We Investigated Exxonex: Legit or Scam? The Facts

Recently, Exxonex.com service popped up, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible evidence that clearly indicates it is, in fact, a scam site.

Contrary to the assertions of Exxonex.com, they won’t give back your capital. Even though the money displayed in the “member area”, there is no possibility to retrieve even a penny. All commitments regarding crypto bonuses are empty as well.

Exxonex Scam Overview

The key offering that Exxonex attempts to provide is a protected and user-friendly cryptocurrency wallet service. The site promises exchange solutions, tools for handling wallets, transfers, dashboards, and similar stuff. In fact, they try to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it actually only serves as a shell needed to lull the vigilance.

Exxonex Scam

Initially, Exxonex reproduces the appearance of many equivalent pages. There are quite a few examples, like Entrixbit, Bityang or Shoudex. They are totally undistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Presumably, all these deceptive sites are managed by a single team of frauds.

Cryptocurrency Scam Summary

How the Exxonex Scam Works?

Exxonex is yet another online platform within a vast network of interconnected crypto deceptive sites. The managers utilize different brand titles and sites, like Exxonex.com, to ensnare victims. Nevertheless, these fraudulent sites have in common identical designs, terms of service, and About information. This unveils their origins as components of the equal criminal network, which advocates the identical type of scam under different covers. The scammers just copy the identical deceptive website under different names to deceive users into believing they are joining a new venture. However, in actuality, it’s the equal group of scammers orchestrating the fraudulent pledges and attempts to seize deposited money. The operators shrewdly employ psychological strategies and captivating propositions to carry out their unscrupulous plots.

Step 1: Spreading

To initiate the deceptive scheme, criminals create and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Using bots and sponsored ads (when possible), fraud actors intensify the visibility of their scam activities to potential victims. This approach enables them to create a broad net and interact with their targeted audience. The latter usually consists of cryptocurrency enthusiasts seeking opportunities to make profits.

Users receive an encouragement to sign up, attracted by the promise of receiving crypto benefits valued at thousands of dollars, all without cost. To enhance the attractiveness of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Individuals who demonstrate interest go to Exxonex.com via links included in advertisements or robotic posts. The site utilizes captivating visuals, design elements that appear genuine, and assertions of holding a legitimate license, all aimed to project an initial image of trustworthiness.

Step 3: Data Gathering

To collect their benefits, users are required to actively create an profile on Exxonex and receive prompts to provide sensitive and private information throughout the registration procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, specifying phone numbers, furnishing identification documents, and more.

Step 4: Requesting funds

Once registered, users notice substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Exxonex wallets. Nonetheless, as it usually happens with such incentives, you cannot withdraw them ahead of making a deposit. Usually, a deposit of $100 is required to get the sign-up bonus. This condition serves as the snare that ultimately culminates to the money loss.

Step 5: Disappear

The point in time the deposit is submitted, the fraudsters halt all interaction. They move forward to block users, remove accounts, and disappear with both the transferred money and vital individual information. The phony rewards continue to be perpetually uncredited, as they lack actual existence. They function exclusively as a deceptive strategy. This technique forms the foundation for the deceivers’ capacity to mislead victims and embezzle hard-earned earnings through their deceptive web crypto scheme.

Signs of Scam

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

• Unsubstantiated Credibility. Exxonex employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Exxonex exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Exxonex as a scam.
• Dubious Corporate Information. Exxonex arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Exxonex.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Exxonex utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Exxonex 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 course of the fraud, scoundrels may reach out to you with specific documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we previously determined, these scoundrels have no intent of restoring your capital. So, what can these messages and browser plugins represent? You guessed – this is another element of the scam designed to entice you into deliberately installing harmful applications onto your system.

Both extensions and files added to email messages can act as a shell for various malicious software. In this situation, I foresee the presence of spyware and stealers among all types of malicious programs. While it is not mandatory for scammers to distribute malware, the chance is always greater than zero. As stated, their ethics is of negligible importance, and their reputation is already severely tarnished. They have no scruples to give up and intend to boost revenues.

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