The Truth About TencenBit: Legit or Scam? Our Review

Recently, Tencenbit.com service popped up, promoting itself as a place to store cryptocurrency and other assets securely. I managed to gather reliable evidence that clearly indicates it is, actually, a fraudulent site.

Despite what TencenBit site states, they won’t ever pay off your capital. Even though the money displayed in the “member area”, there is absolutely no ability to take out even a single penny. All commitments regarding crypto bonuses are hollow as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

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TencenBit Scam Overview

The main feature that TencenBit attempts to provide is a protected and convenient cryptocurrency wallet service. The site pledges crypto exchange facilities, tools for controlling wallets, transfers, dashboards, and similar stuff. In reality, they endeavor to emulate the functionality of a crypto marketplace, akin to Binance or Coinbase. However, it in fact only serves as a shell needed to lull the vigilance.

TencenBit Scam

To begin with, TencenBit imitates the layout of many similar websites. There are quite a few examples, like Specttrade, Empirexs or Corleox. They are entirely indistinguishable in terms of visual elements, with slight discrepancies in the website header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these fraudulent online platforms are operated by a single gang of swindrels.

Cryptocurrency Scam Summary

How the TencenBit Scam Works?

TencenBit is yet another online platform within a wide-ranging network of interconnected crypto scam sites. The managers utilize various brand names and sites, like Tencenbit.com, to trap victims. However, these false sites share matching website designs, terms of service, and About information. This exposes their beginnings as components of the same fraudulent network, which advocates the similar type of fraud under diverse covers. The fraudsters merely replicate the identical deceptive website under various names to fool users into believing they are enrolling a new venture. However, in actuality, it’s the equal system of swindlers orchestrating the deceptive promises and attempts to grab deposited money. The operators cleverly employ psychological maneuvers and enticing propositions to implement their unscrupulous plots.

Step 1: Spreading

To begin the scam, criminals create and fill accounts on popular social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Employing bots and paid ads (when feasible), scam actors increase the presence of their fraudulent activities to possible victims. This approach enables them to create a wide net and engage with their targeted viewers. This public commonly consists of cryptocurrency fans searching for prospects to generate profits.

Users obtain an incentive to register, enticed by the commitment of getting crypto rewards valued at thousands of dollars, all for free. To enhance the attractiveness of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Users who show interest visit Tencenbit.com via links featured in promotions or bot-generated posts. The site employs captivating visuals, design features that appear legitimate, and claims of having a valid license, all designed to convey an initial image of credibility.

Step 3: Data Gathering

To collect their rewards, users must actively sign up on TencenBit and receive instructions to provide sensitive and private information throughout the registration process. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once signed up, users witness substantial amounts of cryptocurrency, valued at thousands of dollars, within their TencenBit wallets. Nonetheless, as it usually happens with such incentives, you cannot withdraw them before topping up your account. Usually, a deposit of $100 is asked to withdraw the sign-up bonus. This prerequisite serves as the enticement that eventually leads to the money loss.

Step 5: Disappear

The instant the deposit is sent, the deceivers halt all interaction. They move forward to restrict users, erase accounts, and vanish with both the transferred funds and critical individual data. The fabricated rewards persist perpetually uncredited, as they lack genuine existence. They act exclusively as a deceptive ploy. This method forms the foundation for the scammers’ ability to deceive victims and misappropriate hard-earned money through their deceptive web crypto fraud.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with TencenBit 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 fraud, rascals may contact you with particular files. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we already figured out, these rascals have no intent of restoring your funds. So, what do these email messages and browser add-ons represent? Correct – this is another component of the fraudulent scheme designed to entice you into deliberately running malicious programs onto your system.

Both plugins and files added to email messages can act as a shell for different malware. In this situation, I anticipate the presence of spyware and stealers among other forms of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As noted, their conscience is of little concern, and their dignity is already seriously marred. They have no principles to lose and strive to maximize gains.

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 TencenBit

Name: TencenBit

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