Tohvex Reviewed: Legit or Total Ripoff? Read This First

Recently, Tohvex.com site surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible evidence that clearly confirms it is, actually, a scam service.

Despite the promises of the most easy, dependable, and customer-centric service, Tohvex.com does not follow any of them. In fact, all this is just a golden wrap around a dirty scam, which takes your money and data and never returns them. Any stories about bonuses, endorsement from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Tohvex Scam Overview

Originally, Tohvex poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another bright selling point for this site is partnerships with celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, con actors use deepfake videos where those celebrities promote the fraud as 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.

Tohvex Scam

To begin with, Tohvex shares the layout of multiple similar online platforms. There are quite a few examples, like Tertox, Swapex or Staxdex. They are entirely identical in terms of graphic elements, with small discrepancies in the site header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Most likely, all these scam websites are managed by a single group of scammers.

Cryptocurrency Scam Summary

How the Tohvex Scam Works?

Tohvex is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the same 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 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 begin the scam, criminals establish and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and paid ads (when possible), fraud actors increase the presence of their fraudulent activities to possible victims. And as I said, scammers 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, frauds claim the bonus for every user who enrolls the service immediately.

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

Users obtain a stimulus to enroll, attracted by the promise of obtaining crypto benefits valued at thousands of dollars, all free of charge. To augment the appeal 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 following the ads, users end up on a page filled with attractive offers. “Crypto starts with Tohvex”, “Your crypto savings are secured with Tohvex, “Start earning with Tohvex – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that claiming the promoted bonus requires registration. And since nothing questionable happens at this point, uninformed users happily move on – especially as the gift appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you register using your personal info, crooks will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just mentioned, scammers bait folks into registration to get bonuses. And all the personal information needed for it – username, email, crypto wallet address – is valuable for user identification. Solely by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the claimed bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. And this is what initiates the final step of the scam.

Step 4: Requesting funds

Eventually, any cryptocurrency operations require you to have money on your account. In the case of Tohvex, users are also coerced to top up to get the bonuses. And this is what creates the majority of the cash 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 participating on this website hoping to use all the credited funds and withdraw them.

This, however, is where the victim notices the problems. When comparing the real crypto 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 swindlers have no intentions to give your money back. But to make the denial look more realistic, they’ve crafted a whole pack of reasons to decline the withdrawal request. Usually, they repeat what KYC requirements say, but for the Tohvex.com they are here only to make the wireout impossible.

By requesting your personal info, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your funds back. And every check will uncover more and more info of yours, 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 Tohvex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• False Celebrity Sponsorship. Tohvex often resorts to fake endorsements from celebrities such as Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. This fraudulent tactic extends to claiming partnerships with reputable companies like Coinbase, Binance, or MetaMask, despite lacking any genuine affiliations.
• Cryptocurrency-Only Payments. Tohvex.com exclusively accepts payments in cryptocurrencies, rejecting traditional bank transfers and other methods. This approach not only masks the company’s identity but also eliminates the possibility of seeking refunds.
• Dubious Company Information. Tohvex raises suspicion by withholding essential ownership, location, and registration details. Furthermore, the absence of legitimate contact information and the recent establishment of domain and social media pages intensify skepticism.
• Unsubstantiated Hype. Tohvex.com employs groundless hype tactics, fabricating events like securing contracts with Coinbase or receiving endorsements from Elon Musk. These manipulative techniques aim to instill false confidence and encourage further investments.
• Potential Pyramid Scheme. The scam relies on a structure resembling a Ponzi scheme, leveraging a referral system spread through social media. However, only initial participants benefit, often at the expense of subsequent investors.
• Implausible Claims. Promising returns of 50-100-200%, Tohvex preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Tohvex as a scam.

What Should I do as a Victim?

If you had to deal with Tohvex 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 timeline of the fraud, fraudsters may reach out to you with specific documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto assets. As we already figured out, these rascals have no intention of returning your funds. So, what can these messages and browser add-ons represent? You guessed – this is another side of the deceptive plan designed to throw you into deliberately running destructive applications onto your computer.

Both extensions and attachments included to email messages can serve as a carrier for various malicious software. In this scenario, I expect the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always existent. As previously mentioned, their morality is of little concern, and their dignity is already neck deep in mud. They have no scruples to give up and strive to boost profits.

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