Investigating Entrixbit: Legit or Scam? The Truth Exposed

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

Despite what Entrixbit site states, they won’t refund your funds. Despite the numbers displayed in the “member area”, there is no ability to take out even a single penny. All promises regarding crypto incentives are hollow as well.

Entrixbit Scam Overview

The main service that Entrixbit aims to provide is a secure and user-friendly crypto wallet service. The website pledges exchange solutions, tools for controlling wallets, transfers, dashboards, and similar stuff. In truth, they try to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it in actuality solely serves as a cover needed to fool the cautious.

Entrixbit Scam

To begin with, Entrixbit mimics the appearance of numerous similar pages. There are quite a few examples, like Bityang, Shoudex or Sapatlex. They are entirely identical in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Presumably, all these scam online platforms are led by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Entrixbit Scam Works?

Entrixbit is yet another website within a vast network of linked crypto deceptive platforms. The operators employ diverse brand names and websites, like Entrixbit.com, to trap victims. Nonetheless, these deceptive sites possess identical designs, terms of service, and About Us content. This exposes their sources as parts of the same fraudulent network, which endorses the identical type of fraud under different appearances. The fraudsters merely replicate the equal fraudulent site under diverse names to mislead users into thinking they are enrolling a new opportunity. However, in reality, it’s the equal system of fraudsters orchestrating the deceptive promises and efforts to seize deposited funds. The operators skillfully utilize psychological tactics and captivating invitations to implement their deceitful schemes.

Step 1: Spreading

To initiate the fraud, criminals create and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Using bots and paid ads (when feasible), fraud actors intensify the presence of their scam activities to potential victims. This strategy permits them to cast a broad net and interact with their focused viewers. The latter typically consists of cryptocurrency enthusiastic individuals searching for prospects to make profits.

Step 2: Gaining Traffic

Users who demonstrate interest check out Entrixbit.com via links present in ads or robotic posts. The webpage employs captivating visuals, design elements that appear legitimate, and claims of holding a legitimate license, all designed to present an initial impression of reliability.

Step 3: Data Gathering

To collect their rewards, users need to proactively sign up on Entrixbit and get prompts to submit sensitive and personal data throughout the registration process. This comprises linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification documents, and the like.

Step 4: Requesting funds

Once registered, users witness substantial amounts of cryptocurrency, valued at thousands of dollars, within their Entrixbit wallets. Nevertheless, as it usually happens with such bonuses, you are unable to withdraw them ahead of topping up your account. Usually, a payment of $100 is asked to get the sign-up bonus. This prerequisite serves as the trap that eventually culminates to the money loss.

Step 5: Disappear

The moment the payment is sent, the deceivers halt all interaction. They go ahead to bar users, erase accounts, and vanish with both the transferred capital and essential private information. The fabricated rewards continue to be perpetually uncredited, as they lack genuine existence. They operate exclusively as a phishing ploy. This method forms the foundation for the fraudsters’ capacity to trick victims and steal hard-earned earnings through their double-dealing internet-based crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Entrixbit 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 timeline of the scam, its actors may contact you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we already figured out, these scoundrels have no intent of returning your capital. So, what can these emails and browser plugins represent? Correct – that is another side of the fraudulent scheme designed to entice you into willingly installing destructive programs onto your computer.

Both add-ons and files attached to email messages can serve as a shell for various malicious software. In this case, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always existent. As stated, their ethics is of little concern, and their dignity is already seriously marred. They have nothing to lose and strive to boost gains.

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