The Cloverwin Scam – What You Need To Know

Recently, Cloverwin.pro service appeared, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather reliable proof that clearly reveals it is, actually, a fraudulent site.

Despite the promises of the most easy, dependable, and client-friendly service, Cloverwin.pro does not fulfill any of them. All this is just a golden wrap around a blatant scam, which takes your money and data and never returns them. Any tales about gifts, sponsorship from celebrities etc are non-existent as well.

Cloverwin Scam Overview

Originally, Cloverwin poses as a crypto trading & cryptowallet platform with remarkably low commission fees. Another notable selling point for this platform is backing from celebrities that are known in 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 use AI-generated videos where those celebrities advertise the fraud as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Cloverwin Scam

Initially, Cloverwin repeats the layout of numerous similar websites. There are quite a few examples, like Convix, Diamondjack or Gmb1l. They are totally identical in terms of visual elements, with minor discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these fraudulent online platforms are led by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Cloverwin Scam Works?

Cloverwin is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use numerous website designs, which still share the identical overall layout. Another shared 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 start the scam, criminals create and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Employing bots and sponsored ads (when achievable), scam actors boost the visibility of their fraudulent activities to potential victims. And as I said, fraudsters do not shy away using deepfake for creating videos with the mentioned 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 Cloverwin in TikTok. Most of these videos are AI-generated deepfakes

Users obtain an incentive to register, attracted by the promise of receiving crypto rewards valued at hundreds of dollars, all for free. To augment the attractiveness of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, targets end up on a page filled with appealing offers. “Crypto starts with Cloverwin”, “Your crypto savings are secured with Cloverwin, “Start earning with Cloverwin – they look rather reliable. To heat up the interest and make the users proceed to step 3, crooks say that obtaining the promised bonus requires registration. And since nothing concerning happens at this point, unexperienced users happily move on – especially since the reward appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you register using your personal data, frauds 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 said, frauds bait folks into registration to get bonuses. And all the personal data needed for it – username, email, crypto wallet address – is valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, fraudsters 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 crypto purchases, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency purchases require you to have money on your account. In the case of Cloverwin, users are also coerced to top up to use the bonuses. And these top ups is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the transferred money and withdraw them.

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

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels are naught on intentions to send you money. But to make the fraud look more realistic, they’ve crafted a whole pack of reasons to decline the withdrawal request. Most of them repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal info, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your grand 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 Cloverwin.pro. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Cloverwin.pro 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. Cloverwin 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. Cloverwin 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. Cloverwin 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%, Cloverwin capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Cloverwin.pro as a definite scam.

What Should I do as a Victim?

If you had to deal with Cloverwin 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 duration of the scam, its masters may contact you with particular files. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we already figured out, these scammers have no intent of returning your funds. So, what do these messages and browser extensions represent? Correct – this is another side of the fraudulent scheme designed to throw you into deliberately installing harmful software onto your device.

Both add-ons and attachments attached to email messages can act as a shell for different malware. In this scenario, I expect the presence of spyware and stealers among all kinds of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always above zero. As stated, their ethics is of negligible importance, and their reputation is already seriously marred. They have no scruples to lose and strive to boost revenues.

Frequently asked questions