Investigating Woxdep: Legit or Scam? The Truth Exposed

Written by Daniel Zimmerman

Recently, Woxdep.com site popped up, promoting itself as a place where you can safely store cryptocurrency and other assets. I managed to gather reliable evidence that unmistakably confirms it is, actually, a fraudulent service.

Regardless of the promises of the most user-friendly, reliable, and customer-centric service, Woxdep.com does not follow any of them. All this is just a gilded wrap around a blatant scam, which takes your money and never gives them back. Any stories about gifts, backing from celebrities etc are non-existent as well.

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Woxdep Scam Overview

Originally, Woxdep poses as a crypto trading & cryptowallet platform with outstandingly low commission fees. Another bright selling point for this service is backing from celebrities that have relation to the crypto world. Vitalii Buterin (Ethereum creator), Elon Musk, Jeff Bezos, Bill Gates, Warren Buffet – the site says about being supported by them. To make these claims look more realistic, con actors use deepfake videos with those celebs promote the fraud as if it was the best thing in the world. Obviously, Elon Musk is the most common choise for that. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Woxdep.com Scam

Woxdep Scam

First and foremost, Woxdep repeats the appearance of many similar pages. There are quite a few examples, like Wonezy, Cryptep or Cemonax. They are totally identical in terms of visual elements, with small discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are matching. Probably, all these scam websites are operated by a single gang of scoundrels.

Cryptocurrency Scam Summary

WebsiteWoxdep.com
HostingAS13335 Cloudflare, Inc.
United States, San Francisco
IP Address188.114.96.3
Threat TypeScam/Fraud
Scam TypeFraudulent offers of cryptocurrency services

How the Woxdep Scam Works?

Woxdep is a part of a extensive cryptocurrency scam scheme that started circulating actively in 2023. Rascals who stand behind it use various website designs, which still share the same 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 fraud, criminals establish and fill accounts on popular social media platforms. They mainly focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the marketing campaign commences. Employing bots and paid advertisements (when achievable), scam actors intensify the presence of their deceptive activities to possible victims. And as I said, crooks do not disdain using deepfake for creating videos with the aforementioned celebrities that promote their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

Cryptoscam ads TIkTok

Promotions of cryptoscams like Woxdep in TikTok. Most of these videos are AI-generated deepfakes

Users get an encouragement to register, drawn by the assurance of obtaining cryptocurrency rewards valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, fake suggestions of sponsorship by a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

After clicking the promos, targets end up on a page filled with attractive offers. “Crypto starts with Woxdep”, “Your crypto savings are secured with Woxdep, “Start earning with Woxdep – they look rather authoritative. To heat up users and make them proceed to step 3, scammers say that getting the promoted bonus requires registration. And since nothing concerning happens at this point, unaware users happily keep on – especially as the bonus appears to be right behind the corner.

At this point, it is possible to skip the scam without any losses. Before you sign up using your personal info, 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, deceivers bait folks for registration with bonuses. And all the personal data needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this data and selling it further into the Darknet, crooks can earn quite a penny. Still, 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. At this point, the final stage of the scam begins.

Step 4: Requesting funds

Eventually, any crypto operations require you to have capital on your account. With Woxdep, users are also coerced to top up to get the bonuses. And this is what creates the majority of the money flow to this fraudulent website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this website hoping to use all the credited capital and withdraw them.

This, however, is where the victim notices the problems. When comparing the actual cryptocurrency wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

Needless to say that swindlers have zero intentions to send you money. Though to make the fraud look more legitimate, they’ve crafted a whole pack of reasons to decline the withdrawal request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the wireout impossible.

By requesting your personal information, 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 money back. And each of these checks will share more and more info of yours, which – you guessed it right – will be then sold 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 Woxdep.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

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

What Should I do as a Victim?

If you had to deal with Woxdep 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 scam, rascals may reach out to you with specific files. Alternatively, they may suggest you to deploy “cryptocurrency wallet applications” or “browser extensions” to simplify access to your cryptocurrency assets. As we already figured out, these scoundrels have no plan of giving back your funds. So, what can these messages and browser extensions represent? You guessed it right – this is another component of the scam designed to throw you into deliberately installing destructive programs onto your computer.

Both extensions and attachments added to email messages can serve as a carrier for various malicious code. In this situation, I anticipate the presence of spyware and stealers among other kinds of threats. While it is not mandatory for scammers to distribute malware, the likelihood is always significant. As stated, their morality is of negligible importance, and their reputation is already severely tarnished. They have no scruples to lose and strive to boost gains.

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Frequently asked questions

Is there any real info on Woxdep site?

The vast majority of information posted on the Woxdep 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.

Are the Woxdep site promices real?

No, there is no legitimate information on the Woxdep 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.

Is there any way to recover my lost funds from Woxdep scam?

Unfortunately, recovering funds lost to a scam like Woxdep 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.

How to spot crypto trading scams in the future?

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:

  1. 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.
  2. 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.
  3. Consult Reviews and Feedback. Seek independent reviews and feedback from other traders. While positive reviews can be fabricated, negative reviews often reveal valuable insights.
  4. 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.
  5. Scrutinize Celebrity Endorsements. Exercise skepticism when faced with endorsements from celebrities or public figures. Scammers frequently create fake endorsements to enhance credibility.

What should I do as a victim of a Woxdep.com scam?

If you have become a victim of a Woxdep 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:

  • Document the Events. Gather and safeguard all pertinent information, including emails, screenshots, transaction records, and any correspondence with the scammers. This documentation holds utmost importance for reporting the scam and seeking assistance.
  • Contact Financial Institutions. If you conducted any payments or deposits through your credit card or bank account, promptly notify your financial institution. They might offer assistance in contesting transactions or initiating chargebacks.
  • 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.
  • Inform the Authorities. Lodge an official report with your local law enforcement agency and relevant regulatory bodies within your country. Present them with the amassed evidence. This step instigates investigations and enhances awareness about the scam.
  • Notify Cryptocurrency Exchanges. Should you have employed a cryptocurrency exchange for transactions linked to the scam, inform the exchange about the fraudulent activity. In certain cases, they could extend their assistance.
  • Consult Legal Counsel. Seek counsel from a legal expert specialized in fraud or financial matters. They can provide guidance on potential legal avenues for recovering your funds.
  • Immediately Halt Communication. Once you recognize that you have fallen victim to a scam, cease all communication with the scammers. Refrain from responding to their emails, messages, or phone calls.
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About the author

Daniel Zimmerman

I'm Daniel, a seasoned professional deeply passionate about the realm of security and malware defense. With over a decade of experience in the security industry and a background in writing, I am thrilled to share my expertise through this cybersecurity blog.

Throughout my career, I've had the privilege of working on the front lines of cybersecurity, tirelessly combating emerging threats and safeguarding digital environments. This hands-on experience has allowed me to develop a deep understanding of the ever-evolving landscape of malware and cyber-attacks.

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