Saxful Crypto Scam – Our Breakdown of This Crypto Con

Saxful.com is a bogus cryptocurrency trading platform that is being promoted by a sophisticated fraud through popular social networking sites. Utilizing fake video clips of famous celebrities such as Cristiano Ronaldo, and Elon Musk as a bait, fraudsters entice customers to deposit Bitcoin through the fake website by offering free crypto giveaways that are activated with specific promo codes. However, Saxful is a scam that aims to extort cash from those who are enticed by the false endorsements of celebrities and the too-good-to-be-true bonus.

Our investigation will reveal exactly how Saxful scam operates, and will provide strategies to prevent becoming a victim. Let’s get started!

Overview of the Saxful Bitcoin Promo Code Scam

Saxful.com is the most recent fake cryptocurrency trading platform that is being advertised through a sophisticated fake-faced scam on social networks. By using fake or voice-dubbed video fraudulent actors impersonate famous people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake to trick people to deposit Bitcoin.

The scam operates by disseminating false videos through YouTube, TikTok and Facebook. The videos in the video, celebrities with the deepest skin describe a unique Bitcoin giveaway opportunity, in conjunction with Saxful.com.

The site provides step-by-step directions for visitors to sign-up on the website and then enter promotional codes like “CR7” or “Tiktok11” to get free Bitcoin funds to their account.

The victims who use the codes following registration will see an account balance of 0.31 BTC added to their Saxful dashboard. But, when they attempt to withdraw these funds there is a warning that they have to deposit a minimum amount in the amount of 0.005 BTC to “activate” withdrawal options.

This requirement to deposit money tricks unwary users into making real Bitcoin payment which scammers promptly get. It is true that the Saxful platform and the rumored cryptocurrency giveaway by celebrities is not in fact existent.

The fake Saxful platform and the crypto giveaway are not real. It is a fake trading site that allows users to deposit money into scammers’ wallets. Once enough money is collected the website disappears, and the victims are left with no means to retrieve their money.

Through leveraging public trust in people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake The scammers give credibility to the idea that the viewers will get free Bitcoin. In the real world, it’s an elaborate scheme to steal crypto-based deposits.

How the Saxful Bitcoin Promo Code Scam Works

The perpetrators behind Saxful.com use a combination of convincing fake footage, psychological manipulators and technical tricks to commit the Saxful scam. Let’s take a closer look at the process step-by-step:

Step 1: Produce Fake Celebrity Endorsement Videos

The scammers employ artificial intelligence technology for video editing to create fakes that seem to show celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg or Drake supporting Saxful’s Bitcoin giveaway and the Saxful platform.

Two main techniques are employed:

Deepfake uses AI algorithms to instantly substitute the person’s face and voice with a higher level of authenticity that makes the videos appear authentic.

Voice dubbing – Recorded interviews and applies software that mimics voices to create the illusion that a person speaking is saying something they never actually said.

Both methods allow fraudsters to make convincing videos where celebrities seem to directly speaking to viewers and instructing them on how to earn gratis Bitcoin via Saxful.com.

Step 2: Distribute Deceptive Videos on Social Platforms

After being created, fake endorsement videos of celebrities are distributed widely on websites such as YouTube, TikTok, Instagram and Facebook using two primary strategies:

Paid advertisements – Fraudsters pay for videos that target users who are who are interested in investing in cryptocurrency, crypto or even the celebrities featured in the ads.

Hashtag campaigns Scammers make use of similar hashtags from celebrities or crypto to make their videos viral in the communities they target.

The wide distribution of the scam gives videos a better likelihood of obtaining potential victims.

Step 3: Direct Viewers to Saxful.com

The fake videos include links that take users to Saxful.com website. Although the site appears professional on first glance however, it’s actually a total fraud designed to take the money.

There is no actual cryptocurrency trading or exchange occurs. The platform and balances displayed are fabricated and manipulated.

Step 4: Instruct Viewers to Use Promo Code

Following the steps in the fake celebrity’s video The users visit Saxful.com and type in the promo code at the time of signing up like “CR7” or “TIktok11.”

By entering these codes, you can make the amount of 0.31 BTC to the user’s account dashboard. This makes it appear that the promo code has added the value of free Bitcoin to their account.

