Investigating SulDEX: Legit or Scam? The Truth Revealed

Recently, Suldex.com service popped up, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather reliable proof that unmistakably confirms it is, actually, a scam platform.

Regardless of the promises of the most easy, trustworthy, and customer-centric service, Suldex.com does not fulfill any of them. All this is just a gilded wrap around a blatant scam, which takes your money and never gives them back. Any tales about bonuses, backing from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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SulDEX Scam Overview

Originally, SulDEX poses as a crypto trading & cryptowallet platform with exceptionally low commission fees. Another highlighted marketing point for this platform is partnerships with celebrities that are known in the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site claims having significant support from them. To make these claims look real, frauds 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 glaring wrap around a transparent scam.

SulDEX Scam

First and foremost, SulDEX repeats the appearance of multiple equivalent online platforms. There are quite a few examples, like Vkevex, Vikrex or Hesonax. They are completely identical in terms of graphic elements, with slight discrepancies in the webpage header. Other particulars, and at times even crypto wallet addresses, are the same. Probably, all these deceptive sites are led by the same team of frauds.

Cryptocurrency Scam Summary

How the SulDEX Scam Works?

SulDEX is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous 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 sophisticated psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the scam, criminals set up and fill accounts on popular social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign starts. Employing bots and paid ads (when achievable), fraud actors increase the presence of their scam activities to potential victims. And as I said, crooks do not disdain using deepfake for creating clips with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who registers the service immediately.

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

Users get an encouragement to sign up, enticed by the assurance of obtaining crypto rewards valued at hundreds of dollars, all for free. To enhance the attractiveness of the offer, false claims of sponsorship by a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

Upon clicking the promos, targets end up on a page filled with attractive offers. “Crypto starts with SulDEX”, “Your crypto savings are secured with SulDEX, “Start earning with SulDEX – they look rather authoritative. To heat up users and make them proceed to step 3, scammers say that claiming the pledged bonus requires registration. And as nothing questionable happens at this point, unaware users happily keep on – especially since the bonus appears to be right behind the corner.

This is the last stage when it is possible to skip the scam without any losses. Before you sign up using your personal info, rascals will not be able to earn even a penny from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, frauds bait folks into signing up for bonuses. And all the personal information needed for it – username, email, crypto wallet address – are valuable for user identification. Solely by gathering this information and selling it further into the Darknet, crooks can earn quite a penny. Still, 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, the user should top up the account with the equivalent sum. And this is what initiates the final step of the scam.

Step 4: Requesting funds

It is obvious that any crypto purchases require you to have capital on your account. In the case of SulDEX, users are also compelled to top up to get the bonuses. And this is what creates the majority 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 trading on this site hoping to use all the transferred capital and withdraw them.

This is where the victim notices the problems. When keeping an eye on the actual crypto wallet vs what the website says, you can spot 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

Needless to say that scoundrels have no intentions to give your money back. But to make it look more realistic, they’ve made up a whole pack of reasons to decline the wireout request. Most of them repeat what KYC requirements say, but for the Suldex.com they are here only to make the withdrawal impossible.

By asking for your personal info, scammers 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 funds back. And each of these checks will reveal more and more information, which – you guessed it right – will be then marketed 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 Suldex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. SulDEX employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, SulDEX exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying SulDEX as a scam.
• Dubious Corporate Information. SulDEX arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Suldex.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. SulDEX utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with SulDEX 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 duration of the scam, its actors may contact you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto assets. As we already determined, these scoundrels have no intention of giving back your funds. So, what do these emails and browser add-ons represent? Correct – that is another component of the deceptive plan designed to throw you into willingly installing destructive programs onto your computer.

Both plugins and attachments added to email messages can function as a carrier for various malicious code. In this scenario, I foresee the presence of spyware and stealers among all forms of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their conscience is of little concern, and their dignity is already severely tarnished. They have no principles to lose and intend to boost revenues.

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