We Investigated Porezex: Legit or Scam? The Facts

Recently, Porezex.com site surfaced, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather credible evidence that clearly reveals it is, actually, a scam service.

Despite the promises of the most easy, dependable, and client-friendly service, Porezex.com does not fulfill any of them. All this is just a gilded wrap around a dirty scam, which steals your funds and never gives them back. Any stories about gifts, endorsement from celebrities etc are absent as well.

Porezex Scam Overview

Originally, Porezex poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another highlighted marketing point for this service 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 claims having significant support from them. To make these claims look real, rascals employ AI-generated videos where those celebrities promote 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 blatant wrap around an obvious scam.

Porezex Scam

First and foremost, Porezex copies the design of multiple similar pages. There are quite a few examples, like Livebitx, Venluna or Trumpgivex. They are completely identical in terms of visual elements, with minor discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are matching. Probably, all these scam sites are managed by the same group of swindrels.

Cryptocurrency Scam Summary

How the Porezex Scam Works?

Porezex is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals create and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Utilizing bots and paid promotions (when feasible), scam actors boost the presence of their scam activities to potential victims. And as I said, fraudsters do not disdain using generative AI for creating clips with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

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

Step 2: Gaining Traffic

Upon following the ads, users end up on a page filled with enticing offers. “Crypto starts with Porezex”, “Your crypto savings are secured with Porezex, “Start earning with Porezex – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that retrieving the pledged bonus requires registration. And as nothing concerning happens at this point, unaware users happily move on – especially as the reward appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you sign up using your personal data, swindrels 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, deceivers bait folks into signing up for bonuses. And all the personal information needed for it – email, username, crypto wallet address – are valuable for user identification. Exclusively by gathering this data 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 crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. And this is what starts the final stage of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require having money on your account. In the case of Porezex, users are also forced to top up to use the bonuses. And this is what creates most of the money flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start participating on this site hoping to use all the credited money and withdraw them.

This, however, is where the victim notices the issues. When comparing the real cryptocurrency wallet vs what the site says, you can observe that no transactions are done whatsoever. And then, when you’d try to retrieve 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 return your money. Though to make the fraud look more legitimate, they’ve elaborated a whole pack of reasons to decline the wireout request. Most of them repeat what KYC requirements say, but for the Porezex.com they are here exclusively to make the withdrawal impossible.

By requesting your personal info, scammers 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 money back. And each of these checks will share more and more information, 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 Porezex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Porezex 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 course of the scam, fraudsters may get in touch with you with particular files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto assets. As we previously determined, these scammers have no intent of giving back your funds. So, what can these messages and browser plugins represent? You guessed it right – that is another side of the fraudulent scheme designed to entice you into willingly installing malicious software onto your computer.

Both plugins and attachments added to email messages can function as a carrier for different malicious software. In this case, I foresee 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 existent. As noted, their morality is of little concern, and their dignity is already severely tarnished. They have no principles to give up and aim to maximize revenues.

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