Recently, Ownertrader.pro website appeared, promoting itself as a place to keep cryptocurrency and other assets securely. I managed to gather credible proof that clearly confirms it is, actually, a fraudulent site.
Despite the promises of the most easy, dependable, and customer-centric service, Ownertrader.pro does not fulfill any of them. In fact, all this is just a golden wrap around a clear scam, which steals your funds and never returns them. Any stories about gifts, endorsement from celebrities etc are non-existent as well.
Ownertrader Scam Overview
Originally, Ownertrader poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another highlighted marketing point for this platform is partnerships with 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 deepfake videos with those celebs advertise the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a vivid wrap around an obvious scam.
Ownertrader Scam
To begin with, Ownertrader copies the design of many similar pages. There are quite a few examples, like Dysonalisveris, C or Vicbtc. They are completely undistinguishable in terms of visual elements, with small discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are identical. Presumably, all these deceptive sites are managed by a single gang of swindrels.
Cryptocurrency Scam Summary
| Website | Ownertrader.pro |
| Hosting | AS204601 Zomro B.V. Netherlands, Lelystad |
| IP Address | 80.89.239.179 |
| Threat Type | Scam/Fraud |
| Scam Type | Fraudulent offers of cryptocurrency services |
How the Ownertrader Scam Works?
Ownertrader is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use various 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 sophisticated 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 fraud, criminals set up and fill accounts on popular social media platforms. They mainly target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and paid ads (when feasible), scam actors boost the visibility of their deceptive activities to possible victims. And as I said, fraudsters do not disdain using generative AI for creating clips with the mentioned celebrities that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who enrolls the service immediately.
Promotions of cryptoscams like Ownertrader in TikTok. Most of these videos are AI-generated deepfakes
Users obtain a stimulus to sign up, enticed by the commitment of getting cryptocurrency rewards valued at hundreds of dollars, all for free. To augment the appeal of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are completely baseless.
Step 2: Gaining Traffic
Upon clicking the promos, victims end up on a page filled with attractive offers. “Crypto starts with Ownertrader”, “Your crypto savings are secured with Ownertrader, “Start earning with Ownertrader – they look rather authoritative. To heat up users and make them proceed to step 3, crooks say that unlocking the promoted bonus requires registration. And since nothing concerning happens at this point, unexperienced users happily proceed – especially since 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 info, rascals 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 mentioned, scammers bait folks for registration with bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Exclusively 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, 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 equivalent sum. At this point, the final stage of the scam begins.
Step 4: Requesting funds
Eventually, any crypto purchases require having funds on your account. In the case of Ownertrader, users are also compelled to top up to claim the bonuses. And these top ups is what creates most 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 participating on this site hoping to use all the deposited funds and withdraw them.
This is where the problems start to surface. When comparing the actual cryptocurrency wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to withdraw the funds from your account, the scam is finally uncovered to the user.
Step 5: Escaping from Funds Withdrawal
Needless to say that fraudsters are naught on intentions to send you money. Though to make the denial look more realistic, they’ve developed a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC requirements say, but for the Ownertrader.pro they are here only to make the wireout impossible.
By asking for your personal information, frauds 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 would desperately need to undergo before getting your funds back. And each of these checks will uncover 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 Ownertrader.pro. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Absent company details. Ownertrader 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 Ownertrader 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 Ownertrader, 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 Ownertrader is a definite scam.
What Should I do as a Victim?
If you had to deal with Ownertrader 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.
- Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
- Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
- Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
- Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
- Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.
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, scoundrels may contact you with particular files. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we earlier determined, these scammers have no plan of giving back your money. So, what do these messages and browser plugins represent? Correct – that is another component of the fraudulent scheme designed to throw you into willingly installing harmful applications onto your system.
Both extensions and files included to email messages can act as a shell for diverse malware. In this situation, I expect the presence of spyware and stealers among other kinds of malware. While it is not obligatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their conscience is of no concern, and their dignity is already severely tarnished. They have nothing to lose and intend to boost profits.
