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Unveiling the Velod.ai Scam

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cybertrace

February 21, 2024 · 4 min read

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A Warning to Investors

Cybertrace analysts noted that in recent months a concerning new fake crypto website has been catching would-be crypto investors with many losing hundreds of thousand of dollars to the fraud. The platform in question, velod.ai, has been identified as a significant scam operation, masquerading as a legitimate investment opportunity. This revelation has led to numerous investors losing substantial amounts of money, with some victims reporting losses in the hundreds of thousands. Since August 2023, Cybertrace has been inundated with requests for assistance from those affected, highlighting the severity of this scam.

Screenshot of the velod.ai homepage stating false information about crypto trading and investment

How the Velod.ai Scam Operates

Velod.ai presented itself as a cutting-edge cryptocurrency investment platform, leveraging artificial intelligence to promise high returns on investment. However, the facade begins to crumble when investors attempt to withdraw their purported profits. At this juncture, users are confronted with a demand to pay a fraudulent deposit fee—a classic hallmark of a scam operation. Those who comply find themselves further ensnared, with no actual returns and additional financial losses.

The Impact on Victims

The velod.ai scam has not only resulted in significant financial losses for individuals but also eroded trust in the burgeoning field of cryptocurrency investments. Reports from victims highlight a sophisticated scheme whereby the time the fraudulent nature of the platform is revealed, it’s often too late. The psychological and financial toll on the victims cannot be overstated, with many facing the devastating reality of losing their life savings.

Cybertrace’s Role in Assisting Victims

In response to the growing number of victims, Cybertrace has stepped up its efforts to provide support and guidance. The team’s expertise in cyber investigations has been crucial in uncovering the mechanisms behind the velod.ai scam, offering a glimmer of hope to those affected. Their ongoing work underscores the importance of due diligence and scepticism when navigating the complex world of online investments.

Cybertrace forensic investigators have identified that the website is operated from an Eastern European country and it operates several alias websites including;

velodapc.com, velodxio.com, velodeid.com, velodokl.com, velodsih.com, velodpro.com, velodsib.com, velodwrd.com, velodaps.com, velodtri.com, velodzat.com, velodleo.com.

Image of an evil being casting a shadow over the crypto trading industry which represents a crypto scammer.

Protecting Yourself from Investment Scams

  • Research Thoroughly: Before investing, conduct extensive research on the platform and its offerings.
  • Beware of Unrealistic Promises: High returns with little to no risk are a red flag for potential scams.
  • Verify Withdrawal Processes: Legitimate platforms do not require payment to withdraw funds.

Seek Professional Advice: If in doubt, consult with financial advisors or cybersecurity experts like Cybertrace.

The velod.ai scam serves as a stark reminder of the risks associated with cryptocurrency investments, particularly on platforms that have not been thoroughly vetted. It’s a call to action for investors to exercise caution and seek assistance from professionals like Cybertrace when encountering potential scams. As the digital landscape continues to evolve, staying informed and vigilant is our best defence against those looking to exploit the unwary.

By adhering to these principles and remaining vigilant, investors can navigate the complex cryptocurrency landscape more safely, minimising the risk of falling victim to scams like Velod.ai.

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The Lure of Velod.ai

Velod.ai promised an innovative trading solution, leveraging artificial intelligence to maximise crypto trading profits. However, the dream quickly turned into a nightmare for many Australian investors. Reports have indicated that attempts to withdraw profits from the platform are met with demands for a fraudulent deposit fee, a classic hallmark of investment scams.

A Wave of Financial Despair

Since August 2023, numerous victims have come forward, recounting losses amounting to hundreds of thousands of dollars. These individuals sought the expertise of Cybertrace, hoping for a resolution to their dire situations. This pattern of financial exploitation underscores the critical need for vigilance in the digital investment domain.

Tags: velod.ai scam, crypto, scam,

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