We Investigated Trustxer: Legit or Scam? The Facts

Recently, Trustxer.com site popped up, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible proof that clearly confirms it is, in truth, a fraudulent service.

Regardless of the promises of the most easy, dependable, and client-friendly service, Trustxer.com does not follow any of them. In fact, all this is just a shiny wrap around a blatant scam, which steals your money and never gives them back. Any tales about bonuses, backing from celebrities etc are non-existent as well.

Trustxer Scam Overview

Originally, Trustxer poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another bright selling point for this service is backing from celebrities that are known as crypto activists. 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 more realistic, frauds employ AI-generated videos with those celebs promote the scam as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a vivid wrap around a transparent scam.

Trustxer Scam

Initially, Trustxer copies the appearance of numerous similar pages. There are quite a few examples, like Skiletex, Yotsbit or Xeflora. They are completely undistinguishable in terms of visual elements, with slight discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are the same. Presumably, all these scam sites are managed by the same team of frauds.

Cryptocurrency Scam Summary

How the Trustxer Scam Works?

Trustxer is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals 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 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 begin the deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Utilizing bots and sponsored advertisements (when feasible), fraud actors increase the exposure of their scam activities to possible victims. And as I said, scammers do not disdain using generative AI for creating clips with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

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

Step 2: Gaining Traffic

After clicking the promos, victims end up on a page filled with attractive offers. “Crypto starts with Trustxer”, “Your crypto savings are secured with Trustxer, “Start earning with Trustxer – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that getting the promoted bonus requires registration. And since nothing suspicious happens at this point, uninformed users happily proceed – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal information, crooks 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 mentioned, scammers bait folks into registration for bonuses. And all the personal information needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the claimed bonus is not available to use right away. To make it at least usable for crypto purchases, you need to top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Eventually, any crypto purchases require you to have funds on your account. In the case of Trustxer, users are also compelled to top up to get the bonuses. And this is what creates most of the cash flow to this fraudulent site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited capital and withdraw them.

This, however, is where the problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the funds 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 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. Most of them repeat what Know Your Client regulations say, but for the Trustxer.com they are here exclusively to make the wireout 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 a dozen other checks you should go through before getting your money back. And every check will share 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 Trustxer.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Trustxer 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%, Trustxer exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Trustxer as a scam.
• Dubious Corporate Information. Trustxer 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. Trustxer.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. Trustxer 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 Trustxer 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, scoundrels may get in touch with you with particular documents. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we previously determined, these scoundrels have no intent of restoring your capital. So, what can these email messages and browser add-ons represent? You guessed – that is another side of the fraudulent scheme designed to entice you into deliberately installing malicious software onto your system.

Both plugins and attachments added to emails can function as a shell for various malicious software. In this situation, I anticipate the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As previously mentioned, their ethics is of no concern, and their dignity is already severely tarnished. They have no scruples to give up and intend to maximize profits.

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