The Truth About Glidafin: Legit or Scam? Our Review

Recently, Glidafin.com site popped up, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably reveals it is, actually, a scam service.

Regardless of the promises of the most user-friendly, trustworthy, and client-friendly service, Glidafin.com does not offer any of them. In fact, all this is just a shiny wrap around a clear scam, which steals your funds and never gives them back. Any tales about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Glidafin Scam Overview

Originally, Glidafin poses as a crypto trading & cryptowallet service with outstandingly low commission fees. Another bright marketing point for this site is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, frauds employ AI-generated videos where those celebrities promote the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.

Glidafin Scam

First and foremost, Glidafin copies the design of multiple similar online platforms. There are quite a few examples, like Etherxspark, Zaglex or Xelonmex. They are totally undistinguishable in terms of visual elements, with small discrepancies in the site header. Other particulars, and at times even crypto wallet addresses, are identical. Probably, all these deceptive sites are led by the same group of fraudsters.

Cryptocurrency Scam Summary

How the Glidafin Scam Works?

Glidafin is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various website designs, which still share the identical 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 initiate the scam, criminals establish and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Utilizing bots and sponsored ads (when feasible), scam actors boost the presence of their deceptive activities to possible victims. And as I said, scammers do not shy away using deepfake for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

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

Users obtain an incentive to sign up, drawn by the commitment of obtaining crypto benefits valued at thousands of dollars, all without cost. To enhance the attractiveness of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

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

At this point, it is possible to get away from the scam without any losses. Before you register using your personal data, rascals 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 said, deceivers bait folks for registration with bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, the claimed bonus is not available to use 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

Eventually, any cryptocurrency purchases require having money on your account. In the case of Glidafin, users are also forced to top up to get the bonuses. And these top ups is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the credited money and withdraw them.

This, however, is where the problems start to surface. When keeping an eye on the real crypto wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the capital 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. But to make it look more realistic, they’ve made up a whole pack of reasons to decline the wireout request. Usually, they repeat what Know Your Client requirements say, but for the Glidafin.com they are here only to make the withdrawal impossible.

By requesting your personal info, scammers 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 funds back. And every check will reveal more and more information, which – you guessed it right – will be then marketed 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 Glidafin.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Glidafin 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 course of the fraud, scoundrels may reach out to you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we previously figured out, these rascals have no plan of giving back your capital. So, what do these messages and browser plugins represent? Correct – that is another element of the fraudulent scheme designed to throw you into deliberately running destructive software onto your device.

Both plugins and attachments attached to emails can act as a carrier for diverse malicious code. In this case, I foresee the presence of spyware and stealers among other kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the likelihood is always existent. As noted, their morality is of little concern, and their reputation is already deeply compromised. They have nothing to lose and strive to maximize revenues.

Remove spyware with Gridinsoft Anti-Malware

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