We Investigated Zedropex: Legit or Scam? The Facts

Recently, Zedropex.com service popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably reveals it is, in fact, a deceptive site.

Despite the promises of the most user-friendly, dependable, and customer-centric service, Zedropex.com does not follow any of them. All this is just a shiny wrap around a clear scam, which steals your money and never returns them. Any tales about bonuses, sponsorship from celebrities etc are absent as well.

Zedropex Scam Overview

Originally, Zedropex poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another bright marketing point for this platform is partnerships with celebrities that have relation to 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, frauds employ AI-generated videos where those celebrities advertise the scam as 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 blatant wrap around an obvious scam.

Zedropex Scam

First and foremost, Zedropex repeats the appearance of numerous similar pages. There are quite a few examples, like Panlenex, Omerox or Newfreshest. They are totally undistinguishable in terms of visual elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are identical. Most likely, all these scam sites are led by a single gang of swindrels.

Cryptocurrency Scam Summary

How the Zedropex Scam Works?

Zedropex is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the similar 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To begin the fraud, criminals set up and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Employing bots and sponsored advertisements (when possible), scam actors intensify the visibility of their deceptive activities to possible victims. And as I said, crooks do not disdain using deepfake for creating videos with the aforementioned 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.

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

Step 2: Gaining Traffic

After following the promos, targets end up on a page filled with appealing offers. “Crypto starts with Zedropex”, “Your crypto savings are secured with Zedropex, “Start earning with Zedropex – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that unlocking the promoted bonus requires registration. And since nothing suspicious happens at this point, unaware users happily move on – especially as the gift 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 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 information 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, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the alleged bonus right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto purchases require having funds on your account. In the case of Zedropex, users are also coerced to top up to get the bonuses. And these top ups is what creates most of the money flow to this fraudulent 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 transferred capital and withdraw them.

This, however, is where the victim notices the problems. When keeping an eye on the real cryptocurrency wallet vs what the site says, you can notice 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

Needless to say that swindlers are naught on intentions to send you money. Though to make the denial look more legitimate, they’ve crafted a whole pack of reasons to decline the transfer-out request. Most of them repeat what Know Your Client guidelines say, but for the Zedropex.com they are here exclusively to make the wireout impossible.

By requesting your personal data, 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 should go through before getting your money back. And every check will reveal more and more information, 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 Zedropex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Zedropex 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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, rascals may reach out to you with specific files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we already figured out, these scoundrels have no intention of restoring your funds. So, what can these emails and browser plugins represent? You guessed it right – that is another side of the deceptive plan designed to throw you into willingly installing destructive software onto your system.

Both plugins and files attached to emails can function as a carrier for diverse malicious software. In this scenario, I foresee the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their morality is of no concern, and their reputation is already severely tarnished. They have no principles to give up and aim to boost profits.

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