The most innovative people on the internet these days seem to be scammers. There are no limits to what they do online just to scam people. The latest case I just saw is that they can create cryptocurrency exchange and actively market them to fool people into believing that they are dealing with genuine exchanges.
A look at Cryptoequs shows that this is one of such sites that you will do well to avoid putting your cryptocurrency in. This is because bringing it out will be impossible.
A look at the Cryptoequs site shows that it has everything it takes to deceive new and experienced traders except a clear indication that should have raised a red flag in which it promised “allowing” users reach an income of $10,000.
Ordinarily, this ought to be a red flag to any experienced investor or trader, but the fact that there are many people who are too greedy to notice the spirit behind the letter makes it a potent hot button that will tempt many to start using the “exchange”.
Scammers Can Be in Any Forum
Sometimes, we find scams and scammers from the most unexpected places especially when they go out of their way to promote their phony projects. The Cryptoequs promoter was seen in a forum advertising bitcoin trade at a price far below the current market price.
“Hello and Merry Christmas. In the spirit of giving this holiday, I am selling 5 BTC for the following price rates:0.1 to 0.5BTC @ $3,000 BTC/USD, 0.5 to 1.0BTC @ $2,900 BTC/USD, 1.0 to 3.0BTC @ $2,750 BTC/USD”
Of course we were not certain that the promoter is the owner of the site, but whoever is selling a bitcoin at a loss of $1,500 was worthy of attention. A further probe showed that he was referring people to Cryptoequs “for his protection”.
“For my protection against scammers and bullshitters and to ensure Im not selling to some scumbag terrorist I will only conduct business on the trusted exchange where I do all my trading, Cryptoequs.com and by strict compliance to the rules below. This is for my safety and yours.”
Creating Impression of Vulnerability
It is common practice for scammers to mention scam “just to protect themselves” but the reality is that they are the ones that people should be protected from. That not precluding the fact that scammers making such offers of cheap bitcoin sale will of course attract fellow scammers as well as honest buyers.
Having said that, the Cryptoequs promoter went on to state the steps required to make trade with him on the website. Pray why would anyone want to trade thousands of dollars worth of bitcoin on an obscure exchange just because a random fellow recommended it?
2 Months Old Exchange With A Million Users?
We decided to probe the site further and found that it was registered just 2 months ago, but the site content claims that it has more than one million users, furthermore, as seen with traditional scam sites, the emphasis of the site is on its trustworthiness:
“Among the many sites that provide Bitcoin exchange services, a positive Reputation CRYPTOEQUS makes it worthy user trust all over the world. With a customer base of more than 1 000 000, the Platform can be recognized as one that can be relied upon. By starting your Bitcoin trading on a platform with a significant history, you will benefit from a deep understanding of the market and customer needs.”
Beware When they Hype Integrity
At Cryptoinfowatch, we have always maintained that scammers tend to want to highlight trust as a virtue to actually gain the trust of victims enough to make them part with their money. The site went further to add credibility to its virtues, all in a bid to convince you to put in your crypto.
“While the search for a reliable online exchange can be a complex task, the credibility of the platform with a wide reach and positive reputation among its users can save your time. CRYPTOEQUS is a Bitcoin Trading Platform that combines important features: increased security, variety of options and high liquidity of the market. The team makes every effort to make Your trade on the platform is the most convenient and safe.”
Luring Users With Promises of Big Gains
The promoters of Cryptoequs are going further by contacting people asking them to help withdraw funds trapped in the exchange “because they cannot conveniently withdraw bitcoin from their country”
One of the people contacted by the Cryptoequs promoters with username Playboy654 wrote:
“Today I received a message from some random person asking for help to withdraw his bitcoins to his wallet since that exchange is banned in his country.
He sent the exchange link to cryptoequs and also sent 2.87BTC to the wallet I opened at his request at the exchange, but when I tried withdrawing those funds into the bitcoin address he gave me, they asked me to validate the account by depositing 0.05BTC.”
What is happening with this scam is that the scammers are luring people to their exchange and showing them bogus bitcoin addresses containing funds that prompt people to pay in some bitcoins to validate accounts before they can withdraw the funds.
Users who are gullible enough to send the validation payments lose their cryptocurrencies. Those who also register on the site and deposit funds for trading will not be able to withdraw the funds after any trade.
Phishing With Website and App
The exchange wallet is known to be clear fake while their app is unsafe and will naturally be blocked by your antivirus, but if bypassed, you’ll be left with an app that ensures that your private keys are exposed to scammers who will most likely steal your cryptocurrencies.
Findingnemo, a user who tried to download the app said,
“More info for this scam site,they asked the people to download their official APP of CryptoEqus APP but it is not compatible with any of the operating system like Linux,Mac or Windows,I personally tried installing looks much shady behaviour from that app my Antivirus removed that malware from my system so maybe a phishing app to copy your clipboard.”
Scams come in differnt shades, Cryptoequs is a clever scam that shows a scammer create cryptocurrency exchange to steal crypto from people. The website is very neat and impressive but bear in mind that a clean-looking site is can be built for any scammer.
Do not trade on this platform or send them money. It is an active scam, with a domain age of 2 months, the promoters are hoping to be in business for some months.
What is your experience with Cryptoequs? Send in your comments in the comment box below.