We Looked Into Lyscoin: Scam or Trustworthy? The Verdict

Recently, Lyscoin.com site appeared, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable proof that unmistakably reveals it is, actually, a scam platform.

Despite what Lyscoin site says, they won’t pay off your funds. Regardless of the money displayed in the “member area”, there is zero possibility to take out even a single coin. All pledges regarding crypto rewards are hollow as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

DOWNLOAD NOW

Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon

Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Lyscoin Scam Overview

The primary offering that Lyscoin strives to provide is a protected and user-friendly cryptocurrency wallet service. The website pledges crypto exchange facilities, tools for handling wallets, transfers, dashboards, and similar stuff. In fact, they endeavor to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in fact exclusively serves as a shell intended to lull the vigilance.

Lyscoin Scam

To begin with, Lyscoin mimics the layout of many equivalent online platforms. There are quite a few examples, like Pfakklasfkljafskjlafs, Skyxmoon or Twiterex. They are completely indistinguishable in terms of graphic elements, with small discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Probably, all these fraudulent websites are operated by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Lyscoin Scam Works?

Lyscoin is yet another website within a wide-ranging network of associated crypto scam sites. The administrators employ various brand names and websites, like Lyscoin.com, to ensnare victims. Nonetheless, these fraudulent websites have in common identical website designs, terms of service, and About information. This reveals their origins as parts of the identical fraudulent network, which endorses the identical form of scam under diverse covers. The fraudsters just replicate the equal deceptive website under diverse names to fool users into believing they are enrolling a new venture. However, in actuality, it’s the same group of scammers orchestrating the misleading commitments and efforts to grab deposited cryptocurrency. The managers cleverly make use of psychological maneuvers and captivating offers to execute their dishonest plans.

Step 1: Spreading

To start the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and sponsored promotions (when achievable), scam actors intensify the visibility of their scam activities to potential victims. This strategy allows them to cast a wide net and interact with their aimed audience. The latter commonly consists of cryptocurrency enthusiasts looking for prospects to make profits.

Users obtain an incentive to enroll, drawn by the promise of obtaining crypto benefits valued at hundreds of dollars, all for free. To enhance the attractiveness of the offer, false 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 visit Lyscoin.com via links featured in advertisements or bot-generated posts. The website employs captivating visuals, design elements that appear authentic, and claims of holding a valid license, all designed to present an initial impression of reliability.

Step 3: Data Gathering

To redeem their benefits, users must deliberately create an account on Lyscoin and receive instructions to submit sensitive and personal information throughout the registration procedure. This comprises linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once enrolled, users witness substantial amounts of cryptocurrency, valued at thousands of dollars, within their Lyscoin wallets. Nevertheless, as it usually happens with such rewards, you can’t withdraw them ahead of topping up your account. Typically, a funds transfer of $100 is asked to access the sign-up bonus. This prerequisite serves as the enticement that eventually leads to the money loss.

Step 5: Disappear

The moment the payment is sent, the fraudsters terminate all communication. They proceed to block users, remove accounts, and vanish with both the transferred capital and essential personal information. The phony rewards remain perpetually uncredited, as they lack real existence. They function purely as a phishing strategy. This method forms the foundation for the scammers’ capability to trick victims and steal hard-earned earnings through their double-dealing internet-based crypto scam.

Signs of Scam

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

• False Celebrity Sponsorship. Lyscoin often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Lyscoin.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Lyscoin raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Lyscoin.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Lyscoin preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Lyscoin as a scam.

What Should I do as a Victim?

If you had to deal with Lyscoin 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 reach out to you with specific files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously figured out, these deceivers have no plan of returning your money. So, what do these email messages and browser add-ons represent? You guessed – this is another component of the fraudulent scheme designed to throw you into deliberately installing harmful programs onto your computer.

Both plugins and files added to emails can serve as a carrier for different malicious code. In this case, I expect the presence of spyware and stealers among other types of malware. While it is not mandatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their ethics is of no concern, and their dignity is already severely tarnished. They have no scruples to lose and strive to maximize 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 Lyscoin

Name: Lyscoin

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

Operating System: All

Application Category: Crypto Scams

Sending

User Review

3.25 (4 votes)

Comments Rating 0 (0 reviews)