We Looked at the Evidence: Is Primeflexcapital Legit or Scam?

Recently, Primeflexcapital.com service appeared, promoting itself as a place where you can safely store cryptocurrency and other assets. I managed to gather credible evidence that clearly reveals it is, actually, a scam site.

Regardless of the promises of the most user-friendly, trustworthy, and client-friendly service, Primeflexcapital.com does not follow any of them. In fact, all this is just a gilded wrap around a blatant scam, which steals your money and never gives them back. Any tales about bonuses, backing from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Primeflexcapital Scam Overview

Originally, Primeflexcapital poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable selling point for this service is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, con actors employ AI-generated videos where those celebrities advertise the fraud as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a blatant wrap around a transparent scam.

Primeflexcapital Scam

Initially, Primeflexcapital repeats the layout of multiple similar online platforms. There are quite a few examples, like Mexdfi, Nixfoz or Nelonex. They are totally identical in terms of visual elements, with minor discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are matching. Most likely, all these deceptive sites are managed by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Primeflexcapital Scam Works?

Primeflexcapital is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use several website designs, which still share the same 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 sophisticated 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 start the scam, criminals set up and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Utilizing bots and paid promotions (when possible), scam actors intensify the visibility of their fraudulent activities to potential victims. And as I said, scammers do not disdain using deepfake for creating clips with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users receive an encouragement to register, attracted by the commitment of receiving crypto benefits valued at thousands of dollars, all without cost. To augment the attractiveness of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Primeflexcapital”, “Your crypto savings are secured with Primeflexcapital, “Start earning with Primeflexcapital – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that claiming the promised bonus requires registration. And as nothing suspicious happens at this point, unexperienced users happily proceed – especially as the bonus appears to be right behind the corner.

This is the last stage when it is possible to steer away from the scam without any losses. Before you sign up using your personal info, rascals will not earn even a penny 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 information needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Only 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 alleged bonus right away. To make it at least usable for crypto purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Obviously, any crypto purchases require having funds on your account. In the case of Primeflexcapital, users are also forced to top up to get the bonuses. And these top ups is what creates most of the cash flow to this fraudulent website. By topping up the account, users hope to get the committed 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 issues start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the site says, you can observe 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 scoundrels are naught on intentions to send you money. But to make the denial look more realistic, they’ve elaborated a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what KYC guidelines say, but for the Primeflexcapital.com they are here exclusively to make the wireout impossible.

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

• Absent company details. Primeflexcapital does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Primeflexcapital like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Primeflexcapital, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Primeflexcapital is a definite scam.

What Should I do as a Victim?

If you had to deal with Primeflexcapital 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 contact you with specific files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously determined, these rascals have no plan of returning your money. So, what can these emails and browser extensions represent? You guessed – this is another side of the scam designed to throw you into deliberately installing malicious applications onto your device.

Both add-ons and files attached to email messages can function as a shell for diverse malware. In this scenario, I foresee the presence of spyware and stealers among all types of threats. While it is not obligatory for scammers to distribute malware, the probability is always existent. As noted, their morality is of little concern, and their dignity is already deeply compromised. They have no principles to give up and aim to boost revenues.

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