdrawal impossible.

By requesting your personal data, deceivers 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 should go through before getting your money back. And each of these checks 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 Chartdax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with ChartDax 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 the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

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, scoundrels may contact you with specific files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we already determined, these scoundrels have no plan of giving back your funds. So, what can these emails and browser extensions represent? You guessed it right – that is another element of the fraudulent scheme designed to entice you into deliberately installing destructive programs onto your computer.

Both extensions and attachments attached to emails can function as a carrier for diverse malicious software. In this situation, I anticipate the presence of spyware and stealers among all types of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As noted, their morality is of negligible importance, and their dignity is already severely tarnished. They have no scruples to lose and intend to boost revenues.

Frequently asked questions