Eiczp.com Crypto Scam – What You Need To Know

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Written by: Thomas Orsolya

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Eiczp.com promises easy crypto wealth through AI-powered trading bots. But behind the glossy veneer lies a scam designed to steal your hard-earned money.

This article exposes how Eiczp.com scheme tricks victims with fake promises of high returns. We analyze their manipulative tactics, deceitful marketing, and exaggerated profit claims.

Eiczp.com scam

Scam Overview

Eiczp.com promotes itself as an automated crypto trading and investing platform, claiming to generate massive returns through the use of AI-powered trading bots and algorithms. However, behind the facade lies a textbook Ponzi scheme that depends on a constant influx of new investments to pay returns to existing members.

Here are some of the red flags that reveal the fraudulent nature of Eiczp.com’s business model:

  • Fake trading bots and algorithms – Seokore makes claims of having developed highly complex automated trading systems fueled by artificial intelligence. In reality, no evidence of these bots exists. The promised returns are completely unsustainable through legitimate trading.
  • No external revenue source – Seokore has no retailable products or services. The only way it generates revenue is by bringing in new affiliate investors. This is a hallmark of Ponzi schemes.
  • Affiliate recruitment commissions – Seokore incentivizes affiliates to aggressively recruit new investors through generous referral commissions. Recruitment of new investors is prioritized over retail sales or trading profits.
  • No transparency – Unlike legitimate trading firms, Seokore provides no audited trading records to verify its claimed profits. There is complete lack of transparency over how member funds are utilized.
  • Regulatory warnings – Seokore is not registered with any financial regulatory body. Multiple jurisdictions have issued warnings regarding its legitimacy.

The presence of these red flags clearly indicates Seokore is operated as an illegal Ponzi scheme. The promised daily returns of 2% to 3% are simply too good to be true and can only be fulfilled temporarily by using new member funds.

How the Scam Works

Seokore employs a number of deceptive and manipulative tactics to lure in victims. Let’s go through the step-by-step process of how the scam ensnares its targets.

Step 1: Recruitment of Potential Targets

The first step for Seokore is getting potential targets to their website. They accomplish this through numerous methods:

  • Facebook, Instagram, and TikTok ads – Seokore runs slick ads across these platforms, typically using fake user accounts. The ads tout impressive earnings through crypto trading and investing.
  • Direct outreach – Scammers identify targets active in cryptocurrency spaces across social media and messaging apps. They reach out directly posing as successful crypto traders, trying to “help” the target invest with Seokore.
  • Referrals – Existing victims are encouraged to refer friends and family in exchange for small bonuses.
  • Pig butchering scam crossover – Scammers utilize the “pig butchering” scam to build relationships before introducing Seokore as an investment opportunity.

The goal of these tactics is getting targets to the Seokore website and signing up for an account.

Step 2: Gaining the Target’s Trust

Once a potential victim visits the Seokore website and shows interest, the scammers start building rapport and gaining their trust. They do this using various manipulative tactics:

  • Fake review sites and testimonials give the impression that Seokore is a legitimate and highly profitable platform.
  • Scammers pretend to be ordinary people who’ve achieved success through Seokore. They share fake payment screenshots and profit statements.
  • Bonus referral commissions are promised to the target for bringing in new investors. This gives the impression they’re being let in on a special opportunity.
  • Scammers appeal to the target’s greed by touting examples of people earning lakhs or crores using Seokore.

Step 3: Encouraging Investment

After developing trust, scammers encourage the target to start investing funds into Seokore.

  • They emphasize the ease of use of the platform and speed of withdrawals. Fake demo sessions showing the withdrawal process are used.
  • Scammers often advise targets to start with a small investment, assuring them it’s risk-free. This gets the target financially committed to the scam.
  • Once the first investment is made, the scammers pressure the target to keep re-investing profits and to upgrade to higher investment tiers for bigger profits.
  • Tactics like fake bonuses and discounts are used to get the target to invest more. Fear of missing out is instilled in their minds.
  • Referral commissions are used as bait, promising the target they can recover their capital by referring others. This turns victims into unwitting promoters of the scam.

Step 4: Extraction of Funds

Once the target is hooked, the scammers aim to extract as much money as possible.

  • The victim is pressured repeatedly to put in fresh funds into Seokore, often reinvesting any withdrawals.
  • Any attempt by the victim to withdraw sizeable funds is met with excuses, delays, and small intermittent payments to string them along.
  • Paper account statements showing huge balances are used to manipulate the victim into believing their investment is growing. In reality, they have lost most or all of their capital.
  • When the victim becomes persistent in withdrawing their money in full, they are blocked completely. All contact with the scammers is ended.

Through these tactics, Seokore scammers are able to slowly drain the finances of victims until their access to funds is cut off. Much like a Ponzi scheme, early victims may see some temporary returns but the eventual outcome is loss of invested capital.

What to Do If You Are a Victim

If you have fallen prey and lost money to the Seokore scam, here are some steps you can take:

  1. Stop all communication – Cut off contact with the scammers immediately. Ignore any further phone calls, emails, or messages from them.
  2. Report the fraud – File a complaint with cybercrime authorities in your country. Provide them all relevant details of how you were defrauded.
  3. Inform your bank – Notify your bank regarding any unauthorized credit card or bank account transactions. Dispute any illegal withdrawals.
  4. Get legal help – Consult with a lawyer regarding fraud investigation and asset recovery assistance. Legal action may help trace and recover lost funds.
  5. Warn others – Share your experience through social media and complaint platforms to educate others about this scam. Your story can help prevent further victims.
  6. Seek emotional support – Seek counsel and support from trusted family and friends. Do not blame yourself for this crime. Scammers can manipulate anyone.

