Recently, Vtmarketspro.us website popped up, promoting itself as a platform where you can safely keep cryptocurrency and other assets. I managed to gather credible evidence that unmistakably reveals it is, actually, a scam site.
Regardless of the promises of the most easy, trustworthy, and customer-centric service, Vtmarketspro.us does not fulfill any of them. In fact, all this is just a gilded wrap around a clear scam, which takes your money and never returns them. Any tales about gifts, endorsement from celebrities etc are absent as well.
Vtmarketspro Scam Overview
Originally, Vtmarketspro poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another notable selling point for this service is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, rascals employ AI-generated videos with those celebs advertise the fake crypto service as if it was the best thing in the world. Obviously, 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.
Vtmarketspro Scam
Initially, Vtmarketspro repeats the appearance of many similar online platforms. There are quite a few examples, like Nelutex, Remolex or Boseusdt. They are totally indistinguishable in terms of graphic elements, with minor discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are identical. Probably, all these fraudulent online platforms are led by the same team of swindrels.
Cryptocurrency Scam Summary
| Website | Vtmarketspro.us |
| Hosting | AS13335 Cloudflare, Inc. United States, San Francisco |
| IP Address | 172.67.206.127 |
| Threat Type | Scam/Fraud |
| Scam Type | Fraudulent offers of cryptocurrency services |
How the Vtmarketspro Scam Works?
Vtmarketspro is a part of a large cryptocurrency scam scheme that started circulating actively 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 sophisticated psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.
Step 1: Promotion
To initiate the deceptive scheme, criminals set up and fill accounts on popular social media platforms. They primarily focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and paid advertisements (when feasible), scam actors intensify the exposure of their deceptive activities to potential victims. And as I said, scammers do not shy away using deepfake for creating videos with the mentioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.
Promotions of cryptoscams like Vtmarketspro in TikTok. Most of these videos are AI-generated deepfakes
Users receive an incentive to enroll, enticed by the commitment of getting cryptocurrency rewards valued at thousands of dollars, all for free. To enhance the attractiveness of the offer, fake suggestions of cooperation with a celebrity are added. As you may guess, these assertions are completely baseless.
Step 2: Gaining Traffic
Upon following the promos, victims end up on a page filled with enticing offers. “Crypto starts with Vtmarketspro”, “Your crypto savings are secured with Vtmarketspro, “Start earning with Vtmarketspro – they look rather authoritative. To heat up users and make them proceed to step 3, crooks say that obtaining the promised bonus requires registration. And as nothing questionable happens at this point, unaware users happily proceed – especially as the bonus 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 sign up using your personal information, swindrels will not be able to 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, frauds bait folks into signing up for bonuses. And all the personal information needed for it – username, email, cryptocurrency wallet address – is valuable for user identification. Solely 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, the promised bonus is not available for withdrawal right away. To make at least crypto purchases on the platform with it, you need to top up the account with the sum of a bonus. At this point, the final stage of the scam kicks in.
Step 4: Requesting funds
Obviously, any cryptocurrency purchases require you to have money on your account. In the case of Vtmarketspro, users are also forced to top up to use the bonuses. And this is what creates most 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 participating on this website hoping to use all the credited funds and withdraw them.
This, however, is where the problems start to surface. When comparing 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 swindlers are naught on intentions to return your money. Though to make the denial look more legitimate, they’ve crafted a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what KYC guidelines say, but for the Vtmarketspro.us they are here exclusively to make the withdrawal impossible.
By requesting your personal info, frauds 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 every check 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 Vtmarketspro.us. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Cryptocurrency-Only Transactions. Vtmarketspro.us 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. Vtmarketspro 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. Vtmarketspro 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. Vtmarketspro 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%, Vtmarketspro capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Vtmarketspro.us as a definite scam.
What Should I do as a Victim?
If you had to deal with Vtmarketspro 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 fraud, its masters may reach out to you with specific documents. Alternatively, they may offer you to deploy “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency assets. As we already figured out, these deceivers have no plan of giving back your funds. So, what can these emails and browser plugins represent? You guessed – that is another element of the scam designed to throw you into willingly running destructive applications onto your computer.
Both add-ons and attachments included to email messages can serve as a carrier for different malicious software. In this case, I anticipate the presence of spyware and stealers among all types of malware. While it is not obligatory for scammers to distribute malware, the chance is always greater than zero. As stated, their ethics is of no concern, and their dignity is already seriously marred. They have nothing to lose and intend to maximize gains.
