Investigating WoxBiom: Legit or Scam? The Truth Exposed

Recently, Woxbiom.com website surfaced, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible evidence that unmistakably confirms it is, in fact, a deceptive site.

Despite the promises of the most convenient, reliable, and customer-centric service, Woxbiom.com does not fulfill any of them. All this is just a golden wrap around a blatant scam, which takes your funds and never gives them back. Any tales about gifts, endorsement from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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WoxBiom Scam Overview

Originally, WoxBiom poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another notable selling point for this site is backing from celebrities that are known as crypto activists. 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 with those celebs advertise the scam as 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 glaring wrap around a transparent scam.

WoxBiom Scam

First and foremost, WoxBiom copies the appearance of many equivalent websites. There are quite a few examples, like Wexbits, Vetradex or Uniker. They are completely undistinguishable in terms of graphic elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are the same. Probably, all these fraudulent sites are managed by a single gang of scoundrels.

Cryptocurrency Scam Summary

How the WoxBiom Scam Works?

WoxBiom is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Utilizing bots and sponsored advertisements (when feasible), scam actors increase the exposure of their fraudulent activities to possible victims. And as I said, crooks 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 enrolls the service immediately.

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

Users obtain an encouragement to enroll, enticed by the assurance of obtaining cryptocurrency prizes valued at thousands of dollars, all without cost. To augment the attractiveness of the offer, fake claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

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

At this point, it is possible to skip the scam without any losses. Before you register 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 mentioned, frauds bait folks into registration to get bonuses. And all the personal information needed for it – username, email, crypto wallet address – are valuable for user identification. Only by gathering this data and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the alleged bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

It is obvious that any cryptocurrency operations require having funds on your account. In the case of WoxBiom, 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 site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the transferred capital and withdraw them.

This, however, is where the first obvious problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve the funds 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 return your money. Though to make the denial look more legitimate, they’ve elaborated a whole bunch of reasons to decline the transfer-out request. Most of them repeat what Know Your Client requirements say, but in this case they are here only to make the wireout impossible.

By requesting your personal data, scammers 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 money back. And each of these checks will share more and more information, which – you guessed it right – will be then marketed 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 Woxbiom.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. WoxBiom 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%, WoxBiom exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying WoxBiom as a scam.
• Dubious Corporate Information. WoxBiom 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. Woxbiom.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. WoxBiom 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 WoxBiom 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 reach out to you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we earlier determined, these scoundrels have no intention of giving back your money. So, what do these emails and browser plugins represent? You guessed it right – that is another component of the fraudulent scheme designed to entice you into willingly running destructive programs onto your computer.

Both extensions and files included to email messages can function as a shell for different malware. In this situation, I anticipate the presence of spyware and stealers among all kinds of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As stated, their conscience is of little concern, and their dignity is already seriously marred. They have nothing to lose and aim to boost gains.

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