Is Dexonar Legit or Another Scam? The Truth Revealed

Recently, Dexonar.com service appeared, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly reveals it is, in truth, a fraudulent service.

Despite the promises of the most easy, trustworthy, and client-friendly service, Dexonar.com does not offer any of them. All this is just a golden wrap around a clear scam, which steals your funds and never gives them back. Any tales about bonuses, backing from celebrities etc are absent as well.

Dexonar Scam Overview

Originally, Dexonar poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another bright selling point for this site is partnerships with celebrities that are known in the crypto world. 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 deepfake videos where those celebrities advertise the fake crypto service as 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 glaring wrap around an obvious scam.

Dexonar Scam

Initially, Dexonar copies the appearance of multiple equivalent pages. There are quite a few examples, like Caifcex, Beastbit or Puwiriu. They are totally identical in terms of visual elements, with slight discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Probably, all these scam online platforms are led by the same team of fraudsters.

Cryptocurrency Scam Summary

How the Dexonar Scam Works?

Dexonar is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use numerous website designs, which still share the identical 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 advanced psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals create and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and paid promotions (when feasible), fraud actors increase the visibility of their fraudulent activities to potential victims. And as I said, fraudsters do not shy away using deepfake for creating videos with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

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

Users obtain an encouragement to sign up, drawn by the assurance of getting crypto benefits valued at hundreds of dollars, all for free. To increase the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon clicking the ads, targets end up on a page filled with attractive offers. “Crypto starts with Dexonar”, “Your crypto savings are secured with Dexonar, “Start earning with Dexonar – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that getting the pledged bonus requires registration. And since nothing concerning 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 get away from the scam without any losses. Before you sign up using your personal data, rascals will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, scammers bait folks into registration to get bonuses. And all the personal information 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. Still, their plans go much further.

As it turns out, you cannot use the alleged bonus 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. And this is what initiates the final step of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require having capital on your account. With Dexonar, users are also compelled to top up to use the bonuses. And these top ups is what creates most of the cash 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 engaging on this website hoping to use all the credited money and withdraw them.

This, however, is where the victim notices the problems. When keeping an eye on the actual cryptocurrency 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 0 intentions to return your money. But to make it look more realistic, they’ve elaborated a whole pack of reasons to decline the transfer-out request. Usually, they repeat what KYC regulations say, but for the Dexonar.com they are here exclusively to make the withdrawal impossible.

By asking for your personal information, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your funds back. And each of these checks 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 Dexonar.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Dexonar 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. Dexonar.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. Dexonar 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. Dexonar.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%, Dexonar preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Dexonar as a scam.

What Should I do as a Victim?

If you had to deal with Dexonar 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 timeline of the fraud, rascals may reach out to you with particular files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we previously figured out, these scammers have no intention of restoring your capital. So, what do these email messages and browser plugins represent? Correct – this is another component of the deceptive plan designed to entice you into deliberately installing malicious programs onto your computer.

Both extensions and attachments included to emails can serve as a shell for diverse malware. In this scenario, I foresee the presence of spyware and stealers among other kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As stated, their ethics is of little concern, and their reputation is already seriously marred. They have nothing to lose and strive to boost revenues.

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