Investigating Royalchance: Legit or Scam? The Truth Revealed

Recently, Royalchance.top website appeared, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather reliable supporting information that unmistakably confirms it is, in truth, a fraudulent service.

Despite the promises of the most easy, reliable, and client-friendly service, Royalchance.top does not offer any of them. All this is just a gilded wrap around a dirty scam, which takes your money and data and never gives them back. Any stories about gifts, sponsorship from celebrities etc are absent as well.

Royalchance Scam Overview

Originally, Royalchance poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another bright marketing point for this platform is partnerships with celebrities that are known as crypto activists. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look real, frauds use deepfake videos where those celebrities advertise the fake crypto service as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.

Royalchance Scam

First and foremost, Royalchance copies the layout of many similar websites. There are quite a few examples, like Renalur, Oxyplex or Nixybetta. They are completely identical in terms of graphic elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are identical. Most likely, all these fraudulent online platforms are led by the same group of scammers.

Cryptocurrency Scam Summary

How the Royalchance Scam Works?

Royalchance is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use several website designs, which still share the similar 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To begin the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and sponsored promotions (when feasible), fraud actors boost the exposure of their scam activities to possible victims. And as I said, scammers do not shy away using generative AI for creating clips with the mentioned celebs 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 Royalchance in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

Upon following the promos, users end up on a page filled with enticing offers. “Crypto starts with Royalchance”, “Your crypto savings are secured with Royalchance, “Start earning with Royalchance – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that retrieving the promoted bonus requires registration. And since nothing suspicious happens at this point, unexperienced users happily keep on – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal data, rascals will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks into registration to get bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – are 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, you cannot use the alleged bonus right away. To make it at least usable for crypto purchases, you need to top up the account with the sum of a bonus. And this is what initiates the final step of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require you to have money on your account. In the case of Royalchance, users are also forced to top up to use the bonuses. And these top ups is what creates most of the money flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred funds and withdraw them.

This is where the victim notices the issues. When keeping an eye on the real crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve 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 scoundrels are naught on intentions to give your money back. Though to make the fraud look more realistic, they’ve developed a whole pack of reasons to decline the withdrawal request. Most of them repeat what KYC requirements say, but in this case they are here only to make the wireout impossible.

By asking for your personal info, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your money back. And every check will reveal more and more info of yours, 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 Royalchance.top. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Royalchance employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Royalchance exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Royalchance as a scam.
• Dubious Corporate Information. Royalchance arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Royalchance.top solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Royalchance utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Royalchance 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 course of the fraud, its masters may get in touch with you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we already determined, these rascals have no intent of giving back your funds. So, what do these email messages and browser plugins represent? Correct – that is another side of the fraudulent scheme designed to throw you into deliberately running harmful software onto your device.

Both plugins and files added to emails can function as a carrier for diverse malicious code. In this scenario, I expect the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As stated, their ethics is of little concern, and their dignity is already deeply compromised. They have no scruples to give up and strive to maximize gains.

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