Grandibit Reviewed: Legit or Total Ripoff? Read This First

Written by Daniel Zimmerman

Recently, Grandibit.com service popped up, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather credible supporting information that unmistakably indicates it is, actually, a fraudulent platform.

Regardless of the promises of the most easy, reliable, and client-friendly service, Grandibit.com does not fulfill any of them. In fact, all this is just a gilded wrap around a dirty scam, which takes your funds and never returns them. Any tales about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

GridinSoft Anti-Malware Review
It is better to prevent, than repair and repent!
When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.
Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon
Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Grandibit Scam Overview

Originally, Grandibit poses as a crypto trading & cryptowallet platform with remarkably low commission fees. Another bright marketing point for this platform 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 real, con actors use deepfake videos with those celebs advertise the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a blatant wrap around an obvious scam.

Grandibit.com Scam

Grandibit Scam

Initially, Grandibit copies the layout of numerous similar pages. There are quite a few examples, like Koyndex, Kelenex or Excoinlite. They are totally identical in terms of graphic elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these deceptive websites are managed by a single gang of swindrels.

Cryptocurrency Scam Summary

Website Grandibit.com
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 104.21.46.64
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Grandibit Scam Works?

Grandibit is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use various website designs, which still share the identical 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 begin the deceptive scheme, criminals create and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and sponsored promotions (when feasible), scam actors boost the presence of their scam activities to potential victims. And as I said, scammers do not disdain using deepfake for creating videos with the mentioned celebrities 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.

Cryptoscam ads TIkTok

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

Users obtain an incentive to enroll, enticed by the assurance of receiving crypto prizes valued at thousands of dollars, all for free. To augment the appeal of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After following the ads, targets end up on a page filled with appealing offers. “Crypto starts with Grandibit”, “Your crypto savings are secured with Grandibit, “Start earning with Grandibit – they look rather reliable. To heat up users and make them proceed to step 3, fraudsters say that obtaining the promised bonus requires registration. And since nothing questionable happens at this point, unexperienced users happily keep on – especially as 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 info, 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, frauds bait folks for registration with bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Exclusively 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 claimed bonus is not available to use right away. To make it at least usable for crypto purchases, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require you to have capital on your account. With Grandibit, users are also forced to top up to claim 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 participating on this website hoping to use all the transferred funds and withdraw them.

This, however, is where the first obvious issues start to surface. When comparing 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 pull out the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that swindlers have no intentions to send you money. Though to make the fraud look more realistic, they’ve made up a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client guidelines say, but for the Grandibit.com they are here exclusively to make the wireout 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 numerous other checks you should go through before getting your grand 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 Grandibit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

  • Unsubstantiated Credibility. Grandibit employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
  • Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Grandibit exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Grandibit as a scam.
  • Dubious Corporate Information. Grandibit arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
  • Exclusive Cryptocurrency Payments. Grandibit.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
  • Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
  • Groundless Hype Tactics. Grandibit utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Grandibit 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 timeline of the fraud, its masters may get in touch with you with particular documents. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we previously figured out, these scoundrels have no intention of returning your capital. So, what do these messages and browser plugins represent? You guessed it right – this is another side of the deceptive plan designed to throw you into willingly running malicious applications onto your computer.

Both add-ons and files included to email messages can function as a shell for different malicious code. In this case, I expect the presence of spyware and stealers among all forms of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always existent. As previously mentioned, their ethics is of no concern, and their dignity is already severely tarnished. They have nothing to give up and strive to boost profits.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

Gridinsoft Anti-Malware - Main Screen

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

setup-gridinsoft-fix.exe

3.Follow the installation setup wizard's instructions diligently.

Gridinsoft Setup Wizard

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Scan for spyware malicious programs

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

The spyware was Found

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

The spyware has been removed

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Frequently asked questions

Is there any real info on Grandibit site?

The vast majority of information posted on the Grandibit site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Grandibit site promices real?

No, there is no legitimate information on the Grandibit site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Grandibit scam?

Unfortunately, recovering funds lost to a scam like Grandibit can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Too Good to Be True Promises. Be cautious of offers that promise unrealistically high returns or guaranteed profits. If an investment opportunity sounds too good to be true, it likely is.
  2. Pressure to Act Quickly. Scammers often use tactics like creating a sense of urgency to pressure you into making quick decisions. Legitimate investments allow you time to research and consider your options.
  3. Lack of Regulation or Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.
  4. Social Proof and Celebrity Endorsements: Be skeptical of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
  5. Check for Reviews and Feedback: Look for independent reviews and feedback from other traders. Scammers may fabricate positive reviews, but negative reviews can provide valuable insights.

What should I do as a victim of a Grandibit.com scam?

If you have become a victim of a Grandibit or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Thoroughly Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
The truth about Grandibit

Name: Grandibit

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Grandibit, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Grandibit scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

Sending
User Review
3.8 (5 votes)
Comments Rating 0 (0 reviews)

About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

Leave a Reply

Sending