Xraize.com is an untrue cryptocurrency trading platform that is being promoted by a complex fraud through the social networks. By using fake videos of famous people such as Cristiano Ronaldo as well as Elon Musk. The scammers entice customers to pay Bitcoin on the fake website by promising free cryptocurrency giveaways, which are activated through specific promo codes. However, Xraize is a scam that aims to extort cash from those who are enticed by the false celebrity endorsements and promises that are too good to be true.
Overview of the Xraize Bitcoin Promo Code Scam
Xraize.com is the most recent fake cryptocurrency trading site being promoted via a slick fraud featuring celebrities on social media. By using fake or voice-dubbed video scammers impersonate celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake to trick people to make deposits on Bitcoin.
The scam is carried out by spreading fraudulent videos on YouTube, TikTok and Facebook. The videos in the video, deep-faced celebrities talk about a unique Bitcoin giveaway opportunity, in conjunction with Xraize.com.
Users who use these codes after registering will see a balance of 0.31 BTC added to their Xraize dashboard. But, when they attempt to withdraw the money there is a warning that states they need to first make an initial payment that is 0.005 BTC to “activate” withdrawal options.
This requirement for deposits tricked unwary users into making real Bitcoin transactions, which scammers then steal. This Xraize platform and the purported famous crypto giveaways is not in fact existent.
The fake Xraize platform and the crypto giveaway are not real. The website is a fraudulent trading front that collects deposits into scammers’ wallets. After the site has accumulated enough funds the website disappears, and the victims are left with no means to get their money back.
By gaining public trust through people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake The scammers give credibility to the claim that the viewers will make money on Bitcoin. In actuality, it’s an elaborate scheme to extort crypto-based deposits.
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How the Xraize Bitcoin Promo Code Scam Works
The perpetrators behind Xraize.com use a combination of convincing fake video clips, manipulation of the mind and technical tricks to commit this Xraize fraud. Let’s take a closer look at the process step-by-step:
Step 1: Produce Fake Celebrity Endorsement Videos
The fraudsters employ artificial intelligence-based video editing to create fakes using deepfakes which look like they show celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg or Drake supporting the Bitcoin giveaway and the Xraize platform.
Deepfake uses AI algorithms to instantly replace the face of the celebrity and voice, with a high quality of realism, making the videos appear 100% authentic.
Voice dubbing – Takes actual interview footage and then uses software to mimic the voice of a person to make it appear that the person speaking is saying something they never actually said.
Both strategies allow fraudsters to make convincing videos where celebrities appear directly speaking to viewers and telling them how to get the free Bitcoin through Xraize.com.
Step 2: Distribute Deceptive Videos on Social Platforms
After being created, fake endorsement videos of celebrities are subsequently distributed across sites such as YouTube, TikTok, Instagram and Facebook using two primary strategies:
Paid ads – Fraudsters purchase video advertisements that target people interested in investing in cryptocurrency or even the celebrities featured in the ads.
Hashtag campaigns Scammers employ similar hashtags for celebrities and crypto to attempt to make the videos viral within the communities they target.
A wide-spread distribution means that scam videos a greater likelihood of being seen by potential victims.
Step 3: Direct Viewers to Xraize.com
The fake videos contain hyperlinks to take visitors to Xraize.com website. Although the website appears professional from the first look but it’s a complete scam designed to make deposits.
The actual trading of cryptocurrency or exchange occurs. The balances and platform shown are faked and elaborately designed.
Step 4: Instruct Viewers to Use Promo Code
Following the steps in the fake celebrity’s video, visitors visit Xraize.com and enter the promo code when signing up for example “CR7” or “TIktok11.”
The code you enter will add the amount of 0.31 BTC to the user’s account dashboard, which makes it appear that the promo code has added no cost Bitcoin to their account.
Step 5: Prevent Withdrawals Until Deposit
If users try to transfer funds from their external wallet, they receive a message that says they need to first deposit 0.005 BTC to “activate” the withdrawal capability.
The trick is to lure victims into depositing real money into the fraudulent website, believing they’re merely completing identification verification.
Frequently Asked Questions
1. How can I tell if the Xraize Bitcoin promotion code fraud?
This is a serious cryptocurrency scam that employs deceitfully edited videos of famous people to lure victims into making Bitcoin funds to a fake website for trading Xraize.com.
The scammers create videos and then distribute them to the public. The scammers make sure that they include famous celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake signing an Bitcoin giveaway in conjunction with Xraize.com.
In the videos, celebrities who are voicedubbed or deepfaked provide a promo code that is unique like “CR7” or “Tiktok11” that they claim users are able to use on Xraize.com to get free Bitcoin funds to their account.
