Recently, Warmbit.com service surfaced, promoting itself as a place to store cryptocurrency and other assets safely. I managed to gather reliable supporting information that clearly reveals it is, actually, a scam platform.
Despite the promises of the most easy, reliable, and customer-centric service, Warmbit.com does not follow any of them. All this is just a gilded wrap around a clear scam, which steals your funds and never gives them back. Any stories about gifts, backing from celebrities etc are nowhere to be found as well.
Warmbit Scam Overview
Originally, Warmbit poses as a cryptocurrency trading & cryptowallet service with exceptionally low commission fees. Another notable 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, rascals use AI-generated videos with those celebs promote the fraud as the best thing in the world. For obvious reasons, Elon Musk is the most common among them. But, as I said in the introduction, all this is just a glaring wrap around an obvious scam.
Initially, Warmbit repeats the appearance of multiple equivalent websites. There are quite a few examples, like Wdcagigpt, Weotax or Xmfox. They are completely undistinguishable in terms of graphic elements, with small discrepancies in the site header. Other details, and sometimes even crypto wallet addresses, are matching. Presumably, all these fraudulent online platforms are led by a single gang of frauds.
Cryptocurrency Scam Summary
Website | Warmbit.com |
Hosting | AS13335 Cloudflare, Inc. United States, San Francisco |
IP Address | 172.67.216.68 |
Threat Type | Scam/Fraud |
Scam Type | Fraudulent offers of cryptocurrency services |
How the Warmbit Scam Works?
Warmbit is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Swindlers 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 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 begins. Utilizing bots and paid promotions (when possible), scam actors boost the visibility of their scam activities to possible victims. And as I said, fraudsters do not disdain using deepfake for creating videos with the aforementioned celebrities 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.
Users receive a stimulus to sign up, drawn by the promise of getting crypto benefits valued at thousands of dollars, all free of charge. To augment the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.
Step 2: Gaining Traffic
Upon following the promos, victims end up on a page filled with appealing offers. “Crypto starts with Warmbit”, “Your crypto savings are secured with Warmbit, “Start earning with Warmbit – they look rather reliable. To heat up users and make them proceed to step 3, scammers say that getting the promised bonus requires registration. And since nothing questionable happens at this point, uninformed users happily move on – especially since the bonus appears to be right behind the corner.
This is the last stage when it is possible to skip the scam without any losses. Before you register using your personal information, frauds will not be able to earn even a penny from your presence on the website.
Step 3: Data Gathering
This is the starting poing of the main fraud action. As I just said, deceivers bait folks into registration to get bonuses. And all the personal info needed for it – email, username, crypto wallet address – is 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 claimed bonus is not available to use right away. To make at least crypto purchases on the platform with it, you need to 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 cryptocurrency purchases require having money on your account. In the case of Warmbit, users are also coerced to top up to claim the bonuses. And these top ups 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 site hoping to use all the transferred funds and withdraw them.
This is where the victim notices the issues. When comparing the actual cryptocurrency wallet vs what the website says, you can observe 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 fraudsters have 0 intentions to return your money. Though to make it look more realistic, they’ve developed a whole bunch of reasons to decline the withdrawal request. Most of them repeat what Know Your Client requirements say, but in this case they are here exclusively to make the wireout impossible.
By asking for your personal info, deceivers 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 uncover more and more information, which – you guessed it right – will be then traded 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 Warmbit.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.
- Unsubstantiated Credibility. Warmbit employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
- Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Warmbit exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Warmbit as a scam.
- Dubious Corporate Information. Warmbit arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
- Exclusive Cryptocurrency Payments. Warmbit.com solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
- Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
- Groundless Hype Tactics. Warmbit utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.
What Should I do as a Victim?
If you had to deal with Warmbit 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 the scam to authorities. Search for local authorities responsible for financial frauds, and also notify wallet providers and social networks via their tech support. It is essential to make the further operations of these scammers much harder.
- Tell your close friends. That step is similar to reporting to the authorities, and has similar effects. By posting info about scam crypto service, you decrease the pool of people they can fool.
- Get evidence. Screenshot or save all the information related to the website. URL, screenshot of a main page, login window, EULA, account top-up menu, wallet addresses – all these things may be useful for authorities to find the scammers.
