The Monlenix Scam – What You Need To Know

Recently, Monlenix.com site appeared, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible proof that unmistakably reveals it is, actually, a deceptive service.

Despite the promises of the most easy, reliable, and client-friendly service, Monlenix.com does not follow any of them. In fact, all this is just a gilded wrap around a clear scam, which takes your money and never gives them back. Any tales about gifts, backing from celebrities etc are absent as well.

Monlenix Scam Overview

Originally, Monlenix poses as a crypto trading & cryptowallet platform with remarkably low commission fees. Another bright marketing point for this platform is partnerships with celebrities that are known as crypto activists. 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 more realistic, frauds use AI-generated videos with those celebs advertise the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Monlenix Scam

To begin with, Monlenix copies the design of multiple similar pages. There are quite a few examples, like Lapaido, Nowzex or Cryptoelationexchange. They are entirely identical in terms of visual elements, with slight discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are matching. Probably, all these deceptive online platforms are managed by the same gang of fraudsters.

Cryptocurrency Scam Summary

How the Monlenix Scam Works?

Monlenix is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the identical overall layout. Another shared 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 sophisticated psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Using bots and sponsored advertisements (when feasible), scam actors increase the presence of their fraudulent activities to possible victims. And as I said, crooks do not disdain using deepfake for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

Promotions of cryptoscams like Monlenix in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

After following the ads, users end up on a page filled with attractive offers. “Crypto starts with Monlenix”, “Your crypto savings are secured with Monlenix, “Start earning with Monlenix – they look rather credible. To heat up users and make them proceed to step 3, scammers say that unlocking the pledged bonus requires registration. And as nothing questionable happens at this point, unaware users happily keep on – especially since the gift appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal data, crooks will not be able to earn even a penny 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 into registration to get bonuses. And all the personal information needed for it – email, username, crypto wallet address – is valuable for user identification. Only by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, the user should top up the account with the sum of a bonus. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require having funds on your account. In the case of Monlenix, users are also coerced to top up to get the bonuses. And these top ups is what creates most of the money flow to this fraudulent website. By topping up the account, users hope to get the promised 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 first obvious issues start to surface. When comparing the real crypto wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers are naught on intentions to give your money back. Though to make the fraud look more legitimate, they’ve developed a whole pack of reasons to decline the transfer-out request. Usually, they repeat what KYC guidelines say, but for the Monlenix.com they are here only to make the withdrawal impossible.

By requesting your personal info, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your grand back. And each of these checks will reveal more and more information, 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 Monlenix.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Monlenix 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 scam, its actors may reach out to you with specific files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we earlier figured out, these scammers have no intent of restoring your money. So, what can these messages and browser extensions represent? Correct – that is another element of the deceptive plan designed to throw you into willingly running harmful programs onto your device.

Both extensions and attachments attached to emails can act as a carrier for diverse malicious software. In this case, I foresee the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As previously mentioned, their morality is of negligible importance, and their dignity is already neck deep in mud. They have no principles to give up and aim to maximize profits.

Frequently asked questions