The JetixSwap Scam – Don’t Become the Next Victim

Recently, Jetixswap.com service appeared, promoting itself as a place where you can safely keep cryptocurrency and other assets. I managed to gather credible evidence that clearly indicates it is, actually, a fraudulent service.

Despite the promises of the most user-friendly, trustworthy, and customer-centric service, Jetixswap.com does not fulfill any of them. All this is just a gilded wrap around a dirty scam, which takes your money and never returns them. Any stories about bonuses, sponsorship from celebrities etc are absent as well.

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.

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JetixSwap Scam Overview

Originally, JetixSwap poses as a crypto trading & cryptowallet service with outstandingly low commission fees. Another bright selling point for this service is partnerships with celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look more realistic, con actors use AI-generated videos with those celebs promote the fraud as the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a glaring wrap around an obvious scam.

JetixSwap Scam

To begin with, JetixSwap shares the appearance of multiple equivalent pages. There are quite a few examples, like Dexzond, Bitsofix or Usexbit. They are entirely indistinguishable in terms of graphic elements, with slight discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are identical. Presumably, all these scam websites are led by a single team of fraudsters.

Cryptocurrency Scam Summary

How the JetixSwap Scam Works?

JetixSwap is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various website designs, which still share the same overall layout. Another common 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 fraud, criminals create and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Employing bots and sponsored advertisements (when feasible), fraud actors intensify the visibility of their fraudulent activities to possible victims. And as I said, crooks 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, swindlers claim the bonus for every user who enrolls the service immediately.

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

Users receive an incentive to sign up, attracted by the promise of obtaining cryptocurrency prizes valued at thousands of dollars, all free of charge. To increase the appeal of the offer, fake suggestions of sponsorship by a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After clicking the ads, victims end up on a page filled with enticing offers. “Crypto starts with JetixSwap”, “Your crypto savings are secured with JetixSwap, “Start earning with JetixSwap – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that unlocking the promoted bonus requires registration. And as nothing concerning happens at this point, uninformed users happily keep on – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal info, rascals will not earn even a nickel 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 information needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Only 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 promised 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 sum of a bonus. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Eventually, any crypto purchases require having funds on your account. With JetixSwap, users are also compelled to top up to claim 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 committed gift (usually $500-1000 in USDT), and may start participating on this website hoping to use all the transferred money and withdraw them.

This, however, is where the issues start to surface. When keeping an eye on the real crypto wallet vs what the site says, you can spot 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

Needless to say that fraudsters have no intentions to give your money back. Though to make the fraud look more legitimate, they’ve made up a whole pack of reasons to decline the withdrawal request. Most of them repeat what KYC requirements say, but for the Jetixswap.com they are here exclusively to make the withdrawal impossible.

By asking for your personal data, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your money back. And every check will uncover more and more information, which – you guessed it right – will be then sold 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 Jetixswap.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. JetixSwap 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 JetixSwap 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 JetixSwap, 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 JetixSwap is a definite scam.

What Should I do as a Victim?

If you had to deal with JetixSwap 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 timeline of the scam, scoundrels may contact you with specific documents. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we already determined, these scammers have no intention of restoring your money. So, what do these emails and browser plugins represent? Correct – that is another element of the deceptive plan designed to throw you into deliberately running malicious programs onto your computer.

Both extensions and files added to emails can act as a shell for various malicious software. In this scenario, I anticipate the presence of spyware and stealers among other types of malicious programs. While it is not mandatory for scammers to distribute malware, the chance is always greater than zero. As previously mentioned, their ethics is of little concern, and their dignity is already severely tarnished. They have no principles to lose and aim to maximize gains.

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