MRCOINX Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Mrcoinx.com site appeared, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly reveals it is, in fact, a deceptive site.

Regardless of the promises of the most convenient, trustworthy, and customer-centric service, Mrcoinx.com does not follow any of them. All this is just a shiny wrap around a clear scam, which takes your money and never gives them back. Any tales about gifts, sponsorship from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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MRCOINX Scam Overview

Originally, MRCOINX poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another highlighted marketing point for this service is partnerships with celebrities that are known in the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, frauds employ deepfake videos with those celebs advertise the fraud 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.

MRCOINX Scam

First and foremost, MRCOINX shares the design of many similar pages. There are quite a few examples, like Metawersal, Nbstk or Aoxiso. They are completely indistinguishable in terms of graphic elements, with small discrepancies in the website header. Other details, and at times even crypto wallet addresses, are unchanged. Presumably, all these fraudulent websites are led by the same gang of fraudsters.

Cryptocurrency Scam Summary

How the MRCOINX Scam Works?

MRCOINX is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the similar overall layout. Another mutual 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 advanced 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 start the scam, criminals establish and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and sponsored advertisements (when possible), scam actors boost the exposure of their fraudulent activities to possible victims. And as I said, crooks do not disdain using generative AI for creating videos with the mentioned celebs that advertise 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 MRCOINX in TikTok. Most of these videos are AI-generated deepfakes

Users obtain a stimulus to enroll, enticed by the assurance of getting crypto prizes valued at thousands of dollars, all for free. To augment the appeal of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the ads, targets end up on a page filled with appealing offers. “Crypto starts with MRCOINX”, “Your crypto savings are secured with MRCOINX, “Start earning with MRCOINX – they look rather credible. To heat up users and make them proceed to step 3, crooks say that getting the pledged bonus requires registration. And as nothing concerning happens at this point, unexperienced users happily keep on – especially since the bonus 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 register using your personal information, rascals will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks for registration with bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Exclusively 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. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto operations require having money on your account. In the case of MRCOINX, users are also forced to top up to use the bonuses. And these top ups is what creates the majority 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 participating on this website hoping to use all the credited funds and withdraw them.

This, however, 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 money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels are naught on intentions to give your money back. Though to make it look more realistic, they’ve made up a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what KYC regulations say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for your personal info, scammers 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 would desperately need to undergo before getting your funds back. And every check will uncover more and more info of yours, which – you guessed it right – will be then traded 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 Mrcoinx.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with MRCOINX 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 duration of the fraud, its actors may reach out to you with specific documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we previously figured out, these rascals have no plan of restoring your money. So, what do these emails and browser extensions represent? You guessed it right – that is another side of the deceptive plan designed to throw you into willingly running harmful applications onto your device.

Both extensions and files included to email messages can function as a shell for diverse malicious software. In this scenario, I expect the presence of spyware and stealers among all kinds of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As noted, their ethics is of negligible importance, and their reputation is already severely tarnished. They have no principles to lose and intend to boost revenues.

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