The Tenelax Scam – Don’t Become the Next Victim

Recently, Tenelax.com service surfaced, promoting itself as a place where you can safely store cryptocurrency and other assets. I managed to gather credible evidence that unmistakably indicates it is, in fact, a scam service.

Despite the promises of the most convenient, dependable, and client-friendly service, Tenelax.com does not fulfill any of them. All this is just a golden wrap around a clear scam, which takes your funds and never returns them. Any stories about bonuses, sponsorship from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Tenelax Scam Overview

Originally, Tenelax poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another highlighted marketing point for this platform is backing from celebrities that are known as crypto activists. 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 with those celebs promote the fraud as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a vivid wrap around a transparent scam.

Tenelax Scam

Initially, Tenelax shares the design of multiple similar online platforms. There are quite a few examples, like Sxmwvp, Qzsuwo or Quqex. They are completely indistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are unchanged. Probably, all these scam websites are operated by the same team of fraudsters.

Cryptocurrency Scam Summary

How the Tenelax Scam Works?

Tenelax is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use several website designs, which still share the identical overall layout. Another common 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 complex 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 deceptive scheme, criminals set up and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and sponsored ads (when possible), scam actors intensify the visibility of their scam activities to possible victims. And as I said, crooks do not shy away using generative AI 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 registers the service immediately.

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

Users receive an encouragement to register, attracted by the assurance of obtaining crypto prizes valued at thousands of dollars, all free of charge. To increase the appeal of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the promos, victims end up on a page filled with attractive offers. “Crypto starts with Tenelax”, “Your crypto savings are secured with Tenelax, “Start earning with Tenelax – they look rather authoritative. To heat up users and make them proceed to step 3, scammers say that retrieving the promoted bonus requires registration. And as nothing concerning 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 steer away from the scam without any losses. Before you register using your personal data, rascals will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

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

As it turns out, the alleged bonus is not available to use right away. To make it at least usable for crypto purchases, you need to 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

Eventually, any crypto operations require you to have funds on your account. With Tenelax, users are also forced to top up to use 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 promised gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the deposited money and withdraw them.

This is where the victim notices the issues. When comparing the actual crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to pull out the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have no intentions to return your money. Though to make it look more realistic, they’ve developed a whole bunch of reasons to decline the wireout request. Most of them repeat what Know Your Client guidelines say, but for the Tenelax.com they are here exclusively to make the wireout impossible.

By requesting your personal info, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your grand 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 Tenelax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Tenelax 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 particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we already figured out, these rascals have no intention of giving back your funds. So, what do these emails and browser add-ons represent? You guessed it right – that is another side of the fraudulent scheme designed to entice you into willingly running harmful applications onto your computer.

Both add-ons and files included to email messages can serve as a shell for different malicious software. In this scenario, I anticipate the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the probability is always existent. As previously mentioned, their ethics is of no concern, and their dignity is already seriously marred. They have no principles to give up and aim to boost revenues.

Remove spyware with Gridinsoft Anti-Malware

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