We Looked Into Coinbinx: Scam or Trustworthy? The Verdict

Recently, Coinbinx.com service popped up, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather credible supporting information that unmistakably reveals it is, in fact, a scam service.

Despite what Coinbinx site says, they will never return your capital. Even though the numbers displayed in the “member area”, there is no possibility to withdraw even a single coin. All pledges regarding crypto incentives are empty as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

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Coinbinx Scam Overview

The primary service that Coinbinx aims to provide is a protected and user-friendly crypto wallet service. The site pledges crypto exchange facilities, tools for controlling wallets, transfers, dashboards, and alike functions. In fact, they try to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it actually only serves as a shell needed to lull the vigilance.

Coinbinx Scam

First and foremost, Coinbinx imitates the appearance of multiple equivalent pages. There are quite a few examples, like Bixmot, Beastnex or Beomex. They are totally undistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are matching. Most likely, all these deceptive sites are managed by the same group of fraudsters.

Cryptocurrency Scam Summary

How the Coinbinx Scam Works?

Coinbinx is yet another website within a extensive network of interconnected crypto deceptive sites. The operators employ diverse brand identities and websites, like Coinbinx.com, to trap victims. However, these deceptive websites share matching designs, terms of service, and About Us content. This reveals their origins as parts of the same criminal network, which promotes the identical mode of fraud under diverse covers. The deceivers just copy the same scam site under various names to mislead users into believing they are joining a fresh opportunity. However, in reality, it’s the identical system of scammers orchestrating the misleading commitments and efforts to seize deposited cryptocurrency. The operators skillfully utilize psychological maneuvers and enticing invitations to carry out their dishonest schemes.

Step 1: Spreading

To begin the scam, criminals establish and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and paid promotions (when achievable), scam actors increase the presence of their scam activities to possible victims. This strategy enables them to create a broad net and connect with their focused audience. The latter typically consists of cryptocurrency enthusiasts searching for chances to generate profits.

Users receive a stimulus to register, attracted by the promise of getting crypto rewards valued at hundreds of dollars, all for free. To increase the attractiveness of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Users who demonstrate interest check out Coinbinx.com via links included in advertisements or robotic posts. The webpage uses captivating visuals, design features that appear legitimate, and assertions of holding a legitimate license, all designed to convey an initial image of trustworthiness.

Step 3: Data Gathering

To collect their prizes, users must deliberately sign up on Coinbinx and get instructions to provide sensitive and private information during the enrollment process. This includes linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, sending in identification documents, and the like.

Step 4: Requesting funds

Once registered, users observe considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Coinbinx wallets. Nonetheless, as it usually happens with such bonuses, you can’t withdraw them before making a deposit. Normally, a deposit of $100 is required to access the sign-up bonus. This prerequisite serves as the snare that eventually leads to the money loss.

Step 5: Disappear

The moment the deposit is submitted, the scammers halt all interaction. They proceed to bar users, erase accounts, and disappear with both the submitted funds and vital individual details. The phony benefits continue to be perpetually uncredited, as they lack actual existence. They operate purely as a fraudulent maneuver. This approach forms the foundation for the deceivers’ capacity to deceive victims and embezzle hard-earned funds through their duplicative online crypto scheme.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Coinbinx 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 fraud, rascals may get in touch with you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we previously determined, these scoundrels have no intention of returning your capital. So, what do these email messages and browser plugins represent? Correct – that is another side of the deceptive plan designed to throw you into willingly running harmful applications onto your computer.

Both extensions and files added to emails can serve as a carrier for different malicious software. In this case, I foresee the presence of spyware and stealers among all kinds of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As noted, their conscience is of no concern, and their dignity is already deeply compromised. They have no principles to give up and aim to maximize gains.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Coinbinx

Name: Coinbinx

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Coinbinx, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Coinbinx scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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