Craknex Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Craknex.com website surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable supporting information that clearly indicates it is, in truth, a scam site.

Despite the promises of the most user-friendly, trustworthy, and client-friendly service, Craknex.com does not fulfill any of them. In fact, all this is just a golden wrap around a clear scam, which takes your money and never gives them back. Any stories about bonuses, backing from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Craknex Scam Overview

Originally, Craknex poses as a crypto trading & cryptowallet service with outstandingly low commission fees. Another highlighted marketing point for this site is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, rascals use deepfake videos where those celebrities promote the fraud as if it was 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.

Craknex Scam

Initially, Craknex repeats the appearance of multiple equivalent websites. There are quite a few examples, like Coinqot, Safrodex or Bitmedex. They are entirely identical in terms of graphic elements, with slight discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these deceptive websites are managed by the same gang of scammers.

Cryptocurrency Scam Summary

How the Craknex Scam Works?

Craknex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals 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 advanced 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 deceptive scheme, criminals create and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and sponsored ads (when achievable), fraud actors increase the visibility of their deceptive activities to potential victims. And as I said, scammers do not disdain using generative AI for creating clips 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 registers the service immediately.

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

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

Step 2: Gaining Traffic

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

This is the last stage when it is possible to steer away from the scam without any losses. Before you register using your personal data, rascals will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, frauds bait folks into registration for bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Only by gathering this information and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make at least cryptocurrency purchases on the platform with it, 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 capital on your account. With Craknex, users are also coerced to top up to claim the bonuses. And this is what creates most of the cash flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited capital and withdraw them.

This, however, is where the problems start to surface. When comparing the actual crypto wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to withdraw the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that fraudsters have 0 intentions to give your money back. But to make the fraud look more legitimate, they’ve made up a whole pack of reasons to decline the transfer-out request. Most of them repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By asking for 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 funds back. And every check will reveal more and more information, 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 Craknex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Craknex 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 course of the scam, its masters may get in touch with you with specific documents. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we already determined, these scammers have no intent of restoring your funds. So, what can these email messages and browser add-ons represent? Correct – that is another component of the fraudulent scheme designed to entice you into willingly running malicious software onto your device.

Both add-ons and files added to email messages can act as a shell for diverse malware. 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 probability is always significant. As stated, their ethics is of no concern, and their reputation is already deeply compromised. They have nothing to give up and strive to boost profits.

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Frequently asked questions

The truth about Craknex

Name: Craknex

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

3.6 (5 votes)

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