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

Recently, Teslalex.com website surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable supporting information that unmistakably indicates it is, in truth, a scam platform.

Despite the promises of the most easy, dependable, and client-friendly service, Teslalex.com does not offer any of them. All this is just a golden wrap around a blatant scam, which steals your money and never returns them. Any tales about gifts, sponsorship from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Teslalex Scam Overview

Originally, Teslalex poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another bright marketing point for this service is backing from celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, con actors use deepfake videos where those celebrities promote the fraud 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 glaring wrap around an obvious scam.

Teslalex Scam

First and foremost, Teslalex copies the design of numerous equivalent online platforms. There are quite a few examples, like Colebitx, Macxmusk or Bexbits. They are completely undistinguishable in terms of visual elements, with minor discrepancies in the site header. Other particulars, and at times even crypto wallet addresses, are unchanged. Probably, all these deceptive sites are led by a single team of swindrels.

Cryptocurrency Scam Summary

How the Teslalex Scam Works?

Teslalex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various website designs, which still share the same 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 advanced 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 start the scam, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and paid advertisements (when possible), scam actors intensify the visibility of their scam activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the aforementioned celebrities that advertise 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 Teslalex in TikTok. Most of these videos are AI-generated deepfakes

Users get an incentive to sign up, drawn by the assurance of obtaining crypto benefits valued at thousands of dollars, all for free. To increase the appeal of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the ads, victims end up on a page filled with appealing offers. “Crypto starts with Teslalex”, “Your crypto savings are secured with Teslalex, “Start earning with Teslalex – they look rather credible. To heat up the interest and make the users proceed to step 3, crooks say that unlocking the promised 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 get away from the scam without any losses. Before you sign up using your personal info, frauds will not 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, scammers bait folks into registration to get bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this information 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 at least crypto purchases on the platform with it, the user should top up the account with the sum of a bonus. And this is what starts the final step of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency purchases require you to have funds on your account. With Teslalex, users are also compelled to top up to claim the bonuses. And these top ups is what creates most 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 website hoping to use all the deposited funds and withdraw them.

This, however, is where the first obvious problems start to surface. When comparing the real cryptocurrency wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that scoundrels are naught on intentions to send you money. Though to make it look more legitimate, they’ve developed a whole bunch of reasons to decline the wireout request. Usually, they repeat what Know Your Client guidelines say, but in this case they are here exclusively to make the withdrawal impossible.

By requesting your personal info, frauds just stall hoping for you to understand that you’ve been scammed 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 share 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 Teslalex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Teslalex 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 set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto savings. As we already determined, these scoundrels have no intent of returning your money. So, what can these messages and browser extensions represent? You guessed – that is another element of the scam designed to throw you into deliberately installing harmful applications onto your computer.

Both extensions and attachments attached to email messages can function as a carrier for various malware. In this case, I foresee the presence of spyware and stealers among other types of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As stated, their ethics is of little concern, and their reputation is already severely tarnished. They have nothing to give up and intend to maximize revenues.

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