Type of Scam: Cryptocurrency Investment Scam
URL of Scam: friri.net
Victim Description: The victim engaged in cryptocurrency transactions on friri.net, initially conducting arbitrage trading. Subsequently, the platform locked withdrawals, demanding an “insurance payment” for an Anti-Money Laundering (AML) investigation to clear funds, which raises suspicions of a potential rug pull scam.
Crypto Addresses:

rKKbNYZRqwPgZYkFWvqNUFBuscEyiFyCE
0x4180b6dae302793dfB825396142Aa8d6A1e0CDAd
0x036F628e7219962c93E5e86ca43d2F5D7ee9CD29
Amount Loss: $40,423

Open-Source Intelligence Analysis: Preliminary Findings on Fraudulent Activities Associated with friri.net
Current Website:
The website friri.net, reviewed on October 10, 2024, presents itself as a platform for cryptocurrency trading, including features such as arbitrage. However, the requirement of an additional payment under the guise of AML compliance after initial investments is a significant red flag, suggesting deceptive practices aimed at extorting more funds from users.

Domain and Hosting Information:

Registrar: Namecheap, Inc.
Nameservers:aurora.ns.cloudflare.com
micah.ns.cloudflare.com
(Hosted by Cloudflare, Inc.)
MX Records: mail.mailxnew.com
ISP: Cloudflare, Inc.
Technical Analysis and Subpoena Recommendations:

Domain Registrar: Namecheap, Inc.Recommendation for Subpoena: Secure comprehensive registration and ownership details.
Nameservers: Managed by Cloudflare, Inc.Recommendation for Subpoena: Access detailed DNS logs and configurations to identify domain activities and potential linkages to other malicious operations.
ISP: Cloudflare, Inc.Recommendation for Subpoena: Obtain IP address logs and traffic data that could trace the scam operators’ location and operational tactics.

Key Observations:
The platform’s use of Cloudflare services not only boosts its performance and security but also complicates tracking the actual server locations. The presence of a specific mail exchange server indicates organized email communications, which might be leveraged to interact with victims or coordinate within the scam network.

Conclusion:
The dubious requirement of additional “insurance” payments on https://friri.net/en to release funds already invested by the victim, coupled with locked withdrawals, characterizes this operation as a classic rug pull scam. Legal and investigative measures are urgently recommended to trace and dismantle the network behind this scam, potentially aiding in the recovery of lost funds.

friri.net was a fraudulent platform that ran a scam involving fake USDT giveaways. Users were deceived into depositing funds with the promise of winning large sums, only to be told they needed to pay taxes or additional fees to claim their winnings. These tactics led to significant financial losses for many victims. The platform has since been shut down, with the operators vanishing after collecting substantial funds.

User Complaints and Losses

Several transactions highlight the extent of the losses suffered by users of friri.net. Below are notable examples of the funds lost and the related wallet addresses:

• October 8, 2024: 15,102.372482 XRP transferred to rKKbNYZRqwPgZYkFWvqNUFBuscEyiFyCE
• October 7, 2024: 32,200 USDT transferred to 0x4180b6dae302793dfB825396142Aa8d6A1e0CDAd
• October 7, 2024: 210 USDT transferred to 0x036F628e7219962c93E5e86ca43d2F5D7ee9CD29

These transactions demonstrate the scale of the scam, with victims depositing significant amounts of cryptocurrency under the false premise of a giveaway and subsequent “tax” requirements to claim winnings.

Receiving Address Analysis

The receiving addresses involved in the scam have patterns of multiple incoming transactions from different victims. These addresses are associated with fraudulent activities designed to collect and launder stolen funds:

• XRP Wallet: rKKbNYZRqwPgZYkFWvqNUFBuscEyiFyCE
• USDT Wallets: 0x4180b6dae302793dfB825396142Aa8d6A1e0CDAd ,
• 0x036F628e7219962c93E5e86ca43d2F5D7ee9CD29

Platform Overview

friri.net portrayed itself as a legitimate platform offering USDT giveaways, but in reality, it was a front for a sophisticated scam. Users were led to believe they had won prizes and were prompted to deposit additional funds for taxes or fees to claim their winnings. This common scam tactic preyed on victims’ hopes for large payouts while collecting their deposits.

friri.net Conclusion

friri.net was a fraudulent platform that exploited users with fake USDT giveaways, requiring deposits for “taxes” to claim non-existent winnings. The platform has since disappeared, but not before causing significant financial harm to those involved. This serves as a warning to always be cautious of platforms promising high-value giveaways, especially when deposits or fees are required.