We Investigated Shortsbit: Legit or Scam? The Facts

Written by Daniel Zimmerman

Recently, Shortsbit.com website appeared, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible proof that clearly confirms it is, actually, a fraudulent site.

Contrary to the claims of Shortsbit.com, they won’t ever return your capital. Regardless of the figures displayed in the “member area”, there is absolutely no possibility to retrieve even a penny. All commitments regarding crypto rewards are baseless as well.

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Shortsbit Scam Overview

The primary service that Shortsbit attempts to provide is a secure and convenient cryptocurrency wallet service. The site promises exchange services, tools for managing wallets, transfers, dashboards, and alike functions. In reality, they try to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it in fact solely serves as a shell needed to lull the vigilance.

Shortsbit.com Scam

Shortsbit Scam

To begin with, Shortsbit imitates the layout of multiple equivalent pages. There are quite a few examples, like Rixcoins, Plowbix or Avroracash24. They are completely undistinguishable in terms of visual elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are the same. Probably, all these deceptive online platforms are led by the same group of frauds.

Cryptocurrency Scam Summary

WebsiteShortsbit.com
HostingAS13335 Cloudflare, Inc.
United States, San Francisco
IP Address172.67.197.136
Threat TypeScam/Fraud
Scam TypeFraudulent offers of cryptocurrency services

How the Shortsbit Scam Works?

Shortsbit is yet another webpage within a wide-ranging network of linked crypto deceptive platforms. The administrators utilize diverse brand identities and websites, like Shortsbit.com, to trap victims. Nonetheless, these deceptive sites have in common the same designs, terms of service, and About content. This unveils their sources as parts of the same criminal network, which advocates the similar type of deception under diverse disguises. The scammers simply copy the equal fraudulent website under different names to deceive users into assuming they are joining a new venture. However, in actuality, it’s the identical group of swindlers orchestrating the deceptive commitments and attempts to grab deposited funds. The managers cleverly utilize psychological strategies and enticing propositions to execute their deceitful plans.

Step 1: Spreading

To initiate the fraud, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and paid advertisements (when feasible), fraud actors increase the presence of their deceptive activities to potential victims. This tactic enables them to cast a wide net and engage with their focused audience. The group commonly consists of cryptocurrency enthusiasts looking for opportunities to generate profits.

Users obtain an encouragement to register, drawn by the assurance of receiving crypto benefits 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

People who express interest visit Shortsbit.com via links present in promotions or robotic posts. The website uses captivating visuals, design elements that appear authentic, and assertions of holding a official license, all designed to present an initial image of trustworthiness.

Step 3: Data Gathering

To redeem their prizes, users need to actively sign up on Shortsbit and get instructions to submit sensitive and personal information throughout the sign-up procedure. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification papers, and the like.

Step 4: Requesting funds

Once enrolled, users observe substantial amounts of cryptocurrency, valued at thousands of dollars, within their Shortsbit wallets. Nevertheless, as it usually happens with such rewards, you can’t withdraw them prior to making a deposit. Typically, a deposit of $100 is required to access the sign-up bonus. This condition serves as the snare that ultimately leads to the money loss.

Step 5: Disappear

The moment the payment is submitted, the fraudsters cease all contact. They move forward to block users, erase accounts, and abscond with both the submitted funds and critical private details. The phony benefits persist perpetually uncredited, as they lack genuine existence. They act purely as a deceptive maneuver. This approach forms the foundation for the scammers’ capacity to deceive victims and steal hard-earned funds through their duplicative online crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Shortsbit 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 scam, its masters may reach out to you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we earlier figured out, these scoundrels have no intent of restoring your money. So, what can these messages and browser extensions represent? Correct – that is another side of the scam designed to entice you into willingly running destructive programs onto your device.

Both add-ons and files attached to email messages can act as a carrier for various malware. In this case, I anticipate the presence of spyware and stealers among all forms of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always existent. As previously mentioned, their conscience is of little concern, and their dignity is already severely tarnished. They have no principles to lose and strive to maximize 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.

Gridinsoft Anti-Malware - Main Screen

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.

setup-gridinsoft-fix.exe

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

Gridinsoft Setup Wizard

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.

Scan for spyware malicious programs

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.

The spyware was Found

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.

The spyware has been removed

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.

Trojan Killer - Main View

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.

Download Trojan Killer

2. Insert a USB flash drive into this computer.

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

Install Trojan Killer to Removable Drive

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.

Click Update Button

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.

Searching spyware Virus

Step 4: Remove Found Threats:

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

Searching spyware Finished

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.

Restart needed

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

Is there any real info on Shortsbit site?

The vast majority of information posted on the Shortsbit site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Shortsbit site promices real?

No, there is no legitimate information on the Shortsbit site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Shortsbit scam?

Unfortunately, recovering funds lost to a scam like Shortsbit can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Question Unrealistic Promises. Approach offers that promise unrealistically high returns or guaranteed profits with caution. If an investment opportunity sounds too good to be true, it probably is.
  2. Scrutinize Celebrity Endorsements. Exercise skepticism when encountering endorsements from celebrities or public figures. Scammers often create fabricated endorsements to enhance their credibility.
  3. Verify Regulation and Licensing. Investigate whether the platform or service holds proper regulation and licenses from relevant authorities. Scammers frequently operate without legitimate authorization.
  4. Consult Reviews and Feedback. Seek out independent reviews and feedback from other traders. Positive reviews can be falsified, but negative reviews may offer valuable insights.
  5. Resist Urgency. Be wary of tactics that use a false sense of urgency to rush your decisions. Legitimate investments provide the necessary time for thorough research and contemplation.

What should I do as a victim of a Shortsbit.com scam?

If you have become a victim of a Shortsbit or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
The truth about Shortsbit

Name: Shortsbit

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Shortsbit, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Shortsbit 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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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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