URL of Scam: coinwhit.com

Type of Scam: Investment and trading Scam
Calculated Amount Loss: $46,200

Victim Description:
The victim was initially contacted by an unknown person, who introduced herself as a woman interested in crypto investments. After building rapport, she moved the conversation to Telegram, where she continued to promote a crypto investment scheme. She claimed her uncle, a data analyst, was involved in the operation, which led the victim to trust her advice. Following her suggestion, the victim sold all his stocks and invested in the platform coinwhit.com. After a short period, the victim became suspicious when told that in order to withdraw the deposited funds, a 30% tax fee must first be paid. Despite making the required payment, the victim was unable to withdraw any funds, signaling a typical scam operation.

Cryptocurrency Addresses Used:

Wallet Address 1: 0xa8ce212ad46e39985dac88df619d9984f0d6e472
Wallet Address 2: 0x1CdfC02609292087C4d62369717B5fCbAAAD9ccC

Open-Source Intelligence Analysis: Key Details of Coinwhit.com Scam
Current Website & Platform Details:
Coinwhit.com is the fraudulent platform where the victim was encouraged to invest his funds. Scammers often use “tax fees” as an excuse to extort further payments from victims, preventing them from withdrawing their initial deposits. This type of tactic is typical of Ponzi schemes, where new victims’ money is used to pay earlier investors, making it appear as though the platform is legitimate.

Domain and Hosting Information:

Domain Name: coinwhit.com
Registrar: DropCatch.com 941 LLC
Registration Details:Registered On: July 22, 2024
Expires On: July 22, 2025
Updated On: July 23, 2024
Status: ok
Nameservers: ns15.abovedomains.com
ns16.abovedomains.com
The domain is newly registered, and the registrar DropCatch.com is known for managing domain drop-catching services. While legitimate, the fact that the domain was registered only recently and is using generic nameservers is a common indicator of a scam website.

Key Observations:

Unsolicited Contact and Rapid Escalation: The scammer initiated contact via text message, which quickly escalated to a discussion on Telegram. This type of approach is commonly used to gain trust and move the conversation off official, traceable channels.
Promises of Quick Returns: The scammer sold the idea of making quick money through crypto investments, backed by a fake narrative involving her “uncle” as a data analyst. This is a typical tactic to make the offer seem more legitimate.
Requests for Payment Before Withdrawal: The request for a tax payment before withdrawal is a clear red flag, as legitimate platforms never require tax payments upfront. This is a typical scam strategy to trap victims in a cycle of payments without any possibility of withdrawal.

Recommendations:
Blockchain Analysis: Trace the cryptocurrency wallet addresses provided (e.g., 0xa8ce212ad46e39985dac88df619d9984f0d6e472 ) to check if the funds have been transferred to other wallets or if they are linked to other known scams.
Report the Scam: Report the scam website coinwhit.com to the relevant authorities and regulatory bodies to help prevent further victimization. Additionally, inform the victim’s cryptocurrency exchange provider (e.g., Bitpanda, CoinExx, etc.) to try to trace the funds.
Monitor the Domain: Track the coinwhit.com domain for any changes in ownership or operational status. Given the recent registration date, the website may be active for a limited time before being taken offline, but it’s important to monitor in case it reappears under a different name.
Alert Other Potential Victims: Share this case on social media, forums, and cryptocurrency community sites to warn others about the scam, especially given the personal touch the scammers use to build trust.

Conclusion:
Coinwhit.com appears to be a fraudulent crypto investment platform that tricks victims by offering fake promises of high returns through cryptocurrency trading. The scam operates by gaining the victim’s trust via Telegram, and then lures them into making large investments with the promise of quick profits. Once the victim has deposited significant amounts of money, the scammers create a fabricated reason (e.g., a “tax” fee) to prevent withdrawals. This is a clear Ponzi-style scam where the victim is left with no access to their funds after paying additional “fees.”

Scam Details:
The fraudulent platform coinwhit.com falsely promised significant investment returns. After transferring funds, the victim realized they had been defrauded, with no possibility of reclaiming their investment.

Domain Information Analysis:

Domain: coinwhit.com
Registrar: DropCatch.com 941 LLC
Name Servers: Above.com Pty Ltd.
ISP: Trellian
Registration Details:Registered on July 22, 2024
Set to expire on July 22, 2025
Updated on July 23, 2024
Registrant Contact:Name: Redacted for Privacy
Organization: NameBrightPrivacy.com
Address: 2635 Walnut Street, Denver, CO, 80205, US
The use of privacy protection services and generic registration details indicate attempts to obscure the operators’ identities.

Wallet address: 0x1cdfc02609292087c4d62369717b5fcbaaad9ccc ,0xa8ce212ad46e39985dac88df619d9984f0d6e472

Recommended Actions:

Report to Relevant Authorities:

Notify local law enforcement or international cybercrime agencies such as the FBI’s IC3 or Europol. Provide all scam-related details, including the wallet addresses and domain information.
Report the scam to the exchange or wallet service used to send funds for potential assistance.

Monitor the Wallet Addresses:Utilize blockchain trackers to observe any activity associated with the scam wallet addresses.

Engage Legal Assistance:Seek guidance from a lawyer specializing in cryptocurrency fraud to explore options for recovery or additional reporting channels.

Public Awareness Campaign:Share the scam experience across forums and platforms to warn others about coinwhit.com.

Strengthen Cybersecurity Measures:Safeguard any remaining cryptocurrency assets by transferring them to secure wallets and enabling additional layers of security.

Conclusion:

Coinwhit.com executed an investment scam that defrauded the victim of $77,000 worth of Ethereum. Immediate actions to report, monitor, and publicize the fraud are critical for addressing the scam and preventing further harm.