Recently, Capitalwise-vest.com site popped up, promoting itself as a place to store cryptocurrency and other assets securely. I managed to gather credible supporting information that clearly reveals it is, in truth, a deceptive platform.
Despite the promises of the most user-friendly, trustworthy, and customer-centric service, Capitalwise-vest.com does not follow any of them. All this is just a shiny wrap around a dirty scam, which takes your funds and never gives them back. Any stories about bonuses, sponsorship from celebrities etc are absent as well.
Capitalwise-Vest Scam Overview
Originally, Capitalwise-Vest poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another bright selling point for this platform is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, con actors employ deepfake videos with those celebs promote the fake crypto service as the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.
Capitalwise-Vest Scam
To begin with, Capitalwise-Vest shares the appearance of numerous equivalent online platforms. There are quite a few examples, like Tradehotdeals, Usdtqqs or Blinktradingfx. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Most likely, all these fraudulent websites are operated by a single group of swindrels.
Cryptocurrency Scam Summary
| Website | Capitalwise-vest.com |
| Hosting | AS59253 Leaseweb Asia Pacific pte. ltd. Singapore, Singapore |
| IP Address | 23.106.53.56 |
| Threat Type | Scam/Fraud |
| Scam Type | Fraudulent offers of cryptocurrency services |
How the Capitalwise-Vest Scam Works?
Capitalwise-Vest is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the same overall layout. Another common 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 advanced psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.
Step 1: Promotion
To start the scam, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid ads (when possible), scam actors increase the exposure of their scam activities to possible victims. And as I said, scammers do not shy away using generative AI for creating videos with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.
Promotions of cryptoscams like Capitalwise-Vest in TikTok. Most of these videos are AI-generated deepfakes
Users get a stimulus to register, attracted by the commitment of receiving cryptocurrency prizes valued at thousands of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.
Step 2: Gaining Traffic
Upon clicking the ads, users end up on a page filled with enticing offers. “Crypto starts with Capitalwise-Vest”, “Your crypto savings are secured with Capitalwise-Vest, “Start earning with Capitalwise-Vest – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that getting the promised bonus requires registration. And as nothing suspicious happens at this point, unexperienced users happily proceed – especially since the bonus appears to be right behind the corner.
This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal data, crooks will not be able to earn even a penny from your presence on the website.
Step 3: Data Gathering
This is the starting poing of the main fraud action. As I just said, frauds bait folks for registration with bonuses. And all the personal data needed for it – username, email, crypto wallet address – are 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 claimed bonus right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.
Step 4: Requesting funds
It is obvious that any cryptocurrency operations require having capital on your account. With Capitalwise-Vest, users are also forced to top up to get the bonuses. And this is what creates the majority of the money flow to this scam site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the credited funds and withdraw them.
This, however, is where the first obvious issues start to surface. When comparing the actual crypto wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to pull out the money from your account, the scam is finally uncovered to the user.
Step 5: Escaping from Funds Withdrawal
There’s no need to explain that fraudsters are naught on intentions to give your money back. Though to make the fraud look more realistic, they’ve made up a whole pack of reasons to decline the withdrawal request. Most of them repeat what Know Your Client guidelines say, but in this case they are here exclusively to make the withdrawal impossible.
By requesting your personal information, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your money back. And each of these checks 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 Capitalwise-vest.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Absent company details. Capitalwise-Vest does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
- Fake sponsorship from a celebrity. Scams like Capitalwise-Vest like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Capitalwise-Vest, they do not care – this creates a halo of credibility.
- Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
- Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
- Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
- Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Capitalwise-Vest is a definite scam.
What Should I do as a Victim?
If you had to deal with Capitalwise-Vest 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
- Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
- Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
- Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
- Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further financial setbacks.
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, rascals may reach out to you with specific documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we previously figured out, these rascals have no intent of giving back your money. So, what do these messages and browser plugins represent? Correct – that is another component of the fraudulent scheme designed to entice you into deliberately installing destructive applications onto your system.
Both add-ons and files attached to emails can serve as a carrier for various malicious software. In this situation, I anticipate the presence of spyware and stealers among all types of threats. While it is not mandatory for scammers to distribute malware, the probability is always significant. As noted, their morality is of little concern, and their dignity is already deeply compromised. They have no scruples to give up and intend to boost revenues.
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Frequently asked questions
The vast majority of information posted on the Capitalwise-Vest site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.
No, there is no legitimate information on the Capitalwise-Vest site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.
Unfortunately, recovering funds lost to a scam like Capitalwise-Vest can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.
Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:
- Verify Regulation and Licensing. Before proceeding, ensure that the platform or service is regulated and possesses the necessary licenses from relevant authorities. Scammers often operate without proper authorization.
- Resist Urgency. Be cautious of tactics that create a false sense of urgency to pressure you into quick decisions. Legitimate investments provide ample time for research and consideration.
- Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
- Question Unrealistic Promises. Approach offers with unrealistically high returns or guaranteed profits skeptically. If an investment opportunity seems too good to be true, it probably is.
- Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.
If you have become a victim of a Capitalwise-Vest or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:
- Cease Communication. If you realize that you’ve been scammed, stop all communication with the scammers. Do not respond to their emails, messages, or calls.
- Document Everything. Gather and preserve all relevant information, including emails, screenshots, transaction records, and any communication you had with the scammers. This documentation will be crucial for reporting the scam and seeking assistance.
- Report to Authorities. File a report with your local law enforcement agency and any relevant regulatory authorities in your country. Provide them with all the evidence you have gathered. This helps initiate investigations and raises awareness about the scam.
- Contact Financial Institutions. If you made any payments or deposits using your credit card or bank account, contact your financial institution immediately. They may be able to help you with disputing transactions or initiating a chargeback.
- Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
- Notify Cryptocurrency Exchanges. If you used a cryptocurrency exchange to make transactions related to the scam, notify the exchange about the fraudulent activity. They may be able to assist you in some cases.
- Monitor Your Accounts. Keep a close eye on your financial and online accounts for any suspicious activity. Change passwords and enable two-factor authentication wherever possible.
The truth about Capitalwise-Vest
Name: Capitalwise-Vest
Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Capitalwise-Vest, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Capitalwise-Vest scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.
Operating System: All
Application Category: Crypto Scams
