Visacryp Review: Legit or Scam? Read This First

Recently, Visacryp.com website surfaced, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible proof that clearly confirms it is, actually, a deceptive service.

Regardless of the promises of the most convenient, trustworthy, and client-friendly service, Visacryp.com does not fulfill any of them. In fact, all this is just a gilded wrap around a dirty scam, which takes your funds and never returns them. Any tales about gifts, sponsorship from celebrities etc are absent as well.

Visacryp Scam Overview

Originally, Visacryp poses as a cryptocurrency trading & cryptowallet platform with outstandingly low commission fees. Another notable marketing point for this service is backing from celebrities that are known in the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look real, con actors use deepfake videos with those celebs advertise the scam as if it was 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 a transparent scam.

Visacryp Scam

Initially, Visacryp copies the layout of multiple similar websites. There are quite a few examples, like Vitcoex, Warestox or Cryptcapex. They are completely indistinguishable 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 deceptive sites are led by a single group of scammers.

Cryptocurrency Scam Summary

How the Visacryp Scam Works?

Visacryp is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous website designs, which still share the similar 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To initiate the scam, criminals set up and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and sponsored promotions (when possible), scam actors boost the exposure of their fraudulent activities to potential victims. And as I said, fraudsters do not shy away using generative AI for creating clips with the aforementioned celebrities that advertise 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 Visacryp in TikTok. Most of these videos are AI-generated deepfakes

Step 2: Gaining Traffic

Upon following the promos, users end up on a page filled with attractive offers. “Crypto starts with Visacryp”, “Your crypto savings are secured with Visacryp, “Start earning with Visacryp – they look rather authoritative. To heat up the interest and make the users proceed to step 3, fraudsters say that retrieving the promoted bonus requires registration. And since nothing suspicious happens at this point, unexperienced users happily move 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 information, 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, deceivers bait folks into signing up to get bonuses. And all the personal information needed for it – username, email, crypto wallet address – are valuable for user identification. Solely by gathering this data and selling it further into the Darknet, fraudsters can earn quite a penny. Still, their plans go much further.

As it turns out, the promised bonus is not available to use right away. To make at least crypto purchases on the platform with it, the user should top up the account with the equivalent sum. And this is what starts the final step of the scam.

Step 4: Requesting funds

Obviously, any crypto purchases require having money on your account. With Visacryp, users are also forced to top up to get the bonuses. And this is what creates the majority of the cash flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the transferred funds and withdraw them.

This is where the victim notices the problems. When keeping an eye on the real cryptocurrency wallet vs what the website says, you can spot that no transactions are done whatsoever. And then, when you’d try to withdraw the capital from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that scoundrels have 0 intentions to give your money back. But to make the denial look more legitimate, they’ve elaborated a whole pack of reasons to decline the wireout request. Usually, they repeat what KYC guidelines say, but for the Visacryp.com they are here exclusively to make the withdrawal 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 multiple other checks you should go through before getting your funds back. And each of these checks will uncover 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 Visacryp.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Visacryp 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 specific documents. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we earlier determined, these scoundrels have no intention of restoring your money. So, what can these emails and browser extensions represent? Correct – that is another component of the deceptive plan designed to throw you into deliberately running malicious programs onto your system.

Both extensions and attachments included to emails can function as a shell for different malware. In this situation, I anticipate the presence of spyware and stealers among all forms of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As previously mentioned, their ethics is of no concern, and their dignity is already seriously marred. They have nothing to lose and aim to boost gains.

Frequently asked questions