SnapeDex.com is a bogus cryptocurrency trading platform that is being promoted by a complex fraud through the social networks. Utilizing fake videos of celebrities such as Cristiano Ronaldo as well as Elon Musk. The scammers deceive customers into putting down Bitcoin through the fake website by promising free cryptocurrency giveaways that are activated with specific promo codes. However, SnapeDex is a scam that aims to steal the money of those enticed by the false celebrity endorsements and too good-to-be-true bonus offers.
Overview of the SnapeDex Bitcoin Promo Code Scam
SnapeDex.com is the most recent fake cryptocurrency trading site being promoted by a slick fraud featuring celebrities on social media. Utilizing 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 make deposits on Bitcoin.
The scam is carried out by spreading false videos through YouTube, TikTok and Facebook. The videos in the video, stars who are sexy talk about a particular Bitcoin giveaway in conjunction with SnapeDex.com.
The site provides step-by-step directions for users to sign up on the website and then enter an promo code for example “CR7” or “Tiktok11” to get free Bitcoin funds to their account.
Users who enter these codes after registering will see a balance of 0.31 BTC added to their SnapeDex dashboard. However, when trying to withdraw the money there is a warning that says they need to first make an initial amount in the amount of 0.005 BTC to “activate” withdrawal options.
The requirement for deposit tricks unwary users into making real Bitcoin payment, which the fraudsters then steal. It is true that the SnapeDex platform and the rumored popular crypto giveaways are not real.
The fraud SnapeDex platform and cryptocurrency giveaway are not real. It is a fake trading front that collects deposits to the wallets of scammers. After the site has accumulated enough funds the site goes down and the victims are left with no means to retrieve their money.
Through the use of the public’s trust in people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake Scammers add credibility to the idea that their viewers can make money on Bitcoin. However, in the real world, it’s an elaborate fraud designed to extort crypto-based deposits.
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How the SnapeDex Bitcoin Promo Code Scam Works
The perpetrators behind SnapeDex.com use a combination of convincing fake video clips, manipulation of the mind and technical ruses to carry out the SnapeDex scam. Let’s take a closer look at the steps to follow:
Step 1: Produce Fake Celebrity Endorsement Videos
The fraudsters employ artificial intelligence-based video editing to create fakes that seem to show celebrities like Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg or Drake supporting the Bitcoin giveaway as well as the SnapeDex platform.
Deepfake uses AI algorithms to instantly replace the face of the celebrity and voice with a higher level of authenticity that makes the videos appear 100% 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 celebrities appear to be directly speaking to viewers and instructing them on how they can get free Bitcoin through SnapeDex.com.
Step 2: Distribute Deceptive Videos on Social Platforms
After being created, fake endorsement videos of celebrities are widely shared on sites such as YouTube, TikTok, Instagram and Facebook using two primary strategies:
Paid ads – Fraudsters purchase videos that target people 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 attempt to make the videos go viral within the communities they target.
A wide-spread distribution means that scam videos a better likelihood of getting to potential victims.
Step 3: Direct Viewers to SnapeDex.com
The fake videos include links that take visitors to SnapeDex.com website. Although the website looks professional from the first look but it’s a complete scam designed to take money.
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
In accordance with the instructions in the fake celebrity’s video, visitors go to SnapeDex.com and type in the promo code at the time of signing up like “CR7” or “TIktok11.”
The code you enter will add an amount of 0.31 BTC to the user’s account dashboard, which makes it appear that the promo code has added free Bitcoin to their account.
Step 5: Prevent Withdrawals Until Deposit
If users try to transfer those funds into the external account, they receive a message that says they need to first make an initial payment that is 0.005 BTC to “activate” the withdrawal capability.
The trick is to lure users into depositing real cryptocurrency to the fraudulent site believing that they are merely completing identification verification.
Frequently Asked Questions
1. What exactly is the real purpose of SnapeDex Bitcoin promo code scam?
This is a risky scam that makes use of deceitfully edited videos of famous people to trick victims into making Bitcoin funds to a fake trading site SnapeDex.com.
The scammers make and release videos which depict famous people such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake signing an Bitcoin giveaway in conjunction with SnapeDex.com.
