RabexBit.com Review – Schemers Introduce Quirks To The Same Old Con

While many of the recently emerging crypto scams are nearly identical, some of them still introduce slight changes to appear different from others. They are still built from the same website template, however, which makes them somewhat easy to spot when you know what you’re looking for.

That said, people who are not already familiar with RabexBit.com crypto fraud can easily find themselves deceived by these con artists. Find out more about online safety in our RabexBit review.

Zero Legitimacy

Crypto providers that share none of their corporate details can definitely not be regarded as trustworthy. This anonymous virtual asset service provider shares that they operate from the jurisdiction of Malta, but only in their legal docs. This has prompted us to look through the MFSA register, which showed no results. 

Furthermore, in the website footer, it says that they operate under MSB license, but the MSB/FINCEN register contains no firm under that name. The last option was to look through the other registers like BaFin, CySEC, FINMA and CNMV, but that also brought back zero matches.

This company could be an entirely made-up construct and is actually not even registered anywhere. So choose better alternatives to ensure proper funds safety. In reality, caution should always be practiced, even with firms that don’t need regulation by law, like Alpha Capital, for example.

Crypto Airdrops Used As Bait

These con sites we’re discussing were all launched at about the same time, dating to October 2023. More information about the domain registry is available on WhoIs, but we’ve gone a step further to see from where the site is most commonly accessed:

• Serbia
• Poland
• Italy
• United Kingdom

The deceptive strategy revolves around presenting misleading advertisements on online social media. In a campaign that addresses the young investors, scammers post DeepFakes of celebrities, who allegedly give away free cryptos to those that register the account.

To receive these free airdrops, new users first have to invest a certain amount, and this is how they get you. All of the cash goes straight to the con artists’ pockets, and recovering it is a job for a seasoned professional.

Shady Fee Policy 

You can easily recognize a swindler when you’re faced with their prices and payment requirements. The thing with this crypto portal is that they do have a page explaining the fees, but only partially, considering that no Maker/Taker fees are included in the table.

Every withdrawal is charged with a fixed fee that depends on the currency. In the case of Bitcoin, the payout fee is 0.0001 BTC and deposits are allegedly not charged. That’s what the site says, but the T&C doc has more to add to that.

There’s also a so-called internal fee. The internal Payward fee is an additional 1% (all deposits), 1.5% (all transfers), and 2.5% (all insurances if required). Lastly, withdrawals may be taxed at 18% in case your account is not a premium one and is active less than a month.

40% Rebates

By inviting a friend/colleague/family member to the platform, you could allegedly get rewarded with 40% rebates. Almost every of these shams offers passive income through affiliate programmes. However, nothing guarantees the reward will come. You’re just doing their dirty work for them and bringing in more victims.

Barebone Trading Features

All that you can see on the website merely serves to further deceive the investors. The trading platform is ramshackle, and the selection of listed coins is extremely limited. Nothing is done to diversify the investment opportunities, while the users are urged to use other faux platforms to buy cryptocurrencies.

Limited Trading Functionality

Speculating on the spot market is done through a Web Trader which constantly pesters users to activate a promo code every minute or so. Supported functions only include Buy and Sell orders, and asset selection.

There’s basically no advanced functionality, and the charts we found in the software do not match the actual market prices. Exchanging one type of crypto to another is done through the website as well, with the same tailored prices which will make you lose money on each transaction.

If you’re looking to buy crypto coins, however, you will be directed to external services. These are all as shady as the RabexBit.com scam.

Supported Crypto Instruments

The RabexBit.com exchange offers a semblance of online trading in an effort to mimic regulated firms like Radex Markets.

The coin listing is quite slim, as only the most popular assets are covered. These include BTC, ETH, XRP and TRX. The swindlers have cherry picked some valuable tokens as well, including LAZIO, ATM and ASR.

Fake Hype Around VIP Accounts

Joining the platform itself is no trouble. Activating the services, features and tools is a bit of a pain, however. Deposit info also differs. One part of the site says 0.002649 BTC, the user area says 0.004502 BTC.

That’s where you’re convinced to buy a RabetBit.com account with a VIP status. All accounts that are less than 1 month active or have not conducted a total turnover of 0.31 BTC need a VIP profile to access withdrawal options. The alleged benefits of this account are account manager, free signals and exclusive phone support, which is what all criminals of this type usually promote. 

Never Occurring Withdrawals

All of the obstacles we’ve talked about are potential excuses that fraudsters use in order to prevent you from withdrawing a single penny. It’s just how these miscreants earn. So, of course they will come up with more taxes and commissions to lower your account balance to zero and act like you have nothing to withdraw.

Lastly, we have to mention the risks of conducting crypto transactions, which are somewhat faster, but utterly unreliable. All suspicious companies use them to hide from the law and legal consequences. 

Online Chat Bot

The entirety of the RabexBit.com support consists of an online chat widget. No other way to get in touch with customer service exists. There’s no phones, emails, online forms or callback options. Instead, you can message the bot and they’ll offer already prepared answers that they process as most corresponding to your questions. 

Lost Crypto On A Scam? Book A Consultation!

RabexBit.com crypto exchange is a fraudulent website that preys on cryptocurrency market newcomers. The fraud employs various deceptive strategies to lure and entrap their victims. Unfortunately, nothing on the site is ever done in a legal matter, and the company has a set of difficult requirements that block any payout attempts.

If you’ve already caught yourself in this trap, there is a way out! Book a consultation with our legal experts via the live chat, and start working on getting your money back.

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