At the beginning of 2024, advertising reviews of the new wallet appeared on many websites dedicated to cryptocurrency. An app called FRWT has often been praised as a new non-custodial wallet. In fact, this is not only just a rebranding of Freewallet, which has long been familiar to the public. Moreover, FRWT is the same scam. Moreover, as in the case of Freewallet, the service administrators are trying to hide the fraudulent essence, but it can be seen from afar!
Google play banned FRWT for potential scam
We want to mention this fact right away so that the reader does not think that our goal is to cast a competing application in a negative light. We do not advertise any other wallets. It’s just that FRWT, like Freewallet, is created to steal client assets under the pretext of KYC/AML procedures.
KYC fraud
Some users claim that after they have deposited funds into their Freewallet accounts, the administration suddenly imposes strict KYC verification requirements. Even after providing the requested documents, users report that their accounts remain locked, with no access to their funds. The users’ funds are essentially frozen indefinitely, which has led to accusations that the platform might be using KYC as a pretext to seize or withhold funds.
Run away!!! Those people get you into a false KYC procedure and asking for pictures, videos and documents. This is how dozens of clients see Freewallet administration actions.
FRWT wallet is the same scam
Some readers might ask: you were talking about FRWT wallet review, why do you mention Freewallet?
Because those wallets have same owners and are using same method of deceiving customers!
Take a look into FRWT crypto wallet terms of use.
In case FRWT detects suspicious activity on a FRWT account, FRWT conducts AML/KYC procedure for the user. To be sure that nobody has unauthorized access to the user’s account, We ask you to provide all necessary information for verification, including without limitation an ID, photo, screenshots showing the source of all your incoming transactions etc.
This actually mean that administration may block your account, telling you that there were some “suspicious transactions”. Look at the customer reviews of FRWT’s predecessor, Freewallet. You will see that KYC/AML is just an excuse to steal assets!
Of course, there are no negative comments on the official pages of the wallet: moderators immediately delete them. But there are dozens of complaints from deceived clients on independent resources.
Never use this scam!
There are hundreds of different crypto wallets. We encourage clients to choose any one based on personal preferences. It is advisable to use non-custodial wallets. But the main thing is to carefully study customer reviews and independent opinions on different sites. Otherwise, there is a risk of downloading a fraudulent application like Freewallet or FRWT and losing your assets. Never download FRWT, it’s a scam!
If you’ve been scammed by FRWT or Freewallet, please don’t hesitate to reach out. Share your experience with us at freewallet-report@tutanota.com. Your story is important, and together, we can take steps to fight back against these fraudulent operations.