Skycoinx Reviewed: Legit or Total Ripoff? Read This First

Recently, Skycoinx.com website appeared, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible supporting information that clearly reveals it is, actually, a scam site.

Despite what Skycoinx site states, they will never refund your money. Even though the figures displayed in the “member area”, there is absolutely no possibility to retrieve even a single coin. All commitments regarding crypto incentives are hollow as well.

Skycoinx Scam Overview

The key offering that Skycoinx strives to provide is a safe and user-friendly crypto wallet service. The site promises exchange facilities, tools for handling wallets, transfers, dashboards, and alike functions. In reality, they aim to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in fact exclusively serves as a shell needed to lull the vigilance.

Skycoinx Scam

First and foremost, Skycoinx imitates the appearance of numerous equivalent websites. There are quite a few examples, like Coinomn, Crysxbit or Keoxcoin. They are entirely undistinguishable in terms of visual elements, with minor discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are matching. Presumably, all these scam websites are operated by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Skycoinx Scam Works?

Skycoinx is yet another webpage within a wide-ranging network of linked crypto fraudulent sites. The managers utilize diverse brand identities and sites, like Skycoinx.com, to trap victims. Nevertheless, these fraudulent websites have in common the same designs, terms of service, and About content. This unveils their origins as a part of the identical scam network, which endorses the similar mode of deception under different appearances. The fraudsters simply duplicate the equal scam website under various names to mislead users into thinking they are enrolling a fresh platform. However, in reality, it’s the equal system of swindlers orchestrating the deceptive pledges and attempts to take deposited funds. The operators cleverly utilize psychological maneuvers and enticing propositions to carry out their deceitful plots.

Step 1: Spreading

To start the scam, criminals create and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and sponsored ads (when possible), scam actors boost the exposure of their deceptive activities to possible victims. This tactic enables them to create a wide net and engage with their focused viewers. The latter usually consists of cryptocurrency fans seeking opportunities to generate profits. This is a usual example of a message on social networks:

Step 2: Gaining Traffic

Users who express interest check out Skycoinx.com via links included in promotions or robotic posts. The website utilizes captivating visuals, design aspects that appear genuine, and assertions of possessing a legitimate license, all designed to convey an initial perception of credibility.

Step 3: Data Gathering

To redeem their benefits, users need to proactively sign up on Skycoinx and get guidance to provide sensitive and private data throughout the registration process. This includes linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, furnishing identification papers, and the like.

Step 4: Requesting funds

Once enrolled, users observe substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Skycoinx wallets. Nonetheless, as is common with such rewards, you can’t withdraw them ahead of making a deposit. Typically, a funds transfer of $100 is asked to get the sign-up bonus. This prerequisite serves as the enticement that ultimately leads to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Skycoinx 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 fraud, its actors may contact you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we previously figured out, these scoundrels have no intent of giving back your money. So, what can these email messages and browser extensions represent? Correct – this is another element of the fraudulent scheme designed to entice you into deliberately running malicious applications onto your computer.

Both plugins and attachments attached to emails can act as a carrier for various malware. In this case, I foresee the presence of spyware and stealers among other kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always existent. As noted, their morality is of negligible importance, and their dignity is already deeply compromised. They have no principles to lose and aim to boost profits.

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