Is Removax Legit or Another Scam? The Truth Revealed

Recently, Removax.com site appeared, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather reliable proof that unmistakably confirms it is, in fact, a scam service.

Regardless of the promises of the most convenient, dependable, and customer-centric service, Removax.com does not fulfill any of them. In fact, all this is just a golden wrap around a clear scam, which takes your money and data and never gives them back. Any stories about gifts, sponsorship from celebrities etc are absent 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.

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Removax Scam Overview

Originally, Removax poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another bright marketing point for this service is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, con actors use deepfake videos with those celebs advertise the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a vivid wrap around a transparent scam.

Removax Scam

Initially, Removax copies the appearance of many equivalent pages. There are quite a few examples, like Welybit, Coinghw or Kunocex. They are entirely indistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Probably, all these deceptive online platforms are managed by a single gang of scammers.

Cryptocurrency Scam Summary

How the Removax Scam Works?

Removax is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the same 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 complex psychological tricks that make the user believe in the authenticity 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 aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Using bots and paid promotions (when feasible), fraud actors boost the visibility of their scam activities to possible victims. And as I said, scammers do not disdain using generative AI for creating clips with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.

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

Users receive a stimulus to register, enticed by the assurance of getting cryptocurrency rewards valued at hundreds of dollars, all for free. To enhance the appeal of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the ads, users end up on a page filled with enticing offers. “Crypto starts with Removax”, “Your crypto savings are secured with Removax, “Start earning with Removax – they look rather credible. To heat up users and make them proceed to step 3, scammers say that getting the promised bonus requires registration. And since nothing questionable happens at this point, uninformed users happily move 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 information, frauds 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, deceivers bait folks into registration for bonuses. And all the personal info needed for it – email, username, crypto wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the alleged bonus is not available to use right away. To make at least cryptocurrency purchases on the platform with it, you need to top up the account with the equivalent sum. And this is what starts the final stage of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require having capital on your account. In the case of Removax, users are also forced to top up to use the bonuses. And this 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 engaging on this website hoping to use all the credited money and withdraw them.

This is where the first obvious problems start to surface. When comparing the actual cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers are naught on intentions to return your money. But to make the fraud look more realistic, they’ve made up a whole bunch of reasons to decline the transfer-out request. Most of them repeat what Know Your Client guidelines say, but for the Removax.com they are here only to make the wireout impossible.

By requesting your personal data, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And every check will uncover more and more information, 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 Removax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Removax 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 fraud, its masters may get in touch with you with specific files. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we already determined, these scammers have no plan of giving back your funds. So, what can these email messages and browser extensions represent? Correct – this is another side of the scam designed to throw you into deliberately installing malicious applications onto your system.

Both plugins and files attached to emails can function as a carrier for various malicious code. In this situation, I expect the presence of spyware and stealers among other types of threats. While it is not obligatory for scammers to distribute malware, the chance is always existent. As noted, their conscience is of no concern, and their reputation is already neck deep in mud. They have nothing to give up and aim to boost revenues.

Remove spyware with Gridinsoft Anti-Malware

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