Recently, Cryptohub.capital site surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable evidence that unmistakably reveals it is, actually, a fraudulent site.
Regardless of the promises of the most convenient, reliable, and customer-centric service, Cryptohub.capital does not offer any of them. All this is just a golden wrap around a dirty scam, which takes your funds and never gives them back. Any stories about bonuses, endorsement from celebrities etc are nowhere to be found as well.
Cryptohub Scam Overview
Originally, Cryptohub poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable marketing point for this platform is partnerships with celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look more realistic, rascals use AI-generated videos where those celebrities promote the fake crypto service as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a blatant wrap around a transparent scam.
Cryptohub Scam
Initially, Cryptohub repeats the layout of multiple similar websites. There are quite a few examples, like Cyberx, Dayxtrades or Nixotrade. They are completely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these scam sites are led by the same gang of swindrels.
Cryptocurrency Scam Summary
| Website | Cryptohub.capital |
| Hosting | AS13335 Cloudflare, Inc. United States, San Francisco |
| IP Address | 172.67.181.17 |
| Threat Type | Scam/Fraud |
| Scam Type | Fraudulent offers of cryptocurrency services |
How the Cryptohub Scam Works?
Cryptohub is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various website designs, which still share the similar 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 advanced psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.
Step 1: Promotion
To initiate the scam, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and sponsored ads (when feasible), fraud actors increase the presence of their deceptive activities to potential victims. And as I said, scammers do not disdain using deepfake for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.
Promotions of cryptoscams like Cryptohub in TikTok. Most of these videos are AI-generated deepfakes
Step 2: Gaining Traffic
After following the promos, users end up on a page filled with attractive offers. “Crypto starts with Cryptohub”, “Your crypto savings are secured with Cryptohub, “Start earning with Cryptohub – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that obtaining the promised bonus requires registration. And since nothing concerning happens at this point, unexperienced users happily proceed – especially as the bonus appears to be right behind the corner.
At this point, it is possible to get away from the scam without any losses. Before you register using your personal data, frauds will not be able to 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, deceivers bait folks into registration for bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.
As it turns out, the alleged bonus is not available for withdrawal right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.
Step 4: Requesting funds
Eventually, any cryptocurrency operations require having capital on your account. With Cryptohub, users are also compelled to top up to get the bonuses. And these top ups is what creates the majority of the cash flow to this scam site. 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 transferred capital and withdraw them.
This is where the first obvious issues start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out 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 give your money back. But to make the denial look more realistic, they’ve made up a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what KYC requirements say, but for the Cryptohub.capital they are here only to make the wireout impossible.
By asking for your personal information, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your funds back. And every check will uncover more and more information, which – you guessed it right – will be then sold 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 Cryptohub.capital. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Unsubstantiated Credibility. Cryptohub 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%, Cryptohub exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Cryptohub as a scam.
- Dubious Corporate Information. Cryptohub 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. Cryptohub.capital 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. Cryptohub 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 Cryptohub 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 scam, fraudsters may get in touch with you with particular documents. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we earlier determined, these deceivers have no plan of returning your funds. So, what can these messages and browser extensions represent? Correct – that is another side of the fraudulent scheme designed to throw you into deliberately installing destructive programs onto your device.
Both add-ons and attachments added to emails can serve as a carrier for different malware. In this case, I foresee the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always above zero. As stated, their conscience is of no concern, and their dignity is already seriously marred. They have no principles to give up and aim to boost profits.
