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

Recently, Solarxbit.com website appeared, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather credible supporting information that unmistakably indicates it is, in truth, a deceptive service.

Contrary to the assertions of Solarxbit.com, they won’t ever return your capital. Even though the numbers displayed in the “member area”, there is zero means to retrieve even a single coin. All promises regarding crypto rewards are hollow as well.

Solarxbit Scam Overview

The key offering that Solarxbit aims to provide is a safe and user-friendly cryptocurrency wallet service. The site pledges exchange services, tools for managing wallets, transfers, dashboards, and similar stuff. In reality, they aim to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it in fact exclusively serves as a shell needed to fool the cautious.

Solarxbit Crypto Scam – Main Page

To begin with, Solarxbit imitates the layout of many equivalent websites. There are quite a few examples, like Coinarken, Rakexbit or Biosunex. They are totally indistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other particulars, and at times even crypto wallet addresses, are identical. Presumably, all these deceptive websites are managed by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Solarxbit Scam Works?

Solarxbit is yet another website within a wide-ranging network of associated crypto deceptive platforms. The managers employ different brand identities and sites, like Solarxbit.com, to capture victims. Nonetheless, these fraudulent sites share the same designs, terms of service, and About information. This unveils their beginnings as components of the identical scam network, which promotes the same type of fraud under different appearances. The scammers merely copy the equal scam site under diverse names to mislead users into assuming they are joining a new venture. However, in actuality, it’s the identical system of fraudsters orchestrating the misleading pledges and efforts to grab deposited money. The managers shrewdly utilize psychological maneuvers and captivating offers to execute their dishonest plots.

Step 1: Spreading

To initiate the fraud, criminals set up and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Using bots and sponsored advertisements (when achievable), fraud actors intensify the presence of their deceptive activities to possible victims. This strategy permits them to create an extensive net and connect with their targeted audience. The latter usually comprises of cryptocurrency enthusiastic individuals searching for opportunities to earn profits.

Step 2: Gaining Traffic

Individuals who show interest go to Solarxbit.com via links included in promotions or robotic posts. The site uses captivating visuals, design features that appear legitimate, and assertions of having a official license, all aimed to convey an initial image of credibility.

Step 3: Data Gathering

To claim their prizes, users need to deliberately sign up on Solarxbit and receive instructions to submit sensitive and private information throughout the enrollment procedure. This includes linking their cryptocurrency wallets, revealing email addresses, giving phone numbers, sending in identification documents, and more.

Step 4: Requesting funds

Once signed up, users notice significant amounts of cryptocurrency, valued at hundreds of dollars, within their Solarxbit wallets. Nevertheless, as is standard with such bonuses, you can’t withdraw them prior to making a deposit. Typically, a deposit of $100 is asked to get the sign-up bonus. This prerequisite serves as the trap that eventually leads to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Solarxbit 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 duration of the fraud, fraudsters may reach out to you with specific documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we already determined, these scoundrels have no intent of giving back your money. So, what can these messages and browser add-ons represent? You guessed it right – this is another component of the scam designed to entice you into deliberately installing malicious software onto your device.

Both add-ons and files added to emails can serve as a shell for various malicious code. In this case, I foresee the presence of spyware and stealers among all types of malware. While it is not mandatory for scammers to distribute malware, the probability is always existent. As previously mentioned, their conscience is of little concern, and their reputation is already severely tarnished. They have nothing to give up and strive to maximize revenues.

Frequently asked questions