The Traderprofx Scam – Don’t Become the Next Victim

Recently, Traderprofx.com website popped up, promoting itself as a place where you can securely keep cryptocurrency and other assets. I managed to gather credible evidence that unmistakably confirms it is, actually, a fraudulent site.

Regardless of the promises of the most convenient, reliable, and customer-centric service, Traderprofx.com does not follow any of them. In fact, all this is just a gilded wrap around a dirty scam, which takes your money and never gives them back. Any tales about bonuses, endorsement from celebrities etc are absent as well.

Traderprofx Scam Overview

Originally, Traderprofx poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another bright marketing point for this site is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, rascals employ deepfake videos with those celebs advertise the fraud as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

Traderprofx Scam

To begin with, Traderprofx copies the layout of numerous equivalent websites. There are quite a few examples, like Upbeastcoin, Pluwex or Ragnarbit. They are completely identical in terms of visual elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Most likely, all these scam sites are operated by a single group of fraudsters.

Cryptocurrency Scam Summary

How the Traderprofx Scam Works?

Traderprofx is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the identical 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 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 create and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and paid ads (when possible), scam actors increase the exposure of their fraudulent activities to possible victims. And as I said, scammers do not disdain using deepfake for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who enrolls the service immediately.

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

Step 2: Gaining Traffic

After following the ads, users end up on a page filled with attractive offers. “Crypto starts with Traderprofx”, “Your crypto savings are secured with Traderprofx, “Start earning with Traderprofx – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that unlocking the promoted bonus requires registration. And since nothing suspicious happens at this point, uninformed users happily keep on – especially since 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 register using your personal data, swindrels 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 mentioned, scammers bait folks into signing up for bonuses. And all the personal information needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, fraudsters 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 it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any cryptocurrency operations require you to have money on your account. With Traderprofx, users are also compelled to top up to use the bonuses. And these top ups is what creates most of the money flow to this fraudulent site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the credited money and withdraw them.

This, however, is where the problems start to surface. When comparing the actual 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 capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that fraudsters have zero intentions to send you money. Though to make the fraud look more legitimate, they’ve developed a whole bunch of reasons to decline the transfer-out request. Most of them repeat what Know Your Client regulations say, but in this case they are here only to make the wireout impossible.

By asking for your personal information, 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 would desperately need to undergo before getting your funds back. And every check will reveal 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 Traderprofx.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Traderprofx 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 duration of the fraud, its masters may get in touch with you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we earlier figured out, these scoundrels have no plan of restoring your money. So, what do these email messages and browser plugins represent? Correct – that is another element of the scam designed to entice you into deliberately running harmful applications onto your computer.

Both extensions and attachments added to emails can serve as a carrier for diverse malicious code. In this case, I expect the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As noted, their morality is of negligible importance, and their reputation is already seriously marred. They have no principles to give up and intend to maximize profits.

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