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

Written by Daniel Zimmerman

Recently, Neadex.com website appeared, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly reveals it is, actually, a fraudulent site.

Despite the promises of the most easy, reliable, and client-friendly service, Neadex.com does not fulfill any of them. In fact, all this is just a shiny wrap around a blatant scam, which steals your funds and never returns them. Any tales about gifts, endorsement from celebrities etc are non-existent as well.

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Neadex Scam Overview

Originally, Neadex poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another bright selling point for this service is backing from celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, frauds use deepfake videos with those celebs advertise the fraud as 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 glaring wrap around an obvious scam.

Neadex.com Scam

Neadex Scam

To begin with, Neadex repeats the design of numerous similar pages. There are quite a few examples, like Elonxtoken, Bcvadr or Ercmint. They are completely identical in terms of visual elements, with minor discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are identical. Presumably, all these fraudulent online platforms are managed by a single team of scammers.

Cryptocurrency Scam Summary

Website Neadex.com
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 104.21.34.81
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Neadex Scam Works?

Neadex is a part of a significant cryptocurrency scam scheme that started circulating vividly 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals set up and fill accounts on well-liked social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and sponsored advertisements (when feasible), fraud actors intensify the exposure of their scam activities to possible victims. And as I said, scammers do not shy away using deepfake for creating videos with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

Cryptoscam ads TIkTok

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

Users obtain a stimulus to register, enticed by the promise of obtaining crypto prizes valued at hundreds of dollars, all for free. To enhance the appeal of the offer, false claims of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon following the promotions, users end up on a page filled with enticing offers. “Crypto starts with Neadex”, “Your crypto savings are secured with Neadex, “Start earning with Neadex – they look rather reliable. To heat up users and make them proceed to step 3, fraudsters say that unlocking the pledged bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily move on – especially since the bonus appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you sign up using your personal information, 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 signing up for bonuses. And all the personal data needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any cryptocurrency purchases require having money on your account. With Neadex, users are also compelled to top up to claim the bonuses. And these top ups is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the transferred funds and withdraw them.

This is where the first obvious problems start to surface. When keeping an eye on the real crypto wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that swindlers are naught on intentions to give your money back. But to make the denial look more realistic, they’ve elaborated a whole pack of reasons to decline the transfer-out request. Most of them repeat what KYC guidelines say, but for the Neadex.com they are here only to make the withdrawal impossible.

By asking for your personal info, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your money back. And each of these checks will share more and more info of yours, 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 Neadex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

  • Unsubstantiated Credibility. Neadex employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
  • Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Neadex exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Neadex as a scam.
  • Dubious Corporate Information. Neadex arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
  • Exclusive Cryptocurrency Payments. Neadex.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
  • Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
  • Groundless Hype Tactics. Neadex utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Neadex 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 course of the fraud, scoundrels may contact you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we earlier determined, these deceivers have no plan of giving back your money. So, what can these email messages and browser plugins represent? Correct – that is another component of the scam designed to entice you into willingly installing destructive software onto your computer.

Both plugins and attachments included to email messages can act as a shell for diverse malware. In this situation, I anticipate the presence of spyware and stealers among other forms of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As stated, their morality is of little concern, and their dignity is already severely tarnished. They have no principles to give up and intend to boost gains.

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setup-gridinsoft-fix.exe

3.Follow the installation setup wizard's instructions diligently.

Gridinsoft Setup Wizard

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.

Scan for spyware malicious programs

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.

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The spyware was Found

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The spyware has been removed

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.

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Frequently asked questions

Is there any real info on Neadex site?

The vast majority of information posted on the Neadex site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Neadex site promices real?

No, there is no legitimate information on the Neadex site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Neadex scam?

Unfortunately, recovering funds lost to a scam like Neadex can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Verify Regulation and Licensing. Before proceeding, ensure that the platform or service is regulated and possesses the necessary licenses from relevant authorities. Scammers often operate without proper authorization.
  2. Resist Urgency. Be cautious of tactics that create a false sense of urgency to pressure you into quick decisions. Legitimate investments provide ample time for research and consideration.
  3. Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
  4. Question Unrealistic Promises. Approach offers with unrealistically high returns or guaranteed profits skeptically. If an investment opportunity seems too good to be true, it probably is.
  5. Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.

What should I do as a victim of a Neadex.com scam?

If you have become a victim of a Neadex or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Thoroughly Document. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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