SELUNOX Review: Legit or Scam? Read This First

Recently, Selunox.com website popped up, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather reliable evidence that clearly confirms it is, actually, a scam service.

Despite the promises of the most convenient, trustworthy, and client-friendly service, Selunox.com does not offer any of them. In fact, all this is just a shiny wrap around a dirty scam, which takes your money and data and never returns them. Any tales about gifts, endorsement from celebrities etc are absent as well.

SELUNOX Scam Overview

Originally, SELUNOX poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another notable 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 more realistic, frauds employ deepfake videos where those celebrities promote the scam as the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

SELUNOX Scam

Initially, SELUNOX copies the design of numerous equivalent pages. There are quite a few examples, like Sawerex, Fuqex or Finopta. They are totally undistinguishable in terms of visual elements, with minor discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are identical. Most likely, all these fraudulent websites are managed by the same gang of scammers.

Cryptocurrency Scam Summary

How the SELUNOX Scam Works?

SELUNOX is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the similar overall layout. Another mutual 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 create and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and sponsored ads (when possible), scam actors increase the visibility of their deceptive activities to potential victims. And as I said, fraudsters do not disdain using generative AI for creating clips with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

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

Users obtain an incentive to register, enticed by the promise of obtaining crypto rewards valued at thousands of dollars, all without cost. To enhance the appeal of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the promotions, users end up on a page filled with appealing offers. “Crypto starts with SELUNOX”, “Your crypto savings are secured with SELUNOX, “Start earning with SELUNOX – they look rather credible. To heat up the interest and make the users proceed to step 3, crooks say that obtaining the pledged bonus requires registration. And as nothing suspicious happens at this point, uninformed 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 steer away from the scam without any losses. Before you register using your personal data, crooks will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, deceivers bait folks for registration with bonuses. And all the personal data needed for it – username, email, crypto wallet address – is valuable for user identification. Solely by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Obviously, any cryptocurrency operations require you to have capital on your account. With SELUNOX, users are also compelled to top up to get the bonuses. And this is what creates most of the cash flow to this scam site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred capital and withdraw them.

This, however, is where the first obvious issues start to surface. When comparing the real cryptocurrency wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to pull out 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 it look more legitimate, they’ve elaborated a whole pack of reasons to decline the wireout request. Usually, they repeat what KYC requirements say, but for the Selunox.com they are here only to make the wireout impossible.

By requesting your personal info, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And each of these checks will reveal more and more info of yours, which – you guessed it right – will be then sold 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 Selunox.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. SELUNOX often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Selunox.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. SELUNOX raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Selunox.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, SELUNOX preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling SELUNOX as a scam.

What Should I do as a Victim?

If you had to deal with SELUNOX 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 scam, scoundrels may get in touch with you with particular files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we earlier figured out, these deceivers have no plan of returning your money. So, what can these email messages and browser extensions represent? Correct – this is another element of the scam designed to entice you into willingly running destructive software onto your device.

Both plugins and attachments added to email messages can act as a shell for different malicious software. In this scenario, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As stated, their conscience is of no concern, and their reputation is already seriously marred. They have nothing to lose and strive to boost revenues.

Frequently asked questions