We Investigated Cevutar: Legit or Scam? The Facts

Recently, Cevutar.com site appeared, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather reliable proof that unmistakably indicates it is, in truth, a deceptive service.

Regardless of the promises of the most user-friendly, dependable, and client-friendly service, Cevutar.com does not offer any of them. In fact, all this is just a shiny wrap around a dirty scam, which takes your money and data and never gives them back. Any stories about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

Cevutar Scam Overview

Originally, Cevutar poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another highlighted selling point for this service is partnerships with celebrities that are known in the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, con actors use deepfake videos with those celebs promote the scam as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Cevutar Scam

Initially, Cevutar shares the appearance of numerous similar websites. There are quite a few examples, like Belforx, Venotur or Delunor. They are totally undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these fraudulent sites are operated by a single team of scoundrels.

Cryptocurrency Scam Summary

How the Cevutar Scam Works?

Cevutar is a part of a significant cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use various website designs, which still share the similar 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 complex psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals create and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign begins. Employing bots and paid ads (when achievable), fraud actors boost the presence of their deceptive activities to possible victims. And as I said, scammers do not disdain using deepfake 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 joins the service immediately.

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

Users get a stimulus to register, enticed by the commitment of receiving cryptocurrency rewards valued at hundreds of dollars, all free of charge. To increase the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Cevutar”, “Your crypto savings are secured with Cevutar, “Start earning with Cevutar – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that obtaining the pledged bonus requires registration. And as nothing questionable happens at this point, uninformed users happily keep on – 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 info, swindrels will not earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, scammers bait folks for registration with bonuses. And all the personal information needed for it – username, email, crypto wallet address – is valuable for user identification. Solely 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, the claimed bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Eventually, any crypto operations require you to have money on your account. In the case of Cevutar, users are also forced to top up to claim the bonuses. And these top ups is what creates most of the cash flow to this scam site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited money and withdraw them.

This is where the victim notices the problems. When keeping an eye on the real crypto wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that fraudsters have no intentions to return your money. But to make the fraud look more legitimate, they’ve developed a whole bunch of reasons to decline the wireout request. Most of them repeat what Know Your Client guidelines say, but for the Cevutar.com they are here exclusively to make the wireout impossible.

By asking for your personal info, 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 grand back. And each of these checks will share more and more info of yours, 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 Cevutar.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Cevutar.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. Cevutar arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. Cevutar resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. Cevutar employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, Cevutar capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Cevutar.com as a definite scam.

What Should I do as a Victim?

If you had to deal with Cevutar 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 duration of the fraud, its masters may reach out to you with particular documents. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we earlier determined, these rascals have no intention of restoring your funds. So, what can these messages and browser add-ons represent? You guessed it right – this is another element of the scam designed to throw you into willingly running destructive programs onto your system.

Both plugins and files added to email messages can function as a carrier for different malicious code. In this scenario, I anticipate the presence of spyware and stealers among all forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always above zero. As noted, their morality is of little concern, and their dignity is already severely tarnished. They have nothing to lose and intend to boost gains.

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