We Looked at the Evidence: Is Tebrex Legit or Scam?

Recently, Tebrex.com site surfaced, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably reveals it is, actually, a scam site.

Regardless of the promises of the most convenient, trustworthy, and customer-centric service, Tebrex.com does not follow any of them. In fact, all this is just a golden wrap around a blatant scam, which takes your funds and never returns them. Any tales about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Tebrex Scam Overview

Originally, Tebrex poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another bright marketing point for this platform 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 real, frauds employ deepfake videos with those celebs advertise the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a blatant wrap around a transparent scam.

Tebrex Scam

First and foremost, Tebrex repeats the design of multiple equivalent websites. There are quite a few examples, like Sorkex, Robycoin or Refolex. They are totally indistinguishable in terms of graphic elements, with slight discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are the same. Most likely, all these scam online platforms are led by a single group of fraudsters.

Cryptocurrency Scam Summary

How the Tebrex Scam Works?

Tebrex is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals 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 sophisticated psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Employing bots and paid advertisements (when achievable), scam actors increase the visibility of their scam activities to possible victims. And as I said, scammers do not disdain using generative AI for creating clips with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

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

Users obtain a stimulus to sign up, enticed by the commitment of receiving cryptocurrency prizes valued at thousands of dollars, all for free. To increase the attractiveness of the offer, false claims of sponsorship by a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After clicking the ads, users end up on a page filled with appealing offers. “Crypto starts with Tebrex”, “Your crypto savings are secured with Tebrex, “Start earning with Tebrex – they look rather reliable. To heat up users and make them proceed to step 3, crooks say that claiming the promised bonus requires registration. And since nothing concerning happens at this point, uninformed users happily move on – especially since the bonus appears to be right behind the corner.

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

Step 3: Data Gathering

This is where the main fraud action begins. As I just said, deceivers bait folks into signing up for bonuses. And all the personal data needed for it – username, email, crypto wallet address – are valuable for user identification. Only by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make at least crypto purchases on the platform with it, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any crypto purchases require you to have money on your account. In the case of Tebrex, users are also forced to top up to claim the bonuses. And these top ups is what creates the majority of the money flow to this scam website. 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, however, is where the first obvious issues start to surface. When comparing the actual crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have zero intentions to send you money. But to make the fraud look more legitimate, they’ve developed a whole bunch of reasons to decline the withdrawal request. Most of them repeat what Know Your Client requirements say, but in this case they are here exclusively to make the wireout impossible.

By asking for your personal info, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your funds back. And every check will uncover 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 Tebrex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Tebrex 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 masters may reach out to you with specific files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we already determined, these rascals have no intent of giving back your funds. So, what do these email messages and browser extensions represent? Correct – that is another element of the fraudulent scheme designed to entice you into deliberately installing malicious applications onto your device.

Both extensions and attachments included to email messages can function as a carrier for diverse malware. In this scenario, I expect the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the chance is always existent. As stated, their conscience is of no concern, and their reputation is already severely tarnished. They have nothing to give up and aim to maximize gains.

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