Stay Alert Against Online Scams

### Fraudsters Impersonating Velvetech.com Exploit Victims Using Fake Domain App-Velvetech.com

#### November 19, 2024 – A New Crypto Scam Exposed

Fraudsters posing as representatives of Velvetech.com, a legitimate software company, have reportedly created a fake platform under the fraudulent domain *App-Velvetech.com* to exploit unsuspecting users. This elaborate scheme uses the trusted name of Velvetech to lure victims into a trap of high currency to USDC recharges, fake tasks, and coerced payments.

The Velvetech Workbench!!! How It Works

The scam operates under the guise of a task-based platform, claiming users can earn significant rewards by completing assigned tasks. However, reports reveal a sinister scheme designed to financially exploit users:

- Users are directed to the https://App-Velvetech.com platform, believing it to be associated with the Official Velvetech LLC USA IL company.

- Tasks are assigned, but instead of earning rewards, users face negative balances, forcing them to deposit ("recharge") large sums of money.

- Victims have reported being hit with multiple negative balances in a single session, some totaling tens of thousands of dollars.

In one notable case, a victim was assigned four combined tasks, resulting in a staggering 57,000 USDC negative balance.

More words of caution!

"I believe this is a SCAM site I believe this is a SCAM site. After taking a position, before the 40 “tasks” are completed the system can hit you with one, then two or even three subsequent “combination” tasks. These force you to deposit further capital. If $1000 is your initial stake, this may force you to add $1000, then $2000, $4000 and then even $8000 in subsequent combination events. If you cannot afford this, you lose your funds completely! Date of experience: 15 November 2024"

Christopher Sawtell, United Kingdom - TrustPilot

"VELVETECH WORKBENCH PONZI SCAM STAY… VELVETECH WORKBENCH SCAM Please Beware of App-Velvetech.com Crypto Scam App-Velvetech.com exploit users. They use deceptive crypto "tasks" that appear profitable but trap victims in a cycle of negative balances, forcing large deposits under false promises. They manipulated me to deposit 57,000 USDC, urging me to borrow from friends. Customer service coerced and eventually froze my account disabling access. This is a well-organized scam exploiting Velvetech's name. Stay vigilant and avoid App-Velvetech.com (Velvetech Workbench) at all costs! "

Author, United Kingdom

"I was invited to a Velvetech workbench… I was invited to a Velvetech workbench by inviting code, it's a website to complete "tasks", simply by sending your USDC to a Velvetech account ballance, there absolutely no information about it that is available to read, it's a frauds, I lost my yearly incomes using this stuff, it was $5000 in USDC, customer support operator said that I can only withdraw my money when I'll cover my negative balance, which I am unable to cover, so I have lost all my money and they stucked in this Velvetech fraud workbench. Date of experience: 18 October 2024"

Tymofii Lytvyn, UA
1 / 3

Frequently Asked Questions

The team leader will help you create a wallet and link it to your bank account walk you through step by step and even deposit a small commission back you to win your trust?

Manipulative Tactics by Fraudulent Customer Service*

The scammers behind App-Velvetech.com rely on coercive tactics to extract money from their victims.

- Victims who cannot afford the high recharge demands are told to borrow money from friends or family to resolve their balances.

- Customer service agents refuse to offer assistance or alternative solutions, instead threatening to freeze accounts and block access to funds.

- Requests to review the terms or challenge the negative balances are dismissed or ignored.

One victim described their experience:

“They said my account would be frozen unless I recharged immediately. I had already borrowed money from my family. I couldn’t believe they were using Velvetech’s name for this.”

How can I identify a scam pretending to be Velvetech.com? Scammers WA number Checklist?

11162 --- Velvetech Optimization Discussion Group

Group · 33 members

Tony Team Leader/WhatsApp Admin +44 7737 762151

Tony Team Leader +44 7477 291928 (same person)

Paul Customer Service +1 (323) 220-5700

+44 7403 053176 ~Edoardo WhatsApp Admin

+44 7988 291855

+44 7916 209787

+44 7878 515787

+44 7865 331588

+44 7851 869104

+44 7378 797830

+44 7354 101282

+44 7934 520111 ~Denise

+44 7473 944670 ~Pranav

+44 7473 032753 ~Jemnie

+44 7413 731519 ~Darren

+44 7460 173016 ~Elise

+44 7828 993258

+44 7481 224688

+44 7475 884762

+44 7447 879683

+44 7565 267368 ~Sarah

+44 7413 066624

+44 7734 802980 ~chailyn

+44 7378 797864 ~Bonnah

+44 7533 907093 ~Betty

+44 7853 253877 ~Antonio

+44 7473 898796 ~Andrea

+44 7473 141856 ~Alethea

+44 7378 502963 ~Alisha

Have they been reported to the relevant fraud and regulatory authorities?

Yes, the process has started

  • Evidence including:

    • Screenshots

    • WhatsApp Chat History

United States:

  • Federal Trade Commission (FTC)

  • State Attorney General’s Office

  • FBI's Internet Crime Complaint Center (IC3):

International:

  • Action Fraud (UK)

  • Interpol

  • Blockchain platforms both Ethereum, Binance)

  • Crypto exchanges including Binance,

    Coinbase,

    Kraken, Bitstamp &

    Crypto.com

  • Trustpilot

  • Reddit

  • Glassdoor

Legal Action TBC

Contact

Contact Us