We Investigated Corexom: Legit or Scam? The Facts

Recently, Corexom.com site surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather credible evidence that unmistakably confirms it is, in truth, a deceptive platform.

Regardless of the promises of the most convenient, trustworthy, and client-friendly service, Corexom.com does not follow any of them. All this is just a shiny wrap around a dirty scam, which steals your money and data and never gives them back. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

Corexom Scam Overview

Originally, Corexom poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another notable selling point for this platform is partnerships with celebrities that are known in the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, con actors use deepfake videos where those celebrities promote the fake crypto service as the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

Corexom Scam

To begin with, Corexom shares the appearance of multiple similar websites. There are quite a few examples, like Crimsonhighroll, Cryptostakez or Crystallas. They are totally indistinguishable in terms of graphic elements, with small discrepancies in the site header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Probably, all these scam sites are managed by the same team of fraudsters.

Cryptocurrency Scam Summary

How the Corexom Scam Works?

Corexom is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the identical overall layout. Another mutual 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 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 marketing campaign commences. Utilizing bots and sponsored promotions (when possible), fraud actors boost the exposure of their fraudulent activities to possible victims. And as I said, scammers do not disdain using deepfake for creating videos with the mentioned celebrities 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 Corexom in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

Upon clicking the promotions, victims end up on a page filled with enticing offers. “Crypto starts with Corexom”, “Your crypto savings are secured with Corexom, “Start earning with Corexom – they look rather reliable. To heat up users and make them proceed to step 3, fraudsters say that retrieving the pledged bonus requires registration. And as nothing questionable happens at this point, unaware users happily move on – especially since the reward appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you sign up using your personal info, swindrels 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, frauds bait folks for registration with bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Solely by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make it at least usable for crypto purchases, you need to top up the account with the sum of a bonus. And this is what starts the final step of the scam.

Step 4: Requesting funds

Obviously, any crypto operations require you to have funds on your account. In the case of Corexom, users are also coerced to top up to get the bonuses. And this is what creates most of the cash flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the transferred capital and withdraw them.

This is where the first obvious problems start to surface. When comparing the actual crypto wallet vs what the site says, you can observe 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

There’s no need to explain that scoundrels are naught on intentions to return your money. Though to make it look more realistic, they’ve elaborated a whole pack of reasons to decline the withdrawal request. Most of them repeat what Know Your Client requirements say, but for the Corexom.com they are here only to make the withdrawal impossible.

By requesting your personal information, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your money back. And each of these checks will share more and more information, 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 Corexom.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Corexom 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 actors may get in touch with you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we already determined, these rascals have no intent of returning your capital. So, what do these emails and browser plugins represent? You guessed it right – this is another element of the deceptive plan designed to throw you into willingly installing harmful programs onto your computer.

Both extensions and attachments added to email messages can act as a shell for different malicious code. In this situation, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always significant. As stated, their morality is of little concern, and their reputation is already deeply compromised. They have no scruples to lose and strive to maximize revenues.

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