Is TeslaQuant Legit or Another Scam? The Truth Revealed

Recently, Teslaquant.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible supporting information that unmistakably confirms it is, in fact, a deceptive site.

Regardless of the promises of the most easy, reliable, and client-friendly service, Teslaquant.com does not fulfill any of them. In fact, all this is just a shiny wrap around a clear scam, which steals your funds and never returns them. Any stories about gifts, endorsement from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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TeslaQuant Scam Overview

Originally, TeslaQuant poses as a crypto trading & cryptowallet service with outstandingly low commission fees. Another bright selling point for this service is backing from celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, con actors employ AI-generated videos with those celebs promote the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

TeslaQuant Scam

Initially, TeslaQuant copies the layout of multiple similar pages. There are quite a few examples, like Manerex, Tradezon or Lucenax. They are completely indistinguishable in terms of visual elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are matching. Most likely, all these fraudulent sites are led by a single group of scammers.

Cryptocurrency Scam Summary

How the TeslaQuant Scam Works?

TeslaQuant is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use various website designs, which still share the same 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 initiate the scam, criminals establish and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid advertisements (when achievable), fraud actors boost the presence of their deceptive activities to potential victims. And as I said, crooks do not shy away using generative AI for creating videos with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.

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

Users obtain a stimulus to enroll, drawn by the commitment of obtaining cryptocurrency prizes valued at thousands of dollars, all without cost. To augment the appeal of the offer, fake 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 attractive offers. “Crypto starts with TeslaQuant”, “Your crypto savings are secured with TeslaQuant, “Start earning with TeslaQuant – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that retrieving the promoted bonus requires registration. And as nothing suspicious happens at this point, unaware users happily keep on – especially since the gift appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal data, crooks 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, frauds bait folks for registration with bonuses. And all the personal information needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal right away. To make it at least usable for crypto purchases, you need to top up the account with the sum of a bonus. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Obviously, any cryptocurrency purchases require you to have money on your account. In the case of TeslaQuant, users are also coerced to top up to use the bonuses. And these top ups is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the deposited funds and withdraw them.

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

Step 5: Escaping from Funds Withdrawal

Needless to say that fraudsters have no intentions to send you money. But to make the denial look more legitimate, they’ve crafted a whole pack of reasons to decline the transfer-out request. Most of them repeat what KYC guidelines say, but for the Teslaquant.com they are here only to make the wireout impossible.

By asking for your personal data, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your money back. And every check will reveal more and more info of yours, 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 Teslaquant.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with TeslaQuant 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 duration of the fraud, its masters may reach out to you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we already figured out, these deceivers have no plan of restoring your money. So, what do these messages and browser extensions represent? You guessed – this is another element of the deceptive plan designed to throw you into deliberately running malicious software onto your computer.

Both plugins and files added to emails can act as a shell for various malicious software. In this scenario, I expect the presence of spyware and stealers among all types of malware. While it is not obligatory for scammers to distribute malware, the probability is always significant. As stated, their conscience is of little concern, and their dignity is already deeply compromised. They have nothing to give up and strive to boost revenues.

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