Yxspacex Reviewed: Legit or Total Ripoff? Read This First

Recently, Yxspacex.com website surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather credible proof that clearly indicates it is, actually, a fraudulent platform.

Regardless of the promises of the most user-friendly, reliable, and customer-centric service, Yxspacex.com does not fulfill any of them. In fact, all this is just a gilded wrap around a blatant scam, which takes your funds and never gives them back. Any stories about bonuses, backing from celebrities etc are non-existent as well.

Yxspacex Scam Overview

Originally, Yxspacex poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another notable selling point for this site is partnerships with celebrities that are known as crypto activists. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, frauds employ deepfake videos where those celebrities promote the fake crypto service as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Yxspacex Scam

To begin with, Yxspacex copies the layout of multiple similar websites. There are quite a few examples, like Grondeex, Depnix or Dandkmall. They are entirely undistinguishable in terms of visual elements, with slight discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Probably, all these fraudulent websites are operated by a single group of scoundrels.

Cryptocurrency Scam Summary

How the Yxspacex Scam Works?

Yxspacex is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use various 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 complex 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 start the scam, criminals establish and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Employing bots and paid promotions (when feasible), scam actors boost the visibility of their deceptive activities to possible victims. And as I said, scammers 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 Yxspacex in TikTok. Most of these videos are AI-generated deepfakes

Users get an encouragement to enroll, drawn by the assurance of receiving crypto rewards valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

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

This is the last stage when 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 the starting poing of the main fraud action. As I just mentioned, deceivers bait folks into signing up for bonuses. And all the personal data needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Exclusively 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, the alleged bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, the user should top up the account with the sum of a bonus. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require having money on your account. In the case of Yxspacex, users are also forced to top up to claim the bonuses. And this is what creates most of the cash flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the credited capital and withdraw them.

This, however, is where the first obvious issues start to surface. When keeping an eye on the actual crypto wallet vs what the website says, you can notice 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 scoundrels are naught on intentions to give your money back. But to make the fraud look more realistic, they’ve developed a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC requirements say, but in this case they are here exclusively to make the withdrawal 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 should go through before getting your funds back. And every check will uncover more and more information, 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 Yxspacex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Yxspacex 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%, Yxspacex exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Yxspacex as a scam.
• Dubious Corporate Information. Yxspacex 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. Yxspacex.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. Yxspacex 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 Yxspacex 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 duration of the scam, rascals may contact you with particular documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously figured out, these scoundrels have no intention of returning your money. So, what can these email messages and browser plugins represent? Correct – this is another component of the scam designed to throw you into deliberately running destructive programs onto your computer.

Both add-ons and attachments added to emails can serve as a shell for different malicious code. In this scenario, I expect the presence of spyware and stealers among other types of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their morality is of little concern, and their dignity is already deeply compromised. They have no principles to give up and intend to boost revenues.

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