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

Recently, Tensedex.com site appeared, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather reliable evidence that clearly reveals it is, actually, a scam service.

Regardless of the promises of the most convenient, reliable, and customer-centric service, Tensedex.com does not offer any of them. In fact, all this is just a golden wrap around a clear scam, which steals your money and never gives them back. Any stories about bonuses, endorsement from celebrities etc are nowhere to be found as well.

Tensedex Scam Overview

Originally, Tensedex poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another notable selling point for this service is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, con actors use AI-generated videos where those celebrities advertise the scam as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Tensedex Scam

To begin with, Tensedex repeats the layout of numerous similar websites. There are quite a few examples, like Telsox, Wexalbit or Nevexbit. They are totally undistinguishable in terms of visual elements, with small discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive sites are led by a single team of frauds.

Cryptocurrency Scam Summary

How the Tensedex Scam Works?

Tensedex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the same 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 sophisticated psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To begin the fraud, criminals establish and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and sponsored ads (when possible), scam actors increase the visibility of their scam activities to potential victims. And as I said, fraudsters do not disdain using generative AI for creating videos with the mentioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

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

Step 2: Gaining Traffic

After following the ads, victims end up on a page filled with enticing offers. “Crypto starts with Tensedex”, “Your crypto savings are secured with Tensedex, “Start earning with Tensedex – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that retrieving the promised bonus requires registration. And as nothing questionable happens at this point, unaware users happily keep on – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal info, frauds will not earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, frauds bait folks into signing up to get bonuses. And all the personal info needed for it – username, email, crypto wallet address – is valuable for user identification. Only by gathering this data and selling it further into the Darknet, crooks 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, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Obviously, any cryptocurrency purchases require having funds on your account. With Tensedex, users are also coerced to top up to use the bonuses. And these top ups is what creates the majority of the cash flow to this fraudulent site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred funds and withdraw them.

This, however, is where the victim notices the issues. When comparing the real crypto wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers are naught on intentions to return your money. Though to make the denial look more legitimate, they’ve developed a whole bunch of reasons to decline the transfer-out request. Most of them repeat what KYC guidelines say, but in this case they are here exclusively to make the withdrawal impossible.

By requesting your personal info, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo 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 Tensedex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Tensedex 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.

• Report the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

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 course of the scam, rascals may contact you with specific documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we previously figured out, these deceivers have no plan of returning your capital. So, what do these email messages and browser add-ons represent? You guessed – that is another element of the fraudulent scheme designed to entice you into willingly installing malicious applications onto your computer.

Both add-ons and files attached to email messages can act as a carrier for different malicious software. In this scenario, I foresee the presence of spyware and stealers among other forms of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As stated, their morality is of negligible importance, and their dignity is already deeply compromised. They have nothing to give up and strive to maximize gains.

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