Unlike exchange wallets that may require KYC (Know Your Customer) verification, wallets created through Avacus are non-custodial wallets, meaning that you own and manage your own keys. No account registration or SMS verification is required, and you have full control over your assets.
How the Scam Works
Some scammers exploit characteristics of non-custodial wallets and blockchain technology, such as not requiring an account and making it difficult to identify the recipient of a transaction because wallet addresses do not have unique names. They may impersonate Avacus or other wallet service providers and ask you to deposit your assets, making it appear that they are managing or investing them on your behalf. When you try to withdraw your supposed profits, they may claim that you need to pay an additional fee of tens or hundreds of thousands of yen before the withdrawal can be processed. They will then continue to demand additional payments, but your assets will not be returned regardless of how much you pay.
Avacus's Official Position
Avacus does not offer or promote any services that involve "holding your assets" or "managing your assets on your behalf." As stated in our Terms of Service, all wallets in the Avacus app are non-custodial wallets managed by the users themselves. Avacus does not hold or manage your private keys or seed phrase, and you remain in control of access to your wallet.
How to Identify and Avoid Scams
Be cautious of the following types of language and characteristics. These are common signs of financial scams not only when someone is impersonating Avacus, but also when impersonating other services.
- "You are guaranteed to make a profit by depositing funds" or similar claims that someone will manage your assets for you
- A URL that is unusually long or uses an unfamiliar domain
- Support provided through social media or other unofficial channels instead of the official support form within the app
Official Avacus websites and services use the following domains: "avacus.cc" (service), "avacus.freshdesk.com" (support portal), and "sowaka.io" (operating company). Be especially cautious of websites that claim to be affiliated with Avacus while using other domains, particularly if they ask you to deposit or transfer assets or connect your wallet.
If you encounter suspicious solicitations or suspicious websites, do not deposit funds or connect your wallet. For more information, please contact us through the official support form within the app.
Related articles: How to Contact Us / Precautions When Connecting Your Wallet to a DApp