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

Recently, Vexunox.com service surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably confirms it is, actually, a scam platform.

Despite the promises of the most easy, reliable, and client-friendly service, Vexunox.com does not follow any of them. In fact, all this is just a gilded wrap around a blatant scam, which steals your money and never returns them. Any tales about gifts, sponsorship from celebrities etc are non-existent as well.

Vexunox Scam Overview

Originally, Vexunox poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another bright selling point for this platform is backing from celebrities that are known as crypto activists. 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 real, frauds use AI-generated videos with those celebs promote the fake crypto service as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Vexunox Scam

First and foremost, Vexunox shares the layout of many equivalent online platforms. There are quite a few examples, like Saotex, Nemorux or Vpzkw. They are entirely identical in terms of graphic elements, with minor discrepancies in the website header. Other particulars, and at times even crypto wallet addresses, are matching. Presumably, all these deceptive websites are managed by the same group of scammers.

Cryptocurrency Scam Summary

How the Vexunox Scam Works?

Vexunox is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the identical 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 initiate the scam, criminals set up and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Employing bots and sponsored promotions (when feasible), fraud actors increase the visibility of their fraudulent activities to potential victims. And as I said, scammers do not shy away using generative AI for creating videos with the mentioned celebs that promote 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 Vexunox in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

After following the ads, targets end up on a page filled with appealing offers. “Crypto starts with Vexunox”, “Your crypto savings are secured with Vexunox, “Start earning with Vexunox – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that retrieving the promised bonus requires registration. And since nothing concerning happens at this point, unexperienced users happily keep on – especially as the bonus appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal information, rascals 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, frauds bait folks into signing up for bonuses. And all the personal data needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Only 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 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 kicks in.

Step 4: Requesting funds

Eventually, any crypto purchases require having capital on your account. In the case of Vexunox, users are also compelled to top up to get the bonuses. And this is what creates the majority of the cash flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the transferred money and withdraw them.

This, however, is where the victim notices the issues. When keeping an eye on the real 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 money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have no intentions to send you money. Though to make it look more legitimate, they’ve crafted a whole pack of reasons to decline the wireout request. Most of them repeat what Know Your Client requirements say, but in this case they are here exclusively to make the wireout impossible.

By requesting your personal data, frauds 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 money back. And every check will share 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 Vexunox.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Vexunox employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Vexunox exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Vexunox as a scam.
• Dubious Corporate Information. Vexunox arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Vexunox.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Vexunox utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Vexunox 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 scam, its actors may reach out to you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we already figured out, these rascals have no intent of returning your money. So, what do these messages and browser extensions represent? You guessed – this is another component of the scam designed to throw you into deliberately installing destructive programs onto your system.

Both add-ons and files added to email messages can act as a carrier for various malware. In this situation, I anticipate the presence of spyware and stealers among other forms of malware. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As previously mentioned, their ethics is of no concern, and their dignity is already severely tarnished. They have no scruples to lose and intend to boost gains.

Frequently asked questions