Investigating Uueex: Legit or Scam? The Truth Exposed

Recently, Uueex.com website popped up, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable evidence that unmistakably indicates it is, in fact, a deceptive service.

Regardless of the promises of the most user-friendly, reliable, and client-friendly service, Uueex.com does not offer any of them. In fact, all this is just a shiny wrap around a blatant scam, which takes your money and data and never returns them. Any stories about bonuses, sponsorship from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Uueex Scam Overview

Originally, Uueex poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another highlighted selling point for this platform 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 real, rascals employ deepfake videos with those celebs advertise the fraud as the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Uueex Scam

To begin with, Uueex shares the design of multiple similar online platforms. There are quite a few examples, like Coinvertex, Bitehex or Antiviralsai. They are entirely identical in terms of visual elements, with minor discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are identical. Probably, all these fraudulent websites are led by a single group of fraudsters.

Cryptocurrency Scam Summary

How the Uueex Scam Works?

Uueex is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Scammers who stand behind it use numerous website designs, which still share the identical overall layout. Another common 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 start the deceptive scheme, criminals establish and fill accounts on well-liked social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Using bots and paid ads (when achievable), fraud actors boost the visibility of their deceptive activities to potential victims. And as I said, fraudsters do not disdain using generative AI for creating videos with the mentioned celebs that promote their scam to the public. To boost the folks even more, swindlers claim the bonus for every user who joins the service immediately.

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

Users get an encouragement to sign up, drawn by the promise of obtaining crypto rewards valued at hundreds of dollars, all free of charge. To enhance the attractiveness of the offer, false claims of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

After clicking the ads, victims end up on a page filled with appealing offers. “Crypto starts with Uueex”, “Your crypto savings are secured with Uueex, “Start earning with Uueex – they look rather authoritative. To heat up users and make them proceed to step 3, crooks say that getting the pledged bonus requires registration. And as nothing questionable happens at this point, unexperienced users happily keep on – especially as the gift appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you sign up using your personal info, swindrels will not 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, scammers bait folks for registration with bonuses. And all the personal info needed for it – email, username, crypto wallet address – are valuable for user identification. Only 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 promised bonus right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the equivalent sum. And this is what starts the final step of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency operations require having money on your account. With Uueex, users are also compelled to top up to claim the bonuses. And this is what creates the majority of the money flow to this scam website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the credited funds and withdraw them.

This is where the victim notices the issues. When keeping an eye on the actual crypto wallet vs what the website says, you can observe 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 scoundrels have zero intentions to send you money. Though to make the denial look more legitimate, they’ve elaborated a whole pack 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 information, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you should go through before getting your money back. And each of these checks will reveal more and more info of yours, 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 Uueex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Absent company details. Uueex 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 Uueex 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 Uueex, 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 Uueex is a definite scam.

What Should I do as a Victim?

If you had to deal with Uueex 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 timeline of the fraud, its actors may get in touch with you with particular files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency funds. As we previously determined, these scoundrels have no intent of returning your capital. So, what can these emails and browser plugins represent? Correct – this is another element of the deceptive plan designed to entice you into deliberately installing destructive software onto your device.

Both extensions and files added to email messages can serve as a carrier for different malware. In this scenario, I anticipate the presence of spyware and stealers among all types of malicious programs. While it is not mandatory for scammers to distribute malware, the likelihood is always existent. As previously mentioned, their conscience is of no concern, and their reputation is already seriously marred. They have no principles to lose and intend to maximize gains.

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