We Investigated Spaxnex: Legit or Scam? The Facts

Recently, Spaxnex.com service surfaced, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible evidence that unmistakably indicates it is, in truth, a scam platform.

Contrary to the assertions of Spaxnex.com, they won’t ever give back your capital. Regardless of the numbers displayed in the “member area”, there is zero possibility to take out even a cent. All promises regarding crypto rewards are hollow as well.

It is better to prevent, than repair and repent!

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Spaxnex Scam Overview

The key feature that Spaxnex strives to provide is a protected and user-friendly crypto wallet service. The site promises exchange services, tools for controlling wallets, transfers, dashboards, and the like. In truth, they try to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it in fact solely serves as a shell intended to mislead the cautious.

Spaxnex Scam

To begin with, Spaxnex reproduces the layout of many similar pages. There are quite a few examples, like Somsbit, Bititrox or Bitdexa. They are completely undistinguishable in terms of visual elements, with small discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Probably, all these deceptive sites are managed by the same group of swindrels.

Cryptocurrency Scam Summary

How the Spaxnex Scam Works?

Spaxnex is yet another website within a vast network of interconnected crypto deceptive platforms. The administrators employ various brand names and sites, like Spaxnex.com, to trap victims. Nonetheless, these false sites share matching designs, terms of service, and About Us content. This reveals their beginnings as parts of the equal scam network, which endorses the identical mode of scam under diverse appearances. The scammers simply replicate the identical fraudulent site under diverse names to deceive users into thinking they are joining a new venture. However, in actuality, it’s the same system of scammers orchestrating the misleading commitments and efforts to grab deposited money. The managers skillfully employ psychological strategies and captivating offers to implement their deceitful schemes.

Step 1: Spreading

To initiate the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and paid promotions (when feasible), scam actors intensify the visibility of their fraudulent activities to possible victims. This strategy enables them to cast an extensive net and connect with their targeted audience. This group usually comprises of cryptocurrency enthusiastic individuals seeking chances to make profits.

Users get an incentive to register, enticed by the commitment of getting crypto benefits valued at thousands of dollars, all for free. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Individuals who express interest go to Spaxnex.com via links present in advertisements or robotic posts. The webpage utilizes captivating visuals, design aspects that appear authentic, and assertions of holding a official license, all intended to project an initial perception of trustworthiness.

Step 3: Data Gathering

To claim their benefits, users are required to proactively sign up on Spaxnex and get prompts to submit sensitive and personal data throughout the registration process. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification papers, and the like.

Step 4: Requesting funds

Once registered, users observe considerable amounts of cryptocurrency, valued at thousands of dollars, within their Spaxnex wallets. However, as it usually happens with such bonuses, you are unable to withdraw them ahead of topping up your account. Typically, a deposit of $100 is asked to get the sign-up bonus. This stipulation serves as the trap that eventually culminates to the money loss.

Step 5: Disappear

The instant the deposit is sent, the fraudsters halt all contact. They proceed to block users, delete accounts, and disappear with both the transferred funds and essential individual data. The phony rewards remain perpetually uncredited, as they lack genuine existence. They function exclusively as a deceptive maneuver. This method forms the foundation for the fraudsters’ capacity to mislead victims and steal hard-earned funds through their duplicative online crypto scheme.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Spaxnex 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 fraud, fraudsters may get in touch with you with particular files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we previously figured out, these scoundrels have no plan of returning your funds. So, what do these messages and browser extensions represent? Correct – that is another element of the fraudulent scheme designed to entice you into willingly installing harmful applications onto your system.

Both plugins and files attached to emails can act as a carrier for different malicious software. In this scenario, I anticipate the presence of spyware and stealers among all kinds of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always existent. As previously mentioned, their ethics is of no concern, and their reputation is already neck deep in mud. They have no principles to give up and intend to boost profits.

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 Spaxnex

Name: Spaxnex

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