The Truth About Rakexbit: Legit or Scam? Our Review

Recently, Rakexbit.com service surfaced, promoting itself as a place where you can safely keep cryptocurrency and other assets. I managed to gather credible proof that clearly confirms it is, actually, a deceptive site.

Despite what Rakexbit site states, they will never give back your funds. Even though the numbers displayed in the “member area”, there is zero means to take out even a single penny. All commitments regarding crypto rewards are baseless as well.

Rakexbit Scam Overview

The main service that Rakexbit strives to provide is a protected and convenient crypto wallet service. The website promises exchange facilities, tools for handling wallets, transfers, dashboards, and similar stuff. In fact, they aim to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in fact exclusively serves as a cover intended to lull the vigilance.

Rakexbit Scam

To begin with, Rakexbit reproduces the design of multiple equivalent online platforms. There are quite a few examples, like Biosunex, Biarux or Ploidex. They are entirely undistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other details, and sometimes even crypto wallet addresses, are identical. Probably, all these scam online platforms are led by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Rakexbit Scam Works?

Rakexbit is yet another website within a vast network of interconnected crypto fraudulent webpages. The managers utilize diverse brand identities and websites, like Rakexbit.com, to capture victims. Nonetheless, these deceptive websites have in common the same designs, terms of service, and About Us information. This unveils their sources as parts of the identical fraudulent network, which advocates the similar mode of fraud under different covers. The scammers simply duplicate the equal scam site under different names to fool users into thinking they are participating in a new platform. However, in actuality, it’s the identical group of fraudsters orchestrating the misleading pledges and attempts to take deposited funds. The operators shrewdly utilize psychological strategies and enticing invitations to implement their dishonest schemes.

Step 1: Spreading

To begin the scam, criminals create and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Utilizing bots and sponsored ads (when possible), scam actors intensify the presence of their deceptive activities to possible victims. This strategy enables them to create an extensive net and interact with their focused viewers. The latter commonly consists of cryptocurrency fans searching for prospects to earn profits.

Users get an incentive to sign up, enticed by the assurance of obtaining crypto prizes valued at hundreds of dollars, all without cost. To enhance the appeal of the offer, fake suggestions of sponsorship by a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Individuals who express interest go to Rakexbit.com via links included in ads or robotic posts. The website utilizes captivating visuals, design aspects that appear legitimate, and claims of holding a legitimate license, all designed to project an initial impression of trustworthiness.

Step 3: Data Gathering

To claim their benefits, users need to deliberately create an account on Rakexbit and get instructions to provide sensitive and private information throughout the registration process. This includes linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, submitting identification documents, and the like.

Step 4: Requesting funds

Once enrolled, users observe considerable amounts of cryptocurrency, valued at thousands of dollars, within their Rakexbit wallets. Nonetheless, as it usually happens with such bonuses, you are unable to withdraw them before making a deposit. Typically, a payment of $100 is asked to get the sign-up bonus. This condition serves as the snare that ultimately culminates to the money loss.

Step 5: Disappear

The moment the funds transfer is submitted, the deceivers cease all communication. They go ahead to bar users, erase accounts, and abscond with both the transferred funds and essential private details. The fabricated rewards persist perpetually uncredited, as they lack real existence. They act solely as a fraudulent strategy. This approach forms the foundation for the scammers’ capacity to mislead victims and embezzle hard-earned money through their deceptive web crypto fraud.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Rakexbit 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, its actors may reach out to you with specific documents. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we already figured out, these scammers have no intention of giving back your funds. So, what can these messages and browser plugins represent? You guessed – this is another component of the scam designed to throw you into willingly installing destructive programs onto your system.

Both add-ons and attachments added to email messages can function as a carrier for different malware. In this scenario, I foresee the presence of spyware and stealers among other kinds of malware. While it is not mandatory for scammers to distribute malware, the chance is always existent. As previously mentioned, their ethics is of no concern, and their dignity is already deeply compromised. They have nothing to give up and aim to boost revenues.

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