We Looked at the Evidence: Is Xcryptod Legit or Scam?

Recently, Xcryptod.com website appeared, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably reveals it is, in fact, a scam service.

Despite what Xcryptod site says, they will never refund your funds. Even though the money displayed in the “member area”, there is no means to withdraw even a single coin. All promises regarding crypto bonuses are empty as well.

Xcryptod Scam Overview

The primary offering that Xcryptod aims to provide is a secure and convenient crypto wallet service. The website pledges exchange facilities, tools for handling wallets, transfers, dashboards, and similar stuff. In fact, they aim to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in fact exclusively serves as a shell intended to lull the vigilance.

Xcryptod Scam

First and foremost, Xcryptod reproduces the appearance of multiple similar websites. There are quite a few examples, like Coinmunex, Swapstorex or Coindamex. They are completely undistinguishable in terms of visual elements, with slight discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are identical. Most likely, all these fraudulent sites are operated by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Xcryptod Scam Works?

Xcryptod is yet another webpage within a wide-ranging network of associated crypto deceptive webpages. The administrators employ diverse brand titles and sites, like Xcryptod.com, to capture victims. However, these deceptive sites possess the same website designs, terms of service, and About content. This reveals their sources as a part of the equal scam network, which advocates the similar mode of deception under diverse disguises. The scammers just copy the equal scam website under various names to deceive users into believing they are joining a new venture. However, in reality, it’s the identical group of scammers orchestrating the misleading commitments and efforts to take deposited funds. The operators cleverly make use of psychological tactics and appealing invitations to implement their deceitful schemes.

Step 1: Spreading

To initiate the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Utilizing bots and sponsored advertisements (when feasible), scam actors increase the exposure of their fraudulent activities to possible victims. This strategy allows them to cast a wide net and connect with their aimed audience. The latter commonly comprises of cryptocurrency enthusiastic individuals searching for chances to generate profits.

Step 2: Gaining Traffic

People who express interest check out Xcryptod.com via links present in promotions or bot-generated posts. The site employs captivating visuals, design aspects that appear genuine, and assertions of having a official license, all intended to project an initial perception of reliability.

Step 3: Data Gathering

To redeem their rewards, users need to deliberately sign up on Xcryptod and get guidance to provide sensitive and private data during the enrollment procedure. This comprises linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once enrolled, users observe considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Xcryptod wallets. However, as it usually happens with such incentives, you are unable to withdraw them prior to making a deposit. Usually, a payment of $100 is required to get the sign-up bonus. This condition serves as the trap that ultimately results to the money loss.

Step 5: Disappear

Signs of Scam

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

• Absent company details. Xcryptod does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Xcryptod like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Xcryptod, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Xcryptod is a definite scam.

What Should I do as a Victim?

If you had to deal with Xcryptod 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 scam, its masters may reach out to you with specific files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we previously determined, these scammers have no intent of returning your funds. So, what do these email messages and browser add-ons represent? Correct – this is another component of the deceptive plan designed to entice you into willingly installing malicious software onto your device.

Both add-ons and attachments included to email messages can act as a shell for various malicious code. In this situation, I foresee the presence of spyware and stealers among all forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As stated, their ethics is of no concern, and their dignity is already deeply compromised. They have no principles to give up and intend to boost revenues.

Frequently asked questions