The Cryptonov Scam – What You Need To Know

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

Despite the promises of the most convenient, reliable, and customer-centric service, Cryptonov.com does not follow any of them. All this is just a gilded wrap around a dirty scam, which steals your money and never gives them back. Any tales about gifts, backing from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Cryptonov Scam Overview

Originally, Cryptonov poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another notable selling point for this service is backing from celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, rascals use deepfake videos where those celebrities advertise the scam as the best thing in the world. Obviously, 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.

Cryptonov Scam

To begin with, Cryptonov repeats the layout of numerous equivalent online platforms. There are quite a few examples, like Cocacocausdt, Clskbtcminer or Legitdogemining. They are entirely undistinguishable in terms of graphic elements, with slight discrepancies in the website header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these scam sites are led by a single team of scammers.

Cryptocurrency Scam Summary

How the Cryptonov Scam Works?

Cryptonov is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several website designs, which still share the identical 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 advanced 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 primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and sponsored promotions (when feasible), scam actors boost the exposure of their fraudulent activities to potential victims. And as I said, crooks do not disdain using generative AI for creating clips with the mentioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users get a stimulus to enroll, drawn by the commitment of obtaining crypto benefits valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After following the promos, targets end up on a page filled with attractive offers. “Crypto starts with Cryptonov”, “Your crypto savings are secured with Cryptonov, “Start earning with Cryptonov – they look rather credible. To heat up the interest and make the users proceed to step 3, crooks say that obtaining the pledged bonus requires registration. And since nothing suspicious happens at this point, unaware users happily proceed – especially as the gift appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you sign up using your personal info, frauds will not earn even a nickel 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 info needed for it – username, email, cryptocurrency 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 to use 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. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto purchases require you to have capital on your account. In the case of Cryptonov, users are also compelled to top up to get the bonuses. And this is what creates the majority 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 participating on this site hoping to use all the deposited capital and withdraw them.

This is where the first obvious problems start to surface. When comparing the real crypto wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that swindlers are naught on intentions to give your money back. But to make the fraud look more legitimate, they’ve made up a whole bunch of reasons to decline the wireout request. Usually, they repeat what Know Your Client guidelines say, but for the Cryptonov.com they are here exclusively to make the withdrawal 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 numerous other checks you would desperately need to undergo before getting your money 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 Cryptonov.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Cryptonov 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.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 course of the scam, its masters may get in touch with you with specific documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we earlier figured out, these scammers have no intent of giving back your capital. So, what can these emails and browser extensions represent? Correct – this is another element of the fraudulent scheme designed to throw you into deliberately installing destructive software onto your device.

Both plugins and attachments attached to emails can act as a shell for various malicious code. In this case, I foresee the presence of spyware and stealers among all kinds of threats. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their conscience is of negligible importance, and their dignity is already deeply compromised. They have nothing to give up and aim to boost gains.

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