Wealthbax – Home Tab (Fraudulent Platform)

A California resident reports receiving a text message from a stranger named “Sandy.” After some conversation, Sandy suggested they move their conversations over to WhatsApp where their relationship developed. At some point, Sandy brought up crypto assets and introduced the victim to a crypto asset trading platform called Wealth Bax. Sandy instructed the victim to open an account and transfer funds to the website “h5.wealthbax.com/x/”. The victim was required to input their personal information, a picture of their driver’s license onto the website to create an account. The victim deposited crypto assets into their account and began trading. Sandy said that if the victim gave her money to help with her family, she in turn would add money to the victim’s account. At some point, the website showed that the investment was worth $281,992. But when the victim tried to withdraw money, the site demanded they pay IRS taxes of more than $40,000. When the victim reached out to Sandy, she said to pay, and that she had done so too in order to get her money. The victim was unable to withdraw any funds, and the site is no longer operational.