Investigating LOMEREX: Legit or Scam? The Truth Revealed

Recently, Lomerex.com website popped up, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible evidence that unmistakably confirms it is, actually, a deceptive platform.

Despite the promises of the most convenient, reliable, and customer-centric service, Lomerex.com does not offer any of them. In fact, all this is just a golden wrap around a blatant scam, which takes your money and never gives them back. Any stories about bonuses, backing from celebrities etc are absent as well.

LOMEREX Scam Overview

Originally, LOMEREX poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another notable marketing point for this platform is backing from 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 more realistic, con actors use AI-generated videos where those celebrities advertise the scam as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

LOMEREX Scam

To begin with, LOMEREX shares the appearance of many equivalent websites. There are quite a few examples, like Levolax, Lamidex or Alivlab. They are entirely identical in terms of visual elements, with minor discrepancies in the site header. Other details, and at times even crypto wallet addresses, are the same. Probably, all these scam online platforms are operated by a single team of scammers.

Cryptocurrency Scam Summary

How the LOMEREX Scam Works?

LOMEREX is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the same 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 initiate the scam, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Employing bots and sponsored advertisements (when possible), scam actors boost the presence of their deceptive activities to possible victims. And as I said, fraudsters do not disdain using deepfake for creating videos with the mentioned celebrities that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who enrolls the service immediately.

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

Users get an encouragement to sign up, drawn by the commitment of getting crypto benefits valued at hundreds of dollars, all without cost. To increase the appeal of the offer, false suggestions of sponsorship by a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the ads, targets end up on a page filled with enticing offers. “Crypto starts with LOMEREX”, “Your crypto savings are secured with LOMEREX, “Start earning with LOMEREX – they look rather credible. To heat up the interest and make the users proceed to step 3, fraudsters say that getting the pledged bonus requires registration. And since nothing concerning happens at this point, unaware users happily keep on – especially as the gift appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal info, rascals will not 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, frauds bait folks into registration for bonuses. And all the personal information needed for it – email, username, crypto wallet address – is valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require you to have funds on your account. In the case of LOMEREX, users are also compelled to top up to get the bonuses. And these top ups is what creates most of the money flow to this fraudulent site. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start participating on this website hoping to use all the credited funds and withdraw them.

This, however, is where the problems start to surface. When comparing the real crypto wallet vs what the site says, you can observe 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

Needless to say that swindlers are naught on intentions to give your money back. But to make the denial look more realistic, they’ve made up a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC guidelines say, but in this case they are here exclusively to make the wireout impossible.

By requesting your personal info, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your funds back. And every check will uncover 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 Lomerex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with LOMEREX 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 scam, its actors may contact you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we already determined, these deceivers have no intent of returning your funds. So, what can these emails and browser plugins represent? You guessed it right – this is another component of the fraudulent scheme designed to throw you into willingly running malicious programs onto your device.

Both add-ons and files added to emails can serve as a shell for various malicious code. In this scenario, I foresee the presence of spyware and stealers among all forms of malicious programs. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As noted, their conscience is of negligible importance, and their reputation is already severely tarnished. They have no scruples to lose and strive to boost revenues.

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