The Truth About Dexlcoin: Legit or Scam? Our Review

Recently, Dexlcoin.com service appeared, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible proof that unmistakably confirms it is, in fact, a deceptive platform.

Despite the promises of the most easy, trustworthy, and client-friendly service, Dexlcoin.com does not follow any of them. In fact, all this is just a gilded wrap around a dirty scam, which steals your funds and never returns them. Any tales about bonuses, backing from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Dexlcoin Scam Overview

Originally, Dexlcoin poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable selling point for this service 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 more realistic, con actors use AI-generated videos where those celebrities promote the fake crypto service 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 blatant wrap around a transparent scam.

Dexlcoin Scam

To begin with, Dexlcoin repeats the layout of many similar online platforms. There are quite a few examples, like Cerotix, Bittvine or Wicrex. They are completely indistinguishable in terms of visual elements, with minor discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive online platforms are managed by the same team of swindrels.

Cryptocurrency Scam Summary

How the Dexlcoin Scam Works?

Dexlcoin is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the same 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 sophisticated 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 fraud, criminals set up and fill accounts on popular social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Utilizing bots and sponsored advertisements (when achievable), fraud actors intensify the visibility of their scam activities to potential victims. And as I said, crooks do not disdain using generative AI for creating clips with the mentioned celebs that advertise 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 Dexlcoin in TikTok. Most of these videos are AI-generated deepfakes

Users get an incentive to enroll, enticed by the commitment of obtaining cryptocurrency prizes valued at thousands of dollars, all free of charge. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, targets end up on a page filled with enticing offers. “Crypto starts with Dexlcoin”, “Your crypto savings are secured with Dexlcoin, “Start earning with Dexlcoin – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that getting the promised bonus requires registration. And as nothing suspicious happens at this point, unexperienced users happily keep on – especially since the bonus 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 sign up using your personal information, swindrels 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 said, deceivers bait folks into registration for bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make it at least usable for cryptocurrency purchases, the user should top up the account with the sum of a bonus. And this is what initiates the final step of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency operations require having capital on your account. In the case of Dexlcoin, users are also forced to top up to use the bonuses. And this is what creates the majority of the cash flow to this scam site. By topping up the account, users hope to get the pledged 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 first obvious problems start to surface. When comparing the real cryptocurrency wallet vs what the site 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 swindlers have no intentions to give your money back. Though to make the denial look more legitimate, they’ve elaborated a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC guidelines say, but for the Dexlcoin.com they are here exclusively to make the withdrawal impossible.

By asking for your personal data, deceivers 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 money back. And every check will share 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 Dexlcoin.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Dexlcoin 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%, Dexlcoin exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Dexlcoin as a scam.
• Dubious Corporate Information. Dexlcoin 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. Dexlcoin.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. Dexlcoin 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 Dexlcoin 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.

• Report to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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, rascals may contact you with specific documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto savings. As we already determined, these rascals have no plan of giving back your funds. So, what do these messages and browser plugins represent? You guessed it right – that is another side of the fraudulent scheme designed to throw you into willingly running malicious applications onto your device.

Both extensions and attachments added to emails can act as a shell for various malicious code. In this situation, I foresee the presence of spyware and stealers among other kinds of threats. While it is not obligatory for scammers to distribute malware, the probability is always greater than zero. As noted, their ethics is of negligible importance, and their reputation is already neck deep in mud. They have nothing to give up and intend to maximize gains.

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