We Investigated Exwaxe: Legit or Scam? The Facts

Recently, Exwaxe.com site surfaced, promoting itself as a place where you can securely keep cryptocurrency and other assets. I managed to gather reliable supporting information that unmistakably confirms it is, actually, a deceptive platform.

Despite what Exwaxe site says, they will never pay off your money. Even though the money displayed in the “member area”, there is zero means to take out even a single cent. All commitments regarding crypto incentives are baseless 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.

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Exwaxe Scam Overview

The main offering that Exwaxe strives to provide is a safe and user-friendly cryptocurrency wallet service. The site promises exchange services, tools for handling wallets, transfers, dashboards, and similar functions. In reality, they try to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in actuality exclusively serves as a cover intended to mislead the cautious.

Exwaxe Scam

First and foremost, Exwaxe mimics the appearance of multiple equivalent websites. There are quite a few examples, like Gentlexpay, Hayderbid or Heyderbid. They are completely identical in terms of graphic elements, with slight discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are unchanged. Probably, all these deceptive online platforms are led by a single group of fraudsters.

Cryptocurrency Scam Summary

How the Exwaxe Scam Works?

Exwaxe is yet another online platform within a extensive network of interconnected crypto deceptive webpages. The administrators employ diverse brand titles and sites, like Exwaxe.com, to capture victims. However, these fraudulent sites share the same designs, terms of service, and About information. This unveils their sources as parts of the same criminal network, which endorses the same type of fraud under various covers. The deceivers simply replicate the identical deceptive site under diverse names to mislead users into thinking they are enrolling a fresh venture. However, in reality, it’s the identical group of fraudsters orchestrating the deceptive pledges and attempts to grab deposited funds. The managers cleverly utilize psychological strategies and appealing offers to execute their deceitful plots.

Step 1: Spreading

To initiate the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and paid advertisements (when possible), fraud actors boost the visibility of their scam activities to possible victims. This strategy permits them to cast a wide net and connect with their aimed spectators. This group commonly comprises of cryptocurrency enthusiasts seeking opportunities to make profits.

Users get an incentive to register, drawn by the promise of obtaining crypto benefits valued at thousands of dollars, all for free. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Individuals who show interest visit Exwaxe.com via links present in ads or bot-generated posts. The webpage utilizes captivating visuals, design features that appear authentic, and assertions of possessing a official license, all intended to convey an initial image of credibility.

Step 3: Data Gathering

To collect their rewards, users need to actively sign up on Exwaxe and receive guidance to provide sensitive and personal data during the enrollment procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, submitting identification papers, and the like.

Step 4: Requesting funds

Once signed up, users observe substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Exwaxe wallets. Nonetheless, as it usually happens with such incentives, you are unable to withdraw them ahead of making a deposit. Usually, a payment of $100 is required to withdraw the sign-up bonus. This prerequisite serves as the enticement that ultimately results to the money loss.

Step 5: Disappear

The point in time the deposit is submitted, the fraudsters terminate all interaction. They move forward to bar users, remove accounts, and vanish with both the submitted funds and vital private data. The phony rewards remain perpetually uncredited, as they lack real existence. They act solely as a deceptive maneuver. This approach forms the foundation for the scammers’ capacity to deceive victims and steal hard-earned funds through their duplicative web crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Exwaxe 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 duration of the scam, scoundrels may reach out to you with specific documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto assets. As we previously determined, these scoundrels have no intent of restoring your money. So, what can these email messages and browser plugins represent? You guessed it right – that is another component of the fraudulent scheme designed to throw you into deliberately installing harmful software onto your computer.

Both add-ons and attachments included to email messages can function as a shell for diverse malware. In this scenario, I expect the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As noted, their ethics is of no concern, and their reputation is already deeply compromised. They have no scruples to give up and intend 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:

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

The truth about Exwaxe

Name: Exwaxe

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