The Todexy Scam – What You Need To Know

Recently, Todexy.com site popped up, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather credible supporting information that clearly indicates it is, in truth, a scam service.

Regardless of the promises of the most convenient, reliable, and customer-centric service, Todexy.com does not follow any of them. All this is just a gilded wrap around a blatant scam, which steals your funds and never returns them. Any tales about bonuses, endorsement from celebrities etc are non-existent as well.

Todexy Scam Overview

Originally, Todexy poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another highlighted selling point for this service is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, frauds employ AI-generated videos where those celebrities advertise the fake crypto service as 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 vivid wrap around an obvious scam.

Todexy Scam

First and foremost, Todexy repeats the layout of many similar pages. There are quite a few examples, like Numlix, Coinxnest or Btcnox. They are entirely identical in terms of visual elements, with minor discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive websites are operated by the same group of scammers.

Cryptocurrency Scam Summary

How the Todexy Scam Works?

Todexy is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the identical 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 advanced 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 initiate the fraud, criminals set up and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid promotions (when feasible), fraud actors boost the visibility of their deceptive activities to possible victims. And as I said, crooks do not shy away using deepfake for creating videos with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

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

Step 2: Gaining Traffic

Upon following the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Todexy”, “Your crypto savings are secured with Todexy, “Start earning with Todexy – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that unlocking the promised bonus requires registration. And as nothing suspicious happens at this point, unexperienced users happily proceed – especially since the bonus appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you register using your personal info, swindrels 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, deceivers bait folks into signing up for bonuses. And all the personal info needed for it – email, username, crypto wallet address – is valuable for user identification. Only by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available for withdrawal 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 step of the scam.

Step 4: Requesting funds

It is obvious that any crypto purchases require having capital on your account. In the case of Todexy, 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 scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the deposited money and withdraw them.

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

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have 0 intentions to return your money. But to make it look more legitimate, they’ve developed a whole pack of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client requirements say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal info, frauds 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 reveal more and more info of yours, 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 Todexy.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Todexy employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Todexy exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Todexy as a scam.
• Dubious Corporate Information. Todexy arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Todexy.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Todexy utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Todexy 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 fraud, scoundrels may get in touch with you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we earlier determined, these rascals have no intent of restoring your funds. So, what do these emails and browser extensions represent? Correct – that is another component of the scam designed to entice you into willingly installing harmful applications onto your device.

Both add-ons and files included to emails can act as a carrier for diverse malicious software. In this scenario, I expect the presence of spyware and stealers among other forms of malware. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As stated, their conscience is of no concern, and their reputation is already deeply compromised. They have nothing to lose and aim to boost profits.

Frequently asked questions