Forxcas Reviewed: Legit or Total Ripoff? Read This First

Recently, Forxcas.com website popped up, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather reliable proof that clearly indicates it is, actually, a fraudulent service.

Regardless of the promises of the most easy, dependable, and customer-centric service, Forxcas.com does not offer any of them. In fact, all this is just a golden wrap around a clear scam, which takes your money and never gives them back. Any stories about gifts, backing from celebrities etc are non-existent as well.

Forxcas Scam Overview

Originally, Forxcas poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another bright selling point for this service is backing from celebrities that are known in the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, rascals use deepfake videos with those celebs promote the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Forxcas Scam

To begin with, Forxcas shares the layout of many equivalent pages. There are quite a few examples, like Fimecas, Fenutix or Fenax. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are identical. Presumably, all these deceptive websites are led by a single gang of frauds.

Cryptocurrency Scam Summary

How the Forxcas Scam Works?

Forxcas is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the same overall layout. Another mutual 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 legitimacy 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 mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Using bots and paid advertisements (when feasible), scam actors increase the visibility of their scam activities to possible victims. And as I said, crooks do not disdain using generative AI for creating clips with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

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

Users obtain an incentive to sign up, drawn by the assurance of getting cryptocurrency prizes valued at hundreds of dollars, all for free. To augment the appeal of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the promotions, victims end up on a page filled with enticing offers. “Crypto starts with Forxcas”, “Your crypto savings are secured with Forxcas, “Start earning with Forxcas – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that claiming the promised bonus requires registration. And since nothing concerning happens at this point, unaware users happily keep on – especially as the bonus appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal info, frauds will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, scammers bait folks into signing up for bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Only by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the alleged bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

It is obvious that any cryptocurrency operations require having money on your account. With Forxcas, users are also coerced to top up to get the bonuses. And this is what creates most of the cash flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the credited funds and withdraw them.

This is where the problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels are naught on intentions to give your money back. Though to make the denial look more legitimate, they’ve crafted a whole pack of reasons to decline the transfer-out request. Usually, they repeat what KYC guidelines say, but in this case they are here exclusively to make the withdrawal impossible.

By requesting your personal information, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your money back. And each of these checks will reveal more and more information, which – you guessed it right – will be then traded 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 Forxcas.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Forxcas 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 fraud, its actors may get in touch with you with specific documents. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we previously determined, these scammers have no intention of restoring your funds. So, what can these messages and browser add-ons represent? You guessed it right – this is another side of the deceptive plan designed to throw you into willingly installing malicious software onto your device.

Both add-ons and attachments added to emails can function as a shell for different malware. In this case, I foresee the presence of spyware and stealers among all kinds of threats. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As noted, their morality is of little concern, and their reputation is already seriously marred. They have nothing to give up and intend to boost profits.

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