The Nelovax Scam – Don’t Become the Next Victim

Recently, Nelovax.com site surfaced, promoting itself as a place where you can securely keep cryptocurrency and other assets. I managed to gather reliable evidence that clearly reveals it is, in fact, a scam site.

Regardless of the promises of the most easy, reliable, and client-friendly service, Nelovax.com does not follow any of them. All this is just a golden wrap around a dirty scam, which takes your money and data and never returns them. Any tales about bonuses, endorsement from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Nelovax Scam Overview

Originally, Nelovax poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another notable marketing point for this service is backing from celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, frauds employ AI-generated videos with those celebs 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 said in the introduction, all this is just a glaring wrap around an obvious scam.

Nelovax Scam

Initially, Nelovax copies the layout of many similar websites. There are quite a few examples, like Rodonyx, Pantera or Bargainzdeal. They are entirely undistinguishable in terms of visual elements, with small discrepancies in the webpage header. Other specific elements, and at times even crypto wallet addresses, are the same. Presumably, all these fraudulent online platforms are led by a single group of frauds.

Cryptocurrency Scam Summary

How the Nelovax Scam Works?

Nelovax 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 similar 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To start the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Using bots and paid advertisements (when achievable), scam actors increase the presence of their scam activities to possible victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

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

Users get an encouragement to register, enticed by the assurance of obtaining cryptocurrency prizes valued at hundreds of dollars, all free of charge. To enhance the attractiveness of the offer, false suggestions of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After following the promos, users end up on a page filled with enticing offers. “Crypto starts with Nelovax”, “Your crypto savings are secured with Nelovax, “Start earning with Nelovax – they look rather credible. To heat up users and make them proceed to step 3, scammers say that getting the promised bonus requires registration. And as nothing suspicious happens at this point, unaware users happily proceed – especially as the reward appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you sign up using your personal information, frauds will not earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, frauds bait folks into registration to get bonuses. And all the personal information needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the alleged bonus right away. To make at least cryptocurrency purchases on the platform with it, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Obviously, any crypto purchases require you to have money on your account. With Nelovax, users are also compelled to top up to use the bonuses. And these top ups is what creates most of the money flow to this scam site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the credited funds and withdraw them.

This, however, is where the victim notices the issues. When comparing the real cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that scoundrels are naught on intentions to return your money. But to make the fraud look more legitimate, they’ve elaborated a whole pack of reasons to decline the withdrawal request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal information, scammers just stall hoping for you to understand that you’ve been scammed 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 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 Nelovax.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Nelovax often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Nelovax.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Nelovax raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Nelovax.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Nelovax preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Nelovax as a scam.

What Should I do as a Victim?

If you had to deal with Nelovax 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 scam, its actors may contact you with particular documents. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we already determined, these scoundrels have no intent of restoring your money. So, what do these email messages and browser plugins represent? You guessed it right – that is another component of the fraudulent scheme designed to throw you into willingly running harmful programs onto your device.

Both add-ons and attachments added to emails can function as a shell for diverse malicious software. In this scenario, I anticipate the presence of spyware and stealers among other forms of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As previously mentioned, their conscience is of little concern, and their dignity is already deeply compromised. They have no scruples to lose and intend to maximize gains.

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