Weogex Review: Legit or Scam? Read This First

Recently, Weogex.com service surfaced, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible proof that clearly confirms it is, in fact, a scam site.

Despite the promises of the most easy, dependable, and client-friendly service, Weogex.com does not fulfill any of them. In fact, all this is just a gilded wrap around a clear scam, which steals your money and never returns them. Any stories about bonuses, sponsorship from celebrities etc are nowhere to be found as well.

It is better to prevent, than repair and repent!

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Weogex Scam Overview

Originally, Weogex poses as a cryptocurrency trading & cryptowallet platform with remarkably low commission fees. Another notable marketing point for this site is partnerships with celebrities that are known as crypto activists. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look more realistic, con actors use deepfake videos where those celebrities advertise the fake crypto service as if it was the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around an obvious scam.

Weogex Scam

First and foremost, Weogex shares the design of multiple similar websites. There are quite a few examples, like Denexer, Waiterok or Tradexton. They are entirely indistinguishable in terms of graphic elements, with slight discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are unchanged. Presumably, all these deceptive online platforms are led by the same gang of scammers.

Cryptocurrency Scam Summary

How the Weogex Scam Works?

Weogex is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use several website designs, which still share the identical 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 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 well-liked social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Using bots and paid advertisements (when achievable), fraud actors increase the exposure of their scam activities to possible victims. And as I said, scammers do not shy away using generative AI for creating clips with the mentioned celebrities that promote 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 Weogex in TikTok. Most of these videos are AI-generated deepfakes

Users receive an incentive to sign up, attracted by the assurance of getting cryptocurrency prizes valued at hundreds of dollars, all free of charge. To augment the attractiveness of the offer, false suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, targets end up on a page filled with attractive offers. “Crypto starts with Weogex”, “Your crypto savings are secured with Weogex, “Start earning with Weogex – they look rather authoritative. To heat up the interest and make the users proceed to step 3, crooks say that claiming the pledged bonus requires registration. And since nothing questionable happens at this point, unaware users happily keep on – 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 register using your personal info, frauds will not 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, frauds bait folks for registration with 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, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, you cannot use the claimed bonus right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. And this is what starts the final stage of the scam.

Step 4: Requesting funds

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

This is where the first obvious problems start to surface. When comparing the actual crypto wallet vs what the site 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

Needless to say that scoundrels are naught on intentions to return your money. Though to make the denial look more realistic, they’ve made up a whole pack of reasons to decline the transfer-out request. Most of them repeat what KYC regulations say, but in this case they are here only to make the withdrawal impossible.

By requesting your personal data, deceivers just stall hoping for you to understand that you’ve been scammed 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 info of yours, 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 Weogex.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Weogex 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 timeline of the fraud, its masters may contact you with particular documents. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your crypto savings. As we previously figured out, these rascals have no plan of restoring your money. So, what do these messages and browser add-ons represent? Correct – this is another component of the fraudulent scheme designed to throw you into deliberately installing harmful programs onto your computer.

Both extensions and attachments included to emails can serve as a carrier for different malicious code. In this scenario, I expect 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 noted, their morality is of no concern, and their reputation is already seriously marred. They have no scruples to lose and aim to boost gains.

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