Cubum Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Cubum.com website appeared, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable supporting information that clearly indicates it is, in fact, a deceptive service.

Regardless of the promises of the most user-friendly, reliable, and customer-centric service, Cubum.com does not fulfill any of them. All this is just a shiny wrap around a clear scam, which takes your funds and never gives them back. Any tales about bonuses, endorsement from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Cubum Scam Overview

Originally, Cubum poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another notable marketing point for this platform is partnerships with celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look real, con actors use AI-generated videos where those celebrities promote the fake crypto service as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around a transparent scam.

Cubum Scam

First and foremost, Cubum copies the appearance of many similar pages. There are quite a few examples, like Wuptex, Traderprofx or Upbeastcoin. They are completely identical in terms of visual elements, with small discrepancies in the webpage header. Other details, and sometimes even crypto wallet addresses, are identical. Presumably, all these deceptive websites are led by a single team of frauds.

Cryptocurrency Scam Summary

How the Cubum Scam Works?

Cubum is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use various website designs, which still share the same 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 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 scam, criminals establish and fill accounts on well-liked social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Utilizing bots and sponsored ads (when possible), fraud actors boost the exposure of their scam 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 enrolls the service immediately.

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

Users get an incentive to register, attracted by the assurance of getting crypto prizes valued at hundreds of dollars, all without cost. To augment 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 following the promotions, users end up on a page filled with appealing offers. “Crypto starts with Cubum”, “Your crypto savings are secured with Cubum, “Start earning with Cubum – they look rather authoritative. To heat up users and make them proceed to step 3, scammers say that claiming the promised bonus requires registration. And as nothing suspicious happens at this point, uninformed users happily move on – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to steer away from the scam without any losses. Before you sign up using your personal info, crooks will not 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 into signing up for bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Solely by gathering this information 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 alleged bonus right away. To make at least crypto 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 kicks in.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require having funds on your account. With Cubum, users are also forced to top up to use the bonuses. And this is what creates most 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 engaging on this website hoping to use all the transferred funds and withdraw them.

This, however, is where the first obvious problems start to surface. When comparing the real cryptocurrency wallet vs what the site says, you can spot that no transactions are done whatsoever. And then, when you’d try to retrieve the capital 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 give your money back. But to make it look more realistic, they’ve elaborated a whole bunch of reasons to decline the wireout request. Usually, they repeat what Know Your Client guidelines say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal data, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you should go through before getting your funds 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 Cubum.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Cubum 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 course of the scam, its actors may reach out to you with specific documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we already determined, these rascals have no intention of returning your capital. So, what do these email messages and browser extensions represent? Correct – this is another element of the scam designed to entice you into deliberately installing malicious applications onto your device.

Both plugins and files added to email messages can function as a shell for different malicious code. In this situation, I foresee the presence of spyware and stealers among all kinds of malicious programs. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their conscience is of little concern, and their reputation is already deeply compromised. They have no principles to give up and intend to boost gains.

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