As we have discussed in previous blogs, it can be difficult to tell if a website is real or fake. Scammers put significant effort into making their websites look slick and professional. They also use aggressive and convincing sales tactics over the phone. Finally, by asking for payment in cryptocurrency, they make it harder to trace and recover any lost funds. So, what can you look out for to help you spot, and avoid, a scam like Beurax?
The first hurdle is actually getting onto the Beurax website! The original URL, no longer appears to operate. However, the scammers have set up another URL: beurax.work. This often happens with online fraud: once victims or authorities cotton on, scammers will set up alternative URLs.
So, what about this new URL? If you have installed standard internet security software, it will likely block access to this new Beurax site. It will also explicitly flag the site as a dangerous scam. This is a pretty good indication that the site is not trustworthy!
If you are able to get on to the site, the next thing to note is the use of language. The scammers use a lot of technical jargon to bamboozle victims and make it sound like they are the experts. At the same time, there are basic mistakes regarding grammar and syntax. Sub-headings like “About company” and “How can earn with BEURAX” should arouse suspicion!
Another tell-tale sign of a fake website is a lack of information about the actual company. For one, the website does not state where the company is registered or who regulates it. It provides an Australian address but a US phone number, which looks to be registered in Arizona. A search of ASIC’s (Australian Securities and Investments Commission) companies register shows that Beurax Corporation Pty Ltd was registered in 2020. However, even if a company is registered with ASIC, it can still be a scam! In fact, In it, ASIC details its concerns about unrealistically high and ‘guaranteed’ returns and difficult-to-trace cryptocurrency payments.
Before investing any money with an unknown company, it pays to read independent reviews on sites such as Trustpilot. A quick glance shows many reviewers warn of scams and share stories of being defrauded. Always be alert for fake reviews, though, as scammers will try and up their trustworthiness ratings. One other note of caution: some review posters will actually be secondary scammers. They pretend to be or help victims get their money back only to fleece them a second time!
The final red flag is a lack of information on who owns or works for the company. The Beurax website does not provide any names or contact details of their directors or employees. A search on LinkedIn only reveals a company by the name of Beurax Review with a defunct website – likely another version of this scam.
In conclusion, it is clear to our experienced analysts that Beurax is a scam operating a fake website. If you ask to withdraw your funds, the scammers will likely come up with excuses or be unresponsive. Do not send them any further money! Many scammers will ask you to transfer further funds to “unlock” your investment but that is simply another way of scamming you. Don’t fall for it! Instead, contact Cybertrace’s experienced investigators to see how we can help you.
