We Investigated Rxbet: Legit or Scam? The Facts

Recently, Rxbet.eu service appeared, promoting itself as a place where you can securely keep cryptocurrency and other assets. I managed to gather credible proof that unmistakably confirms it is, actually, a fraudulent platform.

Despite the promises of the most user-friendly, dependable, and client-friendly service, Rxbet.eu does not fulfill any of them. All this is just a shiny wrap around a blatant scam, which steals your money and data and never gives them back. Any tales about gifts, sponsorship from celebrities etc are non-existent as well.

Rxbet Scam Overview

Originally, Rxbet poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable selling point for this platform is backing from celebrities that have relation to the crypto world. 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 more realistic, con actors employ deepfake videos where those celebrities advertise the scam as 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 blatant wrap around an obvious scam.

Rxbet Scam

First and foremost, Rxbet copies the appearance of numerous equivalent pages. There are quite a few examples, like Royalchance, Renalur or Oxyplex. They are entirely undistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Probably, all these deceptive online platforms are led by a single gang of frauds.

Cryptocurrency Scam Summary

How the Rxbet Scam Works?

Rxbet is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers 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 sophisticated psychological tricks that make the user believe in the validity 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 well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Using bots and paid advertisements (when achievable), scam actors increase the visibility of their deceptive activities to possible victims. And as I said, crooks do not shy away using deepfake for creating clips with the mentioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

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

Users obtain an encouragement to enroll, attracted by the assurance of receiving cryptocurrency prizes valued at thousands of dollars, all for free. To increase the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the promotions, victims end up on a page filled with appealing offers. “Crypto starts with Rxbet”, “Your crypto savings are secured with Rxbet, “Start earning with Rxbet – they look rather authoritative. To heat up the interest and make the users proceed to step 3, scammers say that unlocking the promised bonus requires registration. And since nothing concerning happens at this point, unaware users happily keep on – especially as the bonus 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 register using your personal information, frauds will not 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 mentioned, frauds bait folks for registration with bonuses. And all the personal data needed for it – email, username, crypto wallet address – is valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any crypto operations require you to have funds on your account. With Rxbet, users are also forced to top up to claim the bonuses. And this is what creates the majority of the cash flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the credited money and withdraw them.

This, however, is where the issues start to surface. When comparing the real crypto wallet vs what the website says, you can observe 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

There’s no need to explain that fraudsters have no intentions to send you money. Though to make the denial look more legitimate, they’ve made up a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what KYC regulations say, but for the Rxbet.eu they are here only to make the wireout impossible.

By requesting your personal information, frauds 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 would desperately need to undergo before getting your money back. And every check will uncover more and more information, which – you guessed it right – will be then traded 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 Rxbet.eu. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Rxbet 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 scam, scoundrels may contact you with particular documents. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we earlier determined, these deceivers have no intent of returning your money. So, what do these email messages and browser extensions represent? You guessed – that is another element of the deceptive plan designed to throw you into deliberately installing malicious programs onto your computer.

Both plugins and attachments included to email messages can function as a shell for various malicious code. In this situation, I foresee the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their morality is of little concern, and their dignity is already neck deep in mud. They have no scruples to give up and strive to boost profits.

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