Is Xaebit Legit or Another Scam? The Truth Revealed

Recently, Xaebit.com service popped up, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible evidence that clearly reveals it is, in truth, a fraudulent platform.

Despite what Xaebit site says, they will never return your funds. Despite the money displayed in the “member area”, there is no means to take out even a single cent. All pledges regarding crypto rewards are empty 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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Xaebit Scam Overview

The main offering that Xaebit aims to provide is a safe and convenient cryptocurrency wallet service. The website promises crypto exchange services, tools for handling wallets, transfers, dashboards, and alike functions. In truth, they aim to emulate the functionality of a crypto marketplace, like Binance or Coinbase. However, it in fact only serves as a shell intended to deceive the cautious.

Xaebit Scam

First and foremost, Xaebit mimics the appearance of numerous similar pages. There are quite a few examples, like Wuyzex, Westemex or Wegnox. They are completely indistinguishable in terms of graphic elements, with slight discrepancies in the website header. Other specific elements, and sometimes even crypto wallet addresses, are the same. Most likely, all these fraudulent online platforms are operated by the same team of swindrels.

Cryptocurrency Scam Summary

How the Xaebit Scam Works?

Xaebit is yet another website within a extensive network of associated crypto deceptive sites. The managers employ various brand names and websites, like Xaebit.com, to trap victims. Nonetheless, these fraudulent websites share matching designs, terms of service, and About Us content. This unveils their beginnings as components of the same fraudulent network, which advocates the similar type of deception under diverse disguises. The fraudsters simply copy the identical scam website under different names to mislead users into thinking they are joining a fresh opportunity. However, in reality, it’s the same system of swindlers orchestrating the fraudulent pledges and efforts to seize deposited funds. The managers shrewdly utilize psychological maneuvers and captivating propositions to carry out their unscrupulous plans.

Step 1: Spreading

To begin the scam, criminals establish and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and paid advertisements (when possible), scam actors intensify the presence of their scam activities to potential victims. This strategy enables them to cast a wide net and connect with their focused audience. The latter typically comprises of cryptocurrency fans searching for prospects to generate profits.

Users get an encouragement to enroll, attracted by the assurance of receiving crypto benefits valued at hundreds of dollars, all free of charge. To increase the attractiveness of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

People who demonstrate interest visit Xaebit.com via links featured in advertisements or robotic posts. The webpage utilizes captivating visuals, design elements that appear authentic, and assertions of having a official license, all intended to present an initial image of credibility.

Step 3: Data Gathering

To collect their benefits, users need to proactively sign up on Xaebit and get instructions to provide sensitive and personal data during the registration process. This includes linking their cryptocurrency wallets, providing email addresses, giving phone numbers, sending in identification papers, and more.

Step 4: Requesting funds

Once signed up, users witness significant amounts of cryptocurrency, valued at hundreds of dollars, within their Xaebit wallets. Nonetheless, as is common with such rewards, you cannot withdraw them prior to making a deposit. Typically, a funds transfer of $100 is asked to get the sign-up bonus. This stipulation serves as the snare that ultimately leads to the money loss.

Step 5: Disappear

The moment the deposit is made, the scammers cease all contact. They move forward to block users, remove accounts, and vanish with both the transferred funds and vital individual details. The fictitious prizes continue to be perpetually uncredited, as they lack actual existence. They act solely as a fraudulent strategy. This approach forms the foundation for the fraudsters’ capacity to trick victims and embezzle hard-earned funds through their duplicative web crypto fraud.

Signs of Scam

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

• False Celebrity Sponsorship. Xaebit 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. Xaebit.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. Xaebit 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. Xaebit.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%, Xaebit preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Xaebit as a scam.

What Should I do as a Victim?

If you had to deal with Xaebit 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 fraud, scoundrels may get in touch with you with specific documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we previously figured out, these rascals have no intention of giving back your capital. So, what can these messages and browser plugins represent? Correct – that is another side of the scam designed to throw you into willingly running destructive applications onto your system.

Both plugins and attachments attached to email messages can act as a shell for various malicious software. In this case, I expect the presence of spyware and stealers among other forms of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As noted, their morality is of negligible importance, and their reputation is already deeply compromised. They have nothing to give up and strive to boost revenues.

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 Xaebit

Name: Xaebit

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