We Looked Into Fleedex: Scam or Trustworthy? The Verdict

Recently, Fleedex.com service appeared, promoting itself as a place where you can safely keep cryptocurrency and other assets. I managed to gather credible proof that unmistakably reveals it is, in truth, a deceptive platform.

Despite what Fleedex site says, they won’t refund your capital. Regardless of the figures displayed in the “member area”, there is no means to withdraw even a single coin. All pledges regarding crypto rewards are hollow as well.

Fleedex Scam Overview

The key service that Fleedex strives to provide is a protected and convenient crypto wallet service. The site pledges crypto exchange solutions, tools for handling wallets, transfers, dashboards, and alike functions. In reality, they endeavor to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in actuality exclusively serves as a shell intended to fool the cautious.

Fleedex Scam

First and foremost, Fleedex imitates the appearance of multiple similar websites. There are quite a few examples, like Exfoxbit, Evobitex or Elonexy. They are totally undistinguishable in terms of visual elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these fraudulent sites are managed by a single group of scoundrels.

Cryptocurrency Scam Summary

How the Fleedex Scam Works?

Fleedex is yet another online platform within a vast network of linked crypto deceptive webpages. The operators utilize various brand identities and sites, like Fleedex.com, to capture victims. Nonetheless, these false websites share identical website designs, terms of service, and About Us content. This reveals their sources as components of the equal fraudulent network, which advocates the same form of fraud under various appearances. The scammers just duplicate the same scam site under various names to fool users into thinking they are joining a new platform. However, in actuality, it’s the identical system of fraudsters orchestrating the misleading promises and undertakings to seize deposited cryptocurrency. The managers cleverly utilize psychological tactics and enticing invitations to implement their deceitful plots.

Step 1: Spreading

To initiate the deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and sponsored advertisements (when feasible), scam actors increase the exposure of their fraudulent activities to potential victims. This tactic allows them to create an extensive net and connect with their aimed audience. The latter usually comprises of cryptocurrency enthusiasts searching for prospects to make profits.

Step 2: Gaining Traffic

Individuals who express interest check out Fleedex.com via links included in ads or bot-generated posts. The website uses captivating visuals, design aspects that appear legitimate, and claims of having a legitimate license, all aimed to project an initial perception of reliability.

Step 3: Data Gathering

To redeem their rewards, users are required to deliberately sign up on Fleedex and get guidance to submit sensitive and private data during the enrollment procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, sending in identification documents, and more.

Step 4: Requesting funds

Once signed up, users witness significant amounts of cryptocurrency, valued at thousands of dollars, within their Fleedex wallets. Nevertheless, as it usually happens with such rewards, you are unable to withdraw them ahead of making a deposit. Normally, a payment of $100 is required to access the sign-up bonus. This stipulation serves as the enticement that eventually leads to the money loss.

Step 5: Disappear

The moment the deposit is submitted, the deceivers halt all contact. They proceed to block users, delete accounts, and disappear with both the submitted capital and vital individual details. The fictitious rewards persist perpetually uncredited, as they lack real existence. They act purely as a fraudulent maneuver. This technique forms the foundation for the scammers’ capability to trick victims and steal hard-earned money through their deceptive internet-based crypto scheme.

Signs of Scam

I gathered several facts that point at the scammy nature of the Fleedex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Fleedex does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Fleedex like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Fleedex, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Fleedex is a definite scam.

What Should I do as a Victim?

If you had to deal with Fleedex 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, fraudsters may get in touch with you with particular documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we earlier figured out, these scoundrels have no plan of restoring your money. So, what do these messages and browser extensions represent? Correct – this is another component of the deceptive plan designed to entice you into willingly installing harmful software onto your device.

Both extensions and attachments included to email messages can function as a shell for various malicious software. In this situation, I foresee the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the probability is always existent. As noted, their ethics is of no concern, and their dignity is already seriously marred. They have nothing to give up and strive to maximize revenues.

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