The Seydog Scam – Don’t Become the Next Victim

Recently, Seydog.com service surfaced, promoting itself as a place to store cryptocurrency and other assets securely. I managed to gather reliable proof that clearly indicates it is, in truth, a fraudulent platform.

Regardless of the promises of the most user-friendly, dependable, and client-friendly service, Seydog.com does not fulfill any of them. In fact, all this is just a gilded wrap around a clear scam, which steals your money and data and never gives them back. Any stories about gifts, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Seydog Scam Overview

Originally, Seydog poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another highlighted selling point for this site is partnerships with celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look more realistic, rascals use AI-generated videos with those celebs promote the fake crypto service as if it was the best thing in the world. For obvious 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.

Seydog Scam

First and foremost, Seydog shares the appearance of multiple equivalent websites. There are quite a few examples, like Sponbix, Spacexpace or Primegroup. They are totally undistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Probably, all these fraudulent online platforms are operated by the same gang of fraudsters.

Cryptocurrency Scam Summary

How the Seydog Scam Works?

Seydog is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Swindlers who stand behind it use various 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 legitimacy of the website. But let’s review them one by one.

Step 1: Promotion

To begin the scam, criminals set up and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Using bots and sponsored advertisements (when achievable), fraud actors increase the presence of their deceptive activities to possible victims. And as I said, fraudsters do not disdain using generative AI for creating clips with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who registers the service immediately.

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

Users receive a stimulus to register, drawn by the commitment of getting cryptocurrency rewards 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 claims are entirely baseless.

Step 2: Gaining Traffic

After following the promotions, victims end up on a page filled with attractive offers. “Crypto starts with Seydog”, “Your crypto savings are secured with Seydog, “Start earning with Seydog – they look rather reliable. To heat up the interest and make the users proceed to step 3, fraudsters say that unlocking the promised bonus requires registration. And since nothing suspicious happens at this point, unaware users happily keep on – especially since 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 info, rascals 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 mentioned, frauds bait folks for registration with bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Only by gathering this info and selling it further into the Darknet, swindlers 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 equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Obviously, any cryptocurrency operations require you to have funds on your account. In the case of Seydog, users are also forced to top up to use the bonuses. And this is what creates the majority of the money flow to this fraudulent site. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the credited funds and withdraw them.

This, however, is where the victim notices the issues. When comparing the actual cryptocurrency wallet vs what the website says, you can observe 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 swindlers are naught on intentions to give your money back. Though to make the fraud look more legitimate, they’ve crafted a whole bunch 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 withdrawal impossible.

By asking for your personal data, deceivers 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 would desperately need to undergo before getting your grand back. And every check will reveal more and more info of yours, 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 Seydog.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Seydog 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, scoundrels may reach out to you with particular documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we already determined, these scammers have no intention of restoring your money. So, what do these messages and browser extensions represent? You guessed it right – that is another element of the deceptive plan designed to entice you into willingly running harmful applications onto your system.

Both plugins and attachments included to email messages can act as a shell for diverse malicious code. In this scenario, I expect the presence of spyware and stealers among all types of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always significant. As previously mentioned, their ethics is of little concern, and their reputation is already seriously marred. They have nothing to lose and strive to boost revenues.

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