Investigating MEJAG: Legit or Scam? The Truth Revealed

Recently, Mejag.com site surfaced, promoting itself as a place to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly indicates it is, in truth, a deceptive service.

Despite the promises of the most user-friendly, reliable, and client-friendly service, Mejag.com does not offer any of them. All this is just a golden wrap around a clear scam, which steals your money and data and never gives them back. Any stories about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

MEJAG Scam Overview

Originally, MEJAG poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another bright selling point for this service is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, rascals use AI-generated videos where those celebrities promote the fraud 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 vivid wrap around an obvious scam.

MEJAG Scam

To begin with, MEJAG shares the appearance of multiple equivalent websites. There are quite a few examples, like Pendlebit, Zoxecoin or Xodexy. They are totally undistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are matching. Presumably, all these fraudulent sites are operated by the same group of scoundrels.

Cryptocurrency Scam Summary

How the MEJAG Scam Works?

MEJAG is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use several 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 complex 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 scam, criminals set up and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and sponsored promotions (when achievable), fraud actors increase the exposure of their scam activities to possible victims. And as I said, crooks do not shy away using deepfake for creating videos with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.

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

Users get a stimulus to enroll, attracted by the commitment of getting cryptocurrency benefits valued at thousands of dollars, all without cost. To augment 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

Upon clicking the ads, targets end up on a page filled with attractive offers. “Crypto starts with MEJAG”, “Your crypto savings are secured with MEJAG, “Start earning with MEJAG – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that claiming the promoted bonus requires registration. And since nothing questionable happens at this point, unaware users happily proceed – especially as the bonus appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal information, frauds 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 said, scammers bait folks into registration to get bonuses. And all the personal info needed for it – username, email, crypto wallet address – are valuable for user identification. Only 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 promised bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, the user should top up the account with the equivalent sum. And this is what initiates the final stage of the scam.

Step 4: Requesting funds

It is obvious that any crypto operations require having money on your account. In the case of MEJAG, users are also coerced to top up to use the bonuses. And this is what creates the majority of the cash 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 trading on this site hoping to use all the transferred funds and withdraw them.

This is where the first obvious issues start to surface. When keeping an eye on the real cryptocurrency wallet vs what the website says, you can notice 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 fraudsters are naught on intentions to send you money. But to make it look more legitimate, they’ve crafted a whole pack of reasons to decline the transfer-out request. Usually, they repeat what KYC guidelines say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal information, 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 funds back. And each of these checks will reveal more and more info of yours, 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 Mejag.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with MEJAG 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, scoundrels may reach out to you with specific documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we previously determined, these deceivers have no plan of restoring your funds. So, what can these messages and browser plugins represent? You guessed – that is another element of the scam designed to entice you into willingly installing destructive applications onto your computer.

Both add-ons and files attached to emails can act as a carrier for different malware. In this scenario, I expect the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As stated, their conscience is of negligible importance, and their reputation is already seriously marred. They have no scruples to give up and strive to boost profits.

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