We Investigated Cripexbit: Legit or Scam? The Facts

Recently, Cripexbit.com site surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably reveals it is, actually, a fraudulent site.

Regardless of the promises of the most easy, reliable, and customer-centric service, Cripexbit.com does not offer any of them. All this is just a gilded wrap around a clear scam, which steals your funds and never returns them. Any stories about bonuses, backing from celebrities etc are nowhere to be found as well.

Cripexbit Scam Overview

Originally, Cripexbit poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another notable selling point for this site is backing from 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 real, frauds use deepfake videos with those celebs promote the scam as if it was 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.

Cripexbit Scam

To begin with, Cripexbit repeats the layout of numerous equivalent online platforms. There are quite a few examples, like Xanarx, Zorunex or Bonexer. They are entirely identical in terms of graphic elements, with minor discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these fraudulent online platforms are managed by the same team of scammers.

Cryptocurrency Scam Summary

How the Cripexbit Scam Works?

Cripexbit is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use several website designs, which still share the same 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 complex psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To start the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and paid ads (when achievable), scam actors boost the exposure of their deceptive activities to potential victims. And as I said, crooks do not shy away using generative AI for creating videos with the aforementioned 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 Cripexbit in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

After clicking the promos, users end up on a page filled with attractive offers. “Crypto starts with Cripexbit”, “Your crypto savings are secured with Cripexbit, “Start earning with Cripexbit – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that getting the pledged bonus requires registration. And since nothing questionable happens at this point, unexperienced users happily proceed – especially since 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 info, rascals will not 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 for bonuses. And all the personal data needed for it – email, username, crypto wallet address – is valuable for user identification. Only by gathering this info and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, the claimed bonus is not available to use right away. To make it at least usable for crypto purchases, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any crypto purchases require you to have money on your account. With Cripexbit, users are also coerced to top up to get the bonuses. And this is what creates most of the money 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 participating on this site hoping to use all the credited capital and withdraw them.

This, however, is where the victim notices the issues. When keeping an eye on 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 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 have zero intentions to give your money back. But to make the fraud look more legitimate, they’ve crafted a whole pack of reasons to decline the withdrawal request. Most of them repeat what Know Your Client regulations say, but for the Cripexbit.com they are here exclusively to make the wireout impossible.

By requesting your personal info, scammers just stall hoping for you to understand that you’ve been scammed 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 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 Cripexbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Cripexbit 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%, Cripexbit exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Cripexbit as a scam.
• Dubious Corporate Information. Cripexbit 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. Cripexbit.com 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. Cripexbit 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 Cripexbit 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 duration of the fraud, scoundrels may contact you with particular documents. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we previously figured out, these rascals have no intention of restoring your capital. So, what do these emails and browser extensions represent? Correct – this is another side of the scam designed to entice you into deliberately installing harmful programs onto your device.

Both plugins and attachments added to emails can function as a carrier for diverse malicious code. In this scenario, I anticipate the presence of spyware and stealers among other forms of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always existent. As noted, their ethics is of little concern, and their reputation is already neck deep in mud. They have no principles to give up and aim to boost revenues.

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