We Looked at the Evidence: Is Vexulex Legit or Scam?

Recently, Vexulex.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably reveals it is, actually, a deceptive service.

Despite the promises of the most user-friendly, reliable, and client-friendly service, Vexulex.com does not follow any of them. All this is just a golden wrap around a blatant scam, which takes your money and data and never gives them back. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

Vexulex Scam Overview

Originally, Vexulex poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another notable marketing 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 more realistic, rascals use AI-generated videos where those celebrities promote the scam as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around an obvious scam.

Vexulex Scam

Initially, Vexulex copies the layout of multiple similar websites. There are quite a few examples, like Xoweu, Untradex or Kergex. They are entirely undistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these scam websites are managed by a single group of fraudsters.

Cryptocurrency Scam Summary

How the Vexulex Scam Works?

Vexulex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the similar overall layout. Another common 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 start the fraud, criminals establish and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and paid promotions (when achievable), fraud actors increase the visibility of their scam activities to potential victims. And as I said, crooks do not shy away using deepfake for creating clips with the mentioned celebrities that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.

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

Users receive an encouragement to sign up, attracted by the promise of getting cryptocurrency benefits valued at hundreds of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After clicking the promotions, users end up on a page filled with appealing offers. “Crypto starts with Vexulex”, “Your crypto savings are secured with Vexulex, “Start earning with Vexulex – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that retrieving the pledged bonus requires registration. And since nothing questionable happens at this point, unexperienced users happily proceed – 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 information, 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 said, frauds bait folks for registration with bonuses. And all the personal info needed for it – username, email, crypto wallet address – is valuable for user identification. Exclusively 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, the claimed bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, 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

Eventually, any cryptocurrency operations require you to have funds on your account. With Vexulex, users are also compelled to top up to get the bonuses. And this is what creates the majority of the money flow to this scam site. 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 transferred capital and withdraw them.

This, however, is where the victim notices the problems. When keeping an eye on 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 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 swindlers are naught on intentions to send you money. Though to make the denial look more realistic, they’ve elaborated a whole pack of reasons to decline the wireout request. Usually, they repeat what Know Your Client regulations say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal data, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your money back. And every check will reveal more and more information, 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 Vexulex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Vexulex.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Vexulex arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Vexulex resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Vexulex employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Vexulex capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Vexulex.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Vexulex 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 scam, scoundrels may contact you with specific files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we already determined, these deceivers have no intention of restoring your funds. So, what do these email messages and browser add-ons represent? Correct – this is another element of the scam designed to entice you into willingly installing harmful software onto your computer.

Both extensions and files added to emails can function as a carrier for various malware. In this scenario, I anticipate the presence of spyware and stealers among other types of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As stated, their morality is of little concern, and their dignity is already severely tarnished. They have no principles to give up and aim to boost profits.

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