We Investigated Wxmcoin: Legit or Scam? The Facts

Recently, Wxmcoin.com website appeared, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible evidence that clearly reveals it is, actually, a scam platform.

Despite what Wxmcoin site states, they won’t ever pay off your money. Even though the numbers displayed in the “member area”, there is no way to retrieve even a single coin. All promises regarding crypto bonuses are hollow as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

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Wxmcoin Scam Overview

The main service that Wxmcoin strives to provide is a protected and convenient cryptocurrency wallet service. The site pledges crypto exchange services, tools for handling wallets, transfers, dashboards, and the like. In truth, they endeavor to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in fact only serves as a shell intended to lull the vigilance.

Wxmcoin Scam

First and foremost, Wxmcoin mimics the appearance of numerous equivalent online platforms. There are quite a few examples, like Muskxtech, Crestprism or Zondrex. They are completely identical in terms of graphic elements, with slight discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are matching. Most likely, all these scam online platforms are led by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Wxmcoin Scam Works?

Wxmcoin is yet another online platform within a wide-ranging network of linked crypto fraudulent sites. The managers employ various brand titles and websites, like Wxmcoin.com, to trap victims. Nevertheless, these deceptive websites have in common the same designs, terms of service, and About information. This reveals their origins as a part of the same fraudulent network, which advocates the identical form of deception under diverse disguises. The fraudsters just replicate the equal fraudulent website under diverse names to mislead users into believing they are enrolling a new platform. However, in reality, it’s the identical system of swindlers orchestrating the fraudulent promises and undertakings to seize deposited money. The managers skillfully employ psychological tactics and appealing offers to execute their dishonest schemes.

Step 1: Spreading

To begin the scam, criminals establish and fill accounts on popular social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Using bots and sponsored ads (when possible), fraud actors boost the visibility of their fraudulent activities to potential victims. This strategy enables them to create an extensive net and connect with their targeted spectators. The latter commonly comprises of cryptocurrency enthusiastic individuals looking for opportunities to generate profits.

Users get a stimulus to enroll, attracted by the commitment of obtaining crypto prizes valued at thousands of dollars, all without cost. To enhance the attractiveness of the offer, fake claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

People who demonstrate interest check out Wxmcoin.com via links included in promotions or bot-generated posts. The website uses captivating visuals, design aspects that appear authentic, and claims of holding a legitimate license, all intended to present an initial image of reliability.

Step 3: Data Gathering

To collect their rewards, users must proactively sign up on Wxmcoin and receive guidance to provide sensitive and personal data throughout the registration procedure. This comprises linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, submitting identification papers, and the like.

Step 4: Requesting funds

Once signed up, users observe considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Wxmcoin wallets. Nonetheless, as is common with such rewards, you cannot withdraw them before making a deposit. Usually, a payment of $100 is required to get the sign-up bonus. This stipulation serves as the snare that ultimately leads to the money loss.

Step 5: Disappear

The instant the payment is sent, the fraudsters cease all communication. They go ahead to block users, delete accounts, and abscond with both the submitted funds and essential private information. The fictitious prizes remain perpetually uncredited, as they lack actual existence. They operate solely as a fraudulent maneuver. This technique forms the foundation for the scammers’ capability to mislead victims and embezzle hard-earned money through their double-dealing online crypto fraud.

Signs of Scam

I gathered several facts that point at the scammy nature of the Wxmcoin.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Wxmcoin.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. Wxmcoin 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. Wxmcoin 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. Wxmcoin 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%, Wxmcoin capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Wxmcoin.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Wxmcoin 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 fraud, scoundrels may contact you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we earlier determined, these scoundrels have no intention of giving back your funds. So, what can these messages and browser plugins represent? You guessed it right – that is another component of the scam designed to entice you into deliberately running malicious software onto your system.

Both extensions and attachments attached to email messages can serve as a shell for diverse malicious code. In this situation, I expect the presence of spyware and stealers among all forms of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As noted, their morality is of negligible importance, and their dignity is already deeply compromised. They have nothing to give up and aim to boost gains.

Remove spyware with Gridinsoft Anti-Malware

We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.

To use Gridinsoft for remove malicious threats, follow the steps below:

1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.

2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.

3.Follow the installation setup wizard's instructions diligently.

4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.

Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.

5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.

6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.

8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.

Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Wxmcoin

Name: Wxmcoin

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Wxmcoin, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Wxmcoin scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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