Welumex Review: Legit or Scam? Read This First

Recently, Welumex.com website surfaced, promoting itself as a platform where you can securely keep cryptocurrency and other assets. I managed to gather credible supporting information that unmistakably reveals it is, in fact, a scam service.

Despite what Welumex site states, they won’t return your funds. Even though the figures displayed in the “member area”, there is zero ability to take out even a cent. All pledges regarding crypto incentives are empty as well.

It is better to prevent, than repair and repent!

When we talk about the intrusion of unfamiliar programs into your computer’s work, the proverb “Forewarned is forearmed” describes the situation as accurately as possible. Gridinsoft Anti-Malware is exactly the tool that is always useful to have in your armory: fast, efficient, up-to-date. It is appropriate to use it as an emergency help at the slightest suspicion of infection.

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Welumex Scam Overview

The primary service that Welumex strives to provide is a secure and user-friendly cryptocurrency wallet service. The site pledges crypto exchange solutions, tools for controlling wallets, transfers, dashboards, and the like. In reality, they endeavor to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it actually solely serves as a cover intended to mislead the cautious.

Welumex Scam

First and foremost, Welumex reproduces the layout of numerous similar pages. There are quite a few examples, like Twixand, Payxmusk or Koybex. They are entirely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Probably, all these deceptive online platforms are managed by the same gang of frauds.

Cryptocurrency Scam Summary

How the Welumex Scam Works?

Welumex is yet another website within a wide-ranging network of associated crypto scam platforms. The operators utilize diverse brand titles and sites, like Welumex.com, to capture victims. Nevertheless, these fraudulent sites possess identical designs, terms of service, and About information. This reveals their beginnings as components of the identical criminal network, which promotes the identical type of scam under diverse covers. The deceivers just copy the equal fraudulent site under different names to mislead users into assuming they are joining a fresh platform. However, in reality, it’s the same group of swindlers orchestrating the fraudulent promises and efforts to grab deposited cryptocurrency. The operators shrewdly employ psychological maneuvers and enticing invitations to carry out their dishonest plots.

Step 1: Spreading

To start the scam, criminals create and fill accounts on popular social media platforms. They primarily target Facebook, Instagram, Twitter, and TikTok. Subsequently, the advertising campaign starts. Utilizing bots and paid ads (when possible), fraud actors boost the visibility of their deceptive activities to possible victims. This strategy permits them to cast a broad net and interact with their targeted audience. The latter commonly consists of cryptocurrency enthusiastic individuals seeking opportunities to make profits.

Users get an incentive to register, drawn by the assurance of obtaining crypto benefits valued at thousands of dollars, all without cost. To increase the attractiveness of the offer, false claims of cooperation with a celebrity are added. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Individuals who show interest go to Welumex.com via links featured in promotions or bot-generated posts. The website uses captivating visuals, design features that appear authentic, and claims of possessing a legitimate license, all aimed to project an initial impression of trustworthiness.

Step 3: Data Gathering

To claim their rewards, users need to deliberately create an account on Welumex and receive instructions to submit sensitive and private data during the sign-up procedure. This comprises linking their cryptocurrency wallets, sharing email addresses, supplying phone numbers, sending in identification documents, and the like.

Step 4: Requesting funds

Once registered, users notice substantial amounts of cryptocurrency, valued at hundreds of dollars, within their Welumex wallets. Nonetheless, as it usually happens with such bonuses, you can’t withdraw them before making a deposit. Typically, a payment of $100 is asked to access the sign-up bonus. This stipulation serves as the trap that eventually results to the money loss.

Step 5: Disappear

The moment the payment is sent, the fraudsters terminate all contact. They go ahead to block users, erase accounts, and vanish with both the deposited capital and essential private details. The phony prizes continue to be perpetually uncredited, as they lack real existence. They operate exclusively as a fraudulent ploy. This method forms the foundation for the fraudsters’ capacity to mislead victims and embezzle hard-earned money through their duplicative online crypto scheme.

Signs of Scam

I gathered several facts that point at the scammy nature of the Welumex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Welumex 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 course of the fraud, its masters may get in touch with you with particular files. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto savings. As we already determined, these scammers have no intention of restoring your money. So, what do these email messages and browser plugins represent? You guessed it right – this is another component of the deceptive plan designed to throw you into willingly installing malicious software onto your device.

Both plugins and files added to email messages can function as a carrier for diverse malware. In this scenario, I foresee the presence of spyware and stealers among other forms of threats. While it is not obligatory for scammers to distribute malware, the chance is always existent. As stated, their ethics is of negligible importance, and their reputation is already deeply compromised. They have nothing to give up and aim to boost gains.

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.

Trojan Killer for “spyware” removal on locked PC

In situations where it becomes impossible to download antivirus applications directly onto the infected computer due to malware blocking access to websites, an alternative solution is to utilize the Trojan Killer application.

There is a really little number of security tools that are able to be set up on the USB drives, and antiviruses that can do so in most cases require to obtain quite an expensive license. For this instance, I can recommend you to use another solution of GridinSoft - Trojan Killer Portable. It has a 14-days cost-free trial mode that offers the entire features of the paid version. This term will definitely be 100% enough to wipe malware out.

Trojan Killer is a valuable tool in your cybersecurity arsenal, helping you to effectively remove malware from infected computers. Now, we will walk you through the process of using Trojan Killer from a USB flash drive to scan and remove malware on an infected PC. Remember, always obtain permission to scan and remove malware from a computer that you do not own.

Step 1: Download & Install Trojan Killer on a Clean Computer:

1. Go to the official GridinSoft website (gridinsoft.com) and download Trojan Killer to a computer that is not infected.

2. Insert a USB flash drive into this computer.

3. Install Trojan Killer to the "removable drive" following the on-screen instructions.

4. Once the installation is complete, launch Trojan Killer.

Step 2: Update Signature Databases:

5. After launching Trojan Killer, ensure that your computer is connected to the Internet.

6. Click "Update" icon to download the latest signature databases, which will ensure the tool can detect the most recent threats.

Step 3: Scan the Infected PC:

7. Safely eject the USB flash drive from the clean computer.

8. Boot the infected computer to the Safe Mode.

9. Insert the USB flash drive.

10. Run tk.exe

11. Once the program is open, click on "Full Scan" to begin the malware scanning process.

Step 4: Remove Found Threats:

12. After the scan is complete, Trojan Killer will display a list of detected threats.

13. Click on "Cure PC!" to remove the identified malware from the infected PC.

14. Follow any additional on-screen prompts to complete the removal process.

Step 5: Restart Your Computer:

15. Once the threats are removed, click on "Restart PC" to reboot your computer.

16. Remove the USB flash drive from the infected computer.

Congratulations on effectively removing spyware and the concealed threats from your computer! You can now have peace of mind, knowing that they won't resurface again. Thanks to Gridinsoft's capabilities and commitment to cybersecurity, your system is now protected.

Frequently asked questions

The truth about Welumex

Name: Welumex

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Welumex, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Welumex scam, techniques for recognizing it, and, most crucially, ways to evade becoming a victim.

Operating System: All

Application Category: Crypto Scams

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