We Investigated Lunaxop: Legit or Scam? The Facts

Recently, Lunaxop.com service appeared, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather reliable supporting information that clearly confirms it is, actually, a fraudulent site.

Despite the promises of the most easy, reliable, and client-friendly service, Lunaxop.com does not offer any of them. All this is just a golden wrap around a clear scam, which steals your money and data and never returns them. Any stories about gifts, backing from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Lunaxop Scam Overview

Originally, Lunaxop poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable selling point for this platform is backing from celebrities that are known in the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look real, con actors employ deepfake videos where those celebrities promote the fake crypto service as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

Lunaxop Scam

To begin with, Lunaxop shares the layout of many similar online platforms. There are quite a few examples, like Zylobit, Boomswap or Sysitex. They are totally identical in terms of graphic elements, with slight discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are the same. Probably, all these deceptive sites are operated by the same group of fraudsters.

Cryptocurrency Scam Summary

How the Lunaxop Scam Works?

Lunaxop is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the identical 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 complex 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 fraud, criminals establish and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and sponsored advertisements (when achievable), scam actors intensify the visibility of their scam activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the mentioned 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 Lunaxop in TikTok. Most of these videos are AI-generated deepfakes

Users get an encouragement to register, drawn by the promise of receiving cryptocurrency benefits valued at thousands of dollars, all free of charge. To augment the appeal of the offer, fake claims of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

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

This is the last stage when it is possible to steer away from the scam without any losses. Before you register using your personal information, crooks 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 mentioned, deceivers bait folks for registration with bonuses. And all the personal data needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the alleged bonus right away. To make at least crypto purchases on the platform with it, you need to 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 purchases require you to have money on your account. With Lunaxop, users are also forced to top up to get the bonuses. And these top ups is what creates most of the cash flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the transferred funds and withdraw them.

This is where the problems start to surface. When comparing the real cryptocurrency 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 funds 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 have 0 intentions to send you money. Though to make the fraud look more realistic, they’ve developed a whole pack of reasons to decline the wireout request. Most of them repeat what KYC requirements say, but for the Lunaxop.com they are here exclusively to make the wireout 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 numerous other checks you should go through before getting your money back. And every check will reveal more and more info of yours, 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 Lunaxop.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Lunaxop.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. Lunaxop 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. Lunaxop 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. Lunaxop 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%, Lunaxop capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Lunaxop.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Lunaxop 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 duration of the fraud, its masters may contact you with specific documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we previously determined, these rascals have no intent of returning your funds. So, what do these messages and browser add-ons represent? You guessed it right – this is another side of the deceptive plan designed to entice you into willingly installing destructive software onto your system.

Both extensions and files included to email messages can function as a shell for various malware. In this scenario, I foresee the presence of spyware and stealers among all forms of threats. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As previously mentioned, their conscience is of little concern, and their reputation is already neck deep in mud. They have nothing to lose and strive to maximize profits.

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