Gotexcoin.com is a bogus cryptocurrency trading site that is advertised through a complex scam through the social networks. By using fake videos of famous people such as Cristiano Ronaldo as well as Elon Musk. Scammers deceive customers to deposit Bitcoin on the fake website by offering free crypto giveaways that are activated through promotional codes. However, Gotexcoin only exists to extort cash from those who are enticed by shady celebrity endorsements and bonuses too good-to-be-true.
Overview of the Gotexcoin
Gotexcoin.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 videos or voice-dubbed ones fraudulent actors impersonate famous people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake to lure people to deposit Bitcoin.
The scam operates by disseminating false videos through YouTube, TikTok and Facebook. On the YouTube videos celebrity with the most sexy appearances describe a particular Bitcoin giveaway in collaboration with Gotexcoin.com.
They offer step-by-step instructions to visitors to sign-up on the website and input an promo code for example “CR7” or “Tiktok11” for the purpose of claiming free Bitcoin funds to their account.
Users who enter these codes after registering will see an amount of 0.31 BTC added to their Gotexcoin dashboard. But, when they attempt to withdraw the money there is a warning that they have to make an initial amount in the amount of 0.005 BTC to “activate” withdrawal options.
The requirement for deposits tricked unsuspecting users into making real Bitcoin transactions, which scammers then steal. This is because the Gotexcoin platform and a purported cryptocurrency giveaway by celebrities are not real.
The bogus Gotexcoin platform and the crypto giveaway are not real. It is an untrue trading front used that collects deposits into fake wallets of scammers. Once enough money is collected the website disappears, and victims don’t have a way to get their money back.
Through the use of the public’s trust in celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake The scammers give credibility to the claim that their viewers can get free Bitcoin. However, in actuality, it’s an elaborate fraud designed to extort crypto-based deposits.
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How the Gotexcoin Bitcoin Promo Code Scam Works
Criminals who are behind Gotexcoin.com rely on a mixture of convincing fake footage, psychological manipulators and technical ruses to carry out this Gotexcoin fraud. Let’s look in depth at the steps to follow:
Step 1: Produce Fake Celebrity Endorsement Videos
The scammers employ artificial intelligence technology for video editing to create fakes using deepfakes which seem to show celebrities like Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg or Drake supporting the Bitcoin giveaway as well as the Gotexcoin platform.
Two main techniques are employed:
Deepfake is a fake that uses AI algorithms to substitute the person’s face and voice, with a high quality of authenticity, making the videos appear authentic.
Voice dubbing – Recorded interviews and applies software to mimic the voice of a person to make it appear that the person speaking is saying something they never actually said.
Both methods allow fraudsters to make convincing videos in which the actors look like they are directly talking to viewers, instructing them on how to get free Bitcoin through Gotexcoin.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 advertisements – Fraudsters pay for video advertisements that target people who are interested in investing in cryptocurrency, crypto or even the celebrities featured in the ads.
Hashtag campaigns Scammers employ similar hashtags for celebrities and crypto to attempt to make the videos go 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 Gotexcoin.com
The fake videos contain hyperlinks that direct users to Gotexcoin.com website. While the website appears professional on first glance however, it’s actually a total scam designed solely to take deposits.
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 video, customers visit Gotexcoin.com and enter the promo code when signing up for example “CR7” or “TIktok11.”
By entering these codes, you can make an amount of 0.31 BTC to the user’s account dashboard. This makes it appear that the promo code has added a the value of free Bitcoin to their account balance.
Step 5: Steal Deposits and Disable Accounts
Once scammers have gathered enough genuine Bitcoin funds, they then shut down all accounts of users and then shut down the site. The money of the victims is taken.
The cycle repeats again as fraudsters create new websites, videos and accounts in order to attract new victims.
Through studying these tools, both psychological and technological consumers will be able to recognize and avoid scams with cryptocurrency disguised as celebrity endorsements. Offers that appear too promising to be real aren’t.
Frequently Asked Questions
1. What does what exactly is Gotexcoin Bitcoin promo coupon scam?
This is a risky scam that makes use of deceitfully edited videos of famous people to trick victims into making Bitcoin money to a fake trading site Gotexcoin.com.
