The Truth About Coinexy: Legit or Scam? Our Review

Recently, Coinexy.net website popped up, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible proof that clearly indicates it is, actually, a deceptive service.

Contrary to the statements of Coinexy.net, they won’t return your funds. Regardless of the figures displayed in the “member area”, there is no means to take out even a single coin. All commitments regarding crypto bonuses 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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Coinexy Scam Overview

The key feature that Coinexy aims to provide is a safe and convenient cryptocurrency wallet service. The site promises crypto exchange facilities, tools for handling wallets, transfers, dashboards, and similar stuff. In truth, they endeavor to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it actually exclusively serves as a shell needed to lull the vigilance.

Coinexy Scam

Initially, Coinexy reproduces the layout of multiple equivalent websites. There are quite a few examples, like Xemtruck, Bithels or Bitxorex. They are totally indistinguishable in terms of visual elements, with small discrepancies in the website header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Most likely, all these fraudulent online platforms are operated by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Coinexy Scam Works?

Coinexy is yet another website within a wide-ranging network of linked crypto deceptive webpages. The operators employ various brand titles and sites, like Coinexy.net, to trap victims. Nonetheless, these deceptive websites have in common identical website designs, terms of service, and About Us information. This reveals their origins as components of the same scam network, which advocates the identical mode of fraud under diverse covers. The fraudsters simply duplicate the equal scam website under diverse names to mislead users into thinking they are enrolling a new opportunity. However, in actuality, it’s the same system of scammers orchestrating the fraudulent promises and efforts to seize deposited cryptocurrency. The operators skillfully employ psychological strategies and appealing invitations to carry out their unscrupulous schemes.

Step 1: Spreading

To begin the scam, criminals establish and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and sponsored advertisements (when feasible), fraud actors intensify the presence of their fraudulent activities to possible victims. This strategy permits them to cast a wide net and interact with their aimed viewers. The latter typically comprises of cryptocurrency enthusiasts seeking opportunities to generate profits.

Users receive an incentive to enroll, enticed by the commitment of getting crypto rewards valued at hundreds of dollars, all for free. To enhance the appeal of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Users who express interest check out Coinexy.net via links present in advertisements or robotic posts. The website uses captivating visuals, design aspects that appear authentic, and claims of having a official license, all designed to project an initial perception of credibility.

Step 3: Data Gathering

To redeem their rewards, users must proactively create an account on Coinexy and get prompts to provide sensitive and private information throughout the sign-up procedure. This includes linking their cryptocurrency wallets, revealing email addresses, specifying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once signed up, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Coinexy wallets. Nonetheless, as it usually happens with such bonuses, you can’t withdraw them prior to topping up your account. Typically, a payment of $100 is asked to withdraw the sign-up bonus. This condition serves as the trap that ultimately results to the money loss.

Step 5: Disappear

The instant the funds transfer is made, the scammers terminate all interaction. They move forward to restrict users, delete accounts, and vanish with both the transferred money and critical private information. The fabricated benefits persist perpetually uncredited, as they lack genuine existence. They operate solely as a fraudulent maneuver. This method forms the foundation for the scammers’ capability to trick victims and misappropriate hard-earned funds through their double-dealing internet-based crypto scheme.

Signs of Scam

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

• Unsubstantiated Credibility. Coinexy employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Coinexy exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Coinexy as a scam.
• Dubious Corporate Information. Coinexy arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Coinexy.net solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Coinexy utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Coinexy 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 scam, its masters may get in touch with you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we previously determined, these scoundrels have no intention of restoring your money. So, what do these messages and browser add-ons represent? Correct – that is another element of the deceptive plan designed to entice you into willingly running harmful applications onto your computer.

Both plugins and attachments included to email messages can act as a shell for diverse malware. In this situation, I anticipate the presence of spyware and stealers among all forms of threats. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As stated, their conscience is of no concern, and their reputation is already neck deep in mud. They have no scruples to give up and intend to maximize profits.

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 Coinexy

Name: Coinexy

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Coinexy, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Coinexy 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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