The Fxchpro Scam – Don’t Become the Next Victim

Recently, Fxchpro.com website popped up, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable proof that clearly indicates it is, in truth, a fraudulent site.

Despite the promises of the most easy, trustworthy, and customer-centric service, Fxchpro.com does not fulfill any of them. All this is just a shiny wrap around a clear scam, which takes your money and never gives them back. Any tales about bonuses, backing from celebrities etc are absent as well.

Fxchpro Scam Overview

Originally, Fxchpro poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another highlighted marketing point for this service is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, frauds use AI-generated videos where those celebrities advertise the fraud as 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 blatant wrap around an obvious scam.

Fxchpro Scam

To begin with, Fxchpro repeats the layout of many similar online platforms. There are quite a few examples, like Biulop, Usdzoe or Upjex. They are totally indistinguishable in terms of graphic elements, with slight discrepancies in the website header. Other details, and at times even crypto wallet addresses, are identical. Presumably, all these scam online platforms are operated by a single gang of scammers.

Cryptocurrency Scam Summary

How the Fxchpro Scam Works?

Fxchpro is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use numerous website designs, which still share the similar overall layout. Another shared 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the deceptive scheme, criminals set up and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and sponsored ads (when feasible), fraud actors increase the visibility of their fraudulent activities to possible victims. And as I said, scammers do not shy away using generative AI for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

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

Step 2: Gaining Traffic

Upon following the promotions, victims end up on a page filled with enticing offers. “Crypto starts with Fxchpro”, “Your crypto savings are secured with Fxchpro, “Start earning with Fxchpro – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that obtaining the pledged bonus requires registration. And as nothing suspicious happens at this point, unaware users happily move on – especially since the reward appears to be right behind the corner.

This is the last stage when it is possible to get away from 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 the starting poing of the main fraud action. As I just mentioned, deceivers bait folks for registration with bonuses. And all the personal data needed for it – username, email, crypto wallet address – are valuable for user identification. Solely by gathering this data and selling it further into the Darknet, crooks 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 at least crypto purchases on the platform with it, 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 crypto purchases require you to have capital on your account. In the case of Fxchpro, users are also compelled to top up to claim the bonuses. And this is what creates most of the money 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 engaging on this site hoping to use all the transferred money and withdraw them.

This is where the first obvious issues start to surface. When keeping an eye on the real cryptocurrency wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to withdraw the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that fraudsters are naught on intentions to give your money back. Though to make the denial look more realistic, they’ve elaborated a whole pack of reasons to decline the transfer-out request. Most of them repeat what KYC requirements say, but for the Fxchpro.com they are here only to make the withdrawal impossible.

By requesting your personal data, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your money back. And every check 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 Fxchpro.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Fxchpro 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 timeline of the scam, scoundrels may contact you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we earlier determined, these rascals have no intent of returning your money. So, what do these email messages and browser plugins represent? You guessed it right – this is another side of the fraudulent scheme designed to throw you into willingly running harmful software onto your device.

Both plugins and files attached to email messages can act as a shell for various malicious software. In this scenario, I foresee the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the chance is always above zero. As previously mentioned, their ethics is of no concern, and their dignity is already severely tarnished. They have no scruples to give up and strive to maximize revenues.

Frequently asked questions