We Investigated Zaispace: Legit or Scam? The Facts

Written by Daniel Zimmerman

Recently, Zaispace.com site surfaced, promoting itself as a place where you can safely keep cryptocurrency and other assets. I managed to gather credible proof that clearly indicates it is, actually, a deceptive service.

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

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Zaispace Scam Overview

Originally, Zaispace poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another highlighted marketing 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 real, con actors employ AI-generated videos where those celebrities promote the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a glaring wrap around a transparent scam.

Zaispace.com Scam

Zaispace Scam

To begin with, Zaispace copies the design of multiple similar online platforms. There are quite a few examples, like Xelontrade, Walletxcoin or Verginox. They are completely identical in terms of visual elements, with small discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are the same. Most likely, all these fraudulent websites are led by the same team of scammers.

Cryptocurrency Scam Summary

Website Zaispace.com
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 188.114.97.3
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Zaispace Scam Works?

Zaispace is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Scammers 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 sophisticated 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 begin the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and paid advertisements (when feasible), fraud actors increase the exposure of their fraudulent activities to potential 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, swindlers claim the bonus for every user who joins the service immediately.

Cryptoscam ads TIkTok

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

Users get an incentive to register, drawn by the assurance of receiving crypto rewards valued at thousands of dollars, all for free. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the ads, targets end up on a page filled with appealing offers. “Crypto starts with Zaispace”, “Your crypto savings are secured with Zaispace, “Start earning with Zaispace – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that unlocking the pledged bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily move on – especially since 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 info, swindrels 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 mentioned, scammers bait folks for registration with bonuses. And all the personal info needed for it – username, email, crypto wallet address – are valuable for user identification. Exclusively by gathering this information 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 it at least usable for crypto purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

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

This is where the first obvious issues start to surface. When keeping an eye on the real 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

There’s no need to explain that scoundrels are naught on intentions to return your money. Though to make it look more realistic, they’ve made up a whole pack of reasons to decline the withdrawal request. Usually, they repeat what Know Your Client regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal data, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your grand back. And every check will uncover more and more info of yours, 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 Zaispace.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Zaispace 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, its actors may contact you with specific files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we earlier determined, these deceivers have no plan of restoring your capital. So, what do these emails and browser plugins represent? Correct – that is another component of the scam designed to throw you into willingly running destructive software onto your computer.

Both plugins and files added to email messages can serve as a shell for diverse malicious code. In this case, I anticipate the presence of spyware and stealers among other kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the chance is always existent. As noted, their morality is of negligible importance, and their reputation is already deeply compromised. They have no principles to give up and aim to maximize profits.

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Frequently asked questions

Is there any real info on Zaispace site?

The vast majority of information posted on the Zaispace site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Zaispace site promices real?

No, there is no legitimate information on the Zaispace site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Zaispace scam?

Unfortunately, recovering funds lost to a scam like Zaispace can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Verify Regulation and Licensing. Before proceeding, ensure that the platform or service is regulated and possesses the necessary licenses from relevant authorities. Scammers often operate without proper authorization.
  2. Resist Urgency. Be cautious of tactics that create a false sense of urgency to pressure you into quick decisions. Legitimate investments provide ample time for research and consideration.
  3. Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
  4. Question Unrealistic Promises. Approach offers with unrealistically high returns or guaranteed profits skeptically. If an investment opportunity seems too good to be true, it probably is.
  5. Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.

What should I do as a victim of a Zaispace.com scam?

If you have become a victim of a Zaispace or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Thoroughly Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
The truth about Zaispace

Name: Zaispace

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Zaispace, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Zaispace scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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