Qwitex Reviewed: Real Deal or Total Ripoff? Read This First

Recently, Qwitex.com site surfaced, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly confirms it is, in truth, a fraudulent platform.

Regardless of the promises of the most easy, dependable, and customer-centric service, Qwitex.com does not offer any of them. In fact, all this is just a gilded wrap around a blatant scam, which takes your money and data and never returns them. Any tales about gifts, backing from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Qwitex Scam Overview

Originally, Qwitex poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another notable marketing point for this platform is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look more realistic, con actors employ deepfake videos where those celebrities promote the scam as if it was the best thing in the world. For obvious reasons, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Qwitex Scam

Initially, Qwitex shares the layout of numerous equivalent online platforms. There are quite a few examples, like Bitgalas, Windbitex or Vapyxer. They are completely identical in terms of visual elements, with minor discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive websites are led by the same team of scoundrels.

Cryptocurrency Scam Summary

How the Qwitex Scam Works?

Qwitex is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Rascals 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 fraud, criminals create and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and sponsored advertisements (when achievable), scam actors boost the exposure of their scam activities to potential victims. And as I said, crooks do not shy away using deepfake for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who enrolls the service immediately.

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

Users get an encouragement to enroll, attracted by the commitment of getting crypto prizes valued at hundreds of dollars, all for free. To increase the appeal of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the ads, users end up on a page filled with attractive offers. “Crypto starts with Qwitex”, “Your crypto savings are secured with Qwitex, “Start earning with Qwitex – they look rather authoritative. To heat up users and make them proceed to step 3, crooks say that claiming the promised bonus requires registration. And as nothing suspicious happens at this point, uninformed users happily proceed – especially as the bonus 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 information, crooks will not be able to 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, scammers bait folks for registration with bonuses. And all the personal data needed for it – username, email, crypto wallet address – are valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, swindlers 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 crypto purchases, the user should top up the account with the equivalent sum. And this is what starts the final stage of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require having capital on your account. In the case of Qwitex, users are also coerced to top up to claim the bonuses. And this is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the deposited money and withdraw them.

This is where the problems start to surface. When keeping an eye on the real crypto wallet vs what the site says, you can observe 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 scoundrels are naught on intentions to give your money back. Though to make the denial look more legitimate, they’ve elaborated a whole pack of reasons to decline the wireout request. Most of them repeat what KYC regulations say, but for the Qwitex.com they are here only to make the withdrawal impossible.

By asking for your personal data, frauds 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 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 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 Qwitex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Qwitex 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. Qwitex.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. Qwitex 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. Qwitex.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%, Qwitex preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Qwitex as a scam.

What Should I do as a Victim?

If you had to deal with Qwitex 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 timeline of the scam, rascals may get in touch with you with specific files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we already determined, these deceivers have no intent of returning your money. So, what can these email messages and browser extensions represent? Correct – this is another component of the scam designed to entice you into willingly running destructive applications onto your system.

Both extensions and files attached to email messages can serve as a shell for different malicious code. In this scenario, I anticipate the presence of spyware and stealers among other types of malware. While it is not mandatory for scammers to distribute malware, the probability is always greater than zero. As previously mentioned, their conscience is of little concern, and their dignity is already seriously marred. They have no scruples to give up and strive to maximize revenues.

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