Investigating Dibitcoin: Legit or Scam? The Truth Revealed

Recently, Dibitcoin.com service appeared, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible supporting information that clearly confirms it is, in truth, a deceptive platform.

Regardless of the promises of the most user-friendly, reliable, and client-friendly service, Dibitcoin.com does not offer any of them. In fact, all this is just a golden wrap around a dirty scam, which steals your funds and never returns them. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

Dibitcoin Scam Overview

Originally, Dibitcoin poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another bright selling point for this service is backing from celebrities that are known as crypto activists. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, rascals use deepfake videos where those celebrities promote the fraud as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Dibitcoin Scam

Initially, Dibitcoin shares the design of numerous equivalent pages. There are quite a few examples, like Folanex, Flenory or Fenotix. They are entirely indistinguishable in terms of visual elements, with minor discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are the same. Probably, all these deceptive websites are operated by a single gang of scoundrels.

Cryptocurrency Scam Summary

How the Dibitcoin Scam Works?

Dibitcoin is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use several website designs, which still share the similar overall layout. Another shared 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 begin the fraud, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Employing bots and paid ads (when possible), scam actors intensify the presence of their scam activities to possible victims. And as I said, crooks do not shy away using generative AI for creating clips with the aforementioned celebs 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 Dibitcoin in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

Upon following the promotions, victims end up on a page filled with appealing offers. “Crypto starts with Dibitcoin”, “Your crypto savings are secured with Dibitcoin, “Start earning with Dibitcoin – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that obtaining the pledged bonus requires registration. And as nothing suspicious happens at this point, uninformed users happily proceed – especially since the gift 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 register using your personal information, crooks 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 said, scammers 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 info 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 promised bonus right away. To make at least crypto purchases on the platform with it, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any crypto operations require you to have capital on your account. With Dibitcoin, users are also compelled to top up to use the bonuses. And this is what creates most of the money flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited funds and withdraw them.

This, however, is where the issues start to surface. When keeping an eye on the actual crypto wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to pull out the funds 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 fraud look more realistic, they’ve developed a whole bunch of reasons to decline the transfer-out request. Most of them repeat what Know Your Client regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal info, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And every check will reveal more and more info of yours, 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 Dibitcoin.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Dibitcoin 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, its actors may reach out to you with particular documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we earlier figured out, these scammers have no intent of giving back your funds. So, what can these email messages and browser plugins represent? Correct – that is another side of the fraudulent scheme designed to entice you into deliberately running harmful applications onto your device.

Both plugins and attachments included to emails can function as a carrier for diverse malware. In this case, I foresee the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As stated, their ethics is of little concern, and their reputation is already neck deep in mud. They have no principles to give up and intend to boost gains.

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