The Truth About Unetex: Legit or Scam? Our Review

Recently, Unetex.com site surfaced, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather reliable supporting information that clearly reveals it is, in truth, a deceptive site.

Regardless of the promises of the most convenient, dependable, and customer-centric service, Unetex.com does not fulfill any of them. In fact, all this is just a shiny wrap around a clear scam, which takes your money and never gives them back. Any tales about gifts, backing from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Unetex Scam Overview

Originally, Unetex poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another notable marketing point for this service is partnerships with celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look more realistic, rascals use deepfake videos where those celebrities promote the fake crypto service as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a vivid wrap around an obvious scam.

Unetex Scam

First and foremost, Unetex copies the design of multiple equivalent online platforms. There are quite a few examples, like Megatexes, Cronoswap or Coinlex. They are completely indistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are unchanged. Probably, all these fraudulent websites are operated by a single team of scammers.

Cryptocurrency Scam Summary

How the Unetex Scam Works?

Unetex 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 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals establish and fill accounts on well-liked social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and sponsored ads (when feasible), scam actors boost the exposure of their scam activities to potential victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

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

Users get an incentive to enroll, attracted by the assurance of getting crypto prizes valued at hundreds of dollars, all for free. To increase the appeal of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Upon following the promotions, targets end up on a page filled with enticing offers. “Crypto starts with Unetex”, “Your crypto savings are secured with Unetex, “Start earning with Unetex – they look rather authoritative. To heat up users and make them proceed to step 3, crooks say that claiming the promised bonus requires registration. And since nothing concerning happens at this point, unexperienced users happily proceed – especially since the bonus appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal data, crooks will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks into registration to get bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Only by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the promised 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 you to have capital on your account. In the case of Unetex, users are also forced to top up to claim the bonuses. And this 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 participating on this site hoping to use all the transferred capital and withdraw them.

This is where the victim notices the issues. When keeping an eye on the actual crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that fraudsters are naught on intentions to give your money back. But to make it look more legitimate, they’ve developed a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what KYC regulations say, but for the Unetex.com they are here only to make the withdrawal impossible.

By requesting your personal data, scammers just stall hoping for you to understand that you’ve been scammed 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 share more and more info of yours, which – you guessed it right – will be then marketed 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 Unetex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Unetex 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 timeline of the fraud, fraudsters may contact you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously figured out, these scammers have no intent of returning your funds. So, what can these messages and browser add-ons represent? You guessed – this is another component of the scam designed to throw you into willingly running malicious programs onto your system.

Both add-ons and files included to emails can serve as a carrier for different malicious software. In this case, I expect the presence of spyware and stealers among all kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As stated, their ethics is of no concern, and their reputation is already neck deep in mud. They have no scruples to give up and aim to boost gains.

Remove spyware with Gridinsoft Anti-Malware

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