Investigating Ellbit: Legit or Scam? The Truth Revealed

Recently, Ellbit.com site surfaced, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible evidence that unmistakably reveals it is, actually, a fraudulent service.

Despite what Ellbit site states, they will never give back your capital. Regardless of the figures displayed in the “member area”, there is no way to take out even a penny. All commitments regarding crypto incentives are baseless as well.

It is better to prevent, than repair and repent!

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Ellbit Scam Overview

The main service that Ellbit attempts to provide is a safe and convenient crypto wallet service. The website pledges exchange solutions, tools for handling wallets, transfers, dashboards, and similar functions. In reality, they aim to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it in fact solely serves as a shell intended to lull the vigilance.

Ellbit Scam

To begin with, Ellbit reproduces the appearance of multiple similar websites. There are quite a few examples, like Jeffiwex, Jeffryx or Teslaxusa. They are totally indistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these fraudulent sites are operated by the same team of swindrels.

Cryptocurrency Scam Summary

How the Ellbit Scam Works?

Ellbit is yet another website within a wide-ranging network of linked crypto scam platforms. The administrators employ various brand names and websites, like Ellbit.com, to ensnare victims. However, these deceptive websites possess matching website designs, terms of service, and About content. This unveils their sources as a part of the identical criminal network, which endorses the identical type of scam under various disguises. The fraudsters merely replicate the same scam site under diverse names to deceive users into thinking they are enrolling a fresh venture. However, in reality, it’s the same system of swindlers orchestrating the deceptive commitments and attempts to grab deposited cryptocurrency. The managers cleverly utilize psychological strategies and enticing offers to execute their unscrupulous schemes.

Step 1: Spreading

To start the scam, criminals set up and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and sponsored ads (when feasible), fraud actors boost the exposure of their fraudulent activities to possible victims. This approach allows them to cast a broad net and engage with their aimed viewers. This public usually consists of cryptocurrency fans seeking prospects to make profits.

Users obtain an encouragement to enroll, drawn by the promise of getting crypto prizes valued at thousands of dollars, all for free. To increase the attractiveness of the offer, fake claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Users who show interest go to Ellbit.com via links featured in advertisements or bot-generated posts. The webpage utilizes captivating visuals, design elements that appear legitimate, and assertions of possessing a valid license, all intended to project an initial image of credibility.

Step 3: Data Gathering

To collect their benefits, users need to actively create an profile on Ellbit and receive instructions to submit sensitive and private data during the sign-up process. This includes linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, furnishing identification papers, and more.

Step 4: Requesting funds

Once enrolled, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Ellbit wallets. However, as it usually happens with such incentives, you can’t withdraw them ahead of making a deposit. Normally, a funds transfer of $100 is required to access the sign-up bonus. This stipulation serves as the snare that eventually culminates to the money loss.

Step 5: Disappear

The moment the funds transfer is sent, the scammers cease all communication. They go ahead to block users, delete accounts, and abscond with both the transferred money and essential private details. The fictitious rewards persist perpetually uncredited, as they lack genuine existence. They operate solely as a fraudulent ploy. This technique forms the foundation for the scammers’ capability to trick victims and steal hard-earned money through their double-dealing web crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Ellbit 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 fraud, its actors may get in touch with you with particular files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we previously determined, these rascals have no plan of restoring your capital. So, what can these messages and browser add-ons represent? You guessed – this is another element of the scam designed to throw you into deliberately installing malicious programs onto your computer.

Both plugins and files added to emails can function as a shell for different malicious software. In this situation, I expect the presence of spyware and stealers among other kinds of threats. While it is not obligatory for scammers to distribute malware, the chance is always above zero. As stated, their ethics is of little concern, and their dignity is already neck deep in mud. They have no principles to give up and aim to boost profits.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

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8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

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Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

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Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Ellbit

Name: Ellbit

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Ellbit, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Ellbit scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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