CEOs Of Failed Crypto BitClub Ponzi Offer New Solution, Another Ponzi Scheme?
Crypto BitClub (CBC) has been deemed a Ponzi scheme and has since never been looked back upon. Their plans to scam investors were first exposed when CEOs Joe Yagudaev and Ramon Escalera introduced the platform as supporting bitcoin mining and has promised many investors of a Return on Investment (ROI) of 1 percent. What made CBC an obvious multi-leveled marketing, was investors’ claimed possibility of earning 30 percent commissions and the lack of information regarding bitcoin mining.
According to a recent post shared by Behind MLM, the team involved managed to steal funds and ran off entirely. It was also noted that the same team attempted a similar scam via an Initial Coin Offering (ICO), however, dubbed as a “SEC registered”, the ICO failed to take place.
Now, it seems that the team involved has come up with what they call, a “solution” to the problem at hand. The direction they will be taking is by calling out investors to provide the necessary funding to get CBC back up again. In order to participate in this effort, investors are asked to contribute 15 BTC, which as per its current rate comes out to about $100,000.
It appears that investors will gradually get their funding back with high ROI. As per the CBC website, “Investors will receive their money back after 90 days. […] they will receive 2.5% weekly on their deposits (10% per month). In total they receive 20% return over 3 months. No binary is paid.”
Apparently, CBC was used to scam investors, not once but twice so far. One might wonder what will give investors the confidence needed to contribute to this proclaimed solution and according to the CBC Admins, there are several reasons. Behind MLM has highlighted some of them, including their “100% management and control over BTC accounts, no money is transferred to third parties, the yearn to pay back members, and supposed intentions are different compared to the rest” to name a few.
Investors should be watchful of anything mentioned via CBC, as one’s contribution will neither be cancelled, nor will one be refunded.