The Truth About Freeglobaltrade: Legit or Scam? Our Review

Recently, Freeglobaltrade.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets securely. I managed to gather credible supporting information that clearly indicates it is, in truth, a deceptive service.

Contrary to the claims of Freeglobaltrade.com, they won’t ever give back your money. Even though the money displayed in the “member area”, there is zero means to retrieve even a cent. All promises regarding crypto bonuses are baseless as well.

Freeglobaltrade Scam Overview

The key service that Freeglobaltrade attempts to provide is a safe and user-friendly crypto wallet service. The site pledges crypto exchange facilities, tools for controlling wallets, transfers, dashboards, and similar stuff. In fact, they endeavor to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it in fact exclusively serves as a cover needed to lull the vigilance.

Freeglobaltrade Scam

Initially, Freeglobaltrade imitates the layout of many similar online platforms. There are quite a few examples, like Bitbeast, Bycoinx or Binodax. They are completely indistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other specific elements, and at times even crypto wallet addresses, are unchanged. Most likely, all these deceptive sites are operated by the same gang of frauds.

Cryptocurrency Scam Summary

How the Freeglobaltrade Scam Works?

Freeglobaltrade is yet another online platform within a vast network of linked crypto fraudulent platforms. The administrators employ various brand names and websites, like Freeglobaltrade.com, to ensnare victims. However, these deceptive websites share matching designs, terms of service, and About information. This unveils their beginnings as parts of the equal scam network, which endorses the identical type of deception under different disguises. The scammers just copy the same deceptive website under various names to deceive users into believing they are participating in a new platform. However, in reality, it’s the same system of fraudsters orchestrating the misleading commitments and undertakings to grab deposited money. The operators shrewdly employ psychological maneuvers and captivating offers to carry out their deceitful schemes.

Step 1: Spreading

To initiate the scam, criminals create and fill accounts on well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Employing bots and paid ads (when achievable), scam actors increase the presence of their fraudulent activities to possible victims. This approach enables them to cast an extensive net and engage with their targeted audience. This group commonly consists of cryptocurrency fans searching for chances to make profits.

Users obtain an encouragement to sign up, enticed by the assurance of getting crypto rewards valued at thousands of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Users who demonstrate interest visit Freeglobaltrade.com via links present in advertisements or bot-generated posts. The website employs captivating visuals, design features that appear legitimate, and claims of possessing a valid license, all designed to convey an initial image of credibility.

Step 3: Data Gathering

To redeem their benefits, users must actively sign up on Freeglobaltrade and get guidance to submit sensitive and private information during the registration process. This comprises linking their cryptocurrency wallets, revealing email addresses, supplying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once signed up, users observe substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Freeglobaltrade wallets. Nonetheless, as is standard with such bonuses, you can’t withdraw them ahead of making a deposit. Usually, a deposit of $100 is required to access the sign-up bonus. This prerequisite serves as the enticement that eventually results to the money loss.

Step 5: Disappear

The instant the payment is sent, the deceivers halt all contact. They go ahead to restrict users, erase accounts, and disappear with both the submitted funds and critical personal information. The phony prizes remain perpetually uncredited, as they lack actual existence. They function exclusively as a fraudulent strategy. This approach forms the foundation for the scammers’ capacity to trick victims and embezzle hard-earned money through their duplicative online crypto scam.

Signs of Scam

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

• Absent company details. Freeglobaltrade 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 Freeglobaltrade 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 Freeglobaltrade, 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 Freeglobaltrade is a definite scam.

What Should I do as a Victim?

If you had to deal with Freeglobaltrade 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 course of the fraud, its actors may get in touch with you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto savings. As we earlier figured out, these rascals have no intent of restoring your funds. So, what do these messages and browser add-ons represent? You guessed – that is another side of the deceptive plan designed to entice you into deliberately installing malicious software onto your device.

Both add-ons and files attached to emails can serve as a carrier for different malicious software. In this situation, I expect the presence of spyware and stealers among all forms of malware. While it is not mandatory for scammers to distribute malware, the probability is always significant. As noted, their ethics is of no concern, and their dignity is already neck deep in mud. They have nothing to lose and intend to maximize gains.

Frequently asked questions