The Truth About Xelotix: Legit or Scam? Our Review

Recently, Xelotix.com site surfaced, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible evidence that unmistakably confirms it is, in fact, a scam platform.

Regardless of the promises of the most easy, dependable, and customer-centric service, Xelotix.com does not fulfill any of them. All this is just a shiny wrap around a clear scam, which steals your money and data and never returns them. Any tales about gifts, backing from celebrities etc are non-existent as well.

Xelotix Scam Overview

Originally, Xelotix poses as a crypto trading & cryptowallet platform with remarkably low commission fees. Another highlighted marketing point for this site is backing from 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 more realistic, rascals use deepfake videos with those celebs advertise the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Xelotix Scam

First and foremost, Xelotix shares the layout of numerous similar websites. There are quite a few examples, like Zelerix, Pewgex or Beastzone. They are completely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are identical. Presumably, all these scam websites are operated by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Xelotix Scam Works?

Xelotix is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use various website designs, which still share the similar 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 sophisticated psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the deceptive scheme, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and sponsored ads (when possible), fraud actors boost the exposure of their scam activities to potential victims. And as I said, crooks do not shy away using deepfake for creating clips with the mentioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users obtain an encouragement to enroll, drawn by the assurance of obtaining crypto rewards valued at thousands of dollars, all for free. To augment the attractiveness of the offer, false claims of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, targets end up on a page filled with attractive offers. “Crypto starts with Xelotix”, “Your crypto savings are secured with Xelotix, “Start earning with Xelotix – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that getting the pledged bonus requires registration. And since nothing questionable happens at this point, unaware users happily move on – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to steer away from the scam without any losses. Before you register using your personal data, rascals will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, scammers bait folks for registration with bonuses. And all the personal data needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Only by gathering this info and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any crypto operations require having capital on your account. With Xelotix, users are also coerced to top up to use the bonuses. And this is what creates the majority of the cash flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the credited capital and withdraw them.

This is where the victim notices the problems. When comparing the real cryptocurrency wallet vs what the website says, you can observe that no transactions are done whatsoever. And then, when you’d try to withdraw 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 fraudsters have zero intentions to return your money. Though to make the fraud look more legitimate, they’ve developed a whole pack of reasons to decline the wireout request. Usually, they repeat what KYC requirements say, but in this case they are here only to make the wireout impossible.

By requesting your personal info, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And every check will reveal 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 Xelotix.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Xelotix 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 the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

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 files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we earlier figured out, these scoundrels have no intent of returning your funds. So, what can these messages and browser extensions represent? Correct – this is another element of the fraudulent scheme designed to throw you into willingly installing malicious software onto your system.

Both plugins and attachments added to emails can act as a carrier for various malware. In this case, I expect the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the probability is always existent. As stated, their morality is of no concern, and their reputation is already neck deep in mud. They have no scruples to lose and strive to boost gains.

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