Investigating Rixcoins: Legit or Scam? The Truth Revealed

Recently, Rixcoins.com site appeared, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible supporting information that unmistakably confirms it is, actually, a scam platform.

Contrary to the claims of Rixcoins.com, they won’t ever refund your money. Regardless of the numbers displayed in the “member area”, there is zero way to take out even a single cent. All pledges regarding crypto incentives are empty as well.

Rixcoins Scam Overview

The key offering that Rixcoins strives to provide is a safe and user-friendly crypto wallet service. The website pledges exchange facilities, tools for handling wallets, transfers, dashboards, and alike functions. In truth, they endeavor to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it in actuality only serves as a shell needed to fool the cautious.

Rixcoins Scam

Initially, Rixcoins mimics the design of multiple equivalent online platforms. There are quite a few examples, like Plowbix, Avroracash24 or Astralxtrade. They are entirely undistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Probably, all these fraudulent online platforms are operated by a single gang of fraudsters.

Cryptocurrency Scam Summary

How the Rixcoins Scam Works?

Rixcoins is yet another online platform within a extensive network of associated crypto deceptive webpages. The managers employ different brand identities and websites, like Rixcoins.com, to trap victims. Nevertheless, these false websites possess matching website designs, terms of service, and About content. This reveals their origins as components of the identical fraudulent network, which advocates the identical form of deception under various covers. The scammers simply copy the equal fraudulent site under diverse names to fool users into assuming they are joining a fresh opportunity. However, in reality, it’s the identical system of fraudsters orchestrating the fraudulent pledges and attempts to seize deposited cryptocurrency. The managers cleverly make use of psychological tactics and captivating propositions to carry out their unscrupulous plans.

Step 1: Spreading

To begin the deceptive scheme, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Utilizing bots and sponsored promotions (when possible), scam actors increase the exposure of their fraudulent activities to possible victims. This strategy allows them to cast an extensive net and connect with their focused audience. The latter typically consists of cryptocurrency enthusiastic individuals searching for opportunities to make profits.

Step 2: Gaining Traffic

Individuals who demonstrate interest go to Rixcoins.com via links featured in ads or bot-generated posts. The website utilizes captivating visuals, design aspects that appear legitimate, and assertions of holding a valid license, all intended to project an initial impression of credibility.

Step 3: Data Gathering

To collect their benefits, users must proactively create an account on Rixcoins and get guidance to provide sensitive and personal data during the registration procedure. This comprises linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, furnishing identification documents, and the like.

Step 4: Requesting funds

Once enrolled, users witness substantial amounts of cryptocurrency, valued at thousands of dollars, within their Rixcoins wallets. However, as is typical with such bonuses, you can’t withdraw them prior to topping up your account. Usually, a payment of $100 is asked to withdraw the sign-up bonus. This condition serves as the enticement that eventually culminates to the money loss.

Step 5: Disappear

The instant the payment is submitted, the scammers terminate all interaction. They go ahead to block users, remove accounts, and disappear with both the transferred money and essential private details. The phony benefits continue to be perpetually uncredited, as they lack real existence. They operate exclusively as a fraudulent strategy. This approach forms the foundation for the fraudsters’ capability to deceive victims and embezzle hard-earned funds through their double-dealing web crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Rixcoins 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 timeline of the scam, scoundrels may contact you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto savings. As we previously determined, these scoundrels have no plan of giving back your capital. So, what can these email messages and browser add-ons represent? Correct – this is another element of the deceptive plan designed to entice you into deliberately installing destructive programs onto your device.

Both add-ons and files added to email messages can serve as a carrier for diverse malicious software. In this situation, I foresee the presence of spyware and stealers among all types of threats. While it is not obligatory for scammers to distribute malware, the probability is always greater than zero. As stated, their conscience is of no concern, and their reputation is already seriously marred. They have no principles to lose and strive to maximize gains.

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