This report documents a fraudulent cryptocurrency scam associated with the website cgiinc.cc, which presents itself as a crypto exchange platform offering unrealistically high returns on investment (up to 90%). The scam utilizes a series of fraudulent cryptocurrency receiving addresses where victims are instructed to send their funds. The platform primarily targets Ethereum (ETH) and USDC (Tether), exploiting these assets for illicit gain. Once funds are deposited, the victims face difficulties withdrawing their investments, and the platform becomes unresponsive, indicating a scam operation.

Scam Type:

• Fake Cryptocurrency Exchange
• Promises of unrealistic returns (up to 90% on investments)
• Withdrawals blocked after deposit
• Platform becomes unresponsive after funds are sent
• Receiving Wallet Addresses:

USDC:

• 0x9816b28586e70ca63fb8f708e909cf89f3cf0c33 (6,000 USDC)

ETH (Ethereum):

• 0x7cf015dd543151a954c131e34b6d00911530544e
• 0x19395e0441Feaf42aaE26E079ba29BAa688F6F41
• 0x8C014B265fFD4Db0626987C9c73C14f98855B7b9

Total Reported Losses:

ETH Transactions: Multiple deposits ranging from 0.136 ETH to 2.489 ETH, including significant individual transfers like 2.489092 ETH and 2.314442 ETH.
USDC Transactions: 6,000 USDC deposited to the wallet address 0x9816b28586e70ca63fb8f708e909cf89f3cf0c33.

Blockchain Type:

1. Ethereum (ETH)
2. USDC (Tether)

Domain Information:

• Domain Name: cgiinc.cc
• Registrar: Gname.com Pte. Ltd.
• Registration Date: April 1, 2024
• Expiration Date: April 1, 2025
• Registrant Location: Arizona, USA

Nature of Scam:

Victims were enticed to invest in cryptocurrency through promises of high, guaranteed returns, with no actual trading or returns ever occurring. Once users deposited funds into the provided wallet addresses, they faced immediate difficulties withdrawing, and the platform became unresponsive to requests for account access or withdrawal of funds. The scam appears to be well-coordinated, using professional-looking branding to deceive victims into believing the platform was legitimate.

Recommendation:

Investigators should track the wallet addresses associated with the scam for any further fraudulent activity. It is recommended that victims report the incident to relevant authorities, and financial tracking agencies to monitor the flow of funds associated with these addresses.