Zeywex Review: Legit or Scam? Read This First

Recently, Zeywex.com service popped up, promoting itself as a platform to store cryptocurrency and other assets securely. I managed to gather credible supporting information that unmistakably reveals it is, actually, a fraudulent platform.

Despite what Zeywex site says, they will never pay off your money. Despite the numbers displayed in the “member area”, there is zero possibility to withdraw even a coin. All promises regarding crypto rewards are baseless as well.

Zeywex Scam Overview

The key service that Zeywex attempts to provide is a secure and convenient crypto wallet service. The website promises crypto exchange services, tools for handling wallets, transfers, dashboards, and similar functions. In reality, they endeavor to emulate the functionality of a crypto trading platform, akin to Binance or Coinbase. However, it in actuality solely serves as a cover needed to deceive the cautious.

Zeywex Scam

To begin with, Zeywex reproduces the appearance of multiple similar websites. There are quite a few examples, like Xwgcoin, Veselex or Uzorex. They are entirely indistinguishable in terms of visual elements, with small discrepancies in the site header. Other specific elements, and at times even crypto wallet addresses, are the same. Probably, all these fraudulent websites are operated by a single team of fraudsters.

Cryptocurrency Scam Summary

How the Zeywex Scam Works?

Zeywex is yet another webpage within a vast network of interconnected crypto fraudulent webpages. The managers employ various brand names and websites, like Zeywex.com, to ensnare victims. Nevertheless, these fraudulent websites possess the same website designs, terms of service, and About information. This reveals their beginnings as a part of the identical fraudulent network, which promotes the similar mode of fraud under different appearances. The deceivers merely replicate the identical deceptive site under diverse names to mislead users into assuming they are joining a fresh venture. However, in actuality, it’s the same group of swindlers orchestrating the misleading commitments and undertakings to seize deposited cryptocurrency. The managers skillfully employ psychological maneuvers and appealing invitations to implement their dishonest plots.

Step 1: Spreading

To start the fraud, criminals create and fill accounts on popular social media platforms. They generally target Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign begins. Employing bots and paid promotions (when feasible), fraud actors intensify the presence of their fraudulent activities to possible victims. This approach enables them to cast a wide net and engage with their aimed spectators. The latter commonly comprises of cryptocurrency fans seeking prospects to make profits.

Step 2: Gaining Traffic

People who show interest visit Zeywex.com via links present in ads or robotic posts. The site utilizes captivating visuals, design elements that appear authentic, and assertions of possessing a valid license, all designed to project an initial impression of credibility.

Step 3: Data Gathering

To redeem their prizes, users need to deliberately sign up on Zeywex and get guidance to provide sensitive and personal information throughout the registration procedure. This comprises linking their cryptocurrency wallets, revealing email addresses, specifying phone numbers, submitting identification papers, and the like.

Step 4: Requesting funds

Once registered, users witness considerable amounts of cryptocurrency, valued at hundreds of dollars, within their Zeywex wallets. Nonetheless, as is typical with such rewards, you can’t withdraw them ahead of making a deposit. Usually, a deposit of $100 is required to access the sign-up bonus. This prerequisite serves as the trap that ultimately leads to the money loss.

Step 5: Disappear

Signs of Scam

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

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

What Should I do as a Victim?

If you had to deal with Zeywex 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 contact you with particular documents. Alternatively, they may propose you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your cryptocurrency funds. As we previously determined, these scoundrels have no intention of restoring your capital. So, what do these messages and browser add-ons represent? You guessed – that is another side of the deceptive plan designed to throw you into deliberately running destructive applications onto your device.

Both extensions and attachments added to emails can serve as a shell for diverse malicious software. In this situation, I expect the presence of spyware and stealers among all kinds of malware. While it is not obligatory for scammers to distribute malware, the likelihood is always above zero. As stated, their ethics is of negligible importance, and their dignity is already severely tarnished. They have no scruples to lose and strive to maximize revenues.

Frequently asked questions