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

Recently, Xbithi.com site appeared, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible supporting information that unmistakably indicates it is, actually, a scam site.

Regardless of the promises of the most convenient, trustworthy, and customer-centric service, Xbithi.com does not offer any of them. All this is just a golden wrap around a blatant scam, which takes your money and never gives them back. Any tales about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

Xbithi Scam Overview

Originally, Xbithi poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another bright selling point for this site is backing from 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, frauds employ deepfake videos where those celebrities advertise the fraud as if it was 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 vivid wrap around a transparent scam.

Xbithi Scam

Initially, Xbithi copies the design of numerous equivalent online platforms. There are quite a few examples, like Vopenox, Selovex or Globalibtrades. They are completely indistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other details, and sometimes even crypto wallet addresses, are matching. Probably, all these scam websites are operated by a single gang of scammers.

Cryptocurrency Scam Summary

How the Xbithi Scam Works?

Xbithi is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use various website designs, which still share the same overall layout. Another shared 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 sophisticated 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 scam, criminals create and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Using bots and paid advertisements (when achievable), fraud actors intensify the visibility of their scam activities to potential victims. And as I said, crooks do not disdain using generative AI for creating videos with the mentioned celebs that advertise 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 Xbithi in TikTok. Most of these videos are AI-generated deepfakes

Users obtain a stimulus to enroll, drawn by the promise of getting crypto benefits valued at hundreds of dollars, all without cost. To enhance the appeal of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, victims end up on a page filled with appealing offers. “Crypto starts with Xbithi”, “Your crypto savings are secured with Xbithi, “Start earning with Xbithi – they look rather authoritative. To heat up users and make them proceed to step 3, fraudsters say that getting the promoted bonus requires registration. And as nothing questionable happens at this point, uninformed users happily move on – especially as the bonus 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 sign up using your personal data, swindrels will not earn even a penny from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks into signing up to get bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Only by gathering this information and selling it further into the Darknet, crooks can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the alleged bonus right away. To make at least crypto purchases on the platform with it, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any cryptocurrency purchases require you to have capital on your account. In the case of Xbithi, users are also compelled to top up to claim the bonuses. And these top ups is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the transferred funds and withdraw them.

This, however, is where the 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 pull out 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 scoundrels have 0 intentions to send you money. Though to make the fraud look more realistic, they’ve developed a whole pack 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 data, deceivers 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 funds back. And every check will reveal more and more info of yours, which – you guessed it right – will be then traded 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 Xbithi.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Xbithi 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%, Xbithi exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Xbithi as a scam.
• Dubious Corporate Information. Xbithi 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. Xbithi.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. Xbithi 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 Xbithi 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, rascals may contact you with specific documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we already determined, these scoundrels have no plan of restoring your funds. So, what do these email messages and browser plugins represent? You guessed it right – this is another element of the scam designed to throw you into willingly running destructive software onto your system.

Both extensions and files included to email messages can act as a carrier for diverse malware. In this scenario, I anticipate the presence of spyware and stealers among other forms of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As noted, their conscience is of little concern, and their dignity is already seriously marred. They have no scruples to give up and aim to boost revenues.

Frequently asked questions