Tyknex Review: Legit or Scam? Read This First

Recently, Tyknex.com site popped up, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather reliable evidence that clearly confirms it is, actually, a deceptive site.

Despite the promises of the most easy, reliable, and customer-centric service, Tyknex.com does not offer any of them. In fact, all this is just a golden wrap around a dirty scam, which takes your money and never gives them back. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

Tyknex Scam Overview

Originally, Tyknex poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another bright selling point for this site is backing from 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, rascals employ deepfake videos where those celebrities advertise the fake crypto service as if it was the best thing in the world. For known 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.

Tyknex Scam

Initially, Tyknex repeats the layout of multiple equivalent websites. There are quite a few examples, like Mitelex, Foznex or Aurora. They are completely identical in terms of graphic elements, with slight discrepancies in the website header. Other details, and at times even crypto wallet addresses, are identical. Presumably, all these scam online platforms are managed by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Tyknex Scam Works?

Tyknex is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers 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 advanced psychological tricks that make the user believe in the legitimacy 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 mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and paid advertisements (when possible), fraud actors boost the visibility of their deceptive activities to potential victims. And as I said, crooks do not disdain using deepfake for creating clips with the mentioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users obtain an incentive to register, attracted by the assurance of receiving cryptocurrency benefits valued at thousands of dollars, all without cost. To increase the attractiveness of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the ads, users end up on a page filled with attractive offers. “Crypto starts with Tyknex”, “Your crypto savings are secured with Tyknex, “Start earning with Tyknex – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that getting the promoted bonus requires registration. And as nothing suspicious happens at this point, unaware users happily keep on – especially since 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 information, frauds 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 signing up to get bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this info and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, 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. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require having capital on your account. In the case of Tyknex, users are also coerced to top up to use the bonuses. And these top ups is what creates the majority of the money flow to this scam site. 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 deposited capital and withdraw them.

This, however, is where the issues start to surface. When keeping an eye on the real crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to withdraw the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers are naught on intentions to return your money. Though to make the denial look more realistic, they’ve elaborated a whole pack of reasons to decline the wireout request. Most of them repeat what KYC guidelines say, but for the Tyknex.com they are here exclusively to make the wireout impossible.

By asking for your personal info, frauds 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 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 Tyknex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Tyknex does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Tyknex like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Tyknex, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Tyknex is a definite scam.

What Should I do as a Victim?

If you had to deal with Tyknex 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 course of the fraud, rascals may reach out to you with specific documents. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto assets. As we already determined, these rascals have no intent of giving back your capital. So, what can these emails and browser extensions represent? You guessed – this is another side of the fraudulent scheme designed to throw you into willingly running destructive software onto your system.

Both extensions and files attached to email messages can serve as a shell for various malicious code. In this situation, I foresee the presence of spyware and stealers among all kinds of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As stated, their conscience is of negligible importance, and their dignity is already severely tarnished. They have nothing to lose and intend to maximize revenues.

Frequently asked questions