We Looked Into Fibitix: Scam or Trustworthy? The Verdict

Recently, Fibitix.com service appeared, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible supporting information that clearly reveals it is, actually, a deceptive site.

Despite the promises of the most convenient, trustworthy, and client-friendly service, Fibitix.com does not follow any of them. All this is just a shiny wrap around a dirty scam, which takes your money and never gives them back. Any stories about bonuses, endorsement from celebrities etc are absent as well.

Fibitix Scam Overview

Originally, Fibitix poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another notable selling point for this service is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, rascals employ deepfake videos where those celebrities advertise the fraud as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Fibitix Scam

Initially, Fibitix shares the layout of many similar pages. There are quite a few examples, like Fundbisinvestment, Martigibit or Mexcak. They are entirely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are matching. Probably, all these deceptive websites are operated by the same gang of swindrels.

Cryptocurrency Scam Summary

How the Fibitix Scam Works?

Fibitix is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the similar overall layout. Another common element are the ways the scams like NAME are promoted, and the manner all this ends up to the victim of the scam. To reach peak efficiency, frauds apply sophisticated psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals create and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and sponsored ads (when possible), scam actors increase the exposure of their deceptive activities to potential victims. And as I said, fraudsters do not shy away using deepfake for creating videos with the mentioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

Promotions of cryptoscams like Fibitix in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

Upon following the promos, targets end up on a page filled with attractive offers. “Crypto starts with Fibitix”, “Your crypto savings are secured with Fibitix, “Start earning with Fibitix – they look rather reliable. To heat up users and make them proceed to step 3, crooks say that retrieving the pledged bonus requires registration. And since nothing concerning happens at this point, unaware users happily proceed – especially since the reward appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you register using your personal information, rascals will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just mentioned, scammers bait folks for registration with bonuses. And all the personal info needed for it – username, email, crypto wallet address – is valuable for user identification. Only by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make at least cryptocurrency purchases on the platform with it, you need to top up the account with the sum of a bonus. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require having funds on your account. In the case of Fibitix, users are also compelled to top up to get the bonuses. And this is what creates the majority of the cash flow to this fraudulent site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the credited money and withdraw them.

This is where the issues start to surface. When comparing the actual cryptocurrency wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have 0 intentions to send you money. Though to make it look more realistic, they’ve crafted a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what KYC requirements say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for your personal info, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your grand back. And each of these checks will reveal more and more information, which – you guessed it right – will be then sold on the Darknet. Never reveal your real info to strangers!

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Fibitix 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 actors may contact you with specific documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we earlier figured out, these deceivers have no intention of returning your capital. So, what can these messages and browser plugins represent? Correct – this is another side of the scam designed to entice you into deliberately running harmful programs onto your device.

Both extensions and files attached to emails can act as a carrier for different malware. In this scenario, I expect the presence of spyware and stealers among other kinds of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As stated, their ethics is of no concern, and their reputation is already severely tarnished. They have no scruples to give up and strive to maximize revenues.

Frequently asked questions