Velucea Review: Legit or Scam? Read This First

Recently, Velucea.com site appeared, promoting itself as a place where you can securely store cryptocurrency and other assets. I managed to gather reliable proof that clearly reveals it is, actually, a scam site.

Despite the promises of the most easy, trustworthy, and client-friendly service, Velucea.com does not offer any of them. In fact, all this is just a gilded wrap around a dirty scam, which takes your money and never gives them back. Any stories about bonuses, backing from celebrities etc are non-existent as well.

It is better to prevent, than repair and repent!

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Velucea Scam Overview

Originally, Velucea poses as a crypto trading & cryptowallet service with remarkably low commission fees. Another bright marketing point for this platform is backing from 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, con actors employ AI-generated videos with those celebs promote 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 blatant wrap around an obvious scam.

Velucea Scam

To begin with, Velucea copies the layout of multiple equivalent websites. There are quite a few examples, like Globe, Nellcoin or Websterbit. They are entirely identical in terms of visual elements, with small discrepancies in the webpage header. Other particulars, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these deceptive sites are operated by a single team of swindrels.

Cryptocurrency Scam Summary

How the Velucea Scam Works?

Velucea is a part of a large cryptocurrency scam scheme that started circulating vividly in 2023. Scammers who stand behind it use various 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 advanced psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To start the fraud, criminals establish and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Utilizing bots and sponsored ads (when achievable), fraud actors boost the visibility of their scam activities to possible victims. And as I said, scammers do not disdain using generative AI for creating videos with the aforementioned celebrities that promote 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 Velucea in TikTok. Most of these videos are AI-generated deepfakes

Users get a stimulus to enroll, drawn by the commitment of obtaining crypto benefits valued at thousands of dollars, all without cost. To augment the appeal of the offer, false claims of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon following the ads, targets end up on a page filled with enticing offers. “Crypto starts with Velucea”, “Your crypto savings are secured with Velucea, “Start earning with Velucea – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that unlocking the promised bonus requires registration. And since nothing suspicious happens at this point, uninformed users happily keep on – especially since the gift appears to be right behind the corner.

This is the last stage when it is possible to get away from the scam without any losses. Before you register using your personal data, crooks will not 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 said, scammers bait folks into registration to get bonuses. And all the personal info needed for it – username, email, crypto wallet address – are valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

As it turns out, the alleged bonus is not available to use right away. To make at least cryptocurrency purchases on the platform with it, you need to top up the account with the equivalent sum. At this point, the final stage of the scam kicks in.

Step 4: Requesting funds

Obviously, any crypto purchases require having funds on your account. With Velucea, users are also forced to top up to use the bonuses. And these top ups 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 engaging on this website hoping to use all the credited funds and withdraw them.

This, however, is where the issues start to surface. When keeping an eye on the real crypto wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve 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 swindlers have no intentions to give your money back. But to make the fraud look more realistic, they’ve elaborated a whole pack of reasons to decline the wireout request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal info, deceivers 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 money back. And each of these checks will reveal more and more information, 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 Velucea.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Velucea 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 to Authorities. Your initial action should involve reporting the scam to local authorities responsible for addressing financial fraud. Additionally, reach out to wallet providers and engage with the technical support teams of social networks. This collective effort raises the bar for the scammers’ operations.
• Inform Your Inner Circle. Extend your impact by sharing information about the scam with your close friends. Similar to notifying authorities, this dissemination of details curbs the scammers’ potential to deceive.
• Document the Trail. Assemble a comprehensive record by capturing screenshots and archiving all relevant website-related data. This encompasses the website URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials offer invaluable leads for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments may not typically align with traditional bank refund policies, it’s worthwhile to explore potential refund avenues under specific circumstances. Maintain a positive outlook until you secure confirmation of the loss.
• Transform Loss into Insight. Shift your focus from the financial loss to gaining wisdom. Consider your loss as an investment in comprehending the tactics employed by crypto scam sites. Familiarize yourself with their distinctive traits, the methods they employ to entice individuals, and the extravagant pledges they make. This knowledge equips you to recognize and avoid future traps, minimizing the risk of enduring further 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 fraud, scoundrels may reach out to you with particular documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we previously figured out, these rascals have no intent of giving back your money. So, what do these email messages and browser add-ons represent? You guessed it right – this is another component of the fraudulent scheme designed to entice you into deliberately installing harmful software onto your device.

Both add-ons and files attached to email messages can act as a shell for different malicious code. In this situation, I anticipate the presence of spyware and stealers among all kinds of malware. While it is not obligatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their ethics is of little concern, and their dignity is already severely tarnished. They have no principles to give up and aim to boost gains.

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