The scammers make and release videos that appear to depict famous people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake signing an Bitcoin giveaway deal in conjunction with Gotexcoin.com.
In the videos, voice-dubbed or deepfaked celebrities offer a promo code that is unique for example “CR7” or “Tiktok11” They claim that viewers can apply on Gotexcoin.com to receive free Bitcoin funds to their account.
The problem is that Gotexcoin.com is not able to permit any real-time transactions or trading. It’s a fraudulent platform that was created solely to steal and collect Bitcoin deposits from innocent users who have been lured in by false endorsement videos of celebrities.
2. Who are the celebrities who are often impersonated in fake videos?
The most frequently-used celebrities used in the fraudulent videos are:
Cristiano Ronaldo
Elon Musk
Bill Gates
Mark Zuckerberg
Drake
The scammers pick these celebrities due to their massive popularity and trust in the public that gives an impression of legitimacy for the fraudulent Bitcoin giveaway. The fame of the celebrities makes it more likely that the target will end up being sucked into the scam.
3. What are the methods used to create fake celebrity endorsement videos made?
The fraudsters rely on two main strategies:
Deepfake technology that is advanced that effortlessly replaces the real-life persona and voice of the celebrity using fake imitations that is designed to look and sound totally real and authentic.
Voice dubbing that takes interview footage of the star and then uses software that mimics the voice to create the illusion that they are speaking in a different way.
Both methods allow fraudsters to create convincing videos that clearly 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 respread on social media platforms like YouTube, Facebook, Instagram and TikTok by using two strategies:
Paid video advertisements targeted to those interested in cryptocurrency trading and investing.
Hashtag campaigns that use related terms such as #Bitcoin @ElonMusk, #CryptoGiveaway for more people.
Mass distribution via organic and paid-for reach allows the fraudulent videos to be viewed by the most potential victims possible.
5. What happens when users use the Gotexcoin.com coupon code?
After being deceived by fake endorsements from celebrities the victims visit Gotexcoin.com and enter the promo code at the time of registration for example “CR7” or “Tiktok11”.
By entering these codes, you can make an amount of 0.31 BTC to the user’s Gotexcoin account’s dashboard. This is intended to trick users into believing that the promo code was successful in adding free Bitcoin to the account balance.
However, in reality, the actual Bitcoin is actually deposited. The balance is fake and is only intended to further deceive the users. No trading occurs.
6. What can I do if i’ve been swindled and have was ripped off in this fraud?
If you’ve made a deposit in Bitcoin and have lost the funds Take these steps immediately:
Contact your exchange or crypto wallet provider to report suspicious transactions.
Send complaints to your SEC, FTC, FBI and local authorities, describing the fraud.
Make sure to report the fake videos and accounts that spread the fake news on the social networks.
The alert cryptocurrency exchanges can identify and stop the fraudulent wallet addresses.
Make sure to spread awareness of the scam in order to stop further victims from becoming.
Beware of recovery fraudsters who try to contact you with offers to recover the stolen funds and, in most cases, cause further loss.
7. What is the reason scammers are focused on celebrity cryptocurrency advertisements to commit fraud?
The fraudsters profit from public interest and the hype surrounding cryptocurrency’s profits. Famous people such as Elon Musk have also earned a reputation as a visionary in the field of crypto that add credibility.
Impersonating celebrities who endorse the lucrative cryptocurrency giveaway, scammers trick users into sending money to their fake website, believing they’re raking in lucrative profits.
The Bottom Line
The Gotexcoin scam offers a crucial lesson in protecting your crypto and thinking about prior to sending money anywhere:
Examine endorsements of celebrities – Check celebrity crypto advertisements prior to deciding. Verify legitimacy by contacting official channels.
Investigate trading platforms. Check every exchange, and search for reviews, certifications, or licenses before registering an account.
Beware of “free crypto” – Genuine platforms will not offer Bitcoin or provide bonuses in exchange for signing up.
Don’t allow withdrawals using deposits. No legitimate website will require users to deposit funds before withdrawing balances from accounts.
Report suspicious activity. Inform authorities of possible frauds, and help bring criminals to justice.
Be on the lookout for similar scams using celebrities as models and exploiting the excitement about cryptocurrency. Inform your friends about these fraudulent methods to guard your fellow citizens from scammers who are stealing their money.
