Beware of an elaborate scam !! COINBETSX.com / previously known as Bitexbet.com and coinbeta.ltd.... Crypto gambling scam !!
Hi Everyone,
As a fellow trader I think it is my duty to warn other traders regarding scams especially when they are targeted at newbies.
There is currently a website going by the name of Coinbetsx.com which has concocted an elaborate scam whereby they prey on newbies via telegram to get them to deposit money via their crypto gambling site.
Please see detailed overview of their ‘elaborate’ set up:
1. You will be contacted on telegram but someone who will claim to be a moderator on the crypto gambling site and will persuade you to join in the gambling game as they can rig the game in your favour so that they can share in the profits
2. 100 dollars is the minimum requirement to deposit in order to take part in a game but you will find that they will take a transaction fee at deposit stage which will reduce your deposit amount and require you to add further funds to increase deposit amount over 100 dollars (which they don’t tell you at the beginning) …surprise surprise.. minimum deposit is also $100. So, in total you will need to deposit $200 to take part in the game
3. The moderator will coach you through investing in the gambling games whereby they will rig the games so that you win every time thereby racking up a pool of funds up to 10k.
4. The difficulty comes when its time to withdraw your winnings back into your wallet, at first when you attempt it, you will be told that suspicious activity has been identified on your account and the only way to pass verification is to deposit $250 into your account
5. After you deposit the money, another hurdle is added whereby you will be asked to connect your wallet via adding your seed phrase of your wallet onto the a ‘secure’ part of the website. Experienced crypto traders will know that sharing your seed phrase with ANYONE is a major no no!
6. Of course, if you add the seed phrase onto the website all the funds from your wallet will be immediately drained from your account.
7. Some individuals have attempted to add the seed phrase for an empty wallet onto the website and are instructed by the website that you must have 5% of the investment pools balance already in your trust wallet…surprise surprise.. once you do this of course those funds are taken.
Please be cautious when you are contacted first by anyone on telegram, it appears these scammers are specifically targeting newbies in EllioTrades CryptoCrew Telegram and possibly others.
They delete and create new websites every couple of months under different names, previously it was Bitexbets.com and coinbeta.ltd. It is likely they will delete this website and create a new one again but I have tried to make this post as google-able as possible.