Is Wetarex Legit or Another Scam? The Truth Revealed

Recently, Wetarex.com website surfaced, promoting itself as a platform to keep cryptocurrency and other assets safely. I managed to gather reliable evidence that clearly indicates it is, in truth, a fraudulent service.

Despite what Wetarex site states, they won’t ever pay off your funds. Regardless of the numbers displayed in the “member area”, there is zero means to take out even a coin. All pledges regarding crypto bonuses 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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Wetarex Scam Overview

The primary feature that Wetarex aims to provide is a protected and user-friendly cryptocurrency wallet service. The site promises crypto exchange solutions, tools for handling wallets, transfers, dashboards, and the like. In truth, they endeavor to emulate the functionality of a crypto trading platform, like Binance or Coinbase. However, it in actuality solely serves as a shell intended to fool the cautious.

Wetarex Scam

To begin with, Wetarex imitates the layout of many similar websites. There are quite a few examples, like Ternbit, Spacevil or Qbgnkls. They are entirely indistinguishable in terms of graphic elements, with small discrepancies in the webpage header. Other specific elements, and sometimes even crypto wallet addresses, are matching. Probably, all these scam online platforms are managed by a single group of fraudsters.

Cryptocurrency Scam Summary

How the Wetarex Scam Works?

Wetarex is yet another online platform within a wide-ranging network of interconnected crypto deceptive webpages. The operators employ diverse brand names and sites, like Wetarex.com, to capture victims. However, these fraudulent sites share matching designs, terms of service, and About Us information. This reveals their sources as components of the identical fraudulent network, which endorses the same mode of deception under various disguises. The fraudsters merely replicate the identical deceptive website under diverse names to fool users into assuming they are participating in a fresh opportunity. However, in reality, it’s the identical system of scammers orchestrating the fraudulent pledges and undertakings to seize deposited cryptocurrency. The operators skillfully make use of psychological strategies and enticing invitations to carry out their deceitful plans.

Step 1: Spreading

To begin the fraud, criminals create and fill accounts on popular social media platforms. They generally aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Using bots and paid ads (when possible), fraud actors intensify the visibility of their deceptive activities to potential victims. This tactic enables them to create an extensive net and engage with their aimed viewers. The latter usually comprises of cryptocurrency fans searching for chances to generate profits.

Users receive a stimulus to enroll, drawn by the commitment of receiving crypto prizes valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, false claims of cooperation with a celebrity are added. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Individuals who demonstrate interest go to Wetarex.com via links included in advertisements or robotic posts. The website uses captivating visuals, design aspects that appear authentic, and claims of having a valid license, all designed to present an initial impression of reliability.

Step 3: Data Gathering

To claim their prizes, users are required to proactively sign up on Wetarex and receive prompts to provide sensitive and personal data during the sign-up process. This comprises linking their cryptocurrency wallets, providing email addresses, specifying phone numbers, submitting identification papers, and more.

Step 4: Requesting funds

Once enrolled, users observe considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Wetarex wallets. Nonetheless, as it usually happens with such rewards, you are unable to withdraw them prior to topping up your account. Normally, a payment of $100 is asked to get the sign-up bonus. This stipulation serves as the enticement that ultimately culminates to the money loss.

Step 5: Disappear

The instant the funds transfer is made, the deceivers cease all contact. They proceed to restrict users, delete accounts, and disappear with both the deposited money and vital personal data. The fictitious rewards persist perpetually uncredited, as they lack real existence. They function exclusively as a phishing ploy. This technique forms the foundation for the scammers’ capability to mislead victims and steal hard-earned earnings through their duplicative online crypto fraud.

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Wetarex 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, scoundrels may reach out to you with specific files. Alternatively, they may suggest you to set up “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we earlier determined, these deceivers have no intention of restoring your funds. So, what can these messages and browser plugins represent? Correct – that is another component of the fraudulent scheme designed to throw you into willingly installing destructive software onto your system.

Both plugins and files added to emails can serve as a shell for diverse malware. In this situation, I foresee the presence of spyware and stealers among all types of malicious programs. While it is not mandatory for scammers to distribute malware, the probability is always above zero. As stated, their conscience is of negligible importance, and their dignity is already seriously marred. They have no scruples to lose and intend to boost 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.

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 Wetarex

Name: Wetarex

Description: Cryptocurrency scams continue to increase as digital assets achieve mainstream adoption. A recent example of such a scam involves Wetarex, a fraudulent crypto exchange that entices victims with promises of free crypto giveaways. This detailed article will extensively examine the operations of the Wetarex 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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