We Investigated Zuxbit: Legit or Scam? The Facts

Recently, Zuxbit.com website appeared, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather credible evidence that unmistakably confirms it is, in fact, a fraudulent platform.

Despite the promises of the most convenient, trustworthy, and customer-centric service, Zuxbit.com does not offer any of them. In fact, all this is just a golden wrap around a dirty scam, which steals your money and never gives them back. Any tales about bonuses, endorsement from celebrities etc are absent as well.

Zuxbit Scam Overview

Originally, Zuxbit poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another highlighted marketing point for this platform is backing from 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, con actors use deepfake videos where those celebrities promote the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.

Zuxbit Scam

Initially, Zuxbit repeats the layout of many equivalent websites. There are quite a few examples, like Disney, Bitminerz or Vilonex. They are completely identical in terms of visual elements, with small discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are unchanged. Probably, all these fraudulent online platforms are managed by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Zuxbit Scam Works?

Zuxbit is a part of a extensive 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 complex 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 generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign begins. Employing bots and sponsored advertisements (when feasible), fraud actors intensify the visibility of their fraudulent activities to possible victims. And as I said, scammers do not shy away using generative AI for creating clips with the mentioned celebrities that promote 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 Zuxbit in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

After following the promotions, victims end up on a page filled with enticing offers. “Crypto starts with Zuxbit”, “Your crypto savings are secured with Zuxbit, “Start earning with Zuxbit – they look rather credible. To heat up the interest and make the users proceed to step 3, scammers say that getting the pledged bonus requires registration. And as nothing concerning happens at this point, uninformed users happily proceed – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to steer away from the scam without any losses. Before you register using your personal information, crooks will not 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 said, scammers bait folks for registration with bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Only by gathering this information and selling it further into the Darknet, fraudsters can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the claimed bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require you to have funds on your account. In the case of Zuxbit, users are also coerced to top up to claim the bonuses. And these top ups is what creates most of the cash flow to this scam site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited capital and withdraw them.

This, however, is where the first obvious problems start to surface. When keeping an eye on the actual 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 have zero intentions to return your money. Though to make it look more legitimate, they’ve developed a whole bunch 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 wireout impossible.

By requesting your personal info, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your funds back. And each of these checks will share 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 Zuxbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Zuxbit 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. Zuxbit.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. Zuxbit 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. Zuxbit.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%, Zuxbit preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Zuxbit as a scam.

What Should I do as a Victim?

If you had to deal with Zuxbit 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 timeline of the scam, its masters may reach out to you with particular files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we already determined, these scoundrels have no intention of restoring your funds. So, what can these messages and browser extensions represent? Correct – that is another element of the scam designed to throw you into deliberately installing destructive programs onto your computer.

Both extensions and files attached to emails can serve as a carrier for different malware. In this case, I anticipate the presence of spyware and stealers among other forms of threats. While it is not obligatory for scammers to distribute malware, the probability is always above zero. As previously mentioned, their ethics is of negligible importance, and their reputation is already seriously marred. They have no scruples to give up and aim to boost gains.

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