Setixbit Reviewed: Legit or Total Ripoff? Read This First

Recently, Setixbit.com site surfaced, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible evidence that clearly indicates it is, actually, a scam platform.

Contrary to the statements of Setixbit.com, they won’t ever return your money. Despite the money displayed in the “member area”, there is zero way to withdraw even a cent. All promises regarding crypto bonuses are baseless 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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Setixbit Scam Overview

The key feature that Setixbit strives to provide is a secure and user-friendly crypto wallet service. The website promises crypto exchange facilities, tools for controlling wallets, transfers, dashboards, and similar stuff. In fact, they try to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in fact solely serves as a cover intended to mislead the cautious.

Setixbit Scam

To begin with, Setixbit reproduces the appearance of multiple equivalent pages. There are quite a few examples, like Spollyx, Streplex or Teslaxbest. They are entirely indistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are matching. Probably, all these scam online platforms are managed by a single team of scammers.

Cryptocurrency Scam Summary

How the Setixbit Scam Works?

Setixbit is yet another online platform within a extensive network of linked crypto deceptive platforms. The operators employ various brand titles and sites, like Setixbit.com, to capture victims. Nonetheless, these deceptive sites share matching website designs, terms of service, and About content. This unveils their sources as a part of the same scam network, which promotes the similar mode of scam under diverse disguises. The deceivers merely replicate the identical scam website under diverse names to mislead users into thinking they are enrolling a fresh platform. However, in reality, it’s the identical group of scammers orchestrating the deceptive pledges and undertakings to grab deposited funds. The operators shrewdly employ psychological tactics and captivating propositions to implement their deceitful schemes.

Step 1: Spreading

To start the scam, criminals set up and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and sponsored promotions (when possible), scam actors intensify the visibility of their deceptive activities to possible victims. This strategy allows them to create a broad net and connect with their focused audience. The latter commonly consists of cryptocurrency enthusiasts seeking prospects to earn profits.

Users receive an encouragement to register, attracted by the assurance of obtaining crypto prizes valued at hundreds of dollars, all without cost. To increase the appeal of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

People who demonstrate interest go to Setixbit.com via links present in advertisements or bot-generated posts. The site uses captivating visuals, design aspects that appear legitimate, and assertions of having a official license, all intended to project an initial image of trustworthiness.

Step 3: Data Gathering

To collect their rewards, users are required to proactively sign up on Setixbit and get guidance to provide sensitive and private data during the registration procedure. This includes linking their cryptocurrency wallets, providing email addresses, supplying phone numbers, submitting identification papers, and the like.

Step 4: Requesting funds

Once signed up, users observe significant amounts of cryptocurrency, valued at thousands of dollars, within their Setixbit wallets. Nevertheless, as is standard with such bonuses, you cannot withdraw them ahead of topping up your account. Typically, a funds transfer of $100 is asked to access the sign-up bonus. This prerequisite serves as the enticement that ultimately leads to the money loss.

Step 5: Disappear

The moment the funds transfer is made, the scammers terminate all interaction. They move forward to restrict users, delete accounts, and abscond with both the transferred funds and essential private data. The phony prizes persist perpetually uncredited, as they lack genuine existence. They function purely as a phishing ploy. This method forms the foundation for the fraudsters’ ability to trick victims and steal hard-earned funds through their double-dealing internet-based crypto fraud.

Signs of Scam

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

• False Celebrity Sponsorship. Setixbit 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. Setixbit.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. Setixbit 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. Setixbit.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%, Setixbit preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Setixbit as a scam.

What Should I do as a Victim?

If you had to deal with Setixbit 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 timeline of the scam, its actors may contact you with specific files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we earlier figured out, these deceivers have no plan of giving back your capital. So, what can these email messages and browser extensions represent? Correct – this is another component of the fraudulent scheme designed to throw you into willingly installing malicious software onto your computer.

Both extensions and attachments attached to email messages can act as a carrier for various malicious software. In this situation, I expect the presence of spyware and stealers among other types of malware. While it is not mandatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their ethics is of little concern, and their reputation is already seriously marred. They have no principles to give up and aim to boost revenues.

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:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Setixbit

Name: Setixbit

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Setixbit, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Setixbit scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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