Investigating Coinrushbet: Legit or Scam? The Truth Revealed

Recently, Coinrushbet.com site appeared, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible proof that clearly indicates it is, in fact, a deceptive platform.

Regardless of the promises of the most easy, trustworthy, and client-friendly service, Coinrushbet.com does not follow any of them. All this is just a golden wrap around a blatant scam, which steals your money and data and never gives them back. Any tales about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

Coinrushbet Scam Overview

Originally, Coinrushbet poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another highlighted marketing point for this platform is backing from celebrities that are known in the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, frauds employ AI-generated videos where those celebrities advertise the fraud as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Coinrushbet Scam

To begin with, Coinrushbet shares the design of numerous similar websites. There are quite a few examples, like Corexom, Crimsonhighroll or Cryptostakez. They are entirely indistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are identical. Presumably, all these fraudulent sites are led by the same gang of scammers.

Cryptocurrency Scam Summary

How the Coinrushbet Scam Works?

Coinrushbet is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use various website designs, which still share the identical overall layout. Another common 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the scam, criminals establish and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid ads (when possible), fraud actors intensify the exposure of their scam activities to potential victims. And as I said, scammers 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, swindlers claim the bonus for every user who registers the service immediately.

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

Users receive an encouragement to sign up, attracted by the commitment of receiving crypto rewards valued at hundreds of dollars, all for free. To augment the attractiveness of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After clicking the promos, victims end up on a page filled with enticing offers. “Crypto starts with Coinrushbet”, “Your crypto savings are secured with Coinrushbet, “Start earning with Coinrushbet – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that claiming the promoted bonus requires registration. And as nothing questionable happens at this point, uninformed users happily keep on – especially as the bonus appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you register using your personal info, crooks 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 mentioned, scammers bait folks into registration to get bonuses. And all the personal info needed for it – username, email, crypto wallet address – is valuable for user identification. Solely by gathering this information and selling it further into the Darknet, swindlers 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 crypto purchases, the user should top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto purchases require you to have capital on your account. With Coinrushbet, users are also compelled to top up to claim the bonuses. And these top ups is what creates most of the cash flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the credited capital and withdraw them.

This, however, is where the first obvious problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the site says, you can spot 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 fraudsters are naught on intentions to give your money back. Though to make it look more legitimate, they’ve made up a whole bunch of reasons to decline the transfer-out request. Most of them repeat what Know Your Client regulations say, but for the Coinrushbet.com they are here exclusively to make the wireout impossible.

By requesting your personal info, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And each of these checks will uncover more and more info of yours, which – you guessed it right – will be then marketed 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 Coinrushbet.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Coinrushbet 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 timeline of the fraud, its masters may reach out to you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we already figured out, these scammers have no intent of restoring your funds. So, what do these email messages and browser add-ons represent? Correct – that is another side of the fraudulent scheme designed to throw you into deliberately installing destructive software onto your system.

Both add-ons and attachments attached to email messages can serve as a carrier for various malicious software. In this case, I foresee the presence of spyware and stealers among all forms of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As noted, their conscience is of negligible importance, and their dignity is already severely tarnished. They have nothing to give up and intend to maximize revenues.

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