We Investigated Nexbitx: Legit or Scam? The Facts

Recently, Nexbitx.com website popped up, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable supporting information that unmistakably indicates it is, in fact, a fraudulent service.

Contrary to the statements of Nexbitx.com, they won’t ever give back your money. Regardless of the numbers displayed in the “member area”, there is zero possibility to take out even a single coin. All promises regarding crypto rewards are empty as well.

Nexbitx Scam Overview

The main service that Nexbitx strives to provide is a safe and user-friendly cryptocurrency wallet service. The site pledges exchange services, tools for controlling wallets, transfers, dashboards, and similar stuff. In reality, they try to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in fact exclusively serves as a shell needed to lull the vigilance.

Nexbitx Scam

First and foremost, Nexbitx mimics the layout of many equivalent pages. There are quite a few examples, like Firobix, Mictradex or Cryptoverum. They are entirely undistinguishable in terms of graphic elements, with small discrepancies in the website header. Other particulars, and at times even crypto wallet addresses, are identical. Most likely, all these deceptive websites are managed by a single group of scammers.

Cryptocurrency Scam Summary

How the Nexbitx Scam Works?

Nexbitx is yet another webpage within a vast network of linked crypto fraudulent webpages. The administrators employ diverse brand identities and sites, like Nexbitx.com, to trap victims. Nonetheless, these false websites share matching website designs, terms of service, and About content. This exposes their origins as components of the equal scam network, which advocates the similar type of deception under different covers. The fraudsters merely replicate the identical fraudulent website under diverse names to fool users into assuming they are joining a new opportunity. However, in actuality, it’s the identical group of scammers orchestrating the misleading pledges and efforts to take deposited cryptocurrency. The operators cleverly employ psychological maneuvers and enticing invitations to execute their dishonest schemes.

Step 1: Spreading

To start the scam, criminals create and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and sponsored advertisements (when possible), fraud actors boost the visibility of their scam activities to possible victims. This strategy permits them to create a broad net and connect with their aimed viewers. The group commonly comprises of cryptocurrency enthusiasts looking for chances to earn profits.

Users obtain an encouragement to register, drawn by the promise of obtaining crypto rewards valued at hundreds of dollars, all without cost. To increase the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Users who show interest go to Nexbitx.com via links included in ads or bot-generated posts. The website uses captivating visuals, design features that appear authentic, and claims of holding a official license, all aimed to convey an initial perception of reliability.

Step 3: Data Gathering

To redeem their rewards, users must actively create an account on Nexbitx and receive prompts to submit sensitive and personal data during the enrollment procedure. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, sending in identification papers, and more.

Step 4: Requesting funds

Once signed up, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Nexbitx wallets. Nonetheless, as it usually happens with such incentives, you are unable to withdraw them prior to topping up your account. Usually, a deposit of $100 is asked to access the sign-up bonus. This stipulation serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

The instant the funds transfer is submitted, the deceivers halt all communication. They move forward to block users, delete accounts, and vanish with both the deposited money and essential individual information. The fabricated rewards remain perpetually uncredited, as they lack genuine existence. They function solely as a fraudulent strategy. This approach forms the foundation for the scammers’ capacity to trick victims and steal hard-earned funds through their double-dealing internet-based crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Nexbitx 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 duration of the scam, its actors may contact you with particular files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we earlier determined, these scoundrels have no intention of returning your capital. So, what can these messages and browser extensions represent? Correct – that is another component of the deceptive plan designed to entice you into deliberately running malicious applications onto your computer.

Both add-ons and attachments included to emails can function as a shell for diverse malicious code. In this case, I expect the presence of spyware and stealers among all types of malware. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As previously mentioned, their conscience is of little concern, and their dignity is already severely tarnished. They have nothing to give up and intend to maximize revenues.

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