We Investigated Ebitxs: Legit or Scam? The Facts

Recently, Ebitxs.com service appeared, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible evidence that clearly indicates it is, in truth, a deceptive platform.

Despite what Ebitxs site states, they will never refund your capital. Regardless of the money displayed in the “member area”, there is no means to withdraw even a single coin. All promises regarding crypto bonuses are empty as well.

Ebitxs Scam Overview

The main service that Ebitxs strives to provide is a secure and user-friendly crypto wallet service. The site promises exchange services, tools for controlling wallets, transfers, dashboards, and similar stuff. In fact, they try to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it in actuality exclusively serves as a shell needed to lull the vigilance.

Ebitxs Scam

To begin with, Ebitxs mimics the layout of multiple similar websites. There are quite a few examples, like Colibriex, Royal or Bitovex. They are entirely indistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are identical. Most likely, all these scam sites are managed by the same group of fraudsters.

Cryptocurrency Scam Summary

How the Ebitxs Scam Works?

Ebitxs is yet another online platform within a vast network of associated crypto deceptive webpages. The managers utilize diverse brand identities and websites, like Ebitxs.com, to ensnare victims. However, these false websites possess matching designs, terms of service, and About information. This exposes their beginnings as a part of the same scam network, which promotes the identical type of fraud under diverse disguises. The fraudsters simply copy the equal fraudulent website under diverse names to deceive users into assuming they are participating in a new venture. However, in reality, it’s the equal group of fraudsters orchestrating the misleading promises and efforts to take deposited funds. The operators cleverly utilize psychological tactics and captivating propositions to execute their deceitful plans.

Step 1: Spreading

To start the deceptive scheme, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Employing bots and paid advertisements (when possible), fraud actors intensify the visibility of their fraudulent activities to potential victims. This approach allows them to create a broad net and connect with their aimed audience. The group commonly comprises of cryptocurrency fans seeking opportunities to earn profits.

Users receive an encouragement to enroll, drawn by the assurance of obtaining crypto benefits valued at thousands of dollars, all without cost. To augment the attractiveness of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Individuals who express interest visit Ebitxs.com via links included in ads or robotic posts. The site uses captivating visuals, design features that appear legitimate, and claims of having a valid license, all intended to project an initial perception of trustworthiness.

Step 3: Data Gathering

To collect their benefits, users must deliberately sign up on Ebitxs and receive instructions to submit sensitive and personal data throughout the sign-up process. This includes linking their cryptocurrency wallets, revealing email addresses, specifying phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once enrolled, users notice substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Ebitxs wallets. Nevertheless, as is typical with such rewards, you are unable to withdraw them prior to topping up your account. Normally, a funds transfer of $100 is required to withdraw the sign-up bonus. This stipulation serves as the enticement that ultimately culminates to the money loss.

Step 5: Disappear

The point in time the funds transfer is sent, the fraudsters halt all interaction. They go ahead to block users, delete accounts, and disappear with both the submitted money and vital individual information. The fabricated benefits remain perpetually uncredited, as they lack real existence. They act solely as a deceptive strategy. This method forms the foundation for the deceivers’ capacity to mislead victims and embezzle hard-earned money through their duplicative online crypto fraud.

Signs of Scam

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

• Absent company details. Ebitxs does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Ebitxs like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Ebitxs, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Ebitxs is a definite scam.

What Should I do as a Victim?

If you had to deal with Ebitxs 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, scoundrels may contact you with particular documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we already determined, these scammers have no plan of restoring your funds. So, what do these messages and browser add-ons represent? You guessed it right – that is another component of the scam designed to entice you into willingly running harmful applications onto your computer.

Both add-ons and files added to emails can serve as a carrier for diverse malicious software. In this scenario, I anticipate the presence of spyware and stealers among all kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As noted, their morality is of no concern, and their dignity is already deeply compromised. They have no scruples to lose and strive to maximize revenues.

Frequently asked questions