Is Pleacecrypto Legit or Another Scam? The Truth Revealed

Recently, Pleacecrypto.com website popped up, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible supporting information that unmistakably reveals it is, in truth, a fraudulent site.

Despite the promises of the most easy, reliable, and client-friendly service, Pleacecrypto.com does not fulfill any of them. In fact, all this is just a golden 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.

Pleacecrypto Scam Overview

Originally, Pleacecrypto poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another bright marketing point for this platform is backing from celebrities that are known as crypto activists. 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 use deepfake videos with those celebs advertise 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 glaring wrap around an obvious scam.

Pleacecrypto Scam

To begin with, Pleacecrypto shares the design of multiple equivalent pages. There are quite a few examples, like Crypture, Tradingbotcrypto or Ethrewards. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the site header. Other details, and at times even crypto wallet addresses, are identical. Most likely, all these scam websites are led by a single gang of scoundrels.

Cryptocurrency Scam Summary

How the Pleacecrypto Scam Works?

Pleacecrypto 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 identical 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 deceptive scheme, criminals set up and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Using bots and sponsored promotions (when possible), fraud actors increase the visibility of their scam activities to possible victims. And as I said, crooks 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 Pleacecrypto in TikTok. Most of these videos are AI-generated deepfakes

Users get an encouragement to sign up, drawn by the commitment of receiving crypto rewards valued at thousands of dollars, all without cost. To enhance the appeal of the offer, false suggestions of sponsorship by a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, users end up on a page filled with appealing offers. “Crypto starts with Pleacecrypto”, “Your crypto savings are secured with Pleacecrypto, “Start earning with Pleacecrypto – they look rather reliable. To heat up the interest and make the users proceed to step 3, scammers say that obtaining the pledged bonus requires registration. And since nothing questionable happens at this point, unexperienced users happily keep on – especially as the reward appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you sign up using your personal data, crooks 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, deceivers bait folks into registration for bonuses. And all the personal info needed for it – username, email, cryptocurrency 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. Still, their plans go much further.

As it turns out, you cannot use the promised bonus right away. To make it at least usable for crypto purchases, you need to top up the account with the equivalent sum. At this point, the final stage of the scam begins.

Step 4: Requesting funds

It is obvious that any crypto operations require having funds on your account. With Pleacecrypto, users are also coerced to top up to claim the bonuses. And this is what creates most of the money flow to this scam 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 capital and withdraw them.

This is where the victim notices the problems. When comparing the actual crypto wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have zero 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 Know Your Client guidelines say, but in this case 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 should go through before getting your grand back. And every check will reveal more and more information, 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 Pleacecrypto.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Pleacecrypto 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 duration of the fraud, fraudsters may get in touch with you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we previously figured out, these scammers have no intention of giving back your funds. So, what do these messages and browser plugins represent? Correct – that is another component of the scam designed to entice you into deliberately running harmful software onto your device.

Both extensions and attachments added to emails can function as a shell for diverse malware. In this case, I foresee the presence of spyware and stealers among other forms of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always above zero. As stated, their conscience is of no concern, and their dignity is already neck deep in mud. They have nothing to lose and intend to boost revenues.

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