Is Xbitm Legit or Another Scam? The Truth Revealed

Recently, Xbitm.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably confirms it is, actually, a deceptive site.

Despite what Xbitm site states, they won’t ever refund your funds. Even though the money displayed in the “member area”, there is absolutely no way to retrieve even a cent. All pledges regarding crypto bonuses 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.

DOWNLOAD NOW

Gridinsoft Anti-Malware 6-day trial available.
EULA | Privacy Policy | 10% Off Coupon

Subscribe to our Telegram channel to be the first to know about news and our exclusive materials on information security.

Xbitm Scam Overview

The primary feature that Xbitm attempts to provide is a safe and convenient cryptocurrency wallet service. The website pledges exchange facilities, tools for handling wallets, transfers, dashboards, and the like. In truth, they try to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it actually exclusively serves as a shell intended to fool the cautious.

Xbitm Scam

First and foremost, Xbitm reproduces the layout of numerous equivalent pages. There are quite a few examples, like Worldtrx, Wengrex or Wemprex. They are entirely identical in terms of visual elements, with slight discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are unchanged. Probably, all these scam websites are operated by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Xbitm Scam Works?

Xbitm is yet another webpage within a wide-ranging network of associated crypto scam sites. The operators employ various brand titles and sites, like Xbitm.com, to capture victims. Nonetheless, these deceptive websites share identical designs, terms of service, and About Us information. This unveils their sources as a part of the equal scam network, which advocates the same mode of scam under various covers. The deceivers simply duplicate the identical fraudulent site under different names to deceive users into believing they are participating in a fresh platform. However, in actuality, it’s the same group of swindlers orchestrating the fraudulent commitments and undertakings to seize deposited money. The administrators skillfully utilize psychological tactics and captivating propositions to carry out their dishonest plots.

Step 1: Spreading

To begin the fraud, criminals establish and fill accounts on well-liked social media platforms. They mainly aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Utilizing bots and paid advertisements (when possible), scam actors boost the exposure of their deceptive activities to potential victims. This approach permits them to create a broad net and interact with their focused viewers. The latter typically comprises of cryptocurrency enthusiastic individuals searching for chances to earn profits.

Users receive a stimulus to register, enticed by the commitment of getting crypto benefits valued at hundreds of dollars, all free of charge. To increase the appeal of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Users who express interest check out Xbitm.com via links included in advertisements or robotic posts. The webpage utilizes captivating visuals, design features that appear genuine, and claims of holding a official license, all aimed to convey an initial perception of reliability.

Step 3: Data Gathering

To collect their prizes, users need to deliberately set up an profile on Xbitm and get prompts to submit sensitive and private data during the registration procedure. This comprises linking their cryptocurrency wallets, providing email addresses, giving phone numbers, sending in identification documents, and the like.

Step 4: Requesting funds

Once registered, users witness substantial amounts of cryptocurrency, valued at thousands of dollars, within their Xbitm wallets. Nonetheless, as is typical with such bonuses, you are unable to withdraw them prior to making a deposit. Usually, a funds transfer of $100 is asked to get the sign-up bonus. This prerequisite serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

The moment the funds transfer is submitted, the deceivers cease all contact. They go ahead to bar users, remove accounts, and vanish with both the deposited money and vital personal information. The fictitious rewards remain perpetually uncredited, as they lack real existence. They function exclusively as a phishing ploy. This technique forms the foundation for the deceivers’ capacity to trick victims and misappropriate hard-earned money through their double-dealing internet-based crypto scam.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Xbitm 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 course of the fraud, its actors may get in touch with you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we previously figured out, these deceivers have no intention of restoring your money. So, what can these email messages and browser extensions represent? Correct – that is another side of the fraudulent scheme designed to throw you into willingly installing destructive programs onto your computer.

Both plugins and files attached to emails can serve as a shell for various malware. In this scenario, I expect the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As noted, their morality is of little concern, and their reputation is already deeply compromised. They have no scruples to lose and intend to maximize profits.

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 Xbitm

Name: Xbitm

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

Operating System: All

Application Category: Crypto Scams

Sending

User Review

4 (6 votes)

Comments Rating 0 (0 reviews)