OnSoMo.com has been getting noticed because of ads that claim Elon Musk supports it. These ads promise large crypto bonuses and high returns, which attract people. But OnSoMo might not be as reliable as it seems.
In this article, we’ll explore what Onsomo.com is all about, the red flags, and offer a conclusion to help you make an informed decision.
What Is Onsomo.com?
Onsomo.com is a cryptocurrency exchange platform that aims to make trading easy and efficient. It offers real-time data, high liquidity, and low fees.
Users can trade digital assets like Bitcoin, Ethereum, and various altcoins. The platform supports spot trading, margin trading, and futures trading with up to 100x leverage.
Onsomo focuses on building user trust by providing customizable interfaces, secure transactions, and fiat on-ramp services.
Expert Review on Onsomo.com
Ads claim Elon Musk endorses OnSoMo, which creates a misleading link to a trusted figure, according to experts.
The site offers a 0.16 BTC bonus just for signing up and using a promo code an offer experts call unrealistic.
Users are asked to pay a 0.04 BTC verification fee to withdraw funds. Once paid, they’re locked out, with no way to recover their money.
The site attracts users with a fake crypto giveaway. Accounts show a fake balance worth thousands, aiming to attract inexperienced investors.
Also, it provides no details about its founders, headquarters, or registration status.
The site only launched recently (November 9, 2024). Experts suggest caution when dealing with new, unproven platforms.
Moreover, it isn’t regulated by any known licensing authority, casting doubt on its legitimacy.
Experts note that videos of Elon Musk endorsing OnSoMo appear manipulated, with unnatural mouth movements, rhythm issues, and out-of-sync voiceovers.
Many online reports tell similar stories of promises of free Bitcoin, followed by a processing fee, and eventual account lockout.
The site looks professional and uses Elon Musk’s name to attract users, but experts warn it’s a scam, offering fake bonuses and returns without delivering.
What To Do If You Get Scammed?
If you think you’ve been scammed on Onsomo.com or any other suspicious platform, take these steps to protect yourself and minimize losses.
- Keep any emails, messages, and screenshots related to the scam. These records will help when reporting to authorities and could assist with recovery efforts.
- Let your bank or the payment provider know about the scam. While you do not get your money back, they could offer guidance or freeze any suspicious transactions.
- Reach out to experts who deal with cryptocurrency scams. Be careful to only trust reputable professionals, as recovery scams can happen too.
- Post about your experience on forums and social media to warn others. Platforms like Reddit and Trustpilot have active communities where you can spread awareness and help others avoid the same trap.
Erika is a Computer Science student with a passion for reading and digital exploration. She loves to read personal growth books and spends her free time navigating various websites, improving her technological skills and understanding of web platforms. Erika is particularly interested in cybersecurity and stays updated on news related to scams and fraud. Her curiosity and dedication push her to pursue a career where she can innovate and improve digital safety and user experiences.