We Investigated Extrobit: Legit or Scam? The Facts

Recently, Extrobit.com service popped up, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable evidence that clearly indicates it is, actually, a scam service.

Despite what Extrobit site says, they won’t refund your money. Regardless of the figures displayed in the “member area”, there is zero possibility to retrieve even a penny. All pledges regarding crypto bonuses are baseless as well.

Extrobit Scam Overview

The key offering that Extrobit strives to provide is a secure and convenient crypto wallet service. The website pledges exchange solutions, tools for managing wallets, transfers, dashboards, and the like. In reality, they endeavor to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in fact only serves as a cover intended to lull the vigilance.

Extrobit Scam

To begin with, Extrobit imitates the layout of multiple equivalent websites. There are quite a few examples, like Duckxup, Bitniko or Startoxe. They are entirely undistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are matching. Probably, all these fraudulent sites are managed by the same group of scammers.

Cryptocurrency Scam Summary

How the Extrobit Scam Works?

Extrobit is yet another webpage within a vast network of interconnected crypto scam webpages. The administrators utilize different brand identities and sites, like Extrobit.com, to capture victims. However, these fraudulent sites possess the same designs, terms of service, and About Us content. This unveils their origins as parts of the same fraudulent network, which endorses the identical mode of scam under different appearances. The scammers merely copy the equal fraudulent site under diverse names to fool users into believing they are joining a new venture. However, in reality, it’s the equal system of swindlers orchestrating the deceptive commitments and undertakings to take deposited money. The managers cleverly make use of psychological maneuvers and captivating propositions to execute their dishonest plans.

Step 1: Spreading

To initiate the scam, criminals establish and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and sponsored advertisements (when feasible), fraud actors intensify the presence of their deceptive activities to potential victims. This approach enables them to cast an extensive net and engage with their targeted viewers. The latter typically comprises of cryptocurrency fans searching for opportunities to generate profits.

Step 2: Gaining Traffic

People who express interest go to Extrobit.com via links present in ads or robotic posts. The webpage employs captivating visuals, design elements that appear authentic, and assertions of holding a official license, all designed to convey an initial perception of reliability.

Step 3: Data Gathering

To claim their prizes, users must proactively set up an profile on Extrobit and get guidance to submit sensitive and private data during the sign-up process. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification documents, and the like.

Step 4: Requesting funds

Once enrolled, users witness significant amounts of cryptocurrency, valued at thousands of dollars, within their Extrobit wallets. Nevertheless, as it usually happens with such incentives, you can’t withdraw them prior to topping up your account. Normally, a payment of $100 is required to get the sign-up bonus. This prerequisite serves as the trap that ultimately results to the money loss.

Step 5: Disappear

The moment the deposit is sent, the fraudsters terminate all interaction. They go ahead to bar users, delete accounts, and abscond with both the transferred money and vital individual information. The fabricated rewards continue to be perpetually uncredited, as they lack real existence. They function solely as a phishing ploy. This technique forms the foundation for the fraudsters’ ability to mislead victims and embezzle hard-earned money through their deceptive online crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Extrobit 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 scam, its masters may contact you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we previously figured out, these rascals have no plan of returning your capital. So, what can these emails and browser extensions represent? Correct – that is another element of the fraudulent scheme designed to entice you into deliberately running malicious software onto your computer.

Both plugins and files attached to emails can act as a carrier for different malicious code. In this case, I expect the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their conscience is of negligible importance, and their dignity is already severely tarnished. They have no scruples to give up and aim to maximize profits.

Frequently asked questions