Cointate Review: Legit or Scam? Read This First

Recently, Cointate.com site appeared, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather credible evidence that clearly indicates it is, actually, a deceptive site.

Contrary to the statements of Cointate.com, they won’t ever refund your capital. Despite the money displayed in the “member area”, there is no way to take out even a penny. All commitments regarding crypto rewards are empty as well.

It is better to prevent, than repair and repent!

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Cointate Scam Overview

The primary feature that Cointate strives to provide is a protected and user-friendly cryptocurrency wallet service. The site pledges exchange facilities, tools for controlling wallets, transfers, dashboards, and alike functions. In fact, they aim to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it actually solely serves as a cover intended to lull the vigilance.

Cointate Scam

Initially, Cointate mimics the appearance of many equivalent online platforms. There are quite a few examples, like Katranex, Rozerex or Santaclausbit. They are totally undistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are the same. Probably, all these fraudulent online platforms are managed by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Cointate Scam Works?

Cointate is yet another webpage within a extensive network of linked crypto scam webpages. The managers utilize diverse brand identities and websites, like Cointate.com, to ensnare victims. Nevertheless, these false websites share matching website designs, terms of service, and About information. This unveils their beginnings as parts of the equal scam network, which endorses the identical type of fraud under diverse disguises. The scammers merely replicate the identical deceptive website under different names to fool users into thinking they are joining a new venture. However, in actuality, it’s the identical group of swindlers orchestrating the fraudulent promises and undertakings to grab deposited funds. The operators skillfully utilize psychological tactics and appealing propositions to execute their deceitful plots.

Step 1: Spreading

To initiate the deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Using bots and paid promotions (when achievable), scam actors boost the visibility of their deceptive activities to possible victims. This strategy allows them to cast a wide net and engage with their focused viewers. The audience typically consists of cryptocurrency enthusiastic individuals searching for opportunities to make profits.

Users receive a stimulus to sign up, drawn by the commitment of receiving crypto rewards valued at thousands of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Users who express interest go to Cointate.com via links featured in ads or bot-generated posts. The site employs captivating visuals, design aspects that appear authentic, and assertions of possessing a official license, all aimed to present an initial perception of trustworthiness.

Step 3: Data Gathering

To claim their benefits, users are required to actively sign up on Cointate and get prompts to submit sensitive and private data during the sign-up procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, specifying phone numbers, submitting identification documents, and the like.

Step 4: Requesting funds

Once enrolled, users observe considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Cointate wallets. Nevertheless, as it usually happens with such bonuses, you are unable to withdraw them ahead of topping up your account. Normally, a deposit of $100 is asked to get the sign-up bonus. This stipulation serves as the trap that eventually leads to the money loss.

Step 5: Disappear

The point in time the payment is submitted, the deceivers halt all contact. They proceed to bar users, remove accounts, and vanish with both the transferred capital and essential individual information. The fictitious prizes continue to be perpetually uncredited, as they lack real existence. They operate exclusively as a deceptive maneuver. This method forms the foundation for the fraudsters’ capability to trick victims and steal hard-earned funds through their double-dealing online crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Cointate 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we earlier determined, these rascals have no intention of returning your funds. So, what do these messages and browser plugins represent? You guessed – that is another side of the deceptive plan designed to throw you into willingly installing harmful programs onto your system.

Both plugins and files added to emails can function as a carrier for diverse malicious code. In this scenario, I foresee the presence of spyware and stealers among all kinds of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always existent. As previously mentioned, their morality is of no concern, and their dignity is already severely tarnished. They have nothing to lose 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.

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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.

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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 Cointate

Name: Cointate

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