Procoinmax Reviewed: Legit or Total Ripoff? Read This First

Recently, Procoinmax.com website appeared, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible supporting information that clearly confirms it is, in truth, a deceptive service.

Despite the promises of the most user-friendly, trustworthy, and customer-centric service, Procoinmax.com does not offer any of them. In fact, all this is just a gilded wrap around a blatant scam, which steals your funds and never returns them. Any tales about bonuses, endorsement from celebrities etc are non-existent as well.

Procoinmax Scam Overview

Originally, Procoinmax poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another highlighted marketing point for this service is partnerships with celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, rascals use deepfake videos with those celebs advertise the fraud as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

Procoinmax Scam

Initially, Procoinmax shares the design of many similar online platforms. There are quite a few examples, like Coinakb, Braxd or Pleacecrypto. They are completely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive websites are operated by the same group of scoundrels.

Cryptocurrency Scam Summary

How the Procoinmax Scam Works?

Procoinmax is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use various website designs, which still share the identical overall layout. Another common 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals create and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Using bots and sponsored promotions (when feasible), fraud actors increase the visibility of their deceptive activities to possible victims. And as I said, fraudsters do not disdain using deepfake for creating clips with the aforementioned celebrities that promote 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 Procoinmax in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

After following the promos, targets end up on a page filled with attractive offers. “Crypto starts with Procoinmax”, “Your crypto savings are secured with Procoinmax, “Start earning with Procoinmax – they look rather credible. To heat up the interest and make the users proceed to step 3, scammers say that retrieving the promised bonus requires registration. And as nothing questionable happens at this point, unaware users happily keep on – especially as the reward appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you sign up using your personal info, swindrels will not 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 said, scammers bait folks for registration with bonuses. And all the personal info needed for it – username, email, crypto wallet address – are valuable for user identification. Exclusively by gathering this information 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 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 initiates the final stage of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require you to have money on your account. In the case of Procoinmax, users are also compelled to top up to claim the bonuses. And this is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the credited money and withdraw them.

This is where the problems start to surface. When keeping an eye on the actual crypto wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw 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 return your money. But to make it look more legitimate, they’ve developed a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC guidelines say, but in this case they are here exclusively to make the wireout impossible.

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

• Absent company details. Procoinmax 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 Procoinmax 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 Procoinmax, 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 Procoinmax is a definite scam.

What Should I do as a Victim?

If you had to deal with Procoinmax 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 timeline of the scam, its masters may contact you with specific documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we already determined, these rascals have no intent of restoring your money. So, what can these messages and browser plugins represent? Correct – that is another component of the fraudulent scheme designed to entice you into deliberately installing destructive programs onto your device.

Both extensions and files added to email messages can function as a shell for diverse malicious code. In this situation, I foresee the presence of spyware and stealers among all forms of malware. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As previously mentioned, their conscience is of negligible importance, and their dignity is already severely tarnished. They have no scruples to lose and intend to boost gains.

Frequently asked questions