Recently, Dipxrend.com service popped up, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather credible supporting information that clearly indicates it is, actually, a scam platform.
Regardless of the promises of the most convenient, reliable, and customer-centric service, Dipxrend.com does not offer any of them. All this is just a gilded wrap around a blatant scam, which steals your funds and never returns them. Any stories about bonuses, endorsement from celebrities etc are absent as well.
Dipxrend Scam Overview
Originally, Dipxrend poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another highlighted marketing 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, con actors employ AI-generated videos where those celebrities advertise the fraud as the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.
Dipxrend Scam
To begin with, Dipxrend copies the layout of numerous similar online platforms. There are quite a few examples, like Bitsefix, Bitrys or Binecy. They are entirely identical in terms of visual elements, with small discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are identical. Probably, all these fraudulent websites are operated by the same group of scoundrels.
Cryptocurrency Scam Summary
| Website | Dipxrend.com |
| Hosting | AS13335 Cloudflare, Inc. United States, San Francisco |
| IP Address | 188.114.96.3 |
| Threat Type | Scam/Fraud |
| Scam Type | Fraudulent offers of cryptocurrency services |
How the Dipxrend Scam Works?
Dipxrend is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the same 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 sophisticated 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 fraud, criminals create and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Utilizing bots and paid advertisements (when achievable), fraud actors boost the visibility of their deceptive activities to potential victims. And as I said, scammers do not shy away using generative AI for creating videos with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.
Promotions of cryptoscams like Dipxrend in TikTok. Most of these videos are AI-generated deepfakes
Users get an incentive to register, attracted by the assurance of receiving crypto benefits valued at hundreds of dollars, all without cost. To increase the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.
Step 2: Gaining Traffic
After clicking the promotions, targets end up on a page filled with enticing offers. “Crypto starts with Dipxrend”, “Your crypto savings are secured with Dipxrend, “Start earning with Dipxrend – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that getting the promoted bonus requires registration. And as nothing suspicious happens at this point, unaware users happily move on – especially since the bonus appears to be right behind the corner.
This is the last stage when it is possible to steer away from the scam without any losses. Before you register using your personal info, rascals will not 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, frauds bait folks into registration to get bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Only by gathering this information and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.
As it turns out, the alleged 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 equivalent sum. And this is what initiates the final stage of the scam.
Step 4: Requesting funds
It is obvious that any crypto purchases require you to have money on your account. In the case of Dipxrend, users are also coerced to top up to use the bonuses. And these top ups is what creates most of the money flow to this fraudulent website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the credited capital and withdraw them.
This is where the first obvious problems start to surface. When keeping an eye on 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 funds from your account, the scam is finally uncovered to the user.
Step 5: Escaping from Funds Withdrawal
Needless to say that swindlers are naught on intentions to give your money back. Though to make it look more legitimate, they’ve elaborated a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC requirements say, but for the Dipxrend.com they are here exclusively to make the withdrawal impossible.
By requesting your personal info, 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 funds back. And each of these checks will uncover more and more info of yours, 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 Dipxrend.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Unsubstantiated Credibility. Dipxrend 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%, Dipxrend exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Dipxrend as a scam.
- Dubious Corporate Information. Dipxrend 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. Dipxrend.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. Dipxrend 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 Dipxrend 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 scam, rascals may contact you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we already figured out, these scoundrels have no intent of returning your funds. So, what do these email messages and browser add-ons represent? You guessed – this is another side of the fraudulent scheme designed to entice you into willingly running destructive applications onto your system.
Both add-ons and attachments added to email messages can serve as a shell for different malicious code. In this situation, I expect the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their morality is of no concern, and their reputation is already seriously marred. They have no principles to lose and intend to maximize profits.
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Frequently asked questions
The vast majority of information posted on the Dipxrend site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.
No, there is no legitimate information on the Dipxrend site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.
Unfortunately, recovering funds lost to a scam like Dipxrend can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.
Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:
- Too Good to Be True Promises. Be cautious of offers that promise unrealistically high returns or guaranteed profits. If an investment opportunity sounds too good to be true, it likely is.
- Pressure to Act Quickly. Scammers often use tactics like creating a sense of urgency to pressure you into making quick decisions. Legitimate investments allow you time to research and consider your options.
- Lack of Regulation or Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.
- Social Proof and Celebrity Endorsements: Be skeptical of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
- Check for Reviews and Feedback: Look for independent reviews and feedback from other traders. Scammers may fabricate positive reviews, but negative reviews can provide valuable insights.
If you have become a victim of a Dipxrend or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:
- Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
- Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
- Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
- Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
- Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
- Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
- Thoroughly Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
The truth about Dipxrend
Name: Dipxrend
Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Dipxrend, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Dipxrend scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.
Operating System: All
Application Category: Crypto Scams
