We Investigated Trustexer: Legit or Scam? The Facts

Recently, Trustexer.com site surfaced, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible evidence that clearly reveals it is, actually, a deceptive platform.

Despite the promises of the most easy, dependable, and client-friendly service, Trustexer.com does not follow any of them. In fact, all this is just a shiny wrap around a dirty scam, which takes your money and never returns them. Any stories about gifts, endorsement from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

DOWNLOAD NOW

Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon

Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Trustexer Scam Overview

Originally, Trustexer poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another highlighted marketing point for this platform is partnerships with celebrities that are known in the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, frauds employ deepfake videos with those celebs promote the scam as the best thing in the world. For obvious reasons, 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.

Trustexer Scam

To begin with, Trustexer shares the layout of numerous similar online platforms. There are quite a few examples, like Gctzy, Noretex or Qnamo. They are totally indistinguishable in terms of visual elements, with small discrepancies in the website header. Other particulars, and sometimes even crypto wallet addresses, are matching. Probably, all these deceptive sites are managed by a single group of frauds.

Cryptocurrency Scam Summary

How the Trustexer Scam Works?

Trustexer is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the similar 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 complex 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 start the deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and sponsored advertisements (when achievable), fraud actors increase the presence of their fraudulent activities to possible victims. And as I said, fraudsters do not disdain using generative AI for creating clips with the mentioned celebs that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

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

Users receive an encouragement to sign up, enticed by the commitment of receiving crypto rewards valued at hundreds of dollars, all without cost. To increase the appeal of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After following the ads, users end up on a page filled with enticing offers. “Crypto starts with Trustexer”, “Your crypto savings are secured with Trustexer, “Start earning with Trustexer – they look rather authoritative. To heat up users and make them proceed to step 3, fraudsters say that unlocking the promised bonus requires registration. And since nothing questionable happens at this point, uninformed users happily keep on – especially as the reward appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you sign up using your personal info, rascals 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 said, deceivers bait folks into registration to get bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Solely by gathering this info 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 it at least usable for cryptocurrency purchases, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any crypto purchases require having funds on your account. With Trustexer, users are also forced to top up to get the bonuses. And these top ups is what creates the majority of the money flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the transferred capital and withdraw them.

This, however, is where the issues 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 funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have no intentions to return your money. But to make it look more realistic, they’ve made up a whole bunch of reasons to decline the withdrawal request. Most of them repeat what Know Your Client regulations say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for your personal info, scammers 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 money back. And every check will uncover more and more information, 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 Trustexer.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Trustexer 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%, Trustexer exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Trustexer as a scam.
• Dubious Corporate Information. Trustexer 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. Trustexer.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. Trustexer 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 Trustexer 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 duration of the fraud, its actors may get in touch with you with specific files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we already figured out, these scoundrels have no intention of restoring your capital. So, what do these emails and browser extensions represent? Correct – that is another component of the deceptive plan designed to entice you into willingly installing harmful programs onto your system.

Both plugins and files added to emails can function as a carrier for different malicious code. In this case, I anticipate the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their ethics is of little concern, and their dignity is already severely tarnished. They have no principles to lose and strive to maximize gains.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Frequently asked questions