Is Usdtxaz Legit or Another Scam? The Truth Revealed

Written by Daniel Zimmerman

Recently, Usdtxaz.com site appeared, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible supporting information that unmistakably reveals it is, in truth, a fraudulent site.

Regardless of the promises of the most convenient, reliable, and customer-centric service, Usdtxaz.com does not offer any of them. All this is just a gilded wrap around a clear scam, which steals your money and never returns them. Any tales about gifts, backing from celebrities etc are non-existent as well.

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Usdtxaz Scam Overview

Originally, Usdtxaz poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another notable selling point for this service is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, frauds use AI-generated videos with those celebs advertise the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a blatant wrap around an obvious scam.

Usdtxaz.com Scam

Usdtxaz Scam

Initially, Usdtxaz copies the layout of many equivalent pages. There are quite a few examples, like Usdtxkz, Usdtxnz or Usdtxsz. They are entirely undistinguishable in terms of graphic elements, with slight discrepancies in the site header. Other particulars, and sometimes even crypto wallet addresses, are matching. Most likely, all these scam sites are led by the same group of scammers.

Cryptocurrency Scam Summary

Website Usdtxaz.com
Hosting AS137951 ASLINE LIMITED
Hong Kong, Hong Kong
IP Address 168.76.20.42
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Usdtxaz Scam Works?

Usdtxaz is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the same 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 sophisticated 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 initiate the scam, criminals set up and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Utilizing bots and sponsored advertisements (when achievable), scam actors boost the visibility of their fraudulent activities to potential victims. And as I said, fraudsters do not disdain using generative AI for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

Cryptoscam ads TIkTok

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

Users obtain an encouragement to enroll, attracted by the promise of getting crypto rewards valued at thousands of dollars, all for free. To increase the appeal of the offer, false claims of sponsorship by a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the ads, targets end up on a page filled with attractive offers. “Crypto starts with Usdtxaz”, “Your crypto savings are secured with Usdtxaz, “Start earning with Usdtxaz – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that obtaining the pledged bonus requires registration. And as nothing concerning happens at this point, uninformed users happily move on – especially since the reward appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal info, crooks will not be able to 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, deceivers bait folks for registration with bonuses. And all the personal info needed for it – username, email, crypto 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. 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, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require having capital on your account. With Usdtxaz, users are also compelled to top up to get the bonuses. And this is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the deposited capital and withdraw them.

This is where the first obvious issues start to surface. When keeping an eye on the real 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 capital 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 have 0 intentions to give your money back. Though to make the denial look more legitimate, they’ve made up a whole bunch of reasons to decline the wireout request. Most of them repeat what Know Your Client guidelines say, but for the Usdtxaz.com they are here only to make the withdrawal impossible.

By requesting your personal information, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your grand back. And each of these checks will share more and more info of yours, 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 Usdtxaz.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

  • Absent company details. Usdtxaz 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 Usdtxaz 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 Usdtxaz, 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 Usdtxaz is a definite scam.

What Should I do as a Victim?

If you had to deal with Usdtxaz 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 course of the scam, scoundrels may get in touch with you with specific files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we earlier figured out, these rascals have no intent of returning your capital. So, what do these messages and browser add-ons represent? Correct – this is another element of the deceptive plan designed to throw you into willingly installing destructive programs onto your computer.

Both add-ons and files included to email messages can serve as a shell for different malicious code. In this case, I expect the presence of spyware and stealers among all kinds of malware. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As previously mentioned, their morality is of no concern, and their dignity is already deeply compromised. They have no principles to give up and strive to maximize revenues.

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The spyware was Found

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Frequently asked questions

Is there any real info on Usdtxaz site?

The vast majority of information posted on the Usdtxaz 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.

Are the Usdtxaz site promices real?

No, there is no legitimate information on the Usdtxaz 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.

Is there any way to recover my lost funds from Usdtxaz scam?

Unfortunately, recovering funds lost to a scam like Usdtxaz 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.

How to spot crypto trading scams in the future?

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:

  1. Scrutinize Celebrity Endorsements. Be cautious of endorsements from celebrities or public figures. Scammers often fabricate endorsements to gain credibility.
  2. Resist Urgency. Watch out for tactics that create a sense of urgency to pressure quick decisions. Legitimate investments offer time for research and consideration.
  3. Consult Reviews and Feedback. Look for independent reviews and feedback from fellow traders. Scammers may create fake positive reviews, but negative reviews can provide valuable insights.
  4. Question Unrealistic Promises. Be skeptical of offers promising unrealistically high returns or guaranteed profits. If an investment opportunity seems too good to be true, it likely is.
  5. Verify Regulation and Licensing. Check if the platform or service is regulated and licensed by relevant authorities. Scammers often operate without proper authorization.

What should I do as a victim of a Usdtxaz.com scam?

If you have become a victim of a Usdtxaz 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:

  • Cease Communication. If you realize that you’ve been scammed, stop all communication with the scammers. Do not respond to their emails, messages, or calls.
  • Document Everything. Gather and preserve all relevant information, including emails, screenshots, transaction records, and any communication you had with the scammers. This documentation will be crucial for reporting the scam and seeking assistance.
  • Report to Authorities. File a report with your local law enforcement agency and any relevant regulatory authorities in your country. Provide them with all the evidence you have gathered. This helps initiate investigations and raises awareness about the scam.
  • Contact Financial Institutions. If you made any payments or deposits using your credit card or bank account, contact your financial institution immediately. They may be able to help you with disputing transactions or initiating a chargeback.
  • 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.
  • Notify Cryptocurrency Exchanges. If you used a cryptocurrency exchange to make transactions related to the scam, notify the exchange about the fraudulent activity. They may be able to assist you in some cases.
  • Monitor Your Accounts. Keep a close eye on your financial and online accounts for any suspicious activity. Change passwords and enable two-factor authentication wherever possible.
The truth about Usdtxaz

Name: Usdtxaz

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Usdtxaz, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Usdtxaz scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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