We Investigated Earnxcoin: Legit or Scam? The Facts

Recently, Earnxcoin.com site surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable proof that unmistakably indicates it is, in truth, a scam platform.

Despite what Earnxcoin site says, they will never refund your money. Despite the money displayed in the “member area”, there is absolutely no way to retrieve even a single cent. All commitments regarding crypto bonuses are empty as well.

Earnxcoin Scam Overview

The primary offering that Earnxcoin strives to provide is a protected and user-friendly crypto wallet service. The website promises exchange solutions, tools for handling wallets, transfers, dashboards, and alike functions. In reality, they try to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it actually exclusively serves as a shell needed to mislead the cautious.

Earnxcoin Scam

Initially, Earnxcoin mimics the design of many equivalent websites. There are quite a few examples, like Dutcoin, Entercoinx or Extezones. They are completely identical in terms of graphic elements, with slight discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are the same. Probably, all these deceptive sites are managed by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Earnxcoin Scam Works?

Earnxcoin is yet another online platform within a wide-ranging network of interconnected crypto deceptive sites. The operators employ diverse brand identities and sites, like Earnxcoin.com, to ensnare victims. Nevertheless, these deceptive websites possess identical designs, terms of service, and About information. This exposes their beginnings as a part of the same fraudulent network, which promotes the identical form of deception under different covers. The deceivers merely copy the equal fraudulent website under different names to deceive users into believing they are participating in a new opportunity. However, in reality, it’s the equal group of swindlers orchestrating the fraudulent promises and undertakings to grab deposited money. The managers shrewdly utilize psychological tactics and appealing offers to execute their dishonest plans.

Step 1: Spreading

To initiate the scam, criminals create and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Using bots and paid advertisements (when achievable), fraud actors intensify the visibility of their deceptive activities to possible victims. This strategy enables them to create a wide net and engage with their targeted audience. The latter usually comprises of cryptocurrency fans searching for prospects to earn profits.

Users get an incentive to register, attracted by the assurance of getting crypto rewards valued at hundreds of dollars, all without cost. To increase the appeal of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

People who show interest go to Earnxcoin.com via links present in advertisements or robotic posts. The website employs captivating visuals, design features that appear authentic, and claims of holding a legitimate license, all designed to present an initial image of reliability.

Step 3: Data Gathering

To claim their benefits, users need to actively set up an profile on Earnxcoin and receive instructions to submit sensitive and personal data throughout the registration process. This comprises linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once registered, users observe considerable amounts of cryptocurrency, valued at thousands of dollars, within their Earnxcoin wallets. Nonetheless, as it usually happens with such bonuses, you cannot withdraw them prior to making a deposit. Typically, a funds transfer of $100 is asked to get the sign-up bonus. This condition serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

The point in time the deposit is made, the scammers halt all communication. They go ahead to block users, remove accounts, and vanish with both the submitted funds and vital personal details. The phony rewards remain perpetually uncredited, as they lack genuine existence. They operate exclusively as a phishing strategy. This technique forms the foundation for the fraudsters’ capability to trick victims and misappropriate hard-earned earnings through their deceptive internet-based crypto scam.

Signs of Scam

I gathered several facts that point at the scammy nature of the Earnxcoin.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Earnxcoin.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Earnxcoin arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Earnxcoin resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Earnxcoin employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Earnxcoin capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Earnxcoin.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Earnxcoin 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, scoundrels may get in touch with you with specific documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we earlier figured out, these deceivers have no intent of restoring your funds. So, what do these messages and browser extensions represent? You guessed – that is another side of the scam designed to throw you into deliberately running malicious applications onto your computer.

Both plugins and attachments added to email messages can function as a shell for various malicious software. In this situation, I anticipate the presence of spyware and stealers among all forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As noted, their ethics is of little concern, and their reputation is already neck deep in mud. They have nothing to give up and intend to boost profits.

Frequently asked questions