We Investigated Felunax: Legit or Scam? The Facts

Recently, Felunax.com site surfaced, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable supporting information that clearly reveals it is, actually, a scam service.

Regardless of the promises of the most easy, reliable, and customer-centric service, Felunax.com does not follow any of them. In fact, all this is just a shiny wrap around a blatant scam, which takes your funds and never gives them back. Any tales about gifts, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Felunax Scam Overview

Originally, Felunax poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another notable marketing point for this service is backing from celebrities that are known in the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, rascals use AI-generated videos with those celebs advertise the fraud as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Felunax Scam

To begin with, Felunax copies the design of numerous equivalent pages. There are quite a few examples, like Coweu, Citzns or Dttsc. They are entirely undistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are the same. Probably, all these fraudulent sites are managed by a single group of swindrels.

Cryptocurrency Scam Summary

How the Felunax Scam Works?

Felunax is a part of a significant cryptocurrency scam scheme that started circulating actively 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 sophisticated 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 begin the fraud, criminals create and fill accounts on well-liked social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Using bots and paid promotions (when feasible), fraud actors increase the visibility of their fraudulent activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating clips with the aforementioned celebs that promote 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 Felunax in TikTok. Most of these videos are AI-generated deepfakes

Users get an incentive to register, drawn by the promise of obtaining cryptocurrency benefits valued at thousands of dollars, all for free. To augment the appeal of the offer, fake claims of sponsorship by a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

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

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal data, swindrels will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, scammers bait folks into signing up to get bonuses. And all the personal information needed for it – username, email, crypto wallet address – is valuable for user identification. Only 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 alleged bonus 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 kicks in.

Step 4: Requesting funds

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

This is where the first obvious problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the website 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

There’s no need to explain that fraudsters have 0 intentions to give your money back. Though to make it look more legitimate, they’ve elaborated a whole bunch of reasons to decline the transfer-out request. Usually, they repeat what Know Your Client requirements say, but for the Felunax.com they are here only to make the wireout impossible.

By asking for 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 grand back. And every check will uncover 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 Felunax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Felunax 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 scam, rascals may contact you with particular documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously figured out, these rascals have no intention of giving back your capital. So, what can these emails and browser extensions represent? You guessed it right – this is another element of the scam designed to throw you into willingly running destructive applications onto your computer.

Both add-ons and attachments attached to email messages can serve as a shell for diverse malware. In this situation, I anticipate the presence of spyware and stealers among all types of malware. While it is not obligatory for scammers to distribute malware, the probability is always significant. As noted, their ethics is of little concern, and their reputation is already severely tarnished. They have nothing to give up and strive to maximize profits.

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