We Looked Into Seyget: Scam or Trustworthy? The Verdict

Recently, Seyget.com service surfaced, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather reliable proof that clearly indicates it is, actually, a scam service.

Despite the promises of the most easy, reliable, and customer-centric service, Seyget.com does not fulfill any of them. All this is just a shiny wrap around a blatant scam, which steals your money and data and never returns them. Any tales about bonuses, endorsement from celebrities etc are non-existent as well.

Seyget Scam Overview

Originally, Seyget poses as a cryptocurrency trading & cryptowallet platform with exceptionally low commission fees. Another bright 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 says about being supported by them. To make these claims look real, rascals use AI-generated videos where those celebrities advertise the fake crypto service as the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

Seyget Scam

To begin with, Seyget copies the appearance of many similar online platforms. There are quite a few examples, like Gexchain, Coinxbliss or Bitnase. They are entirely identical in terms of visual elements, with small discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are identical. Most likely, all these deceptive sites are managed by a single group of swindrels.

Cryptocurrency Scam Summary

How the Seyget Scam Works?

Seyget is a part of a significant cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use several website designs, which still share the same overall layout. Another shared 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 generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and sponsored promotions (when achievable), scam actors boost the presence of their deceptive activities to possible victims. And as I said, scammers do not shy away using generative AI for creating videos with the mentioned celebrities that advertise their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

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

Users receive an incentive to register, attracted by the commitment of obtaining crypto benefits valued at hundreds of dollars, all for free. To increase the appeal of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

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

This is the last stage when it is possible to steer away from the scam without any losses. Before you sign up using your personal data, crooks 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 said, frauds bait folks into signing up for bonuses. And all the personal info needed for it – email, username, cryptocurrency wallet address – is valuable for user identification. Solely by gathering this information 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 it at least usable for crypto purchases, the user should top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

It is obvious that any crypto purchases require having money on your account. With Seyget, users are also forced to top up to use the bonuses. And these top ups 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 trading on this site hoping to use all the transferred money and withdraw them.

This is where the victim notices the problems. When comparing the real cryptocurrency wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to withdraw 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 scoundrels have no intentions to send you money. But to make it look more legitimate, they’ve elaborated a whole bunch of reasons to decline the wireout request. Usually, they repeat what KYC guidelines say, but for the Seyget.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 money back. And every check will share 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 Seyget.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Seyget 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.

• Immediate Reporting. Your initial step should involve promptly notifying local authorities specializing in financial fraud. Extend your reach by reaching out to wallet providers and engaging with social networks’ technical support teams. These actions serve to raise the bar for the scammers’ operations.
• Share among Friends. Amplify your efforts by informing your close friends about the scam. Similar to informing authorities, this dissemination of information restricts the scammers’ potential victim pool.
• Preserve Crucial Information. Compile a comprehensive evidence archive by capturing screenshots and archiving all relevant website-related data. Collect the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These records could provide vital clues for authorities in their pursuit of the scammers.
• Exploring Refund Options. While most banks’ refund policies may exclude cryptocurrency payments, it’s advisable to explore potential refund avenues under specific circumstances. Maintain hope until you obtain confirmation of the loss.
• Transform Loss into Knowledge. Turn your financial setback into an opportunity for growth. View your loss as an investment in understanding the strategies employed by crypto scam sites. Familiarize yourself with their telltale characteristics, the methods they employ to entice individuals, and the extravagant promises they make. Equipped with this insight, you’ll be well-prepared to spot and evade future traps without suffering additional 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 course of the scam, fraudsters may contact you with specific files. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto funds. As we earlier figured out, these scammers have no intention of restoring your capital. So, what do these emails and browser extensions represent? Correct – this is another side of the fraudulent scheme designed to entice you into willingly installing destructive programs onto your system.

Both plugins and files included to emails can function as a carrier for different malware. In this case, I anticipate the presence of spyware and stealers among all kinds of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As stated, their ethics is of negligible importance, and their reputation is already deeply compromised. They have no principles to lose and aim to maximize revenues.

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