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

Recently, Xenerax.com service popped up, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible supporting information that clearly indicates it is, in fact, a deceptive site.

Regardless of the promises of the most convenient, dependable, and customer-centric service, Xenerax.com does not fulfill any of them. In fact, all this is just a gilded wrap around a dirty scam, which steals your money and never returns them. Any stories about gifts, backing from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Xenerax Scam Overview

Originally, Xenerax poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another highlighted selling point for this service is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, frauds use AI-generated videos with those celebs advertise the scam as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Xenerax Scam

To begin with, Xenerax shares the design of numerous similar pages. There are quite a few examples, like Ecoinix, Edrochain or Emx1. They are completely indistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these deceptive online platforms are led by a single group of swindrels.

Cryptocurrency Scam Summary

How the Xenerax Scam Works?

Xenerax is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the identical 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 advanced 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 start the deceptive scheme, criminals set up and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid ads (when feasible), scam actors boost the presence of their scam activities to possible victims. And as I said, crooks do not shy away using generative AI for creating videos with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.

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

Users obtain an encouragement to register, attracted by the assurance of getting crypto benefits valued at thousands of dollars, all without cost. To augment the appeal of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, users end up on a page filled with attractive offers. “Crypto starts with Xenerax”, “Your crypto savings are secured with Xenerax, “Start earning with Xenerax – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that claiming the pledged bonus requires registration. And since nothing concerning happens at this point, uninformed users happily move on – especially as the gift appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal info, frauds 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 said, scammers bait folks into signing up for bonuses. And all the personal data needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Eventually, any crypto purchases require you to have money on your account. In the case of Xenerax, users are also forced to top up to claim the bonuses. And these top ups is what creates most of the money flow to this scam website. 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 deposited capital and withdraw them.

This, however, is where the first obvious problems start to surface. When comparing the real crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to pull out the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers are naught on intentions to send you money. But to make the denial look more realistic, they’ve made up a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC regulations say, but for the Xenerax.com they are here only to make the withdrawal impossible.

By requesting your personal information, scammers 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 would desperately need to undergo before getting your funds back. And each of these checks will uncover 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 Xenerax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Xenerax 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%, Xenerax exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Xenerax as a scam.
• Dubious Corporate Information. Xenerax 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. Xenerax.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. Xenerax 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 Xenerax 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 course of the scam, rascals may reach out to you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we already determined, these scammers have no intent of returning your funds. So, what do these email messages and browser add-ons represent? Correct – that is another component of the deceptive plan designed to throw you into deliberately installing harmful programs onto your system.

Both extensions and attachments included to emails can act as a carrier for diverse malware. In this scenario, I foresee the presence of spyware and stealers among other types of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As previously mentioned, their conscience is of negligible importance, and their dignity is already seriously marred. They have no scruples to lose and intend to maximize profits.

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