The Lapaido Scam – What You Need To Know

Written by Daniel Zimmerman

Recently, Lapaido.com website appeared, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather credible evidence that unmistakably reveals it is, in truth, a deceptive service.

Despite the promises of the most convenient, dependable, and customer-centric service, Lapaido.com does not fulfill any of them. In fact, all this is just a golden wrap around a clear scam, which takes your money and never gives them back. Any stories about bonuses, sponsorship from celebrities etc are non-existent as well.

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Lapaido Scam Overview

Originally, Lapaido poses as a cryptocurrency 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 says about being supported by them. To make these claims look more realistic, con actors employ AI-generated videos with those celebs advertise the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Lapaido.com Scam

Lapaido Scam

Initially, Lapaido copies the design of numerous similar online platforms. There are quite a few examples, like Nowzex, Cryptoelationexchange or Mercybit. They are completely identical in terms of graphic elements, with small discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are unchanged. Most likely, all these deceptive websites are led by a single gang of swindrels.

Cryptocurrency Scam Summary

Website Lapaido.com
Hosting AS57724 DDOS-GUARD LTD
Russia, Zarech’ye
IP Address 45.10.243.5
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Lapaido Scam Works?

Lapaido is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the similar overall layout. Another mutual 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 advanced psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals set up and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Using bots and sponsored promotions (when feasible), fraud actors boost the exposure of their scam activities to possible victims. And as I said, fraudsters do not disdain using deepfake for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who registers the service immediately.

Cryptoscam ads TIkTok

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

Users receive a stimulus to sign up, enticed by the assurance of getting cryptocurrency benefits valued at thousands of dollars, all without cost. To augment the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the ads, targets end up on a page filled with enticing offers. “Crypto starts with Lapaido”, “Your crypto savings are secured with Lapaido, “Start earning with Lapaido – they look rather reliable. To heat up users and make them proceed to step 3, fraudsters say that retrieving the promised bonus requires registration. And since nothing questionable happens at this point, uninformed users happily move on – especially as the bonus appears to be right behind the corner.

This is the last stage when it is possible to steer away from the scam without any losses. Before you register using your personal information, frauds will not earn even a penny 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 registration to get bonuses. And all the personal info needed for it – email, username, 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, the promised bonus is not available for withdrawal right away. To make it at least usable for crypto 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 cryptocurrency purchases require having funds on your account. In the case of Lapaido, users are also coerced to top up to claim the bonuses. And these top ups is what creates the majority of the money flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the transferred capital and withdraw them.

This is where the issues start to surface. When comparing the actual crypto wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw 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 zero intentions to give your money back. Though to make the fraud look more legitimate, they’ve elaborated a whole bunch of reasons to decline the withdrawal request. Most of them repeat what KYC guidelines say, but for the Lapaido.com they are here only to make the withdrawal impossible.

By requesting your personal info, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your money back. And every check will uncover more and more information, 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 Lapaido.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Lapaido 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 timeline of the fraud, rascals may contact you with particular files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we previously figured out, these rascals have no plan of giving back your capital. So, what can these messages and browser extensions represent? You guessed – that is another side of the fraudulent scheme designed to throw you into deliberately running malicious programs onto your device.

Both add-ons and attachments included to emails can act as a carrier for various malicious code. In this case, I anticipate the presence of spyware and stealers among other forms of malware. While it is not obligatory for scammers to distribute malware, the chance is always significant. As stated, their morality is of negligible importance, and their dignity is already severely tarnished. They have nothing to give up and intend to maximize gains.

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Frequently asked questions

Is there any real info on Lapaido site?

The vast majority of information posted on the Lapaido site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Lapaido site promices real?

No, there is no legitimate information on the Lapaido site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Lapaido scam?

Unfortunately, recovering funds lost to a scam like Lapaido can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Question Unrealistic Promises. Approach offers that promise unrealistically high returns or guaranteed profits with caution. If an investment opportunity sounds too good to be true, it probably is.
  2. Scrutinize Celebrity Endorsements. Exercise skepticism when encountering endorsements from celebrities or public figures. Scammers often create fabricated endorsements to enhance their credibility.
  3. Verify Regulation and Licensing. Investigate whether the platform or service holds proper regulation and licenses from relevant authorities. Scammers frequently operate without legitimate authorization.
  4. Consult Reviews and Feedback. Seek out independent reviews and feedback from other traders. Positive reviews can be falsified, but negative reviews may offer valuable insights.
  5. Resist Urgency. Be wary of tactics that use a false sense of urgency to rush your decisions. Legitimate investments provide the necessary time for thorough research and contemplation.

What should I do as a victim of a Lapaido.com scam?

If you have become a victim of a Lapaido or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Cease Communication. If you realize that you’ve been scammed, stop all communication with the scammers. Do not respond to their emails, messages, or calls.
  • Document Everything. Gather and preserve all relevant information, including emails, screenshots, transaction records, and any communication you had with the scammers. This documentation will be crucial for reporting the scam and seeking assistance.
  • Report to Authorities. File a report with your local law enforcement agency and any relevant regulatory authorities in your country. Provide them with all the evidence you have gathered. This helps initiate investigations and raises awareness about the scam.
  • Contact Financial Institutions. If you made any payments or deposits using your credit card or bank account, contact your financial institution immediately. They may be able to help you with disputing transactions or initiating a chargeback.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Notify Cryptocurrency Exchanges. If you used a cryptocurrency exchange to make transactions related to the scam, notify the exchange about the fraudulent activity. They may be able to assist you in some cases.
  • Monitor Your Accounts. Keep a close eye on your financial and online accounts for any suspicious activity. Change passwords and enable two-factor authentication wherever possible.
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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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