Fake WEX Emails Advertise Ponzi Schemes and Bitcoin Doublers

Ever since BTC-e rebranded to WEX, someone has been purposefully trying to discredit the company. More specifically, someone is faking emails from WEX in an attempt to defraud cryptocurrency users. So far, we have seen several attempts to make people send Bitcoin or partake in a BTC doubler. It’s a very disturbing turn of events, and one that people need to be extremely wary of. It is unclear who is behind this campaign, though.

Beware of Fake WEX Emails

It is evident the change from BTC-e to WEX has not gone by unnoticed by any means. Ever since the former Bitcoin exchange got shut down and announced it would relaunch under a different name, people have been incredibly concerned over another development. While WEX is operating just fine and seems to be legitimate for all intents and purposes, someone is impersonating the company. A few fake emails have been sent to former BTC-e and current WEX users already.

The first of these emails appeared at the end of September. In the email, the “WEX” team claims the launch of its platform has gone well. Users are invited to partake in a bonus incentive program, which will reward them for depositing Bitcoin to a specific address. The email promises 40% profits within two days, with instant bonuses being offered to people who deposit over 5 BTC. It is unclear where those profits would come from or how they would be generated.

About a month later, those users may have received a second email from the “WEX” team. This email contains a passcode to be kept somewhere safe. There is also mention of another short-term VIP investment program providing a 150% return after five days. The aforementioned passcode is to be used to claim the bonus over time. The email address associated with this message is exactly the same as that of the previous email. It makes no sense for people to invest in such a program without doing so through the website itself, to begin with.

About two days ago, the first mention was made to a bitcoin doubler by the name of Bitcoin Bliz. Rather than provide email recipients with a Bitcoin deposit address, the sender linked to a website which was masked as a subpage of the WEX domain. Hovering over this URL shows it is redirecting users to the Argus Aircraft website, which should be avoided at all costs for the time being. It is evident these attempts will claim some victims sooner or later. There are a lot of people who have no idea about these scams, yet who still hold a Bitcoin balance.

This bitcoin doubler made an interesting return appearance in another email earlier today. The email, purportedly from WEX, refers to Bitcoin Bliz as the most trusted bitcoin doubler in existence today. Every Bitcoin user knows that doublers will not work whatsoever, as they are Ponzi schemes at best. Some people may get their money back, but the rest of these programs will simply take your money and never pay anyone. This email also redirects people to the Argus Aircraft website, for some reason.

It is evident the relaunch of WEX has created new opportunities for criminals to steal money from Bitcoin users. Whether or not any of these attempts will be successful remains to be seen. The email list used here seems to be one belonging to BTC-e back when the platform underwent multiple breaches a few years ago. It is unclear if any new WEX users have received these emails as well. If they have, things have taken a very worrisome turn for the company already.