Scam Type: Crypto Investment Scam
URL of Scam: coincitys.vip
Calculated Amount Loss: $212,446.00
Victim Description: The victim engaged with a chat-based scam platform and was moved into the “elite program.” Despite attempts to withdraw funds, the victim encountered issues with “funds risk” and “margins risk,” preventing any successful withdrawal.

Wallet Address:
0x633e0e22E835c438dA456027E3997B6d183781C0

Open-Source Intelligence Analysis: Investigative Report on CoinCitys.VIP

Domain and Hosting Information:

Registrar: Gname.com Pte. Ltd.
Registered On: 2024-06-25
Expires On: 2025-06-25
Updated On: 2024-06-30
Status: clientTransferProhibited
Name Servers:b.share-dns.net, a.share-dns.com

Analysis:
The scam operation at coincitys.vip appears to rely heavily on chat-based communication to engage with victims, making the scam less overt and harder to identify as fraudulent at first. Victims are likely manipulated into participating in an “elite program” which promises high returns. Once the victim tries to withdraw their funds, they face a series of fabricated barriers (e.g., “funds risk,” “margins risk”) designed to stall or prevent the withdrawal process.

Potential Red Flags:
“Elite Program” Membership: Scams often offer exclusive membership or investment plans, like the “elite program” mentioned, to create a sense of exclusivity and urgency.
Withdrawal Issues: The mention of “funds risk” and “margins risk” is a classic tactic to prevent victims from accessing their money. These fabricated barriers are designed to keep the victim’s funds locked in the system, making recovery difficult.
Chat-Based Communication: The reliance on chat rather than voice or in-person meetings is common in scams because it’s easier to create fake identities and maintain anonymity.

Wallet Address Analysis:
Address: 0x633e0e22E835c438dA456027E3997B6d183781C0
Tracking the flow of funds through this address may help uncover whether there are multiple victims involved or if the funds are being funneled to a centralized account or entity. Investigating blockchain analytics tools could yield further insights into the fraudulent activity.

Action Recommendations:
Legal Action: Victims should report the scam to relevant authorities, such as local cybercrime units or financial regulatory bodies. Since this involves cryptocurrency, they should also report the scam to cryptocurrency tracking agencies.
Tracking and Tracing Funds: Given the large amount of money involved, it is crucial to trace the blockchain transactions linked to the wallet address provided. This might help uncover the perpetrators or their network of operations.
Public Awareness Campaign: Publicly expose coincitys.vip to prevent other individuals from falling victim to similar schemes. Websites like scam-lookup tools and forums that specialize in exposing fraudulent crypto sites can be helpful.
Awareness of Fake Programs: Educate potential investors about recognizing common signs of fraudulent investment platforms, such as high-pressure tactics, promises of unrealistically high returns, and restrictions on withdrawals.

Conclusion:
Coincitys.vip appears to be another fraudulent platform targeting unsuspecting crypto investors. The scam employs common tactics such as fake “elite programs” and withdrawal issues to manipulate victims and prevent them from retrieving their funds. Immediate investigation and reporting to appropriate authorities, along with public awareness efforts, are necessary to minimize further damage.

A scam involving fake crypto giveaways orchestrated by Scott Anderson through the website coincitys.vip has been reported. Users have been deceived by promises of cryptocurrency rewards, resulting in substantial losses.

Details of reported fraudulent transactions include:

• July 23, 2024: Transfer of 1.75 ETH to wallet ID 0x633e0e22E835c438dA456027E3997B6d183781C0 .
• July 24, 2024: Transfer of 7.49156934 ETH to wallet ID 0x633e0e22E835c438dA456027E3997B6d183781C0 .
• July 25, 2024: Transfers of 0.035 ETH and 15.666475388 ETH to wallet ID 0x633e0e22E835c438dA456027E3997B6d183781C0 .
• July 26, 2024: Transfer of 4.515499748 ETH to wallet ID 0x633e0e22E835c438dA456027E3997B6d183781C0 .
• July 29, 2024: Transfer of 34.727119978 ETH to wallet ID 0x633e0e22E835c438dA456027E3997B6d183781C0 .

Domain Details

• Domain: coincitys.vip
• Registrar: Gname.com Pte. Ltd.
• Registration Date: June 25, 2024
• Expiration Date: June 25, 2025
• Last Updated: June 30, 2024

This scam underscores the need for vigilance when engaging with online crypto-related platforms, especially those promising giveaways or rewards. Users are advised to verify the authenticity of such offers through independent and reliable sources. If you have fallen victim to this scam, report it to the appropriate authorities and seek assistance from cybersecurity experts to explore recovery options.

Remain alert, safeguard your digital assets, and avoid potential scams.