We Investigated Sag-quantify: Legit or Scam? The Facts

Recently, Sag-quantify.net site popped up, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible evidence that clearly confirms it is, in truth, a fraudulent service.

Despite the promises of the most easy, dependable, and customer-centric service, Sag-quantify.net does not offer any of them. In fact, all this is just a golden wrap around a blatant scam, which steals your funds and never gives them back. Any tales about bonuses, backing from celebrities etc are absent as well.

Sag-quantify Scam Overview

Originally, Sag-quantify poses as a cryptocurrency trading & cryptowallet service with remarkably low commission fees. Another highlighted selling point for this site is backing from celebrities that are known as crypto activists. 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, frauds employ deepfake videos with those celebs promote the fraud as if it was the best thing in the world. For known reasons, 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.

Sag-quantify Scam

First and foremost, Sag-quantify repeats the design of multiple similar websites. There are quite a few examples, like Xenutix, Zelonor or Sag. They are completely indistinguishable in terms of visual elements, with minor discrepancies in the site header. Other particulars, and at times even crypto wallet addresses, are identical. Presumably, all these scam sites are led by a single group of scoundrels.

Cryptocurrency Scam Summary

How the Sag-quantify Scam Works?

Sag-quantify is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use several website designs, which still share the similar overall layout. Another common 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 advanced psychological tricks that make the user believe in the legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals create and fill accounts on well-liked social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Utilizing bots and sponsored advertisements (when feasible), fraud actors boost the presence of their scam activities to potential victims. And as I said, fraudsters do not shy away using generative AI for creating clips with the aforementioned celebs 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 Sag-quantify in TikTok. Most of these videos are AI-generated deepfakes

Users get an incentive to enroll, drawn by the commitment of obtaining cryptocurrency prizes valued at thousands of dollars, all for free. To augment the appeal of the offer, fake claims of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the promotions, users end up on a page filled with enticing offers. “Crypto starts with Sag-quantify”, “Your crypto savings are secured with Sag-quantify, “Start earning with Sag-quantify – they look rather credible. To heat up the interest and make the users proceed to step 3, scammers say that getting the promoted bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily keep on – especially since the gift 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, rascals will not 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 mentioned, scammers bait folks for registration with bonuses. And all the personal info needed for it – email, username, crypto wallet address – is valuable for user identification. Exclusively 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 claimed bonus right away. To make at least cryptocurrency 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 cryptocurrency operations require you to have capital on your account. In the case of Sag-quantify, users are also compelled to top up to use the bonuses. And this is what creates most of the cash 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 engaging on this site hoping to use all the transferred money and withdraw them.

This, however, is where the problems start to surface. When keeping an eye on the real 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 scoundrels are naught on intentions to return your money. Though to make it look more legitimate, they’ve made up a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what Know Your Client guidelines say, but for the Sag-quantify.net they are here only to make the wireout impossible.

By requesting your personal data, deceivers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are numerous other checks you would desperately need to undergo before getting your grand back. And each of these checks will uncover 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 Sag-quantify.net. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Sag-quantify 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 the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
• Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
• Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
• Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
• Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.

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, scoundrels may reach out to you with particular documents. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency savings. As we already figured out, these scammers have no intent of giving back your funds. So, what do these messages and browser add-ons represent? Correct – this is another component of the fraudulent scheme designed to entice you into willingly installing malicious programs onto your device.

Both extensions and files attached to emails can serve as a shell for different malicious software. In this situation, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the chance is always above zero. As stated, their morality is of little concern, and their reputation is already neck deep in mud. They have no principles to lose and strive to boost revenues.

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