Freewallet Multi Crypto wallet: easiest way to lose assets

You’ve probably come across the name Freewallet at least once in discussions of crypto wallets. This application allows you to store hundreds of coins and tokens, including BTC, Ethereum, Monero, Bytecoin. Moreover, the name Freewallet hints at the absence of transaction fees, which, of course, cannot be true, but still attracts customers with the low cost of transfers.

But there is an important nuance. Freewallet is a scam. This application is designed to steal assets, and in today’s review we will tell you how this scheme to deceive gullible users works!

What is Freewallet?

First of all, it needs to be emphasized that there are 2 different applications for storing tokens and coins with the same name.

Freewallet io multi-currency wallet is not mentioned as a scam app. Of course, this does not mean that we recommend or advertise it. You can look through customer reviews and decide for yourself whether this wallet is right for you.

Another thing is Freewallet org. This site advertises a service that positions itself as reliable, secure, and convenient. But it’s all a lie. Freewallet is a scam.

 

 

Is Freewallet safe to use?

To find out the answer to this question, you can look at the reviews and comments yourself. It’s just important to choose neutral platforms for this, allowing everyone to leave an opinion. Otherwise, there is a risk of succumbing to scammers’ advertising and losing your savings. Look at the screenshot above. In it, the client briefly but succinctly describes the essence of Freewallet KYC fraud. The administration selectively blocks user accounts, after which they require documents for KYC/AML verification. But in the end, their documents are rejected and the client is unable to withdraw the assets.

In fact, we are talking about a scam, but the actions of the administration formally look legal and make it possible to steal assets without falling under legal liability.

If you want to know whether Freewallet is safe to use, first of all, carefully read such complaints. They can be found on Reddit, Bitcointalk, Bitcoinforum and other resources. Almost everywhere, clients complain about the theft of their assets and inadequate actions of the service administration.

Yes, the creators of Freewallet claim that their application is protected from hacking, and the coins are in cold storage. But the key risk for clients is not in some third-party criminals, but in the administration itself!

Is Freewallet legit?

This is the second most common question about a wallet. In this case, you can understand the users. It is important for them to understand that the creators of the service operate within the legal framework and can file an official claim against them if necessary.

The answer to the question is Freewallet legit can be found here. But for you the short answer is no!

·         Freewallet owners hide their names. The app’s website states that the co-founder and CEO is Alvin Hagg. But we came across quite a few references online confirming the involvement of Russian natives Dmitry Gunyashov and Vasily Meshcheryakov in the project. The question really arises, why then don’t these people officially recognize themselves as co-owners? Maybe in order to avoid liability?

·         Freewallet org doesn’t have official owner. The website itself mentions a company from Hong Kong, Wallet Services Limited. But it ceased to exist in 2022. This further confirms the version about the fraudulent nature of the application.

 

Real Freewallet reviews