We Investigated Helonax: Legit or Scam? The Facts

Recently, Helonax.com website surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable proof that clearly reveals it is, actually, a scam platform.

Despite the promises of the most easy, reliable, and customer-centric service, Helonax.com does not offer any of them. All this is just a shiny wrap around a clear scam, which takes your money and data and never returns them. Any tales about bonuses, endorsement from celebrities etc are absent as well.

Helonax Scam Overview

Originally, Helonax poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another notable selling point for this platform 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, rascals employ AI-generated videos with those celebs promote the fraud as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

Helonax Scam

To begin with, Helonax copies the layout of multiple equivalent websites. There are quite a few examples, like Tradeinvestfx, Stockcapinc or Gendexy. They are entirely undistinguishable in terms of graphic elements, with small discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are the same. Probably, all these scam websites are operated by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Helonax Scam Works?

Helonax is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use several 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 advanced 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 scam, criminals establish and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Utilizing bots and paid promotions (when feasible), scam actors increase the presence of their fraudulent activities to potential victims. And as I said, scammers do not shy away 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 enrolls the service immediately.

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

Users obtain an incentive to sign up, drawn by the assurance of obtaining crypto prizes valued at thousands of dollars, all free of charge. To augment the attractiveness of the offer, fake suggestions of sponsorship by a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After clicking the promotions, victims end up on a page filled with appealing offers. “Crypto starts with Helonax”, “Your crypto savings are secured with Helonax, “Start earning with Helonax – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that obtaining the promoted bonus requires registration. And since nothing questionable happens at this point, uninformed users happily keep on – 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 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, frauds bait folks into registration for bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Solely by gathering this info and selling it further into the Darknet, fraudsters 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 at least crypto 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 step of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require having funds on your account. With Helonax, users are also forced to top up to use the bonuses. And this is what creates most of the cash flow to this fraudulent site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the deposited funds and withdraw them.

This is where the victim notices the problems. When keeping an eye on the actual cryptocurrency wallet vs what the site says, you can notice 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 have zero intentions to send you money. Though to make the fraud look more legitimate, they’ve crafted a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By asking for your personal info, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your grand back. And each of these checks 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 Helonax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Helonax 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%, Helonax exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Helonax as a scam.
• Dubious Corporate Information. Helonax 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. Helonax.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. Helonax 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 Helonax 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 fraud, scoundrels may reach out to you with particular documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto savings. As we earlier figured out, these scammers have no intention of giving back your money. So, what do these emails and browser add-ons represent? You guessed – this is another component of the scam designed to throw you into willingly installing harmful applications onto your computer.

Both add-ons and attachments included to email messages can act as a carrier for various malicious software. In this case, I foresee the presence of spyware and stealers among other forms of malware. While it is not obligatory for scammers to distribute malware, the chance is always significant. As noted, their conscience is of negligible importance, and their reputation is already severely tarnished. They have nothing to lose and intend to maximize gains.

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