Viecex Review: Legit or Scam? Read This First

Written by Daniel Zimmerman

Recently, Viecex.com site surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather reliable proof that unmistakably indicates it is, actually, a scam site.

Regardless of the promises of the most convenient, dependable, and customer-centric service, Viecex.com does not follow any of them. All this is just a golden wrap around a clear scam, which steals your funds and never returns them. Any stories about gifts, sponsorship from celebrities etc are absent as well.

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Viecex Scam Overview

Originally, Viecex poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another bright marketing point for this platform is backing from celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site claims having significant support from them. To make these claims look real, con actors use AI-generated videos with those celebs promote the scam as the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around an obvious scam.

Viecex.com Scam

Viecex Scam

Initially, Viecex repeats the layout of numerous similar websites. There are quite a few examples, like Weyshare, Venanco or Wefnam. They are completely undistinguishable in terms of visual elements, with small discrepancies in the site header. Other particulars, and sometimes even crypto wallet addresses, are matching. Most likely, all these fraudulent websites are operated by the same group of frauds.

Cryptocurrency Scam Summary

Website Viecex.com
Hosting AS13335 Cloudflare, Inc.
United States, San Francisco
IP Address 104.21.36.72
Threat Type Scam/Fraud
Scam Type Fraudulent offers of cryptocurrency services

How the Viecex Scam Works?

Viecex is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use several website designs, which still share the identical overall layout. Another shared 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 fraud, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign commences. Utilizing bots and paid advertisements (when feasible), scam actors boost the visibility of their scam activities to potential victims. And as I said, crooks do not shy away using generative AI for creating videos with the aforementioned celebs 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.

Cryptoscam ads TIkTok

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

Users receive an encouragement to enroll, enticed by the commitment of obtaining cryptocurrency prizes valued at thousands of dollars, all for free. To enhance the appeal of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are completely baseless.

Step 2: Gaining Traffic

After clicking the promotions, targets end up on a page filled with appealing offers. “Crypto starts with Viecex”, “Your crypto savings are secured with Viecex, “Start earning with Viecex – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that retrieving the promised bonus requires registration. And since nothing questionable happens at this point, unexperienced users happily keep on – especially as the reward appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up 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 mentioned, deceivers bait folks into signing up to get bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Only by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make it at least usable for cryptocurrency purchases, 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

Eventually, any crypto purchases require you to have money on your account. In the case of Viecex, users are also forced 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 committed gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited money and withdraw them.

This is where the first obvious issues start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the site says, you can notice 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 swindlers have no intentions to return your money. But to make the fraud look more legitimate, they’ve made up a whole pack of reasons to decline the withdrawal request. Most of them repeat what Know Your Client guidelines say, but for the Viecex.com they are here exclusively to make the wireout impossible.

By requesting your personal data, scammers just stall hoping for you to accept the loss and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your grand back. And every check 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 Viecex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

  • False Celebrity Sponsorship. Viecex 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. Viecex.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. Viecex 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. Viecex.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%, Viecex preys on the desire for quick profits. Yet, the volatile nature of the cryptocurrency market makes such gains highly unlikely, definitively labeling Viecex as a scam.

What Should I do as a Victim?

If you had to deal with Viecex 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.

  • Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
  • Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
  • Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
  • Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
  • Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

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 masters may reach out to you with particular documents. Alternatively, they may propose you to set up “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency savings. As we previously determined, these deceivers have no intent of returning your funds. So, what can these email messages and browser extensions represent? You guessed it right – that is another side of the deceptive plan designed to throw you into willingly running malicious software onto your computer.

Both extensions and files added to email messages can function as a shell for various malicious code. In this scenario, I expect the presence of spyware and stealers among all forms of malware. While it is not mandatory for scammers to distribute malware, the chance is always greater than zero. As stated, their ethics is of negligible importance, and their reputation is already seriously marred. They have nothing to give up and aim to boost gains.

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Frequently asked questions

Is there any real info on Viecex site?

The vast majority of information posted on the Viecex site is false. It is either fabricated, or a manipulation that misses the context of mentioned events. However, things like quotes or other interactive elements related to current prices may be trustworthy. But I would rather avoid using them as a primary source of information.

Are the Viecex site promices real?

No, there is no legitimate information on the Viecex site. The operators of this site use fabricated details and deceptive tactics to create an appearance of credibility, such as appealing visuals and claims of being a licensed company. However, these claims are false, and the site is part of a larger network of interconnected crypto scam sites designed to defraud victims. The scammers manipulate users into providing sensitive personal information and making deposits, ultimately leading to the loss of funds.

Is there any way to recover my lost funds from Viecex scam?

Unfortunately, recovering funds lost to a scam like Viecex can be extremely challenging, if not impossible. Scammers often operate from obscure locations and use various tactics to cover their tracks, making it difficult to trace or retrieve the stolen funds. In many cases, these scams are designed to exploit victims and disappear once they have obtained the money.

How to spot crypto trading scams in the future?

Spotting crypto trading scams requires vigilance and a critical eye. Here are some tips to help you identify potential crypto trading scams in the future:

  1. Verify Regulation and Licensing. Before proceeding, ensure that the platform or service is regulated and possesses the necessary licenses from relevant authorities. Scammers often operate without proper authorization.
  2. Resist Urgency. Be cautious of tactics that create a false sense of urgency to pressure you into quick decisions. Legitimate investments provide ample time for research and consideration.
  3. Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
  4. Question Unrealistic Promises. Approach offers with unrealistically high returns or guaranteed profits skeptically. If an investment opportunity seems too good to be true, it probably is.
  5. Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.

What should I do as a victim of a Viecex.com scam?

If you have become a victim of a Viecex or similar crypto trading scam, it’s important to take immediate action to minimize further damage and increase the chances of recovering your losses. Here’s what you should do:

  • Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • Seek Legal Advice. Consult with a legal professional who specializes in fraud or financial matters. They can provide advice on potential legal actions you can take to recover your funds.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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