Investigating Cryptobygalaxy: Legit or Scam? The Truth Revealed

Recently, Cryptobygalaxy.com service popped up, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible proof that clearly reveals it is, in fact, a scam service.

Despite what Cryptobygalaxy site says, they won’t give back your money. Regardless of the money displayed in the “member area”, there is zero means to retrieve even a single coin. All promises regarding crypto bonuses are baseless as well.

Cryptobygalaxy Scam Overview

The key feature that Cryptobygalaxy attempts to provide is a protected and convenient crypto wallet service. The website promises exchange services, tools for handling wallets, transfers, dashboards, and alike functions. In reality, they endeavor to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in actuality solely serves as a shell needed to lull the vigilance.

Cryptobygalaxy Scam

First and foremost, Cryptobygalaxy reproduces the layout of numerous similar pages. There are quite a few examples, like Bigtorex, Bigneex or Bemanex. They are entirely undistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are identical. Probably, all these scam websites are operated by the same team of fraudsters.

Cryptocurrency Scam Summary

How the Cryptobygalaxy Scam Works?

Cryptobygalaxy is yet another online platform within a wide-ranging network of associated crypto scam webpages. The operators employ different brand names and websites, like Cryptobygalaxy.com, to ensnare victims. However, these false websites have in common identical website designs, terms of service, and About information. This unveils their beginnings as a part of the same scam network, which advocates the same type of fraud under different disguises. The fraudsters simply copy the identical deceptive website under different names to mislead users into thinking they are participating in a new venture. However, in reality, it’s the equal system of scammers orchestrating the fraudulent pledges and undertakings to seize deposited funds. The administrators shrewdly utilize psychological strategies and enticing propositions to carry out their deceitful plots.

Step 1: Spreading

To begin the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and paid ads (when feasible), fraud actors boost the presence of their deceptive activities to potential victims. This approach enables them to create a broad net and interact with their targeted spectators. The latter usually consists of cryptocurrency enthusiastic individuals searching for prospects to make profits.

Step 2: Gaining Traffic

Users who express interest check out Cryptobygalaxy.com via links present in promotions or bot-generated posts. The site employs captivating visuals, design aspects that appear authentic, and claims of holding a legitimate license, all intended to convey an initial perception of trustworthiness.

Step 3: Data Gathering

To redeem their prizes, users are required to actively create an account on Cryptobygalaxy and receive prompts to submit sensitive and private information during the enrollment procedure. This includes linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, sending in identification papers, and the like.

Step 4: Requesting funds

Once signed up, users notice considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Cryptobygalaxy wallets. However, as it usually happens with such bonuses, you can’t withdraw them before topping up your account. Usually, a payment of $100 is asked to get the sign-up bonus. This prerequisite serves as the snare that eventually results to the money loss.

Step 5: Disappear

The point in time the deposit is made, the fraudsters cease all communication. They go ahead to bar users, erase accounts, and vanish with both the deposited capital and critical personal details. The phony prizes persist perpetually uncredited, as they lack real existence. They operate exclusively as a phishing maneuver. This method forms the foundation for the fraudsters’ ability to trick victims and steal hard-earned funds through their duplicative web crypto scheme.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Cryptobygalaxy 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 masters may contact you with particular files. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we earlier determined, these scammers have no plan of returning your capital. So, what do these email messages and browser plugins represent? Correct – this is another side of the deceptive plan designed to throw you into willingly running harmful software onto your computer.

Both add-ons and files attached to emails can function as a shell for diverse malware. In this scenario, I foresee the presence of spyware and stealers among other kinds of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always greater than zero. As previously mentioned, their conscience is of little concern, and their reputation is already seriously marred. They have nothing to give up and strive to boost profits.

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