We Investigated Xonade: Legit or Scam? The Facts

Recently, Xonade.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly indicates it is, actually, a fraudulent platform.

Regardless of the promises of the most convenient, reliable, and customer-centric service, Xonade.com does not fulfill any of them. In fact, all this is just a gilded wrap around a clear scam, which takes your money and never returns them. Any tales about gifts, sponsorship from celebrities etc are non-existent as well.

Xonade Scam Overview

Originally, Xonade poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another notable marketing point for this site is partnerships with celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, rascals use AI-generated videos where those celebrities promote the fraud as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a blatant wrap around an obvious scam.

Xonade Scam

Initially, Xonade copies the appearance of multiple equivalent pages. There are quite a few examples, like Aurayawallet, Acrochainex or Mixnex. They are totally indistinguishable in terms of visual elements, with small discrepancies in the website header. Other particulars, and at times even crypto wallet addresses, are matching. Most likely, all these fraudulent online platforms are operated by a single gang of scammers.

Cryptocurrency Scam Summary

How the Xonade Scam Works?

Xonade is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use various website designs, which still share the same overall layout. Another shared 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals establish and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Using bots and paid ads (when possible), scam actors intensify the visibility of their fraudulent activities to possible victims. And as I said, crooks do not disdain using generative AI for creating clips with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

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

Step 2: Gaining Traffic

After clicking the promos, targets end up on a page filled with attractive offers. “Crypto starts with Xonade”, “Your crypto savings are secured with Xonade, “Start earning with Xonade – they look rather authoritative. To heat up users and make them proceed to step 3, crooks say that claiming the promised bonus requires registration. And since nothing questionable happens at this point, unaware users happily keep 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 sign up using your personal information, rascals will not be able to earn even a penny 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 to get bonuses. And all the personal information 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, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the claimed bonus 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 operations require having money on your account. With Xonade, users are also coerced to top up to claim the bonuses. And this is what creates most of the money flow to this fraudulent site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the deposited capital and withdraw them.

This is where the victim notices the problems. When comparing the actual crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have 0 intentions to send you money. But to make the denial look more realistic, they’ve made up a whole pack of reasons to decline the wireout request. Most of them repeat what Know Your Client requirements say, but for the Xonade.com they are here only to make the wireout impossible.

By requesting your personal information, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your money back. And each of these checks will reveal more and more info of yours, which – you guessed it right – will be then sold 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 Xonade.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Xonade 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 timeline of the fraud, fraudsters 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 cryptocurrency savings. As we previously determined, these deceivers have no plan of restoring your money. So, what can these email messages and browser add-ons represent? Correct – this is another component of the fraudulent scheme designed to entice you into deliberately installing malicious applications onto your device.

Both extensions and files added to email messages can function as a carrier for various malware. In this case, I anticipate the presence of spyware and stealers among other forms of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their morality is of negligible importance, and their reputation is already severely tarnished. They have nothing to give up and strive to boost gains.

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