We Looked at the Evidence: Is Elxnbit Legit or Scam?

Recently, Elxnbit.com site appeared, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible evidence that clearly indicates it is, actually, a deceptive service.

Contrary to the assertions of Elxnbit.com, they won’t refund your capital. Even though the numbers displayed in the “member area”, there is no means to withdraw even a single cent. All promises regarding crypto bonuses are baseless as well.

It is better to prevent, than repair and repent!

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Elxnbit Scam Overview

The primary offering that Elxnbit aims to provide is a protected and convenient cryptocurrency wallet service. The website pledges crypto exchange facilities, tools for handling wallets, transfers, dashboards, and similar functions. In truth, they aim to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in actuality exclusively serves as a cover needed to fool the cautious.

Elxnbit Scam

Initially, Elxnbit imitates the appearance of many equivalent online platforms. There are quite a few examples, like Droydex, Cryptoxup or Coinxbeast. They are totally indistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are identical. Probably, all these deceptive sites are led by the same gang of frauds.

Cryptocurrency Scam Summary

How the Elxnbit Scam Works?

Elxnbit is yet another website within a wide-ranging network of linked crypto scam platforms. The operators employ diverse brand titles and sites, like Elxnbit.com, to trap victims. Nevertheless, these false sites share the same website designs, terms of service, and About content. This reveals their beginnings as a part of the identical scam network, which advocates the same type of fraud under various appearances. The fraudsters simply copy the identical fraudulent website under various names to fool users into assuming they are participating in a new platform. However, in actuality, it’s the equal system of swindlers orchestrating the fraudulent commitments and attempts to take deposited cryptocurrency. The operators cleverly utilize psychological strategies and captivating offers to execute their dishonest plans.

Step 1: Spreading

To start the scam, criminals establish and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and sponsored advertisements (when feasible), scam actors boost the visibility of their scam activities to potential victims. This strategy allows them to cast a broad net and engage with their focused audience. This group typically comprises of cryptocurrency enthusiasts looking for prospects to generate profits.

Users get an encouragement to sign up, attracted by the commitment of getting crypto benefits valued at hundreds of dollars, all without cost. To augment the appeal of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Users who express interest check out Elxnbit.com via links featured in advertisements or robotic posts. The webpage employs captivating visuals, design elements that appear legitimate, and assertions of having a legitimate license, all aimed to present an initial image of credibility.

Step 3: Data Gathering

To claim their benefits, users are required to deliberately sign up on Elxnbit and get prompts to provide sensitive and personal data throughout the sign-up process. This comprises linking their cryptocurrency wallets, revealing email addresses, giving phone numbers, furnishing identification documents, and more.

Step 4: Requesting funds

Once registered, users witness considerable amounts of cryptocurrency, valued at thousands of dollars, within their Elxnbit wallets. However, as is common with such bonuses, you cannot withdraw them ahead of topping up your account. Usually, a payment of $100 is required to withdraw the sign-up bonus. This condition serves as the snare that eventually culminates to the money loss.

Step 5: Disappear

The point in time the payment is sent, the scammers cease all contact. They go ahead to bar users, delete accounts, and vanish with both the transferred funds and critical individual details. The fabricated rewards continue to be perpetually uncredited, as they lack real existence. They act solely as a fraudulent maneuver. This method forms the foundation for the scammers’ capability to mislead victims and misappropriate hard-earned money through their duplicative online crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Elxnbit 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 reach out to you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we already determined, these scammers have no intention of returning your funds. So, what do these email messages and browser plugins represent? Correct – that is another component of the deceptive plan designed to throw you into willingly installing malicious software onto your system.

Both extensions and attachments added to email messages can act as a shell for various malicious code. In this scenario, I foresee the presence of spyware and stealers among other forms of malware. While it is not mandatory for scammers to distribute malware, the chance is always above zero. As noted, their morality is of no concern, and their reputation is already deeply compromised. They have no scruples to lose and aim to maximize 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:

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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 Elxnbit

Name: Elxnbit

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