Is Ojybit Legit or Another Scam? The Truth Revealed

Recently, Ojybit.com website popped up, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather reliable proof that clearly reveals it is, actually, a deceptive site.

Despite the promises of the most easy, trustworthy, and customer-centric service, Ojybit.com does not fulfill any of them. All this is just a golden wrap around a dirty scam, which steals your money and data and never returns them. Any tales about bonuses, endorsement from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Ojybit Scam Overview

Originally, Ojybit poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another bright marketing point for this site 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 says about being supported by them. To make these claims look more realistic, con actors use deepfake videos with those celebs advertise the fake crypto service as the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.

Ojybit Scam

To begin with, Ojybit copies the layout of multiple similar websites. There are quite a few examples, like Muricabit, Menorex or Wopnex. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these deceptive websites are operated by the same team of frauds.

Cryptocurrency Scam Summary

How the Ojybit Scam Works?

Ojybit is a part of a significant cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use numerous website designs, which still share the similar 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 complex 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 deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Using bots and sponsored promotions (when possible), fraud actors intensify the presence of their scam activities to possible victims. And as I said, fraudsters do not disdain using deepfake for creating videos with the mentioned 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.

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

Users obtain a stimulus to register, drawn by the assurance of getting cryptocurrency rewards valued at thousands of dollars, all free of charge. To increase the appeal of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Upon following the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Ojybit”, “Your crypto savings are secured with Ojybit, “Start earning with Ojybit – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that unlocking the pledged bonus requires registration. And since nothing suspicious happens at this point, unaware users happily move on – especially as 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 info, crooks 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 mentioned, deceivers bait folks for registration with bonuses. And all the personal data needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Solely by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, the alleged bonus is not available to use right away. To make at least cryptocurrency purchases on the platform with it, you need to top up the account with the equivalent sum. And this is what starts the final stage of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency operations require having money on your account. With Ojybit, users are also coerced to top up to use the bonuses. And these top ups is what creates most of the cash flow to this scam 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 credited capital and withdraw them.

This is where the first obvious problems start to surface. When comparing the actual crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that fraudsters are naught on intentions to give your money back. Though to make the denial look more legitimate, they’ve developed a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC regulations say, but in this case they are here exclusively to make the wireout impossible.

By requesting your personal data, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And every check will uncover more and more information, which – you guessed it right – will be then marketed 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 Ojybit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Ojybit 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, rascals may contact you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we earlier determined, these scoundrels have no intent of restoring your money. So, what can these messages and browser extensions represent? Correct – that is another component of the deceptive plan designed to throw you into willingly installing malicious programs onto your computer.

Both plugins and attachments included to email messages can act as a carrier for diverse malware. In this situation, I anticipate the presence of spyware and stealers among all types of threats. While it is not obligatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their conscience is of little concern, and their reputation is already severely tarnished. They have nothing to give up and intend to boost profits.

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