We Looked Into Facexel: Scam or Trustworthy? The Verdict

Recently, Facexel.com service appeared, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible evidence that clearly indicates it is, actually, a deceptive platform.

Despite what Facexel site says, they won’t pay off your funds. Despite the numbers displayed in the “member area”, there is zero way to retrieve even a coin. All commitments regarding crypto incentives are baseless as well.

Facexel Scam Overview

The key service that Facexel aims to provide is a safe and user-friendly crypto wallet service. The site pledges exchange services, tools for managing wallets, transfers, dashboards, and the like. In fact, they endeavor to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it actually exclusively serves as a shell intended to mislead the cautious.

Facexel Scam

First and foremost, Facexel mimics the layout of numerous equivalent websites. There are quite a few examples, like Coinxleak, Rompwex or Merckex. They are entirely undistinguishable in terms of graphic elements, with small discrepancies in the website header. Other particulars, and at times even crypto wallet addresses, are unchanged. Probably, all these deceptive sites are operated by a single group of swindrels.

Cryptocurrency Scam Summary

How the Facexel Scam Works?

Facexel is yet another website within a vast network of linked crypto deceptive sites. The operators employ diverse brand identities and websites, like Facexel.com, to ensnare victims. Nonetheless, these deceptive websites have in common identical designs, terms of service, and About Us information. This exposes their beginnings as parts of the equal criminal network, which promotes the identical form of deception under diverse disguises. The fraudsters merely copy the same scam site under diverse names to fool users into thinking they are participating in a fresh opportunity. However, in reality, it’s the equal system of scammers orchestrating the misleading promises and undertakings to seize deposited funds. The operators skillfully utilize psychological maneuvers and enticing offers to implement their dishonest plans.

Step 1: Spreading

To initiate the deceptive scheme, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and paid promotions (when possible), fraud actors intensify the presence of their fraudulent activities to possible victims. This approach permits them to create an extensive net and interact with their aimed spectators. The latter commonly comprises of cryptocurrency enthusiasts searching for opportunities to earn profits.

Step 2: Gaining Traffic

Individuals who demonstrate interest go to Facexel.com via links featured in promotions or bot-generated posts. The site utilizes captivating visuals, design elements that appear genuine, and claims of possessing a valid license, all intended to convey an initial image of trustworthiness.

Step 3: Data Gathering

To redeem their benefits, users are required to proactively sign up on Facexel and receive guidance to submit sensitive and private data throughout the sign-up process. This comprises linking their cryptocurrency wallets, providing email addresses, giving phone numbers, sending in identification papers, and more.

Step 4: Requesting funds

Once registered, users observe significant amounts of cryptocurrency, valued at thousands of dollars, within their Facexel wallets. Nevertheless, as is common with such rewards, you cannot withdraw them before making a deposit. Normally, a deposit of $100 is required to withdraw the sign-up bonus. This prerequisite serves as the trap that eventually results to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Facexel 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 duration of the scam, its masters may reach out to you with particular files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we already figured out, these deceivers have no intent of restoring your money. So, what do these email messages and browser extensions represent? You guessed it right – that is another component of the fraudulent scheme designed to throw you into willingly running destructive software onto your system.

Both plugins and files included to email messages can act as a shell for different malicious software. In this case, I expect the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always existent. As stated, their conscience is of negligible importance, and their reputation is already seriously marred. They have nothing to give up and strive to boost profits.

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