The videos show deepfaked or voice-dubbed stars provide unique promo codes for example “CR7” or “Tiktok11” and claim that viewers can apply on SnapeDex.com to receive free Bitcoin money in their accounts.
But, SnapeDex.com doesn’t actually permit any actual financial transactions or trading. It’s a fake platform that was created solely to gather and steal Bitcoin deposits from innocent customers who are lured by fraudulent advertisements of celebrities.
2. Which celebrities are most often impersonated in scam video?
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 legitimacy in the false Bitcoin giveaway. Celebrities’ popularity can increase the chances of victims falling for the scam.
3. What is the process by which fake endorsement videos of celebrities created?
The scammers use two main strategies:
Deepfake technology that is advanced that instantly replaces the authentic voice and face of a celebrity with an artificially created imitation that is that is designed to look and sound authentic and authentic.
Voice dubbing, which is the process of taking real interviews of the famous and then uses software that mimics the voice to make it appear as if they are speaking in a different manner.
Both strategies allow fraudsters to create convincing videos that accurately portray celebrities directly addressing viewers and promoting their Bitcoin giveaway.
4. What and how do scammers advertise their fake videos?
After being created, fake videos were then distributed to social media platforms such as YouTube, Facebook, Instagram and TikTok using two primary strategies:
Paid-for video advertisements targeted at people who are interested in trading cryptocurrency and investing.
Hashtag campaigns utilizing related terms such as #Bitcoin the #ElonMusk hashtag, and #CryptoGiveaway are used more people.
The widespread distribution via organic and paid-for reach allows the fraudulent videos to be watched by the most potential victims possible.
5. What happens when customers use the SnapeDex.com coupon code?
After being deceived by fake endorsements of celebrities users visit SnapeDex.com and type in 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 SnapeDex account dashboard. This is designed to trick users into thinking that the promo code has successfully added free Bitcoin to the balance of their account.
However, in reality, the actual Bitcoin is actually deposited. The balance is totally fake, and only designed to further deceive the people who are the victims. No trading occurs.
6. How can I make sure that I don’t become one of the victims from the SnapeDex Bitcoin promo code scam?
Here are some ways to stay clear of this scam involving cryptocurrency:
Make sure you verify endorsements by celebrities via official channels prior to believing or acting upon the endorsements of celebrities.
Research thoroughly any platform for trading you are considering, including reviews, certifications, as well as licenses.
Don’t make a crypto-deposit solely for the purpose of allowing withdrawal of your account balance. This is a major red signal.
Do not accept any giveaways or offers that promise significant return or free cryptocurrency in exchange to sign up.
Install strong security safeguards on every account you use for crypto exchange.
Report suspicious videos, accounts, or websites promoting celebrity cryptocurrency endorsements.
7. What is the reason scammers are focused on celebrity cryptocurrency marketing to commit fraud?
The fraudsters profit from public interest and media hype about cryptocurrency’s potential profit margins. Famous personalities such as Elon Musk are also known as visionaries in the cryptocurrency area, which increases their credibility.
Impersonating celebrities who endorse an enticing crypto giveaway, scammers lure users into sending money to their fraudulent website, believing that they will earn earnings.
8. Are the fake videos of celebrities that were created to promote this scam legal?
No. Consensual or non-consensual usage of celebrity likenesses and intellectual property with no permissions is unlawful in accordance with FTC regulations. Regulators are still having difficulty to enforce laws due to the widespread distribution of fakes online.
The Bottom Line
The SnapeDex scam is an important lesson in protecting your cryptocurrency and analyzing before making payments to anyone:
Examine endorsements of celebrities – Check celebrity crypto-related advertisements before taking action. Check for legitimacy using official channels.
Explore trading platforms and verify every exchange, and search for reviews, certifications, or licenses prior to opening 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. There is no legitimate site that will require users to deposit funds prior to withdrawing balances from their accounts.
Report suspicious activity. Notify authorities of potential frauds and assist in bringing scammers to justice.
Be aware of similar scams that impersonate celebrities and exploit the excitement about cryptocurrency. Inform your friends about these fraudulent methods to guard your fellow citizens from scammers who are stealing their money.
