Investigating Spacexjet: Legit or Scam? The Truth Revealed

Recently, Spacexjet.com website surfaced, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather reliable proof that clearly confirms it is, in truth, a fraudulent platform.

Regardless of the promises of the most easy, trustworthy, and customer-centric service, Spacexjet.com does not follow any of them. All this is just a gilded wrap around a clear scam, which steals your money and never returns them. Any tales about gifts, endorsement from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Spacexjet Scam Overview

Originally, Spacexjet poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another highlighted marketing point for this site is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, frauds employ deepfake videos where those celebrities advertise the scam as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Spacexjet Scam

To begin with, Spacexjet repeats the appearance of numerous similar online platforms. There are quite a few examples, like Sneewex, Navbitexchange or Fluntex. They are entirely indistinguishable in terms of visual elements, with slight discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are identical. Presumably, all these fraudulent online platforms are managed by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Spacexjet Scam Works?

Spacexjet is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the identical overall layout. Another shared 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 advanced psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals set up and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid ads (when possible), fraud actors intensify the visibility of their scam activities to possible victims. And as I said, crooks do not disdain using deepfake for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who enrolls the service immediately.

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

Users get an incentive to sign up, attracted by the promise of obtaining cryptocurrency rewards valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After following the ads, users end up on a page filled with appealing offers. “Crypto starts with Spacexjet”, “Your crypto savings are secured with Spacexjet, “Start earning with Spacexjet – they look rather authoritative. To heat up the interest and make the users proceed to step 3, scammers say that unlocking the pledged bonus requires registration. And as nothing suspicious happens at this point, unaware users happily keep on – especially as the reward appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you register using your personal data, frauds will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, deceivers bait folks for registration with bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Eventually, any cryptocurrency purchases require you to have capital on your account. With Spacexjet, users are also forced to top up to get the bonuses. And this is what creates the majority of the money 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 site hoping to use all the deposited money and withdraw them.

This is where the victim notices the issues. When keeping an eye on the real cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw 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 have no intentions to send you money. Though to make it look more legitimate, they’ve crafted a whole bunch of reasons to decline the transfer-out request. Most of them repeat what KYC regulations say, but for the Spacexjet.com they are here exclusively to make the withdrawal impossible.

By asking for your personal info, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your funds back. And each of these checks will reveal more and more information, which – you guessed it right – will be then traded 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 Spacexjet.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Spacexjet.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Spacexjet arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Spacexjet resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Spacexjet employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Spacexjet capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Spacexjet.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Spacexjet 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, its masters may get in touch with you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we already figured out, these rascals have no intention of restoring your funds. So, what do these emails and browser extensions represent? You guessed – this is another component of the fraudulent scheme designed to entice you into willingly running destructive software onto your device.

Both extensions and attachments included to email messages can function as a shell for various malicious code. In this situation, I anticipate the presence of spyware and stealers among other types of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always greater than zero. As previously mentioned, their ethics is of negligible importance, and their dignity is already deeply compromised. They have no scruples to lose and aim to maximize revenues.

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Frequently asked questions

The truth about Spacexjet

Name: Spacexjet

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