As with anything in this universe, once a certain product/service/technology starts to become popular, many scammers come out of the woods to make their small share of profit via the luring of unsuspecting investors. The Crypto industry is no exception, and in the past few months, there have been more than 100 ICO’s that have turned out to be scams.
Apoub is an all new crypto service, that claims to ‘exponentially increase’ the returns of any inventors who participate in this program. However, from the get go, this product appears to be fake as it uses the same design/interface as that of RegalCoin (a legitimate crypto start up).
Apart from the visual appearance, Apoub has even stolen the company’s white paper and simply changed the name from RegalCoin to Apoub Coin, wherever applicable.
Signs to be Vary of
(i) Stolen Intellectual Property:
The creators of Apoub have literally put in no effort into the design of their website, and have simply stolen the structure of RegalCoin, and tried to pass it off as their own.
(ii) No Owner Details:
APoub.com has provided no links to any persons who claim to be running this service (or at least involved with its operations). In addition to this, the apoub website domain was registered only recently, on the 10 th November ,2017, thereby indicating that this company has only been around for just more than a month.
(iii) No Address or Contact Details:
Upon doing a simple search on who.is, we can find that the name and address of the person behind the project is not available. There is not even a office address outlined on the company’s page (something which obviously indicates foul play).
(iv) MLM Structure:
The company uses a Multi Level Marketing strategy to promote its product. However, if an MLM company is not upfront about its ownership, it is advised to not invest in such a venture.
(v) No Retail Products:
Apoub is offering absolutely retailable products or services.
Other Dodgy Details
(i) Unrealistic ROI’s:
Similar to many other scams and fraudulent services, Apoub also offers its potential investors with highly unrealistic return plans. According to the website, Apoub is offering the following schemes to its investors:
- Invest $100 to $1000 and receive a monthly ROI of up to 55% for 170 days.
- Invest $1010 to $5000 and receive a monthly ROI of up to 55% plus a guaranteed 0.20% monthly ROI for 150 days
- Invest $5010 to $10,000 and receive a monthly ROI of up to 55% plus a guaranteed 0.30% monthly ROI for 125 days
- Invest $10,010 to $100,000 and receive a monthly ROI of up to 55% plus a guaranteed 0.40% monthly ROI for 80 days
These figures are overtly exaggerated and cannot be sustained for more than a few months at best.
(ii) Ponzi Structure:
Apoub uses ‘referral commissions’ that are doled out in accordance with a unilevel compensation structure.
(iii) Joining Fee:
Just to become part of the organization, users are required to invest
at least $100. This in itself is a clear sign of this whole project being a scam.
As mentioned earlier, Apoub makes use of a now common “cryptocurrency lending” Ponzi business model. Under this scheme, users are give worthless coins in exchange for real currency. Thus, we would strongly advise anyone looking to invest in this project, to refrain from doing so and save their money on something else that is worthwhile.