We Investigated Lerexbit: Legit or Scam? The Facts

Recently, Lerexbit.com service appeared, promoting itself as a place where you can safely store cryptocurrency and other assets. I managed to gather credible proof that clearly confirms it is, actually, a deceptive site.

Despite what Lerexbit site says, they won’t refund your funds. Regardless of the numbers displayed in the “member area”, there is zero way to retrieve even a single cent. All commitments regarding crypto bonuses are hollow as well.

It is better to prevent, than repair and repent!

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Lerexbit Scam Overview

The primary offering that Lerexbit aims to provide is a protected and convenient crypto wallet service. The site pledges exchange solutions, tools for managing wallets, transfers, dashboards, and similar stuff. In reality, they aim to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it actually solely serves as a cover intended to deceive the cautious.

Lerexbit Scam

To begin with, Lerexbit mimics the design of multiple similar websites. There are quite a few examples, like Roydex, Muskxbuy or Musbex. They are completely indistinguishable in terms of visual elements, with minor discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are matching. Probably, all these fraudulent sites are operated by the same gang of swindrels.

Cryptocurrency Scam Summary

How the Lerexbit Scam Works?

Lerexbit is yet another webpage within a vast network of linked crypto scam platforms. The administrators employ various brand titles and websites, like Lerexbit.com, to ensnare victims. However, these deceptive sites have in common the same website designs, terms of service, and About Us content. This exposes their sources as components of the identical fraudulent network, which advocates the same type of scam under different appearances. The deceivers simply replicate the same deceptive site under various names to mislead users into believing they are enrolling a fresh platform. However, in reality, it’s the equal system of swindlers orchestrating the deceptive pledges and efforts to take deposited funds. The operators skillfully make use of psychological strategies and captivating offers to execute their dishonest schemes.

Step 1: Spreading

To start the fraud, criminals set up and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and sponsored advertisements (when achievable), fraud actors boost the exposure of their scam activities to potential victims. This tactic enables them to cast a broad net and interact with their targeted spectators. The latter typically comprises of cryptocurrency enthusiasts seeking chances to earn profits.

Users get an encouragement to sign up, enticed by the promise of receiving crypto benefits valued at hundreds of dollars, all for free. To augment the attractiveness of the offer, fake claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Users who show interest check out Lerexbit.com via links featured in promotions or robotic posts. The website employs captivating visuals, design elements that appear genuine, and assertions of possessing a valid license, all aimed to convey an initial image of reliability.

Step 3: Data Gathering

To redeem their prizes, users must actively create an account on Lerexbit and get prompts to submit sensitive and private information throughout the registration procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once signed up, users notice significant amounts of cryptocurrency, valued at thousands of dollars, within their Lerexbit wallets. Nevertheless, as is common with such bonuses, you are unable to withdraw them ahead of making a deposit. Typically, a deposit of $100 is required to access the sign-up bonus. This condition serves as the snare that ultimately results to the money loss.

Step 5: Disappear

The instant the deposit is submitted, the fraudsters cease all interaction. They move forward to bar users, delete accounts, and vanish with both the transferred money and vital private information. The phony benefits persist perpetually uncredited, as they lack actual existence. They operate purely as a fraudulent ploy. This approach forms the foundation for the deceivers’ capacity to deceive victims and steal hard-earned money through their deceptive online crypto scheme.

Signs of Scam

I gathered several facts that point at the scammy nature of the Lerexbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Lerexbit 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 fraud, its masters may get in touch with you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we already figured out, these rascals have no intent of giving back your funds. So, what do these emails and browser add-ons represent? Correct – this is another component of the fraudulent scheme designed to throw you into deliberately running malicious applications onto your system.

Both plugins and files attached to email messages can function as a shell for diverse malicious software. In this situation, 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 probability is always significant. As previously mentioned, their conscience is of little concern, and their dignity is already severely tarnished. They have nothing to give up and intend to maximize gains.

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.

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

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

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

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.

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.

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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.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Lerexbit

Name: Lerexbit

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

Operating System: All

Application Category: Crypto Scams

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