The Wefinex and BO exchanges suddenly disappeared, with the result that thousands of investors and hundreds of billions of dong were evaporated on account of huge interest alone.

Before “flying without wings”, Wefinex advertised in social networks with very attractive invitations: “Low investment with high return, 100% capital insurance”, “Do nothing and still earn money” … many people believed this and did not know that it was a trap of professional scammers hiding in the shadows of technology.

On October 6th, many Wefinex players panicked when they lost their connection and could not access the websites of binary options trading platforms (BOs) of this ecosystem such as wefinex.net, deniex.com, pocinex, remitex, aresBO, bitono …

The Wefinex link was blocked, which got hundreds of investors into trouble because large amounts of money may have … “evaporated”.

Why is Wefinex blocked?

When accessing the website: http://www.wefinex.tv/ the virtual wallet Wefinex, the words appear on the screen of the website: The National Cyber ​​Security Monitoring Center (NCSC) has blocked the name .tv for violating the law . “The domain wefinex.tv was blocked due to a violation of the law (cyber attack, phishing, piracy, unauthorized services …) or the organizational guidelines,” announced the NCSC.

Currently the Wefinex Exchange website is inaccessible, those who access it will be information stored by NCSC including: IP address, access time and operating software (user agent) to serve the public, security operations, network security.

According to the introduction on the website, Wefinex is a project in the Winsbank ecosystem. Previously, Winsbank had other binary projects like WinsBO. Winsbank Company is part of WORLD Blockchain Holding Limited. Although only a year old, this company always introduces them as a “legendary investment channel”.

Notably, according to Similarweb, more than 90% of the visitors to the Wefinex website are from Synthetic Team. However, this company has no representation in the country.

Method of rolling the chicken

After Wefinex was founded, the head coach trained the team in marketing tactics to retrain executives (frontline managers) and downlines, starting with the following process:

First, executives will create or buy large community groups to get customer data, then live streams and use images of money, houses, and cars to meet people’s greed and trick them into joining the system.

Then filter out those who would like to further develop the system for further training. Floor managers are constantly recruiting hot girls, models to take photos with money, houses and super cars to create promotional images for the floor.

Next, the process of acquiring customers from executives and “fake experts” is to go to the BO community group, the community to make money online, and then start enticing tricks like, “Capital 500-1000 Dollars la to earn a team ”,“ Just returned from studying abroad with little team capital ”,“ I’m very negative, can someone help me ”, …

Once that self has amassed a certain level of engagement and followers on social media, these self-proclaimed leaders and experts will proceed to building a personal image with certain criteria.

In order to “seduce the chickens”, the themes in this series often go online to show their richness and dazzle viewers. In particular, they often polish their image on social networks as high income people by investing in Wefinex exchanges and other BO exchanges in the Wefinex ecosystem such as: Pocinex, Deniex, Remitex, AresBO, Bitono … But in fact, many of them have cars on loan , Borrow houses, borrow clothes to “explode”, live virtually online.

After that, the floor is granted an account that only deposits money but cannot withdraw it and uses this account for trading, as well as a live stream for everyone.

Wefinex agent policy.

Since it is a marketing account, the leaders often trade in large values ​​from a few hundreds to thousands of dollars to create an image that will seduce people. In fact, these are just virtual numbers, the marketing account runs out of money and is being pumped up again, so the psychology is pleasant to show off the order table.

Eventually, when they finished attracting customers, subjects began building the image of a professional leader who specialized in building a strong system. The way to do this is to use the app to edit the daily commission and then ask those whose accounts have been burned to switch to the system to get more commissions. Many gullible people have activated VIP members and then proceeded on the path of enticing others to build the system with the dream that it is enough to sit and eat commissions, not trade, and avoid risks. The cycle continues like this …

Mr. CK (Tan Binh, Ho Chi Minh City) shared with Primary, saying that he joined Wefinex a year ago so he is no stranger to the display of wealth – the general formula of tiered unification.

“When I joined the association, I was given knowledge, taught to post“ virtual life ”every day. We even have a database of luxury items and photos for each member. According to the instructions, each person has to post 1-2 posts a day on social networking platforms such as Facebook, Zalo, Instagram, TikTok. These articles all have the motif of a philosophy of life, an opportunity to make a lot of money, and praise the virtual currency floor “- he said.

According to Mr. K., these virtual wallets actually all work in the form of taking from the latter in order to pay for the former. For example, if you join Wefinex you will have to pay an entry fee, anyone who pays less than $ 120 will only become a member, and from $ 120 they will become an agent and recruit staff.

“Typically, people pay $ 120 to act as agents, recruit employees, and share the commission. As that person invites more people, the amount of money raised increases.

For example, I recruit Person A, she pays $ 120, I get $ 60. Person A recruits more person B, depending on the degree from B I receive a commission from person A and B. Therefore, by participating in these exchanges, we mainly recruit people, we expand our legs. ”- Mr. K. provides information.

In addition, Mr. K. also said that the participants in Wefinex do not need any financial knowledge, but can still play because, according to experts, they only have to “enter orders”. The experts here are the people in the soil organization, they are going to “lock the line” to the members, and the members must be responsible for the loss or the gain.

“In general, nobody knows who the expert is, just hears rumors from one person to another, because this is the form of recruitment. In fact, little is invested here, it is a lot to attract new people, “he said.

The paytable is super awful, super “explosive” makes “chicken” dizzy and greedy.

In addition, binary options exchanges use virtual currencies BTC, ETH, USDT for trading, so participants are not legally protected in the event of a dispute.

In reality, however, the forex, gold, and virtual currency trading rooms, also known as “ghost finance” floors, are still popping up like mushrooms after the rain. This floor collapsed, another appeared, the victim’s fraudulent fortune was hundreds of billions of dong, but so far there is no effective solution to prevent this.

Although the names of the above models and projects showing signs of fraud are different, the tricks and tricks all have the same point, such as: Projects and models all have foreign elements, it is not clear who they belong to … so participants just need to be vigilant and study carefully before giving up.

A05 warning

In August, the Department of Cybersecurity and High-Tech Crime Prevention (A05) of the Ministry of Public Security issued a warning about the operation of Binary Option (BO) trading rooms in space – business organization, fraud and appropriation of participants’ assets .

According to A05, a binary option (BO) is a form of decision to increase or decrease the price of an asset for a period of time, be it gold, oil or cryptocurrencies. At the end of the trading session, if the prediction is correct, the player will enjoy the profit according to the minimum rate offered, otherwise the entire amount will be lost.

A05 said that recently, many organizations and individuals in Synthetic Team have set up hundreds of BO exchanges and introduced them as foreign financial technology products called blockchain technology applications in daily life, revolution 4.0 that media and press tools use to promote their products advertising makes investors think that these exchanges were licensed in Synthetic Team.

In accordance with the provisions of the Foreign Exchange Ordinance of 2005 (amended and supplemented in 2013) and Circular No. 21/2004 / TT-NHNN, which regulate the scope of foreign exchange transactions, conditions, orders and procedures continue to authorize foreign exchange transactions by credit institutions and foreign bank branches ( amended and supplemented by circular no. 28/2016 / TT-NHNN of October 5, 2016), only credit institutions that are allowed to conduct foreign exchange transactions; Therefore, binary options trading platforms operating in Synthetic Team are not subject to any consideration or licensing.

A05 advises people to be vigilant to avoid fraud and property appropriation. Organizations and individuals may not advertise, mediate or assist subjects in committing illegal activities. If they encourage and assist suspects in setting up and conducting advertising and payment activities, they may be prosecuted under Article 217 or Article 290 of the Criminal Code.

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Annie

Source: T / L

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