We Investigated Diamondjack: Legit or Scam? The Facts

Recently, Diamondjack.top service surfaced, promoting itself as a place where you can safely store cryptocurrency and other assets. I managed to gather credible supporting information that clearly indicates it is, in fact, a deceptive site.

Despite the promises of the most user-friendly, dependable, and client-friendly service, Diamondjack.top does not offer any of them. All this is just a golden wrap around a dirty scam, which steals your money and never gives them back. Any tales about bonuses, endorsement from celebrities etc are absent as well.

Diamondjack Scam Overview

Originally, Diamondjack poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another highlighted selling point for this platform is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, rascals employ AI-generated videos with those celebs promote the scam as if it was the best thing in the world. For obvious reasons, 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.

Diamondjack Scam

Initially, Diamondjack shares the layout of numerous similar websites. There are quite a few examples, like Gmb1l, Lorunix or Rolsxcas. They are entirely indistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Most likely, all these deceptive websites are led by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Diamondjack Scam Works?

Diamondjack is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use various website designs, which still share the similar 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 start the fraud, criminals set up and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Utilizing bots and paid promotions (when achievable), fraud actors boost the exposure of their fraudulent activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the aforementioned celebrities that advertise 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 Diamondjack in TikTok. Most of these videos are AI-generated deepfakes

Users get a stimulus to register, drawn by the commitment of receiving crypto rewards 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 claims are entirely baseless.

Step 2: Gaining Traffic

After clicking the promotions, targets end up on a page filled with attractive offers. “Crypto starts with Diamondjack”, “Your crypto savings are secured with Diamondjack, “Start earning with Diamondjack – they look rather authoritative. To heat up users and make them proceed to step 3, scammers say that retrieving the promoted bonus requires registration. And as nothing suspicious happens at this point, uninformed users happily keep on – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you sign up using your personal info, 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 mentioned, scammers bait folks for registration with bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, crooks 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, you need to 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

Obviously, any cryptocurrency operations require you to have capital on your account. With Diamondjack, users are also forced to top up to get the bonuses. And these top ups is what creates the majority of the money 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 engaging on this site hoping to use all the transferred money and withdraw them.

This, however, is where the victim notices the problems. When comparing 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 retrieve 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. Though to make the fraud look more realistic, they’ve made up a whole pack of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client requirements say, but for the Diamondjack.top they are here only to make the withdrawal impossible.

By asking for your personal data, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your funds back. And every check will reveal more and more information, which – you guessed it right – will be then traded 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 Diamondjack.top. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Diamondjack 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%, Diamondjack exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Diamondjack as a scam.
• Dubious Corporate Information. Diamondjack 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. Diamondjack.top 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. Diamondjack 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 Diamondjack 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 duration of the scam, its actors may reach out to you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we earlier figured out, these deceivers have no intent of returning 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 willingly running harmful programs onto your system.

Both plugins and attachments attached to email messages can act as a carrier for various malware. In this case, I foresee the presence of spyware and stealers among all kinds of malware. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As stated, their ethics is of little concern, and their dignity is already neck deep in mud. They have no scruples to give up and intend to boost profits.

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