We Looked Into Lunaxup: Scam or Trustworthy? The Verdict

Recently, Lunaxup.com website surfaced, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible proof that clearly confirms it is, actually, a fraudulent platform.

Despite what Lunaxup site says, they won’t pay off your capital. Regardless of the figures displayed in the “member area”, there is absolutely no ability to withdraw even a cent. All pledges regarding crypto rewards are hollow as well.

Lunaxup Scam Overview

The key offering that Lunaxup strives to provide is a secure and convenient crypto wallet service. The website pledges exchange facilities, tools for managing wallets, transfers, dashboards, and alike functions. In truth, they aim to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it actually only serves as a cover needed to lull the vigilance.

Lunaxup Scam

To begin with, Lunaxup mimics the layout of many similar websites. There are quite a few examples, like Kroydex, Bitexmusk or Zyxbit. They are entirely undistinguishable in terms of visual elements, with slight discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are unchanged. Presumably, all these scam websites are led by a single group of scammers.

Cryptocurrency Scam Summary

How the Lunaxup Scam Works?

Lunaxup is yet another online platform within a extensive network of linked crypto scam webpages. The operators utilize diverse brand titles and websites, like Lunaxup.com, to capture victims. Nonetheless, these fraudulent sites share matching website designs, terms of service, and About Us content. This reveals their sources as parts of the equal scam network, which promotes the identical form of fraud under various disguises. The fraudsters simply replicate the same deceptive website under various names to mislead users into assuming they are participating in a new opportunity. However, in reality, it’s the same system of scammers orchestrating the fraudulent promises and undertakings to grab deposited cryptocurrency. The operators cleverly utilize psychological tactics and enticing propositions to implement their dishonest plots.

Step 1: Spreading

To initiate the fraud, criminals create and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and paid ads (when feasible), fraud actors increase the exposure of their deceptive activities to potential victims. This strategy allows them to cast a wide net and connect with their focused viewers. The latter typically comprises of cryptocurrency fans looking for opportunities to make profits.

Step 2: Gaining Traffic

People who show interest check out Lunaxup.com via links present in promotions or robotic posts. The webpage uses captivating visuals, design features that appear legitimate, and claims of possessing a valid license, all intended to convey an initial image of reliability.

Step 3: Data Gathering

To redeem their rewards, users are required to deliberately create an account on Lunaxup and get instructions to provide sensitive and personal information throughout the sign-up process. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once registered, users observe significant amounts of cryptocurrency, valued at thousands of dollars, within their Lunaxup wallets. Nevertheless, as is common with such incentives, you cannot withdraw them before making a deposit. Normally, a deposit of $100 is asked to access the sign-up bonus. This condition serves as the trap that ultimately culminates to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Lunaxup 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, rascals may contact you with particular files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we earlier figured out, these scoundrels have no intention of returning your capital. So, what can these messages and browser extensions represent? Correct – this is another side of the fraudulent scheme designed to throw you into deliberately installing malicious software onto your system.

Both extensions and files included to emails can act as a carrier for diverse malware. In this situation, I anticipate the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As previously mentioned, their ethics is of little concern, and their dignity is already seriously marred. They have no principles to lose and aim to maximize gains.

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