We Investigated Elonxus: Legit or Scam? The Facts

Recently, Elonxus.com service appeared, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible evidence that unmistakably reveals it is, in truth, a scam service.

Regardless of the promises of the most convenient, reliable, and client-friendly service, Elonxus.com does not fulfill any of them. All this is just a shiny wrap around a blatant scam, which takes your money and data and never gives them back. Any tales about bonuses, backing from celebrities etc are nowhere to be found as well.

Elonxus Scam Overview

Originally, Elonxus poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another bright marketing point for this site is partnerships with celebrities that have relation to the crypto world. 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, frauds use deepfake videos with those celebs advertise the scam as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a blatant wrap around an obvious scam.

Elonxus Scam

To begin with, Elonxus repeats the design of multiple similar websites. There are quite a few examples, like Solanely, Xenlumix or Nelumex. They are entirely indistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other details, and sometimes even crypto wallet addresses, are matching. Probably, all these deceptive websites are led by the same gang of swindrels.

Cryptocurrency Scam Summary

How the Elonxus Scam Works?

Elonxus is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use numerous website designs, which still share the similar overall layout. Another mutual 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 start the fraud, criminals establish and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and paid ads (when achievable), scam actors intensify the presence of their deceptive activities to possible victims. And as I said, crooks do not shy away using generative AI for creating videos with the mentioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

Promotions of cryptoscams like Elonxus in TikTok. Most of these videos are AI-generated deepfakes

Users receive a stimulus to enroll, drawn by the promise of getting cryptocurrency rewards valued at hundreds of dollars, all without cost. To increase the attractiveness of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After following the ads, targets end up on a page filled with attractive offers. “Crypto starts with Elonxus”, “Your crypto savings are secured with Elonxus, “Start earning with Elonxus – they look rather authoritative. To heat up users and make them proceed to step 3, fraudsters say that retrieving the promised bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily move on – especially as 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 data, frauds will not earn even a penny from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just mentioned, scammers bait folks into signing up for bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, the user should top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

It is obvious that any crypto purchases require you to have money on your account. In the case of Elonxus, users are also forced to top up to use the bonuses. And these top ups is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the deposited funds and withdraw them.

This, however, is where the first obvious issues start to surface. When keeping an eye on the real crypto wallet vs what the website says, you can notice 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 fraudsters are naught on intentions to send you money. Though to make it look more realistic, they’ve crafted a whole pack of reasons to decline the withdrawal request. Most of them repeat what Know Your Client requirements say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal info, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your grand back. And every check will uncover more and more information, which – you guessed it right – will be then traded 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 Elonxus.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Elonxus.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. Elonxus 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. Elonxus 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. Elonxus 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%, Elonxus capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Elonxus.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Elonxus 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 fraud, its masters may reach out to you with specific documents. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we previously figured out, these rascals have no intent of returning your money. So, what can these messages and browser extensions represent? Correct – this is another element of the fraudulent scheme designed to throw you into deliberately running harmful programs onto your device.

Both add-ons and files attached to email messages can act as a shell for diverse malicious software. In this situation, I expect the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As noted, their morality is of negligible importance, and their reputation is already deeply compromised. They have nothing to give up and intend to boost gains.

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