So, you’ve seen Colorwiz pop up in WhatsApp groups, Insta reels, or random Telegram channels promising “double your money in minutes”. Tempting, right? But before you throw your hard-earned cash at it, let’s hit pause. Is the Colorwiz app real or fake?
Let’s break it down, what it is, how it works, and why so many people are waving red flags.
Colorwiz App Review
Colorwiz is basically a “color trading” app. The game looks simple:
- Pick a color (red, green, or blue)
- Place a bet
- If your guess is right, you win money.
Sounds like easy cash, right? But here’s the catch:
- They let you win small amounts at first, so you feel like a genius.
- Then, when you start putting in bigger money, withdrawals suddenly “get stuck” or accounts get blocked.
- Bonus bait: they give you rewards for referring friends (classic pyramid scheme vibes).
Is Colorwiz Legal in India?
Short answer: Nope.
Colorwiz isn’t registered with SEBI, RBI, or any legit authority. It’s straight-up online gambling disguised as a “fun little game.” In India, gambling apps that aren’t government-approved are illegal.
So, not only is it risky for your wallet, but it could also land you in legal soup.
Real-Life Scams Linked to Colorwiz
This isn’t just internet gossip. There are actual cases:
- People losing savings: Many users say their withdrawals never came through. Some even took loans and ended up in massive debt.
- Cybercrime complaints: Cities like Hyderabad, Bengaluru, and Chennai have seen floods of complaints.
- ₹1,600 Crore scam busted in Hyderabad: Yep, that’s 1,600 crore! Police found Colorwiz was part of a huge fraud network.
- Foreign links: Investigations found Chinese nationals were involved in running the racket.
- ED probes: The Enforcement Directorate is digging into the money laundering behind these apps.
Basically, this thing is way bigger (and shadier) than a “fun little color game.”
How to Spot Color Trading Scams?
If you don’t wanna get trapped, watch out for these signs:
- “Get rich quick” promises (if it sounds too good to be true, it is).
- Heavy referral pressure (when you make more by recruiting than actually playing).
- No transparency about owners.
- Withdrawals are getting blocked/delayed.
- Flashy, addictive interfaces designed to keep you hooked.
How to Report Color Trading Scams?
Okay, so let’s say you (or someone you know) already got caught in this mess. Here’s what to do:
- Gather proof like screenshots, transaction IDs, etc.
- File a cybercrime complaint
- Lodge an FIR at the local police station
- Block suspicious activity in your bank account
Need help?
Register with us, and we will guide you with the process to report your complaint online and to further escalate it, if required.
Conclusion
Colorwiz might look like an easy money hack, but in reality, it’s just a dressed-up scam. It’s unregulated, unsafe, and countless people have already lost lakhs to it.
Instead of gambling your money away, put it in legit investments—mutual funds, FD, SIPs, or even just a side hustle. At least those are real.
And please, share this with your friends/family. Scammers thrive when people stay silent.
Bottom line: If you value your money, stay away from Colorwiz and its copycats.
