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

Recently, Websterbit.com service popped up, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable supporting information that unmistakably confirms it is, actually, a scam site.

Regardless of the promises of the most user-friendly, dependable, and client-friendly service, Websterbit.com does not offer any of them. In fact, all this is just a shiny wrap around a blatant scam, which steals your funds and never returns them. Any tales about gifts, sponsorship from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Websterbit Scam Overview

Originally, Websterbit poses as a crypto trading & cryptowallet platform with remarkably low commission fees. Another notable selling point for this platform 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 real, rascals employ AI-generated videos where those celebrities promote the fraud as the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Websterbit Scam

Initially, Websterbit copies the appearance of many equivalent pages. There are quite a few examples, like Unibwex, Texnum or Sweetex. They are completely indistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are identical. Probably, all these deceptive websites are led by the same team of fraudsters.

Cryptocurrency Scam Summary

How the Websterbit Scam Works?

Websterbit is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use numerous website designs, which still share the identical 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals establish and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and paid advertisements (when achievable), scam actors increase the presence of their fraudulent activities to potential victims. And as I said, crooks do not shy away using generative AI for creating videos with the aforementioned 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 Websterbit in TikTok. Most of these videos are AI-generated deepfakes

Users receive an encouragement to enroll, attracted by the promise of getting crypto prizes valued at hundreds of dollars, all free of charge. To increase the appeal of the offer, fake claims of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After following the promos, victims end up on a page filled with attractive offers. “Crypto starts with Websterbit”, “Your crypto savings are secured with Websterbit, “Start earning with Websterbit – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that unlocking the pledged bonus requires registration. And as nothing suspicious happens at this point, uninformed 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, frauds will not be able to 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 mentioned, frauds bait folks for registration with bonuses. And all the personal info 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. 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 crypto purchases, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

It is obvious that any crypto purchases require having money on your account. In the case of Websterbit, users are also compelled to top up to use the bonuses. And these top ups is what creates the majority of the money flow to this scam 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 credited funds and withdraw them.

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

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have zero intentions to return your money. Though to make it look more legitimate, they’ve made up a whole bunch of reasons to decline the transfer-out request. Most of them repeat what KYC guidelines say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal info, deceivers 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 should go through before getting your funds back. And every check will reveal 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 Websterbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Websterbit 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 duration of the scam, its actors may contact you with specific documents. Alternatively, they may propose you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we already determined, these deceivers have no plan of restoring your money. So, what do these emails and browser add-ons represent? Correct – this is another component of the deceptive plan designed to entice you into deliberately running destructive applications onto your device.

Both add-ons and files added to emails can serve as a shell for diverse malicious code. In this scenario, I foresee the presence of spyware and stealers among all forms of threats. While it is not obligatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their morality is of little concern, and their dignity is already deeply compromised. They have no scruples to lose and intend to maximize revenues.

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