Loonabitex Reviewed: Legit or Total Ripoff? Read This First

Recently, Loonabitex.com site surfaced, promoting itself as a place where you can securely keep cryptocurrency and other assets. I managed to gather reliable supporting information that clearly confirms it is, actually, a fraudulent site.

Contrary to the statements of Loonabitex.com, they won’t ever return your money. Regardless of the money displayed in the “member area”, there is zero possibility to retrieve even a penny. All commitments regarding crypto bonuses are hollow as well.

It is better to prevent, than repair and repent!

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Loonabitex Scam Overview

The key service that Loonabitex aims to provide is a protected and user-friendly cryptocurrency wallet service. The website pledges exchange solutions, tools for controlling wallets, transfers, dashboards, and similar functions. In truth, they endeavor to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in fact only serves as a cover intended to lull the vigilance.

Loonabitex Scam

Initially, Loonabitex reproduces the appearance of numerous similar online platforms. There are quite a few examples, like Winwinnex, Polconiex or Xcoinspace. They are completely identical in terms of graphic elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Most likely, all these deceptive websites are operated by the same gang of fraudsters.

Cryptocurrency Scam Summary

How the Loonabitex Scam Works?

Loonabitex is yet another webpage within a wide-ranging network of interconnected crypto deceptive platforms. The operators utilize diverse brand titles and websites, like Loonabitex.com, to capture victims. However, these false sites possess matching website designs, terms of service, and About Us information. This exposes their origins as parts of the equal scam network, which advocates the identical mode of deception under various appearances. The scammers just copy the identical fraudulent site under different names to deceive users into believing they are participating in a new venture. However, in reality, it’s the equal system of swindlers orchestrating the deceptive pledges and attempts to take deposited funds. The administrators cleverly employ psychological strategies and captivating propositions to carry out their unscrupulous plans.

Step 1: Spreading

To initiate the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and sponsored advertisements (when feasible), fraud actors increase the exposure of their deceptive activities to possible victims. This tactic enables them to create a broad net and connect with their targeted viewers. The latter usually consists of cryptocurrency enthusiasts searching for chances to make profits.

Users get an encouragement to sign up, drawn by the promise of receiving crypto benefits valued at thousands of dollars, all for free. To increase the appeal of the offer, false claims of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Individuals who express interest go to Loonabitex.com via links present in advertisements or robotic posts. The site uses captivating visuals, design aspects that appear genuine, and assertions of having a legitimate license, all intended to convey an initial perception of trustworthiness.

Step 3: Data Gathering

To claim their rewards, users are required to proactively set up an account on Loonabitex and receive guidance to provide sensitive and personal data during the registration procedure. This comprises linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, sending in identification papers, and the like.

Step 4: Requesting funds

Once signed up, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Loonabitex wallets. Nevertheless, as it usually happens with such rewards, you cannot withdraw them prior to making a deposit. Usually, a funds transfer of $100 is asked to access the sign-up bonus. This prerequisite serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

The point in time the deposit is made, the fraudsters halt all contact. They proceed to restrict users, erase accounts, and abscond with both the deposited funds and critical private details. The fabricated benefits persist perpetually uncredited, as they lack real existence. They function solely as a fraudulent ploy. This technique forms the foundation for the scammers’ capacity to mislead victims and steal hard-earned money through their deceptive web crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Loonabitex 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 timeline of the scam, its masters may get in touch with you with specific documents. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we earlier figured out, these scoundrels have no intention of giving back your capital. So, what can these emails and browser add-ons represent? Correct – this is another element of the deceptive plan designed to throw you into willingly installing harmful applications onto your device.

Both add-ons and attachments attached to emails can act as a carrier for various malicious software. In this situation, I foresee the presence of spyware and stealers among all types of threats. While it is not obligatory for scammers to distribute malware, the chance is always above zero. As noted, their conscience is of no concern, and their dignity is already severely tarnished. They have nothing to lose and intend to boost revenues.

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:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

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.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

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 Loonabitex

Name: Loonabitex

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Loonabitex, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Loonabitex 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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