Investigating Multibase: Legit or Scam? The Truth Revealed

Recently, Multibase.top service surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible proof that clearly indicates it is, actually, a deceptive platform.

Despite what Multibase site states, they won’t ever give back your capital. Even though the numbers displayed in the “member area”, there is zero ability to take out even a penny. All pledges regarding crypto rewards are baseless as well.

It is better to prevent, than repair and repent!

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Multibase Scam Overview

The main service that Multibase aims to provide is a safe and convenient crypto wallet service. The website promises crypto exchange services, tools for controlling wallets, transfers, dashboards, and the like. In truth, they endeavor to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in actuality solely serves as a cover intended to mislead the cautious.

Multibase Scam

First and foremost, Multibase imitates the appearance of numerous equivalent online platforms. There are quite a few examples, like Linkxcoin, Colywex or Bitxint. They are entirely indistinguishable in terms of graphic elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are unchanged. Most likely, all these scam websites are led by the same gang of swindrels.

Cryptocurrency Scam Summary

How the Multibase Scam Works?

Multibase is yet another website within a wide-ranging network of linked crypto deceptive webpages. The managers utilize different brand titles and websites, like Multibase.top, to trap victims. Nevertheless, these false sites share identical website designs, terms of service, and About information. This unveils their beginnings as components of the same fraudulent network, which promotes the similar mode of scam under diverse appearances. The deceivers merely copy the identical deceptive site under various names to deceive users into thinking they are enrolling a fresh platform. However, in reality, it’s the same system of scammers orchestrating the misleading promises and undertakings to seize deposited cryptocurrency. The administrators cleverly utilize psychological strategies and captivating invitations to implement their deceitful plots.

Step 1: Spreading

To begin the fraud, criminals set up and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and paid ads (when achievable), scam actors boost the visibility of their fraudulent activities to potential victims. This strategy allows them to create a wide net and engage with their focused audience. The public typically comprises of cryptocurrency fans searching for prospects to generate profits.

Users obtain a stimulus to sign up, enticed by the assurance of getting crypto benefits valued at hundreds of dollars, all without cost. To enhance the appeal of the offer, fake suggestions of sponsorship by a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

People who show interest check out Multibase.top via links included in ads or robotic posts. The site utilizes captivating visuals, design elements that appear authentic, and claims of having a valid license, all designed to present an initial impression of credibility.

Step 3: Data Gathering

To collect their benefits, users must actively set up an profile on Multibase and receive prompts to provide sensitive and personal information throughout the registration process. This comprises linking their cryptocurrency wallets, providing email addresses, supplying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once enrolled, users observe considerable amounts of cryptocurrency, valued at thousands of dollars, within their Multibase wallets. Nonetheless, as is typical with such incentives, you are unable to withdraw them ahead of topping up your account. Usually, a deposit of $100 is required to withdraw the sign-up bonus. This condition serves as the enticement that ultimately culminates to the money loss.

Step 5: Disappear

The moment the payment is submitted, the deceivers terminate all interaction. They go ahead to block users, remove accounts, and abscond with both the deposited capital and critical private information. The fabricated rewards remain perpetually uncredited, as they lack actual existence. They function solely as a deceptive ploy. This method forms the foundation for the scammers’ capacity to mislead victims and embezzle hard-earned money through their duplicative online crypto scam.

Signs of Scam

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

• False Celebrity Sponsorship. Multibase 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. Multibase.top 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. Multibase 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. Multibase.top 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%, Multibase preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Multibase as a scam.

What Should I do as a Victim?

If you had to deal with Multibase 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 course of the fraud, scoundrels may get in touch with you with particular files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we already determined, these scoundrels have no intent of returning your money. So, what can these email messages and browser plugins represent? You guessed it right – that is another component of the scam designed to entice you into deliberately running harmful applications onto your computer.

Both plugins and files added to email messages can serve as a shell for different malicious code. In this case, I foresee the presence of spyware and stealers among all forms of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their conscience is of no concern, and their dignity is already severely tarnished. They have no principles to give up and aim to maximize revenues.

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Trojan Killer for “spyware” removal on locked PC

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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.

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Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

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Step 5: Restart Your Computer:

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16. Remove the USB flash drive from the infected computer.

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Frequently asked questions

The truth about Multibase

Name: Multibase

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