Usdtxtz Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Usdtxtz.com service popped up, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that unmistakably indicates it is, actually, a deceptive service.

Regardless of the promises of the most easy, trustworthy, and customer-centric service, Usdtxtz.com does not offer any of them. In fact, all this is just a shiny wrap around a clear scam, which steals your money and data and never gives them back. Any tales about gifts, endorsement from celebrities etc are absent as well.

Usdtxtz Scam Overview

Originally, Usdtxtz poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another bright selling point for this platform is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, rascals employ AI-generated videos with those celebs promote the scam as if it was 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 a transparent scam.

Usdtxtz Scam

Initially, Usdtxtz repeats the design of multiple similar pages. There are quite a few examples, like Kofdex, Novabitex or Revolby. They are completely identical in terms of visual elements, with minor discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are unchanged. Probably, all these scam online platforms are managed by the same team of scammers.

Cryptocurrency Scam Summary

How the Usdtxtz Scam Works?

Usdtxtz is a part of a significant cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use several website designs, which still share the same 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 begin the scam, criminals establish and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Using bots and sponsored promotions (when possible), fraud actors intensify the presence of their deceptive activities to possible victims. And as I said, crooks do not disdain using generative AI for creating clips with the mentioned celebs that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

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

Step 2: Gaining Traffic

After following the promotions, targets end up on a page filled with appealing offers. “Crypto starts with Usdtxtz”, “Your crypto savings are secured with Usdtxtz, “Start earning with Usdtxtz – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that obtaining the pledged bonus requires registration. And as nothing concerning happens at this point, unaware users happily move on – especially as the bonus 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, swindrels will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just said, scammers bait folks for registration with bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Exclusively 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, you cannot use the claimed bonus right away. To make it at least usable for cryptocurrency purchases, the user should 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 crypto operations require having funds on your account. With Usdtxtz, users are also coerced to top up to claim the bonuses. And this is what creates the majority of the cash flow to this fraudulent site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the deposited funds and withdraw them.

This, however, is where the victim notices the problems. When comparing the actual crypto wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the money 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 zero intentions to send you money. Though to make it look more realistic, they’ve elaborated a whole pack of reasons to decline the wireout request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal info, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you should go through 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 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 Usdtxtz.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Usdtxtz 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 course of the fraud, rascals may contact you with specific files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we already determined, these rascals have no intent of returning your funds. So, what can these email messages and browser extensions represent? You guessed – that is another element of the scam designed to throw you into deliberately installing malicious software onto your computer.

Both extensions and attachments attached to emails can serve as a carrier for different malware. 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 probability is always above zero. As previously mentioned, their ethics is of little concern, and their reputation is already severely tarnished. They have no principles to give up and aim to boost gains.

Frequently asked questions