Frequently Asked Questions about the Eiczp.com Scam

1. What is Eiczp.com?

Eiczp.com is a fraudulent website that lures investors by claiming to offer enormous returns through crypto trading bots. However, it is a Ponzi scheme that uses new investor funds to pay previous investors.

2. How does the Eiczp.com scam work?

Seokore uses fake social media profiles and ads to recruit targets to their website. They build trust through fake reviews, testimonials, and promises of referral bonuses. Targets are manipulated into investing more through staged withdrawal demonstrations, pressure tactics, and fake profit statements. Funds are slowly siphoned away through excuses and delays.

3. What are some red flags of the Seokore scam?

Red flags include unrealistic claimed returns of 2-3% daily, no evidence of real trading activity, pyramid recruitment commissions, lack of regulation or audited records, and regulators warning against it.

4. What tactics does Seokore use to manipulate victims?

Manipulation tactics include fake demonstration sessions, pressure to upgrade investment tiers, baiting with referral commissions, manufactured urgency through fake time-limited bonuses, and showing fake account balances to suggest unrealized gains.

5. How much can you lose to the Seokore scam?

Reported losses range from hundreds to lakhs of rupees. Victims are pressured repeatedly to reinvest funds and refer others in order to recover their money, which typically never happens. The scam aims to drain finances completely.

6. How can you avoid the Seokore cryptocurrency scam?

Avoid investing in platforms promising unrealistic guaranteed returns with no transparency. Check for regulatory registration and audited trading records. Beware of fake reviews and pressure tactics. If returns seem too good to be true, they usually are.

7. What should you do if you are a victim of Seokore?

Immediately cease all contact, report it to cybercrime authorities, inform your bank, get legal assistance, and share your experience publicly to warn others. Seek emotional support from trusted friends and family.

8. Is it possible to recover lost funds from the Seokore scam?

It is challenging but reporting it immediately and seeking legal assistance maximizes the chances of tracing funds and taking legal action to recover losses. The sooner action is taken, the better.

9. How can the crypto space be made safer for retail investors?

More regulation, auditing requirements, investor education, and promptly acting against fraudulent platforms like Seokore can help protect consumer interests in the largely unregulated crypto space. Investors should exercise extreme caution.

10. What is the best way to avoid crypto investment scams?

Conduct thorough due diligence, watch for warning signs, start with small amounts, diversify across reputed platforms, and never invest more than you can afford to lose. If guaranteed high returns are promised, it’s likely a scam.

The Bottom Line

Eiczp.com is nothing more than a sham designed to defraud everyday crypto investors. Behind claims of AI-powered trading bots lies an illegal Ponzi scheme fueled by new member funds.

Once lured by promises of easy wealth, victims soon find themselves pressured to invest more through deception and false incentives. Seokore progressively siphons away deposited funds through excuses and delays until the tap runs dry.

By understanding the manipulative tricks Seokore uses to exploit greed and trust, the true sinister nature of this scam is exposed. Stay vigilant and protect your hard-earned money from falling into their hands.

How to Stay Safe Online

Here are 10 basic security tips to help you avoid malware and protect your device:

  1. Use a good antivirus and keep it up-to-date.

    Shield Guide

    It's essential to use a good quality antivirus and keep it up-to-date to stay ahead of the latest cyber threats. We are huge fans of Malwarebytes Premium and use it on all of our devices, including Windows and Mac computers as well as our mobile devices. Malwarebytes sits beside your traditional antivirus, filling in any gaps in its defenses, and providing extra protection against sneakier security threats.

  2. Keep software and operating systems up-to-date.

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    Keep your operating system and apps up to date. Whenever an update is released for your device, download and install it right away. These updates often include security fixes, vulnerability patches, and other necessary maintenance.

  3. Be careful when installing programs and apps.

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    Pay close attention to installation screens and license agreements when installing software. Custom or advanced installation options will often disclose any third-party software that is also being installed. Take great care in every stage of the process and make sure you know what it is you're agreeing to before you click "Next."

  4. Install an ad blocker.

    Ad Blocker

    Use a browser-based content blocker, like AdGuard. Content blockers help stop malicious ads, Trojans, phishing, and other undesirable content that an antivirus product alone may not stop.

  5. Be careful what you download.

    Trojan Horse

    A top goal of cybercriminals is to trick you into downloading malware—programs or apps that carry malware or try to steal information. This malware can be disguised as an app: anything from a popular game to something that checks traffic or the weather.

  6. Be alert for people trying to trick you.

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    Whether it's your email, phone, messenger, or other applications, always be alert and on guard for someone trying to trick you into clicking on links or replying to messages. Remember that it's easy to spoof phone numbers, so a familiar name or number doesn't make messages more trustworthy.

  7. Back up your data.

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    Back up your data frequently and check that your backup data can be restored. You can do this manually on an external HDD/USB stick, or automatically using backup software. This is also the best way to counter ransomware. Never connect the backup drive to a computer if you suspect that the computer is infected with malware.

  8. Choose strong passwords.

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    Use strong and unique passwords for each of your accounts. Avoid using personal information or easily guessable words in your passwords. Enable two-factor authentication (2FA) on your accounts whenever possible.

  9. Be careful where you click.

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    Be cautious when clicking on links or downloading attachments from unknown sources. These could potentially contain malware or phishing scams.

  10. Don't use pirated software.

    Shady Guide

    Avoid using Peer-to-Peer (P2P) file-sharing programs, keygens, cracks, and other pirated software that can often compromise your data, privacy, or both.

To avoid potential dangers on the internet, it's important to follow these 10 basic safety rules. By doing so, you can protect yourself from many of the unpleasant surprises that can arise when using the web.

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