The problem is that Xraize.com doesn’t actually allow any genuine transactions or trading. It’s a scam platform that was created solely to steal and collect Bitcoin deposits from innocent customers who are lured by fraudulent video endorsements of celebrities.
2. Who are the celebrities who are often impersonated in scam videos?
The most frequently-used celebrities that are targeted in fraud videos are:
Cristiano Ronaldo
Elon Musk
Bill Gates
Mark Zuckerberg
Drake
The scammers pick these celebrities due to their massive acceptance and public trust that gives an impression of authenticity for the fraudulent Bitcoin giveaway. Celebrities’ fame raises the chance of victims being sucked into the scam.
3. What is the process by which fake celebrity endorsement videos made?
The scammers use two principal strategies:
The latest deepfake artificial intelligence technology that effortlessly replaces the real-life persona and voice of the celebrity by creating a fake imitation that is designed to look and sound authentic and real.
Voice dubbing, which is the process of taking real interviews of a celebrity and then uses software that mimics the voice to make it appear as if they are saying something completely different.
Both methods allow scammers to make convincing videos that clearly portray celebrities directly addressing viewers, and also promoting the Bitcoin giveaway.
4. How and where do fraudsters promote their fake videos?
After being created, fake videos were distributed across social media platforms such as YouTube, Facebook, Instagram and TikTok using two primary strategies:
Paid-for video advertisements targeted at those who are who are interested in cryptocurrency trading and investing.
Hashtag campaigns utilizing similar terms such as #Bitcoin the #CryptoGiveaway hashtag to reach more people.
The mass distribution of the videos through organic and paid-for reach allows the videos of scams to be watched by many potential victims as possible.
5. What happens if victims utilize the Xraize.com promo coupon?
After being enticed by fake endorsements of celebrities, people visit Xraize.com and enter the promo code when they register for example “CR7” or “Tiktok11”.
By entering these codes, you can make an amount of 0.31 BTC to the user’s Xraize account dashboard. The idea is to fool users into thinking that the promo code has successfully added free Bitcoin to the account balance.
However, in reality, there is no real Bitcoin is ever deposited. The balance is fake designed to manipulate the people who are the victims. No trading occurs.
6. What are the methods by which criminals behind this scheme ultimately extort the money of the victims?
If a target attempts to transfer this false 0.31 BTC balance to an external cryptocurrency wallet, they see a message telling them to first verify their account by submitting a minimum amount in the amount of 0.005 BTC.
It tricked victims who were not aware to transfer real Bitcoin money to the fraudulent site, believing that the money is needed to prove their identity.
In reality it is true that the “verification deposit” goes straight into the bank accounts of scammers. When enough genuine deposits have been gathered by victims, the website is shut down and accounts are blocked.
7. What can I do if i’ve was swindled and was ripped off in this fraud?
If you’ve made a deposit in Bitcoin and then lost your money Take these steps immediately:
Contact your cryptocurrency wallet provider or exchange to report any unauthorized transactions.
Send complaints to authorities like the SEC, FTC, FBI and local authorities, describing the fraud.
Make sure to report the fake videos and accounts that spread the fake news on various social platforms.
The alert cryptocurrency exchanges can identify and stop the fraudulent wallet addresses.
Inform people about the scam to avoid additional victims from becoming.
Be wary of fraudsters who try to contact you with offers to return the stolen cash that usually results in further loss.
8. What is the reason scammers are focused on celebrity cryptocurrency marketing to perpetrate this scam?
The scammers profit from the public’s fascination and the hype surrounding cryptocurrency’s profit margins. Famous personalities such as Elon Musk are also known as thought leaders in the crypto area, which increases their credibility.
In a fake appearance, celebrities endorse an enticing crypto giveaway, scammers lure users into sending money to their fake website, believing they’re generating earnings.
The Bottom Line
The Xraize scam is a timely lesson in protecting your cryptocurrency and thinking carefully prior to sending any payments:
Check endorsements and scrutinize celebrities’ crypto-related advertisements before taking action. Verify legitimacy by contacting official channels.
Investigate trading platforms. Check any exchange and check for reviews, certifications, or licenses prior to opening an account.
Beware of “free crypto” – Genuine platforms don’t give away Bitcoin or provide bonuses to sign up.
Do not allow withdrawals through deposits. There is no legitimate site that requires users to deposit money prior to withdrawing balances.
Report suspicious activity. Inform authorities of potential frauds and assist in bringing scammers to justice.
Be on the lookout for similar scams using celebrities as models and exploiting the excitement about cryptocurrency. Be aware of these deceitful strategies to safeguard your fellow citizens from scammers who are stealing their money.
