We Investigated Soppex: Legit or Scam? The Facts

Recently, Soppex.com site surfaced, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather reliable proof that clearly indicates it is, actually, a fraudulent service.

Despite what Soppex site says, they won’t refund your money. Regardless of the numbers displayed in the “member area”, there is zero way to retrieve even a single penny. All commitments regarding crypto rewards are baseless as well.

Soppex Scam Overview

The key feature that Soppex attempts to provide is a safe and convenient cryptocurrency wallet service. The website pledges crypto exchange solutions, tools for managing wallets, transfers, dashboards, and the like. In truth, they endeavor to emulate the functionality of a crypto exchange, like Binance or Coinbase. However, it in actuality only serves as a shell needed to deceive the cautious.

Soppex Scam

To begin with, Soppex reproduces the layout of many equivalent online platforms. There are quite a few examples, like Fablexy, Hanbitco or Bittrom. They are totally identical in terms of graphic elements, with minor discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Most likely, all these fraudulent online platforms are operated by the same group of swindrels.

Cryptocurrency Scam Summary

How the Soppex Scam Works?

Soppex is yet another online platform within a wide-ranging network of interconnected crypto fraudulent sites. The operators employ various brand names and sites, like Soppex.com, to trap victims. However, these fraudulent sites share matching designs, terms of service, and About content. This unveils their sources as components of the identical fraudulent network, which endorses the identical mode of fraud under diverse covers. The fraudsters merely copy the identical scam site under various names to deceive users into assuming they are participating in a new opportunity. However, in actuality, it’s the same group of scammers orchestrating the fraudulent pledges and undertakings to take deposited cryptocurrency. The managers skillfully utilize psychological strategies and captivating propositions to execute their deceitful plans.

Step 1: Spreading

To begin the deceptive scheme, criminals create and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Utilizing bots and sponsored advertisements (when feasible), scam actors boost the visibility of their fraudulent activities to possible victims. This strategy permits them to cast an extensive net and engage with their focused spectators. The latter typically consists of cryptocurrency enthusiasts seeking opportunities to generate profits.

Step 2: Gaining Traffic

Users who express interest check out Soppex.com via links present in promotions or robotic posts. The webpage uses captivating visuals, design aspects that appear genuine, and assertions of having a official license, all designed to convey an initial impression of credibility.

Step 3: Data Gathering

To collect their benefits, users are required to actively create an account on Soppex and get prompts to provide sensitive and personal data during the registration process. This comprises linking their cryptocurrency wallets, sharing email addresses, specifying phone numbers, sending in identification papers, and the like.

Step 4: Requesting funds

Once signed up, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Soppex wallets. Nonetheless, as is common with such bonuses, you can’t withdraw them before making a deposit. Usually, a payment of $100 is required to get the sign-up bonus. This stipulation serves as the snare that eventually results to the money loss.

Step 5: Disappear

The moment the deposit is sent, the deceivers halt all contact. They move forward to restrict users, remove accounts, and disappear with both the submitted funds and critical private details. The fabricated prizes persist perpetually uncredited, as they lack genuine existence. They operate exclusively as a fraudulent strategy. This approach forms the foundation for the fraudsters’ capacity to deceive victims and embezzle hard-earned money through their deceptive internet-based crypto scheme.

Signs of Scam

I gathered several facts that point at the scammy nature of the Soppex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Soppex does not provide any documentation about its ownership, location or registration. No legitimate contact details are given either. Moreover, it appears that the domain and all social network pages were registered quite recently.
• Fake sponsorship from a celebrity. Scams like Soppex like to pick a celebrity as a sponsor of this entire campaign. For obvious reasons, fraudsters generally choose Elon Musk, Jeff Bezos, Mr. Beast, Mark Zuckerberg, and similar celebrities. They do not disdain claiming partnership with a company as well. Even though Coinbase, Binance or MetaMask never heard of Soppex, they do not care – this creates a halo of credibility.
• Potential Ponzi Scheme. The scam relies on a Ponzi-like referral system to spread reach through social media. In fact, only the first members will receive the payoff, at the cost of the money brought by other members.
• Hype without facts. Frauds can cheer up their victims from time to time, using claims about non-existent events. “We got contracts with Coinbase”, “Elon Musk mentioned us as the most prolific crypto project” – you could likely hear something like that. This is made to make people believe in their money return. This can be the sauce to make people top-up their accounts once again.
• Crypto-only incoming payments. Whether the user tries to top-up the account, hackers will only accept payments in crypto – no bank transfers or other payment methods. Such an approach completely hides the identity of the company and deprives you of the ability to ask for a refund.
• Claims are too good to be true. Let’s be sane and sober: even in crypto space, there are not many places where you can earn 50-100-200%. Being able to participate in all of them is nearly impossible, as well as it is impossible to insure or hedge all the risks. Even by that reason alone I can tell that the Soppex is a definite scam.

What Should I do as a Victim?

If you had to deal with Soppex 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, its actors may reach out to you with particular files. Alternatively, they may offer you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency assets. As we already determined, these rascals have no intention of giving back your funds. So, what can these emails and browser add-ons represent? You guessed it right – that is another side of the scam designed to entice you into deliberately running destructive applications onto your device.

Both extensions and files attached to emails can serve as a carrier for different malware. In this scenario, I anticipate the presence of spyware and stealers among all kinds of malware. While it is not mandatory for scammers to distribute malware, the probability is always significant. As noted, their morality is of no concern, and their reputation is already neck deep in mud. They have no principles to give up and intend to maximize gains.

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