The PrimeMaxTrades Scam – Don’t Become the Next Victim

Recently, Primemaxtrades.com site popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible supporting information that unmistakably confirms it is, actually, a scam service.

Despite the promises of the most convenient, dependable, and client-friendly service, Primemaxtrades.com does not follow any of them. All this is just a gilded wrap around a clear scam, which steals your money and never returns them. Any tales about bonuses, endorsement from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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PrimeMaxTrades Scam Overview

Originally, PrimeMaxTrades poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another bright selling point for this site is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, con actors use AI-generated videos where those celebrities promote the fake crypto service as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

PrimeMaxTrades Scam

First and foremost, PrimeMaxTrades copies the appearance of numerous similar websites. There are quite a few examples, like Lenutex, Cbusy or Tronmine. They are entirely undistinguishable in terms of visual elements, with small discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are the same. Presumably, all these deceptive online platforms are managed by a single team of fraudsters.

Cryptocurrency Scam Summary

How the PrimeMaxTrades Scam Works?

PrimeMaxTrades is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous 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 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 begin the scam, criminals set up and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and paid promotions (when feasible), fraud actors intensify the exposure of their scam activities to potential victims. And as I said, crooks do not shy away using generative AI 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 PrimeMaxTrades in TikTok. Most of these videos are AI-generated deepfakes

Users get a stimulus to enroll, drawn by the commitment of receiving cryptocurrency prizes valued at hundreds of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the ads, users end up on a page filled with enticing offers. “Crypto starts with PrimeMaxTrades”, “Your crypto savings are secured with PrimeMaxTrades, “Start earning with PrimeMaxTrades – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that unlocking the promised bonus requires registration. And as nothing questionable happens at this point, uninformed users happily keep on – especially since the gift appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you register 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 said, frauds bait folks into registration to get bonuses. And all the personal data needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. And this is what starts the final step of the scam.

Step 4: Requesting funds

Eventually, any crypto operations require having capital on your account. In the case of PrimeMaxTrades, users are also compelled to top up to get the bonuses. And these top ups is what creates most of the cash flow to this fraudulent site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start participating on this website hoping to use all the credited capital and withdraw them.

This is where the issues start to surface. When comparing the real crypto wallet vs what the site says, you can observe 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 scoundrels have zero intentions to give your money back. But to make the fraud look more legitimate, they’ve developed a whole pack of reasons to decline the wireout request. Most of them repeat what Know Your Client requirements say, but for the Primemaxtrades.com they are here only to make the withdrawal impossible.

By requesting your personal data, 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 grand back. And every check will reveal more and more information, which – you guessed it right – will be then traded 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 Primemaxtrades.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. PrimeMaxTrades 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%, PrimeMaxTrades exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying PrimeMaxTrades as a scam.
• Dubious Corporate Information. PrimeMaxTrades 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. Primemaxtrades.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. PrimeMaxTrades 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 PrimeMaxTrades 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 scam, fraudsters may contact you with specific documents. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we previously figured out, these scoundrels have no plan of restoring your capital. So, what do these emails and browser extensions represent? Correct – that is another side of the deceptive plan designed to throw you into willingly installing harmful programs onto your computer.

Both plugins and files included to emails can function as a shell for different malicious code. In this case, I anticipate the presence of spyware and stealers among all types of malware. While it is not obligatory for scammers to distribute malware, the chance is always above zero. As noted, their conscience is of little concern, and their dignity is already severely tarnished. They have no principles to lose and strive to maximize profits.

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