Sanoxbit Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Sanoxbit.com service popped up, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather reliable evidence that clearly reveals it is, in fact, a deceptive platform.

Despite the promises of the most convenient, trustworthy, and client-friendly service, Sanoxbit.com does not offer any of them. In fact, all this is just a gilded wrap around a dirty scam, which steals your money and data and never gives them back. Any stories about gifts, endorsement from celebrities etc are non-existent 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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Sanoxbit Scam Overview

Originally, Sanoxbit poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another highlighted marketing point for this platform is partnerships with celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, frauds use deepfake videos with those celebs advertise the fraud as if it was the best thing in the world. For known 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.

Sanoxbit Scam

To begin with, Sanoxbit copies the layout of multiple equivalent online platforms. There are quite a few examples, like Wybidex, Vortexswift or Vefyx. They are completely undistinguishable in terms of visual elements, with small discrepancies in the website header. Other details, and at times even crypto wallet addresses, are unchanged. Most likely, all these scam websites are managed by a single gang of fraudsters.

Cryptocurrency Scam Summary

How the Sanoxbit Scam Works?

Sanoxbit is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use various website designs, which still share the same overall layout. Another shared 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the deceptive scheme, criminals create and fill accounts on popular social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and sponsored advertisements (when possible), fraud actors boost the exposure of their scam activities to possible victims. And as I said, crooks do not shy away using deepfake for creating videos with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who enrolls the service immediately.

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

Users get a stimulus to sign up, enticed by the assurance of getting crypto prizes valued at hundreds of dollars, all without cost. To enhance the attractiveness of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the ads, users end up on a page filled with attractive offers. “Crypto starts with Sanoxbit”, “Your crypto savings are secured with Sanoxbit, “Start earning with Sanoxbit – they look rather authoritative. To heat up the interest and make the users proceed to step 3, scammers say that retrieving the pledged bonus requires registration. And since nothing questionable happens at this point, uninformed users happily proceed – especially since the bonus appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you register using your personal information, swindrels 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, deceivers bait folks into signing up to get bonuses. And all the personal data needed for it – email, username, crypto wallet address – are valuable for user identification. Only by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the sum of a bonus. And this is what starts the final stage of the scam.

Step 4: Requesting funds

Obviously, any crypto operations require having money on your account. In the case of Sanoxbit, users are also forced to top up to get the bonuses. And these top ups is what creates most of the cash flow to this scam website. 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 deposited funds and withdraw them.

This is where the problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the site 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 are naught on intentions to return your money. Though to make it look more legitimate, they’ve made up a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC guidelines say, but in this case they are here exclusively to make the wireout impossible.

By asking for your personal information, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your funds back. And every check will reveal 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 Sanoxbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Sanoxbit 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 masters may contact you with specific files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we already figured out, these scoundrels have no plan of restoring your capital. So, what can these email messages and browser plugins represent? You guessed – this is another element of the fraudulent scheme designed to throw you into deliberately installing destructive programs onto your system.

Both plugins and files added to email messages can serve as a shell for diverse malicious code. In this situation, I expect the presence of spyware and stealers among other types of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As previously mentioned, their ethics is of little concern, and their dignity is already severely tarnished. They have no principles to lose and aim to boost gains.

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:

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