- Check whether you can ask for a refund. As I’ve said above, crypto payments do not fall under refund policies in most banks. Nonetheless, in some circumstances, it is still possible. Never lose hope until you actually confirm it is gone.
- Make your mistake your lesson. Financial losses are always a reason for frustration, but let’s imagine it was a pay for scam revealing courses. Remember the key features of these crypto scam sites, the way they attract people and what they promise. In the future, you will easily recognize a trap of spending no money.
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, fraudsters may reach out to you with specific documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we earlier determined, these deceivers have no intention of returning your capital. So, what do these emails and browser extensions represent? You guessed – this is another component of the fraudulent scheme designed to entice you into willingly running destructive software onto your system.
Both plugins and attachments included to email messages can act as a carrier for different malicious software. In this scenario, I anticipate the presence of spyware and stealers among other types of threats. While it is not obligatory for scammers to distribute malware, the chance is always significant. As previously mentioned, their ethics is of no concern, and their reputation is already seriously marred. They have nothing to give up and intend to maximize profits.
Remove spyware with Gridinsoft Anti-Malware
We have also been using this software on our systems ever since, and it has always been successful in detecting viruses. It has blocked the most common malicious programs as shown from our tests with the software, and we assure you that it can remove spyware as well as other malware hiding on your computer.
To use Gridinsoft for remove malicious threats, follow the steps below:
1. Begin by downloading Gridinsoft Anti-Malware, accessible via the blue button below or directly from the official website gridinsoft.com.
2.Once the Gridinsoft setup file (setup-gridinsoft-fix.exe) is downloaded, execute it by clicking on the file.
3.Follow the installation setup wizard's instructions diligently.
4. Access the "Scan Tab" on the application's start screen and launch a comprehensive "Full Scan" to examine your entire computer. This inclusive scan encompasses the memory, startup items, the registry, services, drivers, and all files, ensuring that it detects malware hidden in all possible locations.
Be patient, as the scan duration depends on the number of files and your computer's hardware capabilities. Use this time to relax or attend to other tasks.
5. Upon completion, Anti-Malware will present a detailed report containing all the detected malicious items and threats on your PC.
6. Select all the identified items from the report and confidently click the "Clean Now" button. This action will safely remove the malicious files from your computer, transferring them to the secure quarantine zone of the anti-malware program to prevent any further harmful actions.
8. If prompted, restart your computer to finalize the full system scan procedure. This step is crucial to ensure thorough removal of any remaining threats. After the restart, Gridinsoft Anti-Malware will open and display a message confirming the completion of the scan.
Remember Gridinsoft offers a 6-day free trial. This means you can take advantage of the trial period at no cost to experience the full benefits of the software and prevent any future malware infections on your system. Embrace this opportunity to fortify your computer's security without any financial commitment.
Frequently asked questions
The vast majority of information posted on the Warmbit 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.
No, there is no legitimate information on the Warmbit 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.
Unfortunately, recovering funds lost to a scam like Warmbit 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.
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:
- 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.
- 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.
- Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
- 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.
- Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.
If you have become a victim of a Warmbit 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:
- Cease Communication. If you realize that you’ve been scammed, stop all communication with the scammers. Do not respond to their emails, messages, or calls.
- Document Everything. Gather and preserve all relevant information, including emails, screenshots, transaction records, and any communication you had with the scammers. This documentation will be crucial for reporting the scam and seeking assistance.
- Report to Authorities. File a report with your local law enforcement agency and any relevant regulatory authorities in your country. Provide them with all the evidence you have gathered. This helps initiate investigations and raises awareness about the scam.
- Contact Financial Institutions. If you made any payments or deposits using your credit card or bank account, contact your financial institution immediately. They may be able to help you with disputing transactions or initiating a chargeback.
- 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.
- Notify Cryptocurrency Exchanges. If you used a cryptocurrency exchange to make transactions related to the scam, notify the exchange about the fraudulent activity. They may be able to assist you in some cases.
- Monitor Your Accounts. Keep a close eye on your financial and online accounts for any suspicious activity. Change passwords and enable two-factor authentication wherever possible.