The Tradingbotcrypto Scam – Don’t Become the Next Victim

Recently, Tradingbotcrypto.com site popped up, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable proof that clearly confirms it is, in fact, a deceptive site.

Regardless of the promises of the most user-friendly, trustworthy, and customer-centric service, Tradingbotcrypto.com does not offer any of them. In fact, all this is just a gilded wrap around a blatant scam, which takes your funds and never returns them. Any tales about bonuses, endorsement from celebrities etc are non-existent as well.

Tradingbotcrypto Scam Overview

Originally, Tradingbotcrypto poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another bright 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 real, frauds employ AI-generated videos with those celebs advertise the fraud as the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Tradingbotcrypto Scam

First and foremost, Tradingbotcrypto shares the design of multiple equivalent websites. There are quite a few examples, like Ethrewards, Buantumdex or Srugmw. They are entirely undistinguishable in terms of graphic elements, with small discrepancies in the site header. Other particulars, and sometimes even crypto wallet addresses, are identical. Probably, all these fraudulent websites are operated by a single gang of frauds.

Cryptocurrency Scam Summary

How the Tradingbotcrypto Scam Works?

Tradingbotcrypto is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use various website designs, which still share the identical 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 advanced psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate 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 marketing campaign begins. Using bots and sponsored advertisements (when possible), fraud actors boost the presence of their deceptive activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating clips with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users get a stimulus to sign up, drawn by the assurance of obtaining crypto rewards valued at hundreds of dollars, all free of charge. To enhance the attractiveness of the offer, false claims of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After following the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Tradingbotcrypto”, “Your crypto savings are secured with Tradingbotcrypto, “Start earning with Tradingbotcrypto – 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 as nothing questionable happens at this point, unexperienced users happily move on – especially as the reward appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you register using your personal info, frauds will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just said, frauds bait folks into signing up to get bonuses. And all the personal data needed for it – username, email, crypto wallet address – is valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the claimed bonus right away. To make it at least usable for crypto purchases, the user should top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto purchases require having funds on your account. In the case of Tradingbotcrypto, users are also coerced to top up to claim the bonuses. And this 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 trading on this website hoping to use all the credited capital and withdraw them.

This is where the problems start to surface. When comparing the actual crypto wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out 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 give your money back. Though to make the denial look more legitimate, they’ve crafted a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what Know Your Client regulations say, but in this case they are here exclusively to make the wireout impossible.

By requesting your personal info, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your funds back. And each of these checks will uncover more and more info of yours, which – you guessed it right – will be then sold 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 Tradingbotcrypto.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Tradingbotcrypto 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, scoundrels may contact you with particular files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we previously determined, these scoundrels have no plan of giving back your capital. So, what do these email messages and browser add-ons represent? You guessed – this is another element of the deceptive plan designed to entice you into willingly installing harmful applications onto your system.

Both plugins and attachments included to emails can act as a carrier for various malicious software. In this case, I anticipate the presence of spyware and stealers among other kinds of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As previously mentioned, their conscience is of little concern, and their reputation is already neck deep in mud. They have no scruples to give up and intend to maximize gains.

Frequently asked questions