Ortadex Reviewed: Legit or Total Ripoff? Read This First

Recently, Ortadex.com website popped up, promoting itself as a platform where you can securely store cryptocurrency and other assets. I managed to gather reliable evidence that clearly confirms it is, actually, a fraudulent service.

Despite the promises of the most easy, dependable, and customer-centric service, Ortadex.com does not offer any of them. In fact, all this is just a shiny wrap around a blatant scam, which steals your funds and never returns them. Any stories about bonuses, endorsement from celebrities etc are non-existent as well.

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Ortadex Scam Overview

Originally, Ortadex poses as a crypto trading & cryptowallet service with exceptionally low commission fees. Another bright marketing point for this platform is partnerships with celebrities that are known as crypto activists. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, rascals employ AI-generated videos with those celebs advertise the scam as the best thing in the world. For obvious 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.

Ortadex Scam

Initially, Ortadex copies the design of multiple equivalent websites. There are quite a few examples, like Menedex, Galaxyxswap or Euphoriamjdasjncxz. They are entirely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these fraudulent online platforms are led by the same group of scammers.

Cryptocurrency Scam Summary

How the Ortadex Scam Works?

Ortadex 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 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 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 begin the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Employing bots and sponsored ads (when achievable), scam actors boost the visibility of their fraudulent activities to potential victims. And as I said, fraudsters do not shy away using generative AI for creating videos with the mentioned celebrities 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 Ortadex in TikTok. Most of these videos are AI-generated deepfakes

Users obtain a stimulus to sign up, enticed by the assurance of receiving crypto benefits valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, users end up on a page filled with enticing offers. “Crypto starts with Ortadex”, “Your crypto savings are secured with Ortadex, “Start earning with Ortadex – they look rather reliable. To heat up users and make them proceed to step 3, fraudsters say that obtaining the promoted bonus requires registration. And as nothing concerning happens at this point, unexperienced users happily move on – especially since 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 sign up using your personal info, rascals will not be able to earn even a nickel 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 signing up for bonuses. And all the personal information needed for it – username, email, crypto wallet address – are valuable for user identification. Solely by gathering this info and selling it further into the Darknet, fraudsters 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 it at least usable for cryptocurrency purchases, the user should top up the account with the sum of a bonus. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require you to have capital on your account. In the case of Ortadex, users are also coerced to top up to use the bonuses. And this is what creates the majority 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 engaging on this site hoping to use all the deposited capital and withdraw them.

This, however, 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

There’s no need to explain that swindlers are naught on intentions to give your money back. Though to make the fraud look more legitimate, they’ve developed a whole pack of reasons to decline the transfer-out request. Most of them repeat what Know Your Client regulations say, but in this case they are here only to make the wireout impossible.

By asking for your personal data, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you should go through 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 marketed 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 Ortadex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Ortadex 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 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 savings. As we already figured out, these scammers have no intent of restoring your funds. So, what do these messages and browser add-ons represent? You guessed – this is another component of the deceptive plan designed to throw you into deliberately running harmful programs onto your system.

Both add-ons and attachments attached to email messages can function as a shell for various malware. In this case, I expect the presence of spyware and stealers among other forms of threats. While it is not obligatory for scammers to distribute malware, the chance is always above zero. As stated, their ethics is of little concern, and their dignity is already severely tarnished. They have no scruples to lose and aim to maximize profits.

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Frequently asked questions

The truth about Ortadex

Name: Ortadex

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Ortadex, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Ortadex scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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User Review

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