Gotexcoin.com is a bogus cryptocurrency trading platform that is being advertised through a complex scam through popular social networking sites. By using fake videos of famous people such as Cristiano Ronaldo as well as Elon Musk. The scammers entice customers to deposit Bitcoin on the fake website by offering free crypto giveaways which are activated with promotional codes. However, Gotexcoin is a scam that aims to steal the money of those who have been lured by shady celebrity endorsements and bonuses that are too good to be true.
Overview of the Gotexcoin
Gotexcoin.com is the most recent fake cryptocurrency trading site being advertised through a sophisticated fake-faced scam on social networks. Utilizing fake or voice-dubbed video scammers impersonate celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake to lure people to deposit Bitcoin.
The scam is carried out by spreading fraudulent videos on YouTube, TikTok and Facebook. On the YouTube videos stars with the deepest skin describe a unique Bitcoin giveaway in collaboration with Gotexcoin.com.
The site provides step-by-step directions for users to sign up on the website and input promotional codes like “CR7” or “Tiktok11” for the purpose of claiming free Bitcoin money in their account.
Users who enter the codes following registration will see an amount of 0.31 BTC added to their Gotexcoin dashboard. But, when they attempt to withdraw these funds the message will tell them that they have to make the minimum payment in the amount of 0.005 BTC to “activate” withdrawal options.
This requirement to deposit money tricks unwary users into sending genuine Bitcoin transactions, which scammers then steal. It is true that the Gotexcoin platform and the rumored popular crypto giveaways is not in fact existent.
The bogus Gotexcoin platform and the crypto giveaways aren’t real. It’s an unauthentic trading front that is used that collects deposits into fraudulent wallets. Once enough money is collected the website disappears, and the victims are left with no means to retrieve their money.
Through leveraging the public’s trust in celebrities such as Cristiano Ronaldo Elon Musk Bill Gates, Mark Zuckerberg and Drake Scammers add credibility to the claim that the viewers will get free Bitcoin. 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 depend on a mix of convincing fake video clips, manipulation of the mind and technical ruses to carry out fraud with the Gotexcoin fraud. Let’s look in depth at the steps to follow:
Step 1: Produce Fake Celebrity Endorsement Videos
The scammers 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 Gotexcoin platform.
Two principal 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 100% authentic.
Voice dubbing – Recorded interviews and applies software to mimic the voice of a person to make it appear that the famous person is saying things they didn’t actually say.
Both strategies allow scammers to create convincing video in which the actors seem to directly speaking to the viewers, and instructing them on how to acquire 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 ads – Fraudsters purchase 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 attempt to make the videos go viral within these communities.
A wide-spread distribution means that scam videos a greater probability of getting to potential victims.
Step 3: Direct Viewers to Gotexcoin.com
The fake videos contain links that take visitors 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 is taking place. The platform and balances displayed are fabricated and manipulated.
Step 4: Instruct Viewers to Use Promo Code
Following the steps in the fake video, visitors visit Gotexcoin.com and enter the promo code at the time of signing up for example “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 as if the promo code has added no cost Bitcoin to their account balance.
Step 5: Steal Deposits and Disable Accounts
After the scammers have accumulated enough genuine Bitcoin deposit, the scammers then shut down all accounts of users and then shut down the site. The money of the victims is taken.
The cycle continues as fraudsters create new websites, videos, and accounts to entice new victims.
Through studying these techniques, both technical and psychological consumers will be able to recognize and stay clear of scams in cryptocurrency giveaways that are backed by fake endorsements from celebrities. Offers that appear too promising to be real aren’t.
Frequently Asked Questions
1. What does this 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 create and distribute videos that include famous celebrities 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, deepfaked or voice-dubbed stars provide an exclusive promo code like “CR7” or “Tiktok11” that they claim their viewers can apply on Gotexcoin.com to get free Bitcoin funds to their account.
But, Gotexcoin.com is not able to allow any genuine transactions or trading. It’s a scam platform created to steal and collect Bitcoin deposits from unwitting customers who are lured by fraudulent endorsement videos of celebrities.
2. Who are the celebrities who are often impersonated in fraudulent videos?
The most popular celebrities that are targeted in fraudulent videos are:
Cristiano Ronaldo
Elon Musk
Bill Gates
Mark Zuckerberg
Drake
The scammers choose the celebrities based on their mass acceptance and public trust that gives an impression of legitimacy for the fraudulent Bitcoin giveaway. The fame of the celebrities can increase the chances 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 using an artificially created imitation that is created to appear and sound totally real and authentic.
Voice dubbing that takes interview footage of the star and then uses software that mimics the voice to make it appear as if they are speaking differently.
Both strategies 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?
Once they were 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 utilizing 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 viewed by the most potential victims possible.
5. What happens if victims utilize the Gotexcoin.com coupon code?
After being enticed by fake endorsements of celebrities the victims visit Gotexcoin.com and enter the promo code at the time of registration for example “CR7” or “Tiktok11”.
The code you enter will add an amount of 0.31 BTC to the user’s Gotexcoin account’s dashboard. This is intended to trick the user into thinking that the promo code was successful in adding free Bitcoin to the account balance.
However, in reality, the actual Bitcoin is ever deposited. The balance is totally fake and is only intended to manipulate users. No trading occurs.
6. What can I do if i’ve was swindled and made a loss in this fraud?
If you’ve made a deposit in Bitcoin and have lost the funds You must immediately follow these steps:
Contact your cryptocurrency wallet provider or exchange to report any unauthorized transactions.
Make 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.
Contact cryptocurrency exchanges for alerts to detect and stop the fraudster’s wallet addresses.
Make sure to spread awareness of the scam in order to stop additional victims from becoming.
Beware of recovery scammers who call you and offer to return the stolen cash and, in most cases, cause additional loss.
7. What is the reason scammers are focused on celebrity cryptocurrency advertisements to perpetrate this scam?
The fraudsters profit from public interest and the hype about cryptocurrency’s gains. Famous people such as Elon Musk have also earned a reputation as a visionary in the cryptocurrency space and this adds credibility.
Impersonating celebrities who endorse the lucrative cryptocurrency giveaway, scammers trick users into sending money to their fake website, believing they’re making a profit.
The Bottom Line
The Gotexcoin scam offers a crucial lesson on how to protect your crypto and thinking about 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, certificates, and licenses before registering an account.
Beware of “free crypto” – Genuine platforms don’t give away Bitcoin or offer bonuses just to sign up.
Do not allow withdrawals through deposits. There is no legitimate website that requires users to deposit money before withdrawing balances from accounts.
Report suspicious activity. Inform authorities of any possible frauds and assist in bringing fraudsters to justice.
Be on the lookout for similar scams that impersonate celebrities and exploitation of the hype surrounding cryptocurrency. Inform your friends about these fraudulent strategies to safeguard your family and friends from scammers.
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