Kodronot Review: Legit or Scam? Read This First

Recently, Kodronot.com website popped up, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather credible supporting information that clearly reveals it is, actually, a scam service.

Despite the promises of the most user-friendly, dependable, and customer-centric service, Kodronot.com does not offer any of them. In fact, all this is just a golden wrap around a clear scam, which takes your money and never returns them. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

Kodronot Scam Overview

Originally, Kodronot poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another bright marketing point for this platform is backing from celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, 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 scam as if it was 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 an obvious scam.

Kodronot Scam

To begin with, Kodronot shares the layout of many equivalent online platforms. There are quite a few examples, like 12xtrades, Mellcoinkon or Techzesh. They are totally indistinguishable in terms of graphic elements, with small discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are identical. Most likely, all these deceptive online platforms are managed by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Kodronot Scam Works?

Kodronot is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use numerous website designs, which still share the similar 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the deceptive scheme, criminals create and fill accounts on popular social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Utilizing bots and paid promotions (when achievable), scam actors intensify the presence of their deceptive activities to potential victims. And as I said, crooks do not disdain using generative AI for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Step 2: Gaining Traffic

After following the promos, targets end up on a page filled with enticing offers. “Crypto starts with Kodronot”, “Your crypto savings are secured with Kodronot, “Start earning with Kodronot – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that claiming the promoted bonus requires registration. And since nothing questionable happens at this point, unexperienced users happily proceed – especially as 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 info, frauds will not 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, frauds bait folks into registration to get bonuses. And all the personal data needed for it – username, email, crypto wallet address – is valuable for user identification. Exclusively by gathering this data 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 it at least usable for cryptocurrency purchases, the user should top up the account with the equivalent sum. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Eventually, any crypto purchases require you to have money on your account. In the case of Kodronot, users are also coerced to top up to claim the bonuses. And these top ups is what creates most of the money flow to this scam site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred capital and withdraw them.

This, however, is where the problems start to surface. When comparing the real crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels are naught on intentions to return your money. Though to make the fraud look more realistic, they’ve made up a whole pack of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client requirements say, but for the Kodronot.com they are here exclusively to make the withdrawal impossible.

By asking for your personal info, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your grand back. And every check will reveal more and more info of yours, 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 Kodronot.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Kodronot.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Kodronot arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Kodronot resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Kodronot employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Kodronot capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Kodronot.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Kodronot 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 course of the scam, its masters may get in touch with you with specific files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we previously determined, these deceivers have no intention of giving back your funds. So, what can these messages and browser plugins represent? Correct – this is another side of the fraudulent scheme designed to throw you into willingly running malicious programs onto your system.

Both add-ons and attachments attached to email messages can function as a shell for diverse malware. In this scenario, I expect the presence of spyware and stealers among other kinds of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always above zero. As stated, their morality is of negligible importance, and their reputation is already seriously marred. They have no principles to give up and intend to maximize revenues.

Frequently asked questions