Zaglex Review: Legit or Scam? Read This First

Recently, Zaglex.com service surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable supporting information that unmistakably reveals it is, in truth, a scam service.

Despite the promises of the most easy, dependable, and client-friendly service, Zaglex.com does not fulfill any of them. In fact, all this is just a golden wrap around a clear scam, which steals your money and data and never returns them. Any stories about bonuses, sponsorship from celebrities etc are non-existent as well.

Zaglex Scam Overview

Originally, Zaglex poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another notable marketing point for this service is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, frauds employ AI-generated videos where those celebrities promote the fraud as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Zaglex Scam

First and foremost, Zaglex repeats the layout of multiple equivalent websites. There are quite a few examples, like Xelonmex, Xcoinwex or Vautes. They are totally undistinguishable in terms of graphic elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are matching. Most likely, all these deceptive online platforms are operated by the same gang of scammers.

Cryptocurrency Scam Summary

How the Zaglex Scam Works?

Zaglex is a part of a significant 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals create and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Using bots and sponsored promotions (when feasible), scam actors boost the exposure of their fraudulent activities to potential victims. And as I said, scammers do not disdain using deepfake for creating clips with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who joins the service immediately.

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

Users get an incentive to sign up, drawn by the assurance of receiving cryptocurrency benefits valued at hundreds of dollars, all without cost. To augment the appeal of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After following the promotions, users end up on a page filled with appealing offers. “Crypto starts with Zaglex”, “Your crypto savings are secured with Zaglex, “Start earning with Zaglex – they look rather credible. To heat up the interest and make the users proceed to step 3, scammers say that claiming the promoted bonus requires registration. And since nothing suspicious happens at this point, unaware users happily keep on – especially as the reward 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 information, swindrels will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

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

As it turns out, you cannot use the promised bonus right away. To make at least crypto purchases on the platform with it, 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 crypto purchases require having funds on your account. With Zaglex, users are also coerced to top up to get the bonuses. And these top ups is what creates the majority of the money flow to this scam 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 credited money and withdraw them.

This, however, is where the victim notices the issues. When comparing the actual 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 scoundrels are naught on intentions to return your money. But to make it look more legitimate, they’ve elaborated a whole bunch of reasons to decline the wireout request. Most of them repeat what Know Your Client regulations say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for 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 multiple other checks you would desperately need to undergo before getting your money back. And every check will share 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 Zaglex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Zaglex 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 fraud, its masters may reach out to you with specific files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto assets. As we already determined, these scammers have no plan of returning your capital. So, what can these emails and browser extensions represent? Correct – this is another component of the deceptive plan designed to entice you into deliberately running harmful programs onto your computer.

Both plugins and attachments added to emails can function as a carrier for diverse malicious code. In this scenario, I anticipate the presence of spyware and stealers among other forms of malicious programs. While it is not mandatory for scammers to distribute malware, the chance is always above zero. As noted, their ethics is of negligible importance, and their reputation is already seriously marred. They have no principles to give up and strive to boost profits.

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