Spyrax.com is a scam website that fronts as a legitimate trading platform in order to defraud unsuspecting victims. They use fake videos of celebrities like Ronaldo, Elon Musk and Jeff Bezos to attract potential victims aka investors to use their platform and make deposits that sometimes ranges in the thousands.
In this review, we will reveal how Spyraxcom is a scam not affiliated to Elon Musk or any other celebrity and how it works.
Revealing The Spyrax.com Crypto Scam
Spyrax.com is a website that claims to offer high returns through cryptocurrency investing trading and digital asset exchanges. They front as a legit platform that helps you make money by investing and trading cryptocurrencies.
Suffice to say, this platform is a scam like many others of its kind that has the sole purpose of creating trust by offering things like portfolio monitoring, crypto training, and celebrities Bitcoin giveaway so that they can subsequently drain their accounts.
This website is not affiliated to Elon Musk or Jeff Bezos or any other celebrity for that matter and the videos of celebrities going round the internet claiming to offer Free Bitcoins are fake and doctored by AI.
RedFlags Of The Spyrax.com Website
Website access:
We were unable to access this website, and this may either be due to the fact that it has already been taken down prior to us carrying out this research or are they are deliberately hiding its contents. As a new website, this is definitely a red flag, and it should be avoided.
Certification:
Spyrax.com claims to be certified and endorsed by a couple of legal departments but there’s no evidence to back up these claims. This falsification of claims is rampant among scam websites as it aims to give the victims a false sense of legality and trust.
Lack of Information:
There’s no information about the company’s founders, its headquarters, and official registration. Legitimate platforms typically provide a transparent background, whereas platforms with limited or no public information often raise concerns.
How the Spyrax.com Scam works
This platform uses fraudulent schemes, such as fake bitcoin giveaway from celebrities like Elon Musk and Jeff Bezos by using specific promo codes.
Most times, the news about their platform is spread by the use of pyramid schemes. This is a system whereby they pay out a few users at first to build trust but as soon as they have enough people invested the system collapses leaving everyone with nothing
The scammers behind this website often use deceptive tactics to lure victims into making cryptocurrency investments, promising unusually high returns or exclusive opportunities that are too good to be true.
After registering and applying these codes, users accounts are immediately credited, which tricks them into believing that they have received free Bitcoin, when in reality, it is just a ruse to lure them into a deeper fraudulent pyramid scheme.
However, they are unable to withdraw this free crypto unless they fund their account with 0.005BTC in order to activate the withdrawal feature.
If this money/investment is made the user is immediately blocked from the account and therefore unable to withdraw both the alleged free crypto and the transferred 0.005BTC.
This website’s sole purpose is to trick people into “investing” in worthless cryptocurrencies or nothing at all which leads to false hopes and financial loss sometimes in the thousands by these unsuspecting victims.
These scammers usually deceptive tactics to manipulate people into installing malicious software. They may send suspicious files or suggest installing cryptocurrency wallet applications or browser extensions.
What To Do If You Fall For A Scam
Cancel your credit card
Immediately call your financial provider and cancel your credit card. By so doing, the credit card details you used for your transaction would become null and void.
Request for a new card
After the old credit card has been canceled, ask for a new card, it doesn’t cost much to get one. Your credit card issuer will issue you a new one with different numbers.
Report the Fraud To Relevant Authorities
Report the scam to relevant authorities and organizations. This includes:
Better Business Bureau (BBB): File a complaint with the BBB if the online store is based in the United States.
Internet Crime Complaint Center (IC3): If you are in the United States, you can file a complaint with the IC3 at https://www.ic3.gov/.
Your Local Consumer Protection Agency: Contact your local consumer protection agency or the equivalent regulatory body in your country.
Ways to spot crypto scams
- Too good to be true: If the returns or promises seems exaggerated or unrealistic, it’s likely a scam.
- Lack of transparency: If the project or company behind the crypto asset is unclear or secretive, it’s a red flag.
- Unregistered: Check if the crypto asset or company is registered with regulatory bodies.
- Pressure to buy in: Scammers often create a false sense of urgency to buy in quickly.
- Unverified social media: Be cautious of social media profiles promoting crypto assets without verification.
- Fake celebrity endorsements: Be wary of celebrity endorsements that seem fake or unverified.
- Poor website quality: A low-quality website or lack of a website can indicate a scam.
- No clear team: If the team behind the project is unknown or anonymous, it’s a red flag.
Always be on the lookout for possible crypto investment scams and avoid them.
Conclusion
In conclusion, Spyrax.com is a crypto scam platform that preys on unsuspecting investors with promises of high returns. Its lack of transparency, false certification claims, and deceptive tactics make it a dangerous website in the crypto space.
We strongly advise against investing in Spyrax.com and recommend being extremely cautious when dealing with similar platforms.
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Samantha