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      A new scam has been reported involving the fraudulent website, which claims to offer high returns on investments in cryptocurrencies. Victims are lured in through Facebook posts made by accounts impersonating friends, promising large interest earnings on investments. The scam follows a detailed process:

      1. Victims are instructed to wire money to accounts on Bitcoin and to purchase Bitcoin and Ethereum.
      2. The cryptocurrencies are then purportedly sold and transferred to an account on, where they are put into a “720-hour interest earning cycle,” allegedly earning as high as 1% per hour.
      3. Once the interest account supposedly reaches a certain threshold (e.g., $50,000), victims are asked to pay additional fees, such as $8,500 for insurance to cover the made interest.
      4. A final scam tactic involves requesting a 20% commission fee to release the interest earnings. Should victims question these demands or ask for their total investments back, access to their account is revoked, effectively locking them out.

      The scammer communicates through instant messages, persistently asking for the commission fee. Investigations have revealed that the CRD number listed on the website is fraudulent, belonging actually to Wave Digital Assets. The CEO of Wave Digital Assets, Jennifer Anderson, confirmed no association with kryptbased-assets and has reported the misuse of their CRD number and disclaimer statement.

      Scammer Contact Information:

      • Location: Burlington, MA- 01803
      • Email:
      • Phone Number: Unknown
      • Website:

      Scam Type: Cryptocurrency

      Date Reported: October 24, 2023

      Dollars Lost: $23,500

      Victim Location: TX, USA – 78736

      If you have been scammed by or have encountered a similar scam, please share your story. Your experience could be invaluable in preventing others from falling victim to this fraudulent scheme.

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