Freedogex Review: Legit or Scam? Read This First

Recently, Freedogex.net site appeared, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible proof that clearly reveals it is, actually, a deceptive service.

Despite the promises of the most convenient, trustworthy, and customer-centric service, Freedogex.net does not fulfill any of them. In fact, all this is just a gilded wrap around a dirty scam, which steals your money and never gives them back. Any stories about bonuses, sponsorship from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Freedogex Scam Overview

Originally, Freedogex poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another bright marketing point for this site is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look real, frauds use AI-generated videos with those celebs advertise the fraud as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a blatant wrap around an obvious scam.

Freedogex Scam

To begin with, Freedogex copies the appearance of many equivalent websites. There are quite a few examples, like Cryptocachets, Bscbhn or Xenups. They are totally identical in terms of visual elements, with slight discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these fraudulent websites are led by a single group of swindrels.

Cryptocurrency Scam Summary

How the Freedogex Scam Works?

Freedogex is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use various website designs, which still share the same overall layout. Another common 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 validity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals create and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Using bots and sponsored advertisements (when achievable), scam actors boost the exposure of their fraudulent activities to potential victims. And as I said, fraudsters do not disdain using deepfake for creating clips with the mentioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users obtain a stimulus to sign up, enticed by the commitment of receiving crypto prizes valued at thousands of dollars, all without cost. To increase the appeal of the offer, fake claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, users end up on a page filled with attractive offers. “Crypto starts with Freedogex”, “Your crypto savings are secured with Freedogex, “Start earning with Freedogex – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that getting the promoted bonus requires registration. And as nothing suspicious happens at this point, unaware 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 get away from the scam without any losses. Before you register using your personal data, frauds will not be able to 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 said, frauds bait folks for registration with bonuses. And all the personal information needed for it – email, username, crypto wallet address – are valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the alleged bonus is not available for withdrawal right away. To make it at least usable for cryptocurrency purchases, 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 operations require you to have capital on your account. In the case of Freedogex, users are also compelled to top up to get the bonuses. And these top ups is what creates most of the cash flow to this fraudulent site. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the deposited funds and withdraw them.

This, however, is where the issues start to surface. When keeping an eye on the real cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to pull out the funds 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 developed a whole pack of reasons to decline the withdrawal request. Usually, they repeat what KYC requirements say, but in this case they are here only to make the wireout impossible.

By requesting your personal data, frauds just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your grand back. And every check will share more and more information, which – you guessed it right – will be then traded 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 Freedogex.net. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Freedogex often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Freedogex.net exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Freedogex raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Freedogex.net employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Freedogex preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Freedogex as a scam.

What Should I do as a Victim?

If you had to deal with Freedogex 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 fraud, scoundrels may reach out to you with particular documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency savings. As we earlier figured out, these deceivers have no plan of giving back your money. So, what can these emails and browser add-ons represent? You guessed – this is another side of the fraudulent scheme designed to throw you into willingly installing malicious programs onto your system.

Both plugins and attachments attached to email messages can serve as a carrier for diverse malicious code. In this scenario, I anticipate the presence of spyware and stealers among other forms of threats. While it is not obligatory for scammers to distribute malware, the probability is always greater than zero. As noted, their conscience is of negligible importance, and their reputation is already seriously marred. They have nothing to give up and intend to maximize gains.

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