The Teslyox Scam – What You Need To Know

Recently, Teslyox.com service appeared, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather reliable supporting information that clearly confirms it is, actually, a fraudulent site.

Despite the promises of the most user-friendly, trustworthy, and customer-centric service, Teslyox.com does not offer any of them. All this is just a shiny wrap around a dirty scam, which takes your money and data and never returns them. Any stories about bonuses, backing from celebrities etc are nowhere to be found as well.

Teslyox Scam Overview

Originally, Teslyox poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another notable marketing point for this platform is partnerships with celebrities that are known in 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, frauds use AI-generated videos where those celebrities promote the scam as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a blatant wrap around a transparent scam.

Teslyox Scam

First and foremost, Teslyox shares the layout of multiple equivalent websites. There are quite a few examples, like Somenex, Marketxploretrade or Coinskypro. They are entirely 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 deceptive online platforms are led by the same team of scammers.

Cryptocurrency Scam Summary

How the Teslyox Scam Works?

Teslyox is a part of a significant 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals set up and fill accounts on well-liked social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Employing bots and sponsored ads (when possible), scam actors increase the visibility of their fraudulent activities to possible victims. And as I said, crooks do not disdain using deepfake for creating clips with the mentioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

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

Step 2: Gaining Traffic

After clicking the promos, victims end up on a page filled with attractive offers. “Crypto starts with Teslyox”, “Your crypto savings are secured with Teslyox, “Start earning with Teslyox – they look rather authoritative. To heat up users and make them proceed to step 3, fraudsters say that claiming the promoted bonus requires registration. And as nothing concerning happens at this point, unexperienced users happily proceed – especially as the bonus 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 sign up using your personal data, frauds will not earn even a penny from your presence on the website.

Step 3: Data Gathering

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

As it turns out, you cannot use the alleged bonus right away. To make at least cryptocurrency purchases on the platform with it, 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 crypto operations require you to have funds on your account. With Teslyox, users are also forced to top up to claim the bonuses. And these top ups is what creates the majority of the cash flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the deposited capital and withdraw them.

This, however, is where the first obvious issues start to surface. When comparing the actual cryptocurrency wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to withdraw the capital 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 send you money. But to make the fraud look more legitimate, they’ve crafted a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC guidelines say, but for the Teslyox.com they are here exclusively to make the wireout impossible.

By requesting your personal info, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your money back. And every check will share more and more information, which – you guessed it right – will be then marketed 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 Teslyox.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Teslyox 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, scoundrels may get in touch with you with particular files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we already determined, these scoundrels have no intention of giving back your funds. So, what can these messages and browser add-ons represent? Correct – this is another component of the scam designed to throw you into willingly running malicious programs onto your system.

Both add-ons and attachments added to email messages can function as a shell for different malicious code. In this scenario, I foresee the presence of spyware and stealers among other types of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their morality is of little concern, and their dignity is already neck deep in mud. They have no principles to give up and intend to maximize gains.

Frequently asked questions