We Investigated Tenxchange: Legit or Scam? The Facts

Recently, Tenxchange.com service surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable proof that unmistakably indicates it is, in truth, a deceptive service.

Contrary to the assertions of Tenxchange.com, they won’t return your funds. Even though the figures displayed in the “member area”, there is zero possibility to retrieve even a single penny. All pledges 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.

DOWNLOAD NOW

Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon

Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Tenxchange Scam Overview

The main feature that Tenxchange attempts to provide is a protected and convenient cryptocurrency wallet service. The site promises exchange facilities, tools for controlling wallets, transfers, dashboards, and similar stuff. In reality, they endeavor to emulate the functionality of a crypto exchange, akin to Binance or Coinbase. However, it actually solely serves as a cover intended to lull the vigilance.

Tenxchange Scam

Initially, Tenxchange reproduces the layout of numerous similar online platforms. There are quite a few examples, like Mucoinex, Lunabitex or Levixbit. They are entirely undistinguishable in terms of graphic elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these deceptive sites are managed by a single gang of swindrels.

Cryptocurrency Scam Summary

How the Tenxchange Scam Works?

Tenxchange is yet another website within a vast network of associated crypto fraudulent webpages. The managers employ various brand identities and websites, like Tenxchange.com, to ensnare victims. However, these deceptive sites have in common matching designs, terms of service, and About information. This unveils their sources as parts of the identical fraudulent network, which promotes the identical type of deception under different disguises. The fraudsters simply copy the same deceptive site under diverse names to mislead users into assuming they are participating in a fresh platform. However, in actuality, it’s the equal group of scammers orchestrating the misleading promises and undertakings to take deposited money. The operators shrewdly utilize psychological strategies and enticing offers to carry out their deceitful plans.

Step 1: Spreading

To initiate the scam, criminals create and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and paid advertisements (when feasible), fraud actors boost the presence of their scam activities to possible victims. This strategy permits them to create a broad net and interact with their focused audience. The latter typically consists of cryptocurrency enthusiasts looking for opportunities to make profits.

Users get a stimulus to register, enticed by the commitment of receiving crypto rewards valued at thousands of dollars, all without cost. To augment the appeal of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Users who demonstrate interest visit Tenxchange.com via links included in advertisements or robotic posts. The website utilizes captivating visuals, design aspects that appear genuine, and assertions of having a valid license, all aimed to project an initial impression of trustworthiness.

Step 3: Data Gathering

To collect their prizes, users need to actively sign up on Tenxchange and receive guidance to provide sensitive and personal information during the registration procedure. This includes linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification documents, and more.

Step 4: Requesting funds

Once enrolled, users notice substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Tenxchange wallets. Nevertheless, as it usually happens with such bonuses, you cannot withdraw them prior to making a deposit. Usually, a funds transfer of $100 is required to get the sign-up bonus. This condition serves as the enticement that eventually culminates to the money loss.

Step 5: Disappear

The point in time the payment is sent, the deceivers terminate all interaction. They move forward to bar users, delete accounts, and vanish with both the deposited capital and vital individual details. The fabricated rewards continue to be perpetually uncredited, as they lack actual existence. They act solely as a phishing ploy. This approach forms the foundation for the scammers’ capacity to deceive victims and embezzle hard-earned earnings through their duplicative internet-based crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Tenxchange 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 course of the fraud, fraudsters may contact you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we previously figured out, these deceivers have no plan of giving back your money. So, what do these messages and browser plugins represent? Correct – that is another element of the scam designed to entice you into willingly installing destructive applications onto your device.

Both extensions and files included to email messages can act as a carrier for different malicious software. In this scenario, I expect the presence of spyware and stealers among other forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As previously mentioned, their morality is of no concern, and their dignity is already seriously marred. They have nothing to give up and strive to maximize revenues.

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 Tenxchange

Name: Tenxchange

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Tenxchange, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Tenxchange scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

Sending

User Review

3.83 (6 votes)

Comments Rating 0 (0 reviews)