We Investigated Elonbitex: Legit or Scam? The Facts

Recently, Elonbitex.com website surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible proof that clearly confirms it is, actually, a fraudulent site.

Despite what Elonbitex site states, they will never give back your money. Regardless of the figures displayed in the “member area”, there is absolutely no ability to withdraw even a single cent. All commitments regarding crypto rewards are hollow as well.

It is better to prevent, than repair and repent!

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Elonbitex Scam Overview

The key offering that Elonbitex strives to provide is a protected and user-friendly crypto wallet service. The site promises crypto exchange services, tools for controlling wallets, transfers, dashboards, and similar functions. In fact, they try to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in fact solely serves as a shell needed to fool the cautious.

Elonbitex Scam

To begin with, Elonbitex imitates the design of many equivalent online platforms. There are quite a few examples, like Fezorex, Gutoxe or Ilon. They are entirely identical in terms of graphic elements, with minor discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are identical. Probably, all these scam sites are operated by the same gang of frauds.

Cryptocurrency Scam Summary

How the Elonbitex Scam Works?

Elonbitex is yet another online platform within a vast network of interconnected crypto deceptive sites. The managers utilize different brand titles and websites, like Elonbitex.com, to trap victims. However, these deceptive websites share the same website designs, terms of service, and About Us information. This unveils their sources as parts of the identical fraudulent network, which advocates the same form of deception under different covers. The deceivers simply copy the equal scam website under various names to fool users into thinking they are joining a new platform. However, in actuality, it’s the identical group of swindlers orchestrating the misleading pledges and efforts to seize deposited money. The operators cleverly utilize psychological maneuvers and appealing propositions to implement their unscrupulous schemes.

Step 1: Spreading

To start the scam, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and sponsored promotions (when feasible), fraud actors increase the exposure of their fraudulent activities to potential victims. This tactic enables them to create an extensive net and engage with their targeted audience. The latter typically comprises of cryptocurrency fans searching for opportunities to earn profits.

Users obtain an incentive to sign up, attracted by the commitment of getting crypto benefits valued at hundreds of dollars, all free of charge. To increase the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

People who demonstrate interest go to Elonbitex.com via links included in ads or bot-generated posts. The site uses captivating visuals, design elements that appear authentic, and claims of having a legitimate license, all designed to convey an initial impression of credibility.

Step 3: Data Gathering

To redeem their prizes, users are required to deliberately sign up on Elonbitex and receive prompts to provide sensitive and personal data during the enrollment process. This includes linking their cryptocurrency wallets, sharing email addresses, giving phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once registered, users observe significant amounts of cryptocurrency, valued at thousands of dollars, within their Elonbitex wallets. Nevertheless, as is common with such bonuses, you are unable to withdraw them before topping up your account. Typically, a deposit of $100 is asked to withdraw the sign-up bonus. This stipulation serves as the enticement that ultimately results to the money loss.

Step 5: Disappear

The instant the deposit is submitted, the scammers terminate all contact. They move forward to block users, erase accounts, and vanish with both the deposited funds and vital private details. The fictitious rewards continue to be perpetually uncredited, as they lack genuine existence. They function purely as a fraudulent strategy. This technique forms the foundation for the scammers’ ability to mislead victims and steal hard-earned funds through their double-dealing internet-based crypto scam.

Signs of Scam

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

• Absent company details. Elonbitex 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 Elonbitex 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 Elonbitex, 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 Elonbitex is a definite scam.

What Should I do as a Victim?

If you had to deal with Elonbitex 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 the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

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, its masters may get in touch with you with particular files. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we previously figured out, these scammers have no intention of returning your capital. So, what can these emails and browser add-ons represent? Correct – this is another component of the deceptive plan designed to entice you into willingly running malicious software onto your device.

Both add-ons and files attached to emails can act as a shell for diverse malicious code. In this case, I anticipate the presence of spyware and stealers among all forms of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their morality is of little concern, and their reputation is already seriously marred. They have nothing to lose and aim to boost gains.

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.

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

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.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

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.

4. Once the installation is complete, launch Trojan Killer.

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 Elonbitex

Name: Elonbitex

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Elonbitex, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Elonbitex 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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