The Truth About Jetbycoin: Legit or Scam? Our Review

Recently, Jetbycoin.com site surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible evidence that unmistakably confirms it is, actually, a fraudulent platform.

Regardless of the promises of the most easy, trustworthy, and customer-centric service, Jetbycoin.com does not fulfill any of them. In fact, all this is just a gilded wrap around a blatant scam, which steals your funds and never returns them. Any stories about gifts, backing from celebrities etc are non-existent as well.

Jetbycoin Scam Overview

Originally, Jetbycoin poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another notable marketing point for this platform is partnerships with celebrities that are known as crypto activists. 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 deepfake videos with those celebs promote the fake crypto service as if it was 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 vivid wrap around an obvious scam.

Jetbycoin Scam

First and foremost, Jetbycoin repeats the layout of many similar websites. There are quite a few examples, like Lamzutex, Pumpxbit or Spacexbit. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are unchanged. Probably, all these scam online platforms are operated by the same group of fraudsters.

Cryptocurrency Scam Summary

How the Jetbycoin Scam Works?

Jetbycoin is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use several 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 complex 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 fraud, criminals set up and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Employing bots and paid ads (when possible), scam actors boost the visibility of their scam activities to possible victims. And as I said, fraudsters do not disdain using generative AI for creating clips with the mentioned celebs that advertise 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 Jetbycoin in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

Upon following the promos, targets end up on a page filled with appealing offers. “Crypto starts with Jetbycoin”, “Your crypto savings are secured with Jetbycoin, “Start earning with Jetbycoin – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that obtaining the pledged bonus requires registration. And since nothing questionable happens at this point, uninformed users happily proceed – especially since the reward 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 info, crooks will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, deceivers bait folks into registration for 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, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the claimed bonus is not available for withdrawal 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 crypto operations require you to have capital on your account. In the case of Jetbycoin, users are also coerced to top up to use the bonuses. And this is what creates most of the cash flow to this fraudulent 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 victim notices the issues. When keeping an eye on the real crypto 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 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 swindlers are naught on intentions to return your money. But to make the denial look more realistic, they’ve crafted a whole pack of reasons to decline the transfer-out request. Most of them repeat what KYC requirements say, but for the Jetbycoin.com they are here only 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 numerous other checks you should go through before getting your funds back. And every check will reveal more and more info of yours, 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 Jetbycoin.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Jetbycoin does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Jetbycoin like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Jetbycoin, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Jetbycoin is a definite scam.

What Should I do as a Victim?

If you had to deal with Jetbycoin 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 duration of the fraud, its actors may get in touch with you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we already figured out, these rascals have no intention of restoring your money. So, what do these emails and browser add-ons represent? You guessed it right – this is another side of the fraudulent scheme designed to entice you into deliberately installing harmful programs onto your computer.

Both plugins and files attached to email messages can serve as a carrier for diverse malware. In this situation, I expect the presence of spyware and stealers among all forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their ethics is of little concern, and their dignity is already deeply compromised. They have nothing to lose and strive to maximize revenues.

Frequently asked questions