The Truth About Cryptcapex: Legit or Scam? Our Review

Written by Daniel Zimmerman

Recently, Cryptcapex.com service popped up, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly confirms it is, in fact, a fraudulent platform.

Regardless of the promises of the most convenient, trustworthy, and client-friendly service, Cryptcapex.com does not offer any of them. In fact, all this is just a gilded wrap around a clear scam, which steals your money and data and never gives them back. Any stories about gifts, endorsement from celebrities etc are non-existent as well.

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Cryptcapex Scam Overview

Originally, Cryptcapex poses as a crypto trading & cryptowallet service with outstandingly low commission fees. Another notable marketing point for this service is partnerships with celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, con actors use AI-generated videos with those celebs advertise the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

Cryptcapex.com Scam

Cryptcapex Scam

Initially, Cryptcapex repeats the design of many equivalent pages. There are quite a few examples, like Tallwincoin, Ecosminer or Bitbybrax. They are entirely undistinguishable in terms of visual elements, with slight discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are the same. Presumably, all these fraudulent sites are led by the same team of fraudsters.

Cryptocurrency Scam Summary

Website Cryptcapex.com
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 188.114.97.3
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Cryptcapex Scam Works?

Cryptcapex is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use numerous website designs, which still share the same overall layout. Another shared 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 initiate the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and paid ads (when possible), scam actors boost the presence of their deceptive activities to possible victims. And as I said, scammers do not disdain using deepfake for creating videos with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

Cryptoscam ads TIkTok

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

Users receive an encouragement to enroll, attracted by the promise of receiving crypto prizes valued at hundreds of dollars, all for free. To augment the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the ads, victims end up on a page filled with appealing offers. “Crypto starts with Cryptcapex”, “Your crypto savings are secured with Cryptcapex, “Start earning with Cryptcapex – they look rather reliable. To heat up users and make them proceed to step 3, crooks say that retrieving the promoted bonus requires registration. And as nothing concerning happens at this point, uninformed users happily proceed – especially since the gift appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you register using your personal information, 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, frauds bait folks for registration with bonuses. And all the personal data 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, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the claimed bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, 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

Obviously, any cryptocurrency purchases require having money on your account. In the case of Cryptcapex, users are also compelled to top up to claim the bonuses. And these top ups is what creates the majority of the money flow to this fraudulent site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the deposited capital and withdraw them.

This is where the problems start to surface. When comparing the real cryptocurrency wallet vs what the website says, you can notice 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 fraudsters have zero intentions to return your money. But to make the fraud look more legitimate, they’ve developed a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client regulations say, but in this case they are here exclusively to make the wireout impossible.

By asking for your personal info, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your grand back. And each of these checks will uncover 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 Cryptcapex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

  • False Celebrity Sponsorship. Cryptcapex often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
  • Cryptocurrency-Only Payments. Cryptcapex.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
  • Dubious Company Information. Cryptcapex raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
  • Unsubstantiated Hype. Cryptcapex.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
  • Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
  • Implausible Claims. Promising returns of 50-100-200%, Cryptcapex preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Cryptcapex as a scam.

What Should I do as a Victim?

If you had to deal with Cryptcapex 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, fraudsters may reach out to you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we earlier figured out, these scammers have no plan of giving back your funds. So, what can these messages and browser plugins represent? Correct – that is another element of the deceptive plan designed to entice you into deliberately running destructive applications onto your device.

Both extensions and files attached to email messages can serve as a carrier for diverse malicious code. In this scenario, I foresee the presence of spyware and stealers among other kinds of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As noted, their morality is of no concern, and their dignity is already seriously marred. They have nothing to give up and intend to maximize gains.

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The spyware was Found

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The spyware has been removed

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Frequently asked questions

Is there any real info on Cryptcapex site?

The vast majority of information posted on the Cryptcapex site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Cryptcapex site promices real?

No, there is no legitimate information on the Cryptcapex site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Cryptcapex scam?

Unfortunately, recovering funds lost to a scam like Cryptcapex can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Scrutinize Celebrity Endorsements. Be cautious of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
  2. Resist Urgency. Watch out for tactics that create a sense of urgency to pressure quick decisions. Legitimate investments offer time for research and consideration.
  3. Consult Reviews and Feedback. Look for independent reviews and feedback from fellow traders. Scammers may create fake positive reviews, but negative reviews can provide valuable insights.
  4. Question Unrealistic Promises. Be skeptical of offers promising unrealistically high returns or guaranteed profits. If an investment opportunity seems too good to be true, it likely is.
  5. Verify Regulation and Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.

What should I do as a victim of a Cryptcapex.com scam?

If you have become a victim of a Cryptcapex or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Thoroughly Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
The truth about Cryptcapex

Name: Cryptcapex

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

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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