Step 5: Prevent Withdrawals Until Deposit

If users try to transfer those funds into another wallet an error message requires them to make an investment in the amount of 0.005 BTC to “activate” the withdrawal capability.

The trick is to lure victims into depositing real money into the fraudulent site, as if they were only completing identification verification.

Red Flags of the Saxful Scam

Beyond the obvious dubious notion of famous people offering bitcoin using YouTube promotional codes, Saxful has numerous evident signs of Saxful is a rip-off:

The company does not have an website footprint or any documentation aside of the promotional videos. The company’s official information is not available. Saxful is available.

The website doesn’t provide proof that can be verified that Bitcoin rewards for free have been distributed previously.

The celebrities featured have not confirmed the campaign. The videos use their illegal appearance.

Account activation that requires the deposit of bitcoin in advance is a big warning. There is no regulated trading platform that is like this.

Saxful is a domain name that was registered in the last few days. Saxful domain was recently registered and will soon be canceled. This isn’t the way legitimate companies operate.

There is no phone number, email address, or any other way to contact you is offered the contact form is all that’s provided.

Free bitcoin offers that seem too good to be true are not real. If the offer seems unbelievable the offer is probably a fraud.

With all the clear indications of fraud social media users must immediately stay clear of fake celebrity endorsements for the Saxful Bitcoin giveaway.

Frequently Asked Questions About the Saxful Bitcoin Promo Code Scam

1. How do I know if what exactly is Saxful Bitcoin promo coupon scam?

This is a risky scam that makes use of deceitfully edited videos of famous people to lure victims into making Bitcoin funds to a fake website for trading Saxful.com.

The scammers make video clips that include famous celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake supporting an Bitcoin giveaway deal in collaboration with Saxful.com.

In the video, the voice-dubbed or deepfaked stars provide an exclusive promo code for example “CR7” or “Tiktok11” that they claim their users can utilize on Saxful.com to get free Bitcoin funds to their account.

The truth is, Saxful.com does not actually permit any real-world transactions or trading. It’s a fraudulent platform created to steal and collect Bitcoin deposits from unwitting users who have been lured in by false video endorsements of celebrities.

2. Who are the celebrities who are often impersonated in fake videos?

The most frequently-used celebrities that are targeted in fraud videos are:

Cristiano Ronaldo

Elon Musk

Bill Gates

Mark Zuckerberg

Drake

The scammers choose the celebrities based on their mass popularity and trust in the public that gives an impression of authenticity to the phony Bitcoin giveaway. Celebrities’ popularity makes it more likely that the target will end up being sucked into the scam.

3. How do fake celebrity endorsement videos made?

The scammers use two principal strategies:

The latest deepfake artificial intelligence technology that instantly replaces the authentic persona and voice of the celebrity using an artificially created imitation that is created to appear and sound totally real and authentic.

Voice dubbing, which is the process of taking real interview footage of a celebrity and utilizes software for voice mimicry to make it appear as if they are speaking in a different way.

Both methods allow fraudsters to create convincing videos that accurately portray celebrities directly speaking to viewers, and also promoting the Bitcoin giveaway.

4. What and how do fraudsters promote their fraudulent videos?

After being created, fake videos were distributed across social media platforms like YouTube, Facebook, Instagram and TikTok using two primary strategies:

Paid video advertisements targeted to those interested in cryptocurrency trading and investing.

Hashtag campaigns that use similar terms such as #Bitcoin @ElonMusk, #CryptoGiveaway for more people.

The mass distribution of the videos through organic and paid channels allows the videos of scams to be watched by the most potential victims possible.

5. What happens if victims utilize the Saxful.com coupon code?

After being enticed by fake endorsements of celebrities, users visit Saxful.com and type in the promo code when they register for example “CR7” or “Tiktok11”.

By entering these codes, you can make the amount of 0.31 BTC to the user’s Saxful account dashboard. The idea is to fool users into thinking that the promo code was successful in adding free Bitcoin to the balance of their account.

In reality, there is there is no real Bitcoin is ever deposited. The balance is fake, and only designed to further deceive the people who are the victims. No trading occurs.