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.
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.
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
Website | Trustexer.com |
Hosting | AS13335 Cloudflare, Inc. United States, San Francisco |
IP Address | 188.114.97.3 |
Threat Type | Scam/Fraud |
Scam Type | Fraudulent offers of cryptocurrency services |
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.
![Cryptoscam ads TIkTok](https://howtofix.guide/wp-content/uploads/2023/11/tt-cryptoscam-ads.webp)
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.
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![Gridinsoft Anti-Malware - Main Screen](/wp-content/uploads/2023/07/gsam-main.webp)
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![setup-gridinsoft-fix.exe](/wp-content/uploads/2023/07/setup-gridinsoft-fix-file.png)
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![Gridinsoft Setup Wizard](/wp-content/uploads/2023/07/gridinsoft-setup-wizard.webp)
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![Scan for spyware malicious programs](/wp-content/uploads/2023/07/gsam-scan-1.webp)
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![The spyware was Found](/wp-content/uploads/2023/07/gsam-scan-finished.webp)
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![The spyware has been removed](/wp-content/uploads/2023/07/gsam-removal.webp)
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Frequently asked questions
The vast majority of information posted on the Trustexer site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.
No, there is no legitimate information on the Trustexer site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.
Unfortunately, recovering funds lost to a scam like Trustexer can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.
Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:
- Too Good to Be True Promises. Be cautious of offers that promise unrealistically high returns or guaranteed profits. If an investment opportunity sounds too good to be true, it likely is.
- Pressure to Act Quickly. Scammers often use tactics like creating a sense of urgency to pressure you into making quick decisions. Legitimate investments allow you time to research and consider your options.
- Lack of Regulation or Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.
- Social Proof and Celebrity Endorsements: Be skeptical of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
- Check for Reviews and Feedback: Look for independent reviews and feedback from other traders. Scammers may fabricate positive reviews, but negative reviews can provide valuable insights.
If you have become a victim of a Trustexer or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:
- Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
- Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
- Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
- Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
- Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
- Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
- Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.