The Viva-Dex Scam – What You Need To Know

Recently, Viva-dex.com website appeared, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather reliable supporting information that unmistakably confirms it is, actually, a fraudulent site.

Regardless of the promises of the most user-friendly, trustworthy, and client-friendly service, Viva-dex.com does not offer any of them. In fact, all this is just a shiny wrap around a dirty scam, which steals your funds and never returns them. Any stories about gifts, sponsorship from celebrities etc are absent as well.

It is better to prevent, than repair and repent!

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Viva-Dex Scam Overview

Originally, Viva-Dex poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another highlighted marketing point for this service is backing from celebrities that are known in the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site says about being supported by them. To make these claims look more realistic, rascals employ deepfake videos where those celebrities promote the scam as the best thing in the world. For known reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a blatant wrap around an obvious scam.

Viva-Dex Scam

To begin with, Viva-Dex copies the design of numerous similar websites. There are quite a few examples, like Luxspacebit, Showxbit or Fx. They are totally identical in terms of graphic elements, with small discrepancies in the website header. Other particulars, and at times even crypto wallet addresses, are identical. Probably, all these fraudulent websites are led by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Viva-Dex Scam Works?

Viva-Dex is a part of a large cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use numerous 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 authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the fraud, criminals create and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid advertisements (when feasible), fraud actors increase the visibility of their deceptive activities to possible victims. And as I said, fraudsters do not disdain using generative AI 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 joins the service immediately.

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

Users receive a stimulus to sign up, drawn by the assurance of receiving crypto rewards valued at thousands of dollars, all for free. To enhance the attractiveness of the offer, false claims of cooperation with a celebrity are added. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After following the promos, targets end up on a page filled with enticing offers. “Crypto starts with Viva-Dex”, “Your crypto savings are secured with Viva-Dex, “Start earning with Viva-Dex – they look rather authoritative. To heat up users and make them proceed to step 3, fraudsters say that obtaining the pledged bonus requires registration. And since nothing concerning happens at this point, uninformed users happily proceed – especially since the bonus appears to be right behind the corner.

At this point, it is possible to steer away from the scam without any losses. Before you register using your personal information, crooks 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 into registration to get bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Exclusively by gathering this information and selling it further into the Darknet, swindlers can earn quite a penny. Still, 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, the user should top up the account with the sum of a bonus. At this point, the final stage of the scam begins.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require having funds on your account. In the case of Viva-Dex, users are also coerced to top up to use the bonuses. And this is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the committed gift (usually $500-1000 in USDT), and may start engaging on this website hoping to use all the credited money and withdraw them.

This is where the first obvious problems start to surface. When keeping an eye on the actual cryptocurrency wallet vs what the website says, you can notice 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 0 intentions to send you money. Though to make the fraud look more realistic, they’ve crafted a whole bunch of reasons to decline the wireout request. Most of them repeat what KYC regulations say, but in this case they are here exclusively to make the wireout impossible.

By asking for your personal data, scammers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are a dozen other checks you would desperately need to undergo before getting your money back. And every check will share 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 Viva-dex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Viva-Dex 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 scam, fraudsters may reach out to you with particular documents. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to simplify access to your crypto funds. As we previously determined, these deceivers have no intention of returning your funds. So, what can these email messages and browser plugins represent? You guessed it right – this is another component of the scam designed to entice you into willingly running harmful software onto your device.

Both plugins and attachments attached to email messages can function as a shell for different malicious software. In this scenario, I foresee the presence of spyware and stealers among other forms of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always greater than zero. As stated, their conscience is of little concern, and their dignity is already neck deep in mud. They have nothing to give up and strive to boost profits.

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