Universalios Scam Crypto DApp To Watch Out For

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If your losses exceed £3,000 (in the UK) or $10,000 worldwide The Crypto Adviser can offer advice on recovering your funds. 

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Universalios – or Universal Ios – is a scam crypto DApp which being used to steal funds from investors who’ve been lured into the scheme by someone they’ve met online.

Victims are contacted through various social media platforms with the sender often claiming it’s a ‘mistake’ but then striking up a friendship with them shortly afterwards.

The scammer then encourages the victim to get involved in crypto investing with the promise of large profits, and directs the victim to set up a crypto wallet and install the Universalios DApp.

When the victim starts transferring funds over and ‘investing’ them they appear to be making a profit, but if they try to withdraw their funds they’ll find it impossible.

The scammers will then demand large fees to release the funds and will continue  with these demands until the victim either runs out of money or stops paying.

How to spot the Universalios scam

Spotting scams like this can be very difficult, especially if you’re new to the world of crypto.

There are certain things to look out for though, such as the newness of the domain name and the permissions you’re giving to the DApp.

In the case of Universalios, the domain name is very new and it also has the lowest possible Domain Authority rating which can be a sign that it’s a scam platform.

Also, you should never trust someone you’ve just met online, especially if they start to talk to you about investing and are trying to encourage you to part with your money.

It’s vitally important that you do your own research and only invest in schemes that you’re absolutely sure are legitimate and that you understand.

Can I get my money back from crypto scammers?

Recovering funds that have been lost to scam like Universalios is very difficult and it’s unlikely that you’ll see your cash again, unless you secure compensation from your bank or the legitimate crypto exchange used in the transaction.

There are also private companies that might be able to help which I’ve written about here.

If you suspect a site is fake, get in touch.

Related post: Crypto scam help and resources