The Monitradex Scam – What You Need To Know

Recently, Monitradex.com site appeared, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible supporting information that clearly confirms it is, actually, a deceptive platform.

Despite what Monitradex site says, they won’t ever pay off your funds. Despite the numbers displayed in the “member area”, there is zero means to retrieve even a cent. All commitments regarding crypto incentives are baseless 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.

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Monitradex Scam Overview

The main offering that Monitradex attempts to provide is a safe and user-friendly cryptocurrency wallet service. The site promises crypto exchange solutions, tools for controlling wallets, transfers, dashboards, and similar stuff. In fact, they endeavor to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in actuality only serves as a shell intended to lull the vigilance.

Monitradex Scam

To begin with, Monitradex reproduces the layout of many similar websites. There are quite a few examples, like Lumvex, Losrex or Upkenny. They are totally undistinguishable in terms of graphic elements, with slight discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these fraudulent online platforms are led by a single group of scammers.

Cryptocurrency Scam Summary

How the Monitradex Scam Works?

Monitradex is yet another online platform within a wide-ranging network of interconnected crypto deceptive webpages. The operators utilize various brand titles and sites, like Monitradex.com, to capture victims. Nevertheless, these fraudulent websites possess the same designs, terms of service, and About information. This reveals their beginnings as components of the same criminal network, which endorses the same mode of deception under different covers. The deceivers just replicate the identical deceptive site under diverse names to fool users into believing they are enrolling a new opportunity. However, in actuality, it’s the equal group of scammers orchestrating the misleading promises and efforts to seize deposited money. The administrators skillfully make use of psychological strategies and enticing offers to implement their dishonest plans.

Step 1: Spreading

To initiate the scam, criminals establish and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and sponsored ads (when achievable), fraud actors increase the visibility of their deceptive activities to possible victims. This tactic permits them to cast an extensive net and connect with their focused viewers. The latter usually comprises of cryptocurrency enthusiastic individuals searching for chances to earn profits.

Users obtain an encouragement to sign up, enticed by the promise of getting crypto rewards valued at thousands of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Individuals who express interest go to Monitradex.com via links present in ads or bot-generated posts. The site employs captivating visuals, design features that appear authentic, and claims of possessing a official license, all aimed to present an initial impression of credibility.

Step 3: Data Gathering

To collect their rewards, users are required to proactively sign up on Monitradex and receive guidance to submit sensitive and private information during the registration procedure. This includes linking their cryptocurrency wallets, sharing email addresses, giving phone numbers, sending in identification papers, and more.

Step 4: Requesting funds

Once enrolled, users observe substantial amounts of cryptocurrency, valued at thousands of dollars, within their Monitradex wallets. However, as is common with such bonuses, you cannot withdraw them ahead of making a deposit. Normally, a deposit of $100 is required to withdraw the sign-up bonus. This prerequisite serves as the snare that eventually results to the money loss.

Step 5: Disappear

The instant the funds transfer is submitted, the deceivers cease all contact. They proceed to block users, delete accounts, and vanish with both the transferred funds and vital individual information. The phony prizes continue to be perpetually uncredited, as they lack genuine existence. They act exclusively as a deceptive strategy. This method forms the foundation for the fraudsters’ ability to mislead victims and steal hard-earned money through their duplicative online crypto fraud.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Monitradex 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 timeline of the fraud, its actors may get in touch with you with particular files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we earlier determined, these deceivers have no plan of restoring your money. So, what can these emails and browser extensions represent? You guessed – that is another element of the deceptive plan designed to entice you into willingly installing destructive software onto your computer.

Both extensions and attachments included to emails can serve as a carrier for diverse malware. In this case, I expect the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always existent. As previously mentioned, their conscience is of little concern, and their reputation is already neck deep in mud. They have no principles to give up and strive to boost 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:

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 Monitradex

Name: Monitradex

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