Nowzex.com Scam – Are You a Victim? Our findings can be found here

Nowzex a fake cryptocurrency trading platform is being promoted on social media through a clever scam. The scammers tricked fans by using fake videos of celebrities, such as Cristiano Cristiano or Elon Musk. They promised free crypto giveaways which were activated through special promo codes. Nowzex’s sole purpose is to steal money off victims lured into the scam by false celebrity endorsements, and offers that sound too good to be real. This guide will describe how the scam is run and offer tips to help you avoid being another victim.

Red Flags of the Nowzex Scam

Nowzex, a website that offers bitcoins via YouTube promo codes is clearly a fraud.

The company does not have any online documentation or footprints apart from its promotional videos. Nowzex does not have any legitimate information.

The site has no evidence to verify that there have been any previous bitcoin rewards.

Celebrities portrayed in videos are not validating the promotion. The videos misappropriate their likeness.

An account activation that requires an upfront Bitcoin deposit is a serious red flag. This isn’t a way that regulated trading platforms work.

Nowzex.com was only registered recently, and the domain name will soon be abandoned. This isn’t how legitimate businesses run.

The only real way to get in touch is through a contact page.

It is never a good idea to accept offers that appear too good to be real. If the offer seems too generous to be true, it’s a fraud.

Due to the many scam indicators on social media, users should stay away from the fake celebrity endorsed Nowzex giveaway.

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Nowzex Bitcoin Scam: A Review

Nowzex.com is another fake cryptocurrency platform that has been promoted via social media. The scam involves a complex celebrity fronted scheme. Fraudsters pretend to be celebrities such as Cristiano Cristiano or Elon Musk. Mark Zuckerberg is also used.

The scam uses deceptive YouTube, TikTok, or Facebook videos. In these videos, deepfake celebrities claim to be collaborating with Nowzex.com on a Bitcoin giveaway.

To claim the free Bitcoin, they provide viewers with detailed instructions. They can sign up for the site using a promo code like “CR7” and “Tiktok11”.

Nowzex Scam Promo Code:

Nowzex.com’s criminals use a combination of convincing fake videos, psychological tricks, and technical ruses to commit the fraud. Let’s examine the steps in more detail:

Nowzex Bitcoin Promo Code: Frequently asked questions

1. What is Nowzex Bitcoin promo codes scam?

This is a cryptocurrency scam which uses videos edited to look like celebrities to convince victims to send Bitcoins to a fake trading website Nowzex.com.

The scammers are distributing videos that seem to show celebrities such as Cristiano Cristiano or Elon Musk promoting an offer for a Bitcoin giveaway in collaboration with Nowzex.com.

In the videos the voice-dubbed or ‘deepfaked’ celebrities provide a promo code unique to Nowzex.com, for example “CR7”, and they claim the viewers can use it on Nowzex.com, in order to receive a free Bitcoin balance.

Nowzex.com however does not offer any trading or real transactions. It is an entirely fake platform created to steal Bitcoin deposits made by unsuspecting users who were lured in with deceptive celebrity videos.

2. Which celebrities have been impersonated the most in scam videos?

The most popular celebrity figures that are used in these scam videos include

3. How is fake celebrity endorsement video created?

Two main scamming techniques are employed by the scammers.

Advanced deepfake Artificial Intelligence technology seamlessly replaces an actual celebrity’s image and voice with a fabricated copy designed to appear and sound authentic.

Voice dubbing involves taking real interviews of the celebrities and using voice mimicry software in order to make them appear as if they were saying something else.

Both techniques allow scammers produce convincing videos which depict celebrities speaking directly to viewers, promoting Bitcoin giveaways and even addressing them.

4. Where and when do the scammers distribute the fraudulent videos on the internet?

Once the fake videos were created, they spread quickly across social media platforms, including YouTube, Facebook, Instagram, TikTok, using two main tactics.

Videos targeted to users interested on cryptocurrency trading and investment.

Use hashtag campaigns with terms like #ElonMusk and #CryptoGiveaway in order to reach a larger audience.

It is possible to see as many scam videos as you want by using organic and paid reach.

5. What happens when a victim uses the Nowzex.com discount code?

After being tricked by the fake celebrity endorsements they go to Nowzex.com where they enter the specified promotion code, such as “CR7”, and “Tiktok11”, during registration.

Entering this code adds 0.31 BTC (or more) to the Nowzex user account dashboard. This is meant to trick the victim to think that the promo has added Bitcoin to the account.

But, in reality there are no Bitcoins deposited. The balance shown is completely fake. This is done to further trick the victims. No trading occurs.

6. How do these criminals steal money out of victims?

When the target attempts to withdraw their fake 0.31 BTC account to an external wallet, a message appears stating that they must verify their account first by making at least a deposit of just 0.005 BTC.

This scam lures unsuspecting people into sending Bitcoin to the scam website, believing it is needed to verify their identity.

The scammers are actually the ones who receive this “verification payment”. Once sufficient real deposits are collected from victims, sites disappear and accounts are disabled.

7. What should i do if i have already been tricked by this scam and lost my money?

Do not hesitate to take action if your bitcoins are lost.

Contact your crypto wallet service provider or exchange in order to report any unauthorized transactions.

SEC, FTC or FBI and local authorities should be notified of the scam.

Report the fraudulent accounts and videos spreading the scam through social media.

Alert cryptocurrency trading exchanges about the scammers and their wallet addresses.

Spread the word to warn others about the scam.

Scammers who promise to recover your money usually end up causing you more loss.

8. How can you avoid being a victim of Nowzex Bitcoin scam?

Here are some tips to help you avoid falling victim to this cryptocurrency fraud:

Check out the official channels to confirm celebrity endorsements before you act or believe them.

To ensure that the platform is legitimate, it’s important to thoroughly investigate any trading platform.

Make sure you never make a cryptocurrency deposit just to be able to withdraw an account balance.

Avoid bonuses that promise you a substantial return or give away free cryptocurrency when you sign up.

You can protect your crypto exchange account with robust security.

Report suspicious videos, accounts, or websites promoting celebrity cryptocurrency endorsements.

9. Why do scammers target celebrities to use cryptocurrency for their fraud?

Scammers use the hype and fascination of cryptocurrency to lure people into their scams. Elon Musk and other prominent figures, such as Elon Hassan, have established themselves in the crypto space as visionaries.

By pretending to be celebrities endorsing an attractive crypto giveaway, scammers are able to manipulate their victims into paying money for their scam website under the false impression that they would secure valuable profits.

10. Are the celebrity videos used in this scam legal and authentic?

No. FTC regulations prohibit the non-consensual usage of intellectual property, celebrity likenesses, or other intellectual properties without permission. Although deepfakes are spreading online, regulators still struggle to enforce the law.

Nowzex Crypto Scam – The Bottomline

Nowzex is a good example of how to be cautious when sending money and protect your cryptocurrency.

Verify endorsements. Review celebrity crypto promotion before you act. Confirm legitimacy by using official channels.

Do your research before opening an account.

Beware of “free Crypto” – Genuine platforms won’t give you Bitcoin or bonuses simply by signing up.

Don’t force deposit before withdrawal – There is no legitimate site that forces its users to first deposit funds.

Report suspicious behavior – Inform authorities about frauds that may have occurred and help to bring the scammers responsible.

Be alert to similar scams exploiting the hype of cryptocurrency and celebrities. Share information about these deceptive techniques to protect your local community from predatory scammers.