Freewallet/FWRT: A Crypto Wallet App Accused of Withholding User Funds for Nearly a Decade on Google Play and App Store

For nearly ten years, a controversial crypto wallet app has been operating openly on Google Play and Apple's App Store-first under the name Freewallet, and now rebranded as FWRT. Despite thousands of complaints and overwhelming evidence of problematic practices, this app continues to be listed and promoted as legitimate by the world's largest app platforms.

While many questionable crypto apps come and go, Freewallet/FWRT has remained active, removing complaints, silencing affected users, and manipulating its public image.

The official subreddit r/Freewallet_Org is heavily censored. Today, all user posts are removed, and users are blocked from sharing their experiences. A separate subreddit, r/Freewallet_truth, created to expose these issues, was mysteriously banned-raising questions about coordinated takedown efforts.

The company has also paid for fake positive reviews across multiple platforms, including Cryptogeek.info, Coinbureau, and Google Play. These sites continue to list Freewallet as a "top-rated" wallet, misleading new users. Meanwhile, Trustpilot and crypto community forums are flooded with real user reports detailing identical patterns of unresolved withdrawal issues and lack of support.

The Modus Operandi
The pattern follows a consistent and concerning sequence:

Users download the app, deposit funds (often mining proceeds or purchased coins), and initially encounter no issues.
When attempting to withdraw, Freewallet/FWRT blocks access and demands "identity verification" through KYC (Know Your Customer) procedures.
Even after submitting documents (photos, IDs, bank statements), users are asked to repeat the process with changing and unreasonable requirements.
Eventually, communication stops. The funds are never returned.
Many users report that the moment they start demanding withdrawals, they are locked out of their accounts, and support stops responding. This has been happening since at least 2017, with no signs of improvement or accountability.

Every day, new users are exposed to these unresolved issues, believing it to be a legitimate app due to its presence on official stores and fake positive reviews.

Tracing the Funds
Blockchain analysis shows that user deposits are quickly moved out of Freewallet-controlled addresses. In one example, funds were sent to an address tied to the exchange HitBTC, another platform frequently accused of withholding withdrawals. This raises red flags about possible coordination with known problematic actors or the use of exchanges to move user funds.

A Possible Russian Connection
While not the focus of this article, it's worth noting that Freewallet's registered addresses have changed over the years, and recent research suggests possible ties to Cryptex, a crypto platform sanctioned by the U.S. Treasury under CYBER2 / Russia EO14024 for cybercriminal activity and money laundering. These shifting legal addresses make accountability even more difficult.

Testimony: Emiliano Ricciuti
My name is Emiliano Ricciuti, and I am one of the many users affected by Freewallet's unresolved withdrawal issues. I reside in Spain. In 2021, I deposited Ethereum into my Freewallet account. When I tried to withdraw my funds, I was immediately asked for KYC verification via email, including a bank statement. I sent the requested documents, but then they asked for the same documents again. Each time I complied, they would request the same or different documents, creating an endless loop. After a while, they stopped responding altogether. For over a month, I received no replies.
It is now 2025, and I have still not recovered my money. My experience is identical to hundreds of others reported online.
I have attached a screenshot of my account showing that I am unable to withdraw my funds.

I am also in contact with other affected users who are willing to share their stories and documentation.

A Call for Accountability
Freewallet's continued presence in Google Play and Apple's App Store is deeply concerning. Both platforms have failed to act despite overwhelming evidence and thousands of user complaints.
It is unacceptable that an app with a long history of withholding user funds is still publicly listed and promoted as legitimate.

How many more users need to be affected before Google and Apple take action to protect their customers?

What Needs to Happen
Affected users should report Freewallet to local police, national cybercrime units, the FBI's IC3, FinCEN, and other financial authorities.
Crypto review platforms must remove fake ratings and publish verified user feedback.
Journalists and watchdogs should investigate the ties between Freewallet, Cryptex, HitBTC, and their associated entities.
Google and Apple must remove the app immediately.

Vicente Lopez 270, Rio Grande, Argentina

Emiliano Ricciuti is a Spanish crypto user and one of many victims of Freewallet. He is committed to exposing ongoing fraud in the crypto industry and supporting other affected users.

This release was published on openPR.