We Looked at the Evidence: Is X-tidexclub Legit or Scam?

Recently, X-tidexclub.com website popped up, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible evidence that unmistakably indicates it is, actually, a deceptive platform.

Regardless of the promises of the most convenient, dependable, and customer-centric service, X-tidexclub.com does not follow any of them. All this is just a shiny wrap around a dirty scam, which takes your funds and never gives them back. Any stories about gifts, sponsorship from celebrities etc are non-existent as well.

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X-tidexclub Scam Overview

Originally, X-tidexclub poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another bright marketing point for this service is partnerships with celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, frauds use deepfake videos where those celebrities promote the fake crypto service as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a glaring wrap around an obvious scam.

X-tidexclub Scam

To begin with, X-tidexclub copies the appearance of multiple similar websites. There are quite a few examples, like Lifesps, Capitalwise or Tradehotdeals. They are entirely undistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are identical. Presumably, all these deceptive online platforms are operated by the same team of swindrels.

Cryptocurrency Scam Summary

How the X-tidexclub Scam Works?

X-tidexclub is a part of a significant cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use various 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To start 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), scam actors intensify the exposure of their scam activities to potential victims. And as I said, crooks do not shy away using deepfake for creating videos with the aforementioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.

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

Users receive an incentive to sign up, enticed by the assurance of obtaining cryptocurrency rewards valued at thousands of dollars, all free of charge. To augment the appeal 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

Upon following the promotions, users end up on a page filled with appealing offers. “Crypto starts with X-tidexclub”, “Your crypto savings are secured with X-tidexclub, “Start earning with X-tidexclub – they look rather authoritative. To heat up users and make them proceed to step 3, fraudsters say that obtaining the promoted bonus requires registration. And since nothing concerning happens at this point, uninformed users happily keep on – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you register using your personal data, rascals will not 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 mentioned, frauds bait folks into signing up for bonuses. And all the personal data needed for it – username, email, crypto wallet address – is valuable for user identification. Exclusively by gathering this information 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 claimed bonus right away. To make it at least usable for cryptocurrency purchases, 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 cryptocurrency operations require you to have funds on your account. In the case of X-tidexclub, users are also coerced to top up to claim the bonuses. And this is what creates the majority of the cash flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start participating on this website hoping to use all the credited funds and withdraw them.

This, however, is where the first obvious issues start to surface. When keeping an eye on the actual crypto wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have 0 intentions to return your money. Though to make the fraud look more realistic, they’ve elaborated a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By asking for your personal information, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo 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 X-tidexclub.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. X-tidexclub often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. X-tidexclub.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. X-tidexclub raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. X-tidexclub.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, X-tidexclub preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling X-tidexclub as a scam.

What Should I do as a Victim?

If you had to deal with X-tidexclub 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 course of the scam, its masters may contact you with particular documents. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we already figured out, these scoundrels have no intent of restoring your money. So, what do these email messages and browser plugins represent? Correct – that is another side of the deceptive plan designed to throw you into deliberately running malicious software onto your device.

Both add-ons and files included to emails can serve as a shell for diverse malware. In this scenario, I expect the presence of spyware and stealers among other types of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always above zero. As noted, their ethics is of little concern, and their dignity is already neck deep in mud. They have no scruples to give up and aim to boost gains.

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Frequently asked questions

The truth about X-tidexclub

Name: X-tidexclub

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves X-tidexclub, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the X-tidexclub 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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