The Qytbit Scam – Don’t Become the Next Victim

Recently, Qytbit.com website appeared, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible supporting information that clearly confirms it is, in fact, a fraudulent service.

Contrary to the claims of Qytbit.com, they will never give back your capital. Regardless of the numbers displayed in the “member area”, there is absolutely no way to withdraw even a cent. All pledges regarding crypto bonuses are baseless as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

DOWNLOAD NOW

Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon

Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Qytbit Scam Overview

The key feature that Qytbit strives to provide is a secure and convenient cryptocurrency wallet service. The website pledges exchange solutions, tools for controlling wallets, transfers, dashboards, and alike functions. In fact, they endeavor to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it actually solely serves as a shell needed to lull the vigilance.

Qytbit Scam

Initially, Qytbit imitates the design of many similar websites. There are quite a few examples, like Pondrex, Beverlex or Beastbex. They are completely undistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are the same. Probably, all these scam sites are operated by a single gang of fraudsters.

Cryptocurrency Scam Summary

How the Qytbit Scam Works?

Qytbit is yet another webpage within a extensive network of interconnected crypto deceptive sites. The administrators employ diverse brand names and websites, like Qytbit.com, to capture victims. Nonetheless, these fraudulent sites have in common identical designs, terms of service, and About content. This exposes their sources as a part of the same scam network, which endorses the same type of fraud under different disguises. The fraudsters just duplicate the same scam site under different names to fool users into thinking they are enrolling a new venture. However, in reality, it’s the equal system of scammers orchestrating the misleading pledges and undertakings to take deposited funds. The managers shrewdly employ psychological tactics and enticing invitations to carry out their deceitful schemes.

Step 1: Spreading

To initiate the scam, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Employing bots and paid promotions (when achievable), fraud actors intensify the presence of their fraudulent activities to possible victims. This tactic enables them to cast a wide net and interact with their targeted audience. The latter usually comprises of cryptocurrency enthusiasts seeking chances to generate profits.

Users receive an incentive to sign up, attracted by the commitment of getting crypto benefits valued at hundreds of dollars, all for free. To increase the appeal of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Individuals who show interest visit Qytbit.com via links included in advertisements or bot-generated posts. The webpage employs captivating visuals, design features that appear legitimate, and assertions of possessing a official license, all aimed to present an initial perception of credibility.

Step 3: Data Gathering

To claim their benefits, users must actively sign up on Qytbit and receive prompts to submit sensitive and personal information throughout the enrollment procedure. This includes linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, sending in identification documents, and more.

Step 4: Requesting funds

Once registered, users notice considerable amounts of cryptocurrency, valued at thousands of dollars, within their Qytbit wallets. However, as it usually happens with such incentives, you are unable to withdraw them ahead of topping up your account. Normally, a payment of $100 is required to access the sign-up bonus. This condition serves as the trap that eventually results to the money loss.

Step 5: Disappear

The instant the payment is made, the fraudsters cease all contact. They proceed to restrict users, erase accounts, and disappear with both the deposited funds and critical private details. The fabricated benefits persist perpetually uncredited, as they lack genuine existence. They operate solely as a deceptive ploy. This approach forms the foundation for the fraudsters’ capacity to trick victims and embezzle hard-earned money through their duplicative online crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Qytbit 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, fraudsters may contact you with particular documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we already determined, these scoundrels have no plan of giving back your capital. So, what do these emails and browser add-ons represent? You guessed – this is another side of the deceptive plan designed to throw you into deliberately installing harmful software onto your device.

Both extensions and attachments included to email messages can function as a shell for different 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 existent. As previously mentioned, their conscience is of no concern, and their reputation is already deeply compromised. They have nothing to lose and strive to maximize profits.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Qytbit

Name: Qytbit

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Qytbit, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Qytbit scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

Sending

User Review

3.83 (6 votes)

Comments Rating 0 (0 reviews)