Zedxbit Reviewed: Legit or Total Ripoff? Read This First

Recently, Zedxbit.com site surfaced, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather credible proof that unmistakably confirms it is, actually, a deceptive service.

Despite the promises of the most user-friendly, trustworthy, and client-friendly service, Zedxbit.com does not follow any of them. All this is just a golden wrap around a dirty scam, which takes your money and data and never returns them. Any stories about gifts, endorsement from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Zedxbit Scam Overview

Originally, Zedxbit poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another bright marketing point for this service is partnerships with celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, frauds employ deepfake videos with those celebs advertise the scam as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Zedxbit Scam

Initially, Zedxbit copies the design of multiple similar websites. There are quite a few examples, like Afovert, Satochange or Rygexo. They are completely undistinguishable in terms of visual elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these deceptive sites are operated by a single group of swindrels.

Cryptocurrency Scam Summary

How the Zedxbit Scam Works?

Zedxbit is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use several 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 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 deceptive scheme, criminals set up and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Utilizing bots and paid ads (when achievable), scam actors intensify the presence of their deceptive activities to potential victims. And as I said, scammers do not disdain using deepfake for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users receive an encouragement to enroll, drawn by the commitment of obtaining cryptocurrency rewards valued at thousands of dollars, all without cost. To enhance the attractiveness of the offer, fake claims of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After clicking the ads, victims end up on a page filled with appealing offers. “Crypto starts with Zedxbit”, “Your crypto savings are secured with Zedxbit, “Start earning with Zedxbit – they look rather credible. To heat up users and make them proceed to step 3, fraudsters say that obtaining the promised bonus requires registration. And as nothing questionable happens at this point, unaware users happily proceed – especially since the reward appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you sign up using your personal data, frauds 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 mentioned, deceivers bait folks into signing up to get bonuses. And all the personal info needed for it – email, username, crypto wallet address – is valuable for user identification. Only by gathering this data 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 alleged bonus right away. To make at least crypto purchases on the platform with it, you need to 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 operations require you to have capital on your account. With Zedxbit, users are also forced to top up to get the bonuses. And this is what creates the majority of the cash flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the deposited money and withdraw them.

This is where the first obvious problems start to surface. When keeping an eye on the actual cryptocurrency 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 money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that swindlers are naught on intentions to give your money back. Though to make the denial look more realistic, they’ve elaborated a whole pack of reasons to decline the withdrawal request. Most of them repeat what KYC requirements say, but in this case they are here exclusively to make the withdrawal impossible.

By asking for your personal information, frauds just stall hoping for you to accept the loss 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 each of these checks 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 Zedxbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Zedxbit often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Zedxbit.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Zedxbit raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Zedxbit.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Zedxbit preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Zedxbit as a scam.

What Should I do as a Victim?

If you had to deal with Zedxbit 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 timeline of the scam, its actors may contact you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto assets. As we earlier determined, these scoundrels have no plan of restoring your funds. So, what do these emails and browser add-ons represent? Correct – that is another side of the fraudulent scheme designed to throw you into deliberately installing destructive applications onto your device.

Both add-ons and files included to emails can function as a carrier for diverse malware. In this situation, I anticipate the presence of spyware and stealers among all types of malware. While it is not mandatory for scammers to distribute malware, the likelihood is always greater than zero. As stated, their conscience is of negligible importance, and their reputation is already seriously marred. They have no principles to give up and aim to boost revenues.

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