Is Afovert Legit or Another Scam? The Truth Revealed

Recently, Afovert.com website appeared, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable proof that clearly indicates it is, in fact, a scam service.

Despite the promises of the most convenient, reliable, and client-friendly service, Afovert.com does not follow any of them. In fact, all this is just a golden wrap around a blatant scam, which steals your funds and never returns them. Any stories about gifts, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Afovert Scam Overview

Originally, Afovert poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another notable marketing point for this site is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, frauds employ AI-generated videos with those celebs advertise the scam as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Afovert Scam

First and foremost, Afovert repeats the layout of numerous equivalent online platforms. There are quite a few examples, like Satochange, Rygexo or Bymex. They are completely indistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these scam sites are managed by a single gang of frauds.

Cryptocurrency Scam Summary

How the Afovert Scam Works?

Afovert is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use various website designs, which still share the similar overall layout. Another mutual element are the ways the scams like NAME are promoted, and the manner all this ends up to the victim of the scam. To reach peak efficiency, frauds apply sophisticated psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Using bots and paid advertisements (when achievable), scam actors boost the visibility of their scam activities to potential victims. And as I said, crooks do not disdain using generative AI for creating videos with the aforementioned celebs that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

Promotions of cryptoscams like Afovert in TikTok. Most of these videos are AI-generated deepfakes

Users obtain an incentive to register, attracted by the commitment of getting crypto benefits valued at hundreds of dollars, all for free. To increase the attractiveness of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, victims end up on a page filled with enticing offers. “Crypto starts with Afovert”, “Your crypto savings are secured with Afovert, “Start earning with Afovert – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that retrieving the promised bonus requires registration. And since nothing suspicious happens at this point, uninformed users happily move on – especially since the reward appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal data, rascals will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks for registration with bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Only by gathering this data and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, you cannot use the alleged bonus right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Obviously, any crypto purchases require having money on your account. With Afovert, users are also forced to top up to use the bonuses. And these top ups is what creates most of the cash flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the transferred capital and withdraw them.

This is where the issues start to surface. When comparing the actual cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have no intentions to send you money. Though to make the denial look more legitimate, they’ve elaborated a whole pack of reasons to decline the transfer-out request. Most of them repeat what Know Your Client guidelines say, but in this case they are here only to make the withdrawal impossible.

By requesting your personal information, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your money back. And every check will share more and more information, which – you guessed it right – will be then sold on the Darknet. Never reveal your real info to strangers!

Signs of Scam

I gathered several facts that point at the scammy nature of the Afovert.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Afovert often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Afovert.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Afovert raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Afovert.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Afovert preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Afovert as a scam.

What Should I do as a Victim?

If you had to deal with Afovert site and fell victim to that scam, there are still some steps to take. They will make further scam attempts harder, and also boost the knowledge about that scam among folks.

• Report the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

Scan your system for possible malware infections

Beware of cross scams! Scam actors can use your trust to make you download some stuff or interact with certain documents. It may be a trap that installs malware to your system. There are no moral barriers or limits for these scoundrels.

Throughout the timeline of the scam, fraudsters may contact you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we earlier determined, these rascals have no intent of returning your money. So, what do these emails and browser plugins represent? Correct – this is another element of the scam designed to throw you into willingly installing harmful programs onto your system.

Both extensions and attachments attached to email messages can act as a carrier for various malware. In this scenario, I expect the presence of spyware and stealers among other forms of threats. While it is not mandatory for scammers to distribute malware, the chance is always greater than zero. As previously mentioned, their conscience is of negligible importance, and their reputation is already neck deep in mud. They have no scruples to lose and aim to boost revenues.

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