Is Explicit Coin FX Legit or Another Scam? The Truth Revealed

Recently, Explicitcoinfx.com site popped up, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather credible supporting information that unmistakably reveals it is, actually, a fraudulent site.

Despite what Explicit Coin FX site says, they won’t return your capital. Even though the money displayed in the “member area”, there is absolutely no ability to withdraw even a cent. All promises regarding crypto incentives are hollow as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

DOWNLOAD NOW

Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon

Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Explicit Coin FX Scam Overview

The primary offering that Explicit Coin FX aims to provide is a protected and convenient crypto wallet service. The website pledges exchange facilities, tools for managing wallets, transfers, dashboards, and similar stuff. In truth, they endeavor to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in actuality only serves as a shell needed to deceive the cautious.

Explicit Coin FX Scam

Initially, Explicit Coin FX imitates the design of many equivalent pages. There are quite a few examples, like Coinexcx, Coinexy or Xemtruck. They are totally identical in terms of visual elements, with slight discrepancies in the site header. Other particulars, and at times even crypto wallet addresses, are the same. Presumably, all these deceptive sites are managed by a single gang of scammers.

Cryptocurrency Scam Summary

How the Explicit Coin FX Scam Works?

Explicit Coin FX is yet another webpage within a extensive network of associated crypto scam webpages. The operators utilize various brand identities and sites, like Explicitcoinfx.com, to trap victims. Nonetheless, these deceptive sites possess matching designs, terms of service, and About Us content. This exposes their sources as components of the identical criminal network, which endorses the same type of fraud under different covers. The scammers just replicate the equal deceptive website under various names to mislead users into assuming they are enrolling a new venture. However, in reality, it’s the same group of swindlers orchestrating the misleading promises and undertakings to take deposited cryptocurrency. The administrators shrewdly utilize psychological strategies and enticing offers to execute their dishonest plots.

Step 1: Spreading

To begin the fraud, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Employing bots and sponsored ads (when feasible), fraud actors boost the presence of their scam activities to possible victims. This tactic permits them to cast a broad net and engage with their aimed audience. The audience usually comprises of cryptocurrency enthusiasts searching for chances to generate profits.

Users obtain an incentive to sign up, attracted by the assurance of obtaining crypto benefits valued at hundreds of dollars, all free of charge. To augment the appeal of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Individuals who show interest visit Explicitcoinfx.com via links present in advertisements or bot-generated posts. The webpage utilizes captivating visuals, design features that appear legitimate, and assertions of having a legitimate license, all aimed to project an initial impression of trustworthiness.

Step 3: Data Gathering

To collect their prizes, users must actively sign up on Explicit Coin FX and get prompts to submit sensitive and personal information during the sign-up procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once enrolled, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Explicit Coin FX wallets. However, as is common with such bonuses, you are unable to withdraw them ahead of making a deposit. Normally, a payment of $100 is asked to withdraw the sign-up bonus. This prerequisite serves as the enticement that ultimately culminates to the money loss.

Step 5: Disappear

The point in time the deposit is submitted, the scammers halt all interaction. They proceed to restrict users, delete accounts, and vanish with both the deposited money and vital individual data. The fabricated rewards remain perpetually uncredited, as they lack real existence. They operate exclusively as a fraudulent ploy. This method forms the foundation for the fraudsters’ ability to trick victims and misappropriate 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 Explicitcoinfx.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Explicit Coin FX 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 course of the fraud, its actors may reach out to you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we already determined, these rascals have no plan of giving back your money. So, what can these messages and browser plugins represent? You guessed it right – this is another component of the scam designed to throw you into deliberately installing malicious applications onto your device.

Both plugins and files added to emails can act as a shell for different malicious code. In this case, I expect the presence of spyware and stealers among all forms of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As previously mentioned, their conscience is of little concern, and their reputation is already deeply compromised. They have no principles to give up and strive 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