Investigating StarCryptex: Legit or Scam? The Truth Exposed

Recently, Starcryptex.com website appeared, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible proof that clearly confirms it is, actually, a scam service.

Regardless of the promises of the most easy, reliable, and customer-centric service, Starcryptex.com does not fulfill any of them. All this is just a golden wrap around a clear scam, which takes your funds and never gives them back. Any tales about bonuses, endorsement from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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StarCryptex Scam Overview

Originally, StarCryptex poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another notable marketing point for this service is backing from celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, rascals use AI-generated videos where those celebrities advertise the fraud as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

StarCryptex Scam

First and foremost, StarCryptex shares the design of numerous equivalent online platforms. There are quite a few examples, like Suldex, Vkevex or Vikrex. 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 matching. Presumably, all these scam sites are managed by a single gang of scammers.

Cryptocurrency Scam Summary

How the StarCryptex Scam Works?

StarCryptex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the similar overall layout. Another mutual 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals establish and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and paid ads (when feasible), scam actors boost the visibility of their scam activities to possible victims. And as I said, crooks do not shy away using deepfake for creating videos with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users get a stimulus to register, drawn by the commitment of obtaining crypto prizes valued at hundreds of dollars, all for free. To augment the attractiveness of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, targets end up on a page filled with enticing offers. “Crypto starts with StarCryptex”, “Your crypto savings are secured with StarCryptex, “Start earning with StarCryptex – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that claiming the pledged bonus requires registration. And as nothing concerning happens at this point, uninformed users happily proceed – especially since the gift appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you sign up using your personal info, swindrels will not 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, frauds bait folks into registration to get bonuses. And all the personal data needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this info 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 it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any cryptocurrency operations require having money on your account. With StarCryptex, users are also compelled to top up to use the bonuses. And these top ups is what creates the majority of the cash flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the deposited capital and withdraw them.

This is where the victim notices the problems. When comparing the real cryptocurrency wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have 0 intentions to give your money back. Though to make the denial look more realistic, they’ve crafted a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC guidelines say, but for the Starcryptex.com they are here exclusively to make the wireout impossible.

By requesting your personal data, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your funds back. And each of these checks will uncover more and more info of yours, which – you guessed it right – will be then marketed 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 Starcryptex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Starcryptex.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. StarCryptex 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. StarCryptex 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. StarCryptex 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%, StarCryptex capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Starcryptex.com as a definite scam.

What Should I do as a Victim?

If you had to deal with StarCryptex 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 scam, its actors may reach out to you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we previously determined, these scammers have no intention of restoring your funds. So, what can these email messages and browser plugins represent? Correct – this is another side of the deceptive plan designed to throw you into deliberately installing destructive software onto your system.

Both plugins and attachments attached to email messages can serve as a carrier for various malicious code. In this situation, I foresee the presence of spyware and stealers among other forms of malicious programs. While it is not mandatory for scammers to distribute malware, the chance is always above zero. As stated, their conscience is of no concern, and their reputation is already deeply compromised. They have no principles to give up and aim to maximize revenues.

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