We Looked Into KUEX: Scam or Trustworthy? The Verdict

Recently, Kuex3.com service surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible proof that unmistakably confirms it is, actually, a scam site.

Regardless of the promises of the most user-friendly, dependable, and client-friendly service, Kuex3.com does not follow 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.

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KUEX Scam Overview

Originally, KUEX poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another highlighted selling point for this site 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 more realistic, rascals employ 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 choise for that. But, as I mentioned above, all this is just a vivid wrap around a transparent scam.

KUEX Scam

To begin with, KUEX shares the appearance of many equivalent websites. There are quite a few examples, like Qfsledgerverified, Zuxbit or Disney. They are completely undistinguishable in terms of visual elements, with minor discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are the same. Probably, all these fraudulent websites are led by the same group of fraudsters.

Cryptocurrency Scam Summary

How the KUEX Scam Works?

KUEX is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use numerous 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 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 start the fraud, criminals establish and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and sponsored advertisements (when achievable), scam actors intensify the visibility of their scam activities to possible victims. And as I said, scammers do not shy away using generative AI for creating clips with the mentioned celebs that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

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

Users obtain a stimulus to sign up, attracted by the assurance of getting cryptocurrency prizes valued at thousands of dollars, all without cost. To increase the attractiveness of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the promos, users end up on a page filled with enticing offers. “Crypto starts with KUEX”, “Your crypto savings are secured with KUEX, “Start earning with KUEX – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that claiming the pledged bonus requires registration. And since nothing questionable happens at this point, uninformed users happily keep on – especially since the reward appears to be right behind the corner.

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

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, scammers bait folks into signing up to get bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely 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, the promised 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 begins.

Step 4: Requesting funds

Obviously, any crypto operations require having money on your account. In the case of KUEX, users are also forced to top up to get the bonuses. And this is what creates the majority of the money flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the credited capital and withdraw them.

This is where the victim notices the issues. When comparing 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 pull out the money 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 return your money. Though to make it look more legitimate, they’ve developed a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC guidelines say, but in this case they are here only to make the withdrawal impossible.

By requesting your personal data, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your money back. And each of these checks will share more and more info of yours, 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 Kuex3.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. KUEX employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, KUEX exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying KUEX as a scam.
• Dubious Corporate Information. KUEX arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Kuex3.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. KUEX utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with KUEX 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 timeline of the scam, its masters may get in touch with you with particular documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we previously figured out, these scammers have no intention of giving back your capital. So, what do these emails and browser plugins represent? Correct – this is another component of the deceptive plan designed to throw you into willingly running malicious programs onto your device.

Both plugins and attachments attached to email messages can act as a shell for diverse malicious code. In this case, I anticipate 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 greater than zero. As noted, their conscience is of negligible importance, and their reputation is already seriously marred. They have no scruples to give up and intend to maximize revenues.

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