Investigating Xenutix: Legit or Scam? The Truth Revealed

Recently, Xenutix.com service popped up, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather credible evidence that unmistakably confirms it is, in fact, a deceptive site.

Despite the promises of the most user-friendly, reliable, and client-friendly service, Xenutix.com does not offer any of them. All this is just a shiny wrap around a dirty scam, which steals your funds and never gives them back. Any stories about bonuses, endorsement from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Xenutix Scam Overview

Originally, Xenutix poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another highlighted selling point for this service is partnerships with 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, frauds use AI-generated videos with those celebs promote the fake crypto service 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 glaring wrap around an obvious scam.

Xenutix Scam

To begin with, Xenutix shares the design of numerous similar online platforms. There are quite a few examples, like Zelonor, Sag or Wazxdex. They are completely undistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are identical. Presumably, all these scam online platforms are managed by a single team of scammers.

Cryptocurrency Scam Summary

How the Xenutix Scam Works?

Xenutix is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the similar overall layout. Another common 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 complex 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 initiate the scam, 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 promotions (when feasible), fraud actors intensify the presence of their fraudulent activities to potential victims. And as I said, crooks do not shy away using deepfake for creating clips with the mentioned celebs that advertise 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 Xenutix in TikTok. Most of these videos are AI-generated deepfakes

Users get an encouragement to sign up, attracted by the commitment of obtaining cryptocurrency prizes valued at thousands of dollars, all without cost. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon following the promotions, targets end up on a page filled with enticing offers. “Crypto starts with Xenutix”, “Your crypto savings are secured with Xenutix, “Start earning with Xenutix – they look rather authoritative. To heat up the interest and make the users proceed to step 3, scammers say that getting the promoted bonus requires registration. And since nothing suspicious happens at this point, unexperienced users happily proceed – especially as the bonus appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you register using your personal info, swindrels will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, frauds bait folks for registration with bonuses. And all the personal data needed for it – username, email, crypto wallet address – is valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the alleged bonus is not available for withdrawal right away. To make it at least usable for crypto purchases, the user should top up the account with the equivalent sum. And this is what initiates the final step of the scam.

Step 4: Requesting funds

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

This is where the first obvious issues start to surface. When comparing the actual 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

There’s no need to explain that fraudsters have 0 intentions to give your money back. But to make the fraud look more realistic, they’ve made up a whole pack of reasons to decline the transfer-out request. Most of them repeat what Know Your Client guidelines say, but in this case they are here only to make the wireout impossible.

By requesting your personal info, 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 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 Xenutix.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Xenutix 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 Xenutix 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 Xenutix, 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 Xenutix is a definite scam.

What Should I do as a Victim?

If you had to deal with Xenutix 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 timeline of the scam, scoundrels may get in touch with you with particular files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we previously determined, these deceivers have no intention of restoring your capital. So, what can these email messages and browser plugins represent? You guessed – this is another element of the scam designed to entice you into deliberately running malicious software onto your system.

Both extensions and attachments included to emails can serve as a shell for diverse malicious software. In this scenario, I expect the presence of spyware and stealers among all kinds of threats. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As stated, their ethics is of little concern, and their dignity is already severely tarnished. They have no principles to lose and aim to boost gains.

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