Ethereum CryptoLava

Ethereum CryptoLava is a cryptocurrency scam that promises to give you Ethereum with no work or risk required. Find out how it works today in our Ethereum CryptoLava review.

What Is Ethereum CryptoLava?

Ethereum CryptoLava, found online at CryptoLava.com, describes itself as “the world’s biggest crypto binary network.”

The scam has been promoting one specific aspect of its business lately called Ethereum CryptoLava. That aspect of the business is focused on recruiting people to some type of Ethereum-generating scam.

Ethereum CryptoLava describes the opportunity as “the world’s first fully automatic Ethereum instant auto binary.”

Like other multilevel marketing scams, this is essentially a pyramid scheme fueled exclusively on membership fees. There are no products or services being sold here. It’s just a pyramid scheme that tosses around cryptocurrency-related words.

How Does Ethereum CryptoLava Work?

Here’s the step by step process as outlined on the official website:

  • Step 1) Register your account with the pyramid scheme
  • Step 2) Give the pyramid scheme money in the form of BTC, ETH, or LTC; once the company has received your deposit, your position in an instant binary is confirmed
  • Step 3) Continue giving the company more money to “upgrade” your positions
  • Step 4) Convince other people to join the pyramid scheme and pay membership fees; you get a small portion of their membership fees while the majority of the fee gets funneled to the top of the pyramid

That’s essentially how Ethereum CryptoLava works. Your joining fee is $3, although you’ll need to pay $30 USD to start actually making money through the scheme. There’s no evidence that anyone has ever been able to withdraw money from the scheme, or that anyone has made any money. Based on everything we can find online, your money is gone after you deposit it into the scheme.

Ethereum CryptoLava Pricing

There are four different packages available. Just like with most online scams, the company does its best to convince you to give them as much money as possible. The $3 “Starter” pack doesn’t appear to have any function.

  • Eth Starter: $3
  • Ethereum Auto: $30
  • Ethereum Silver: $150
  • Ethereum Gold: $300

The only difference between memberships is your earning potential. The Starter pack comes with a daily limit of $6, for example, while the $300 package comes with a daily limit of $600 (again, there’s no evidence that you’ll make any money).

The scheme is also vague about how much you’ll pay. The prices listed above are advertised as a one-time fee. In reality, however, you’ll need to pay these fees every 30 days (for the Starter pack) or once a year (for the Gold pack).

On top of these fees, Ethereum CryptoLava will also charge you $20 to withdraw any earnings plus a fee of 3% (again, we couldn’t find any proof that anybody has successfully withdrawn any earnings from the platform).

Who’s Behind Ethereum CryptoLava?

Ethereum CryptoLava appears to be run by a Texas-based company.

Based on the company’s Facebook group, it seems to be particularly popular with internationally-based scam artists, including plenty of members from Nigeria and India.

The CryptoLava website refuses to disclose much information about the company’s origins, management team, or location. However, the admins for the company’s Facebook group appear to be high-ranking members of the company.

The Facebook admins include Rajini David, a Hyderabad, India-based man, and Srinivas David, also based in Hyderabad. The pair have previously supported scams like Cash Back Marketing and the We Work Together Network.

No other names are listed on the official website, and no contact information is available aside from a single online form.

The only other “clue” is that Ethereum CryptoLava YouTube videos are published under an account called SD Team. WHOIS registration data also tells us that the website was registered on July 3, 2017. The scam is currently hosted online by a company called A2 Hosting.

Ethereum CryptoLava Conclusion

Ethereum CryptoLava, also known simply as CryptoLava, is a scam that doesn’t appear to be connected with Ethereum in any way. You give the company money in the form of USD, and then you try to convince other people to join the pyramid scheme. There doesn’t appear to be any product or service being sold here – you’re just selling memberships.

You should never give your money to anyone online without knowing who they are. CryptoLava refuses to disclose any information about its management team or its location. They expect you to send money to an anonymous, shady source with no guarantee you’ll see that money again. The two names linked to the project – including Facebook group admins RAjini David and Srinivas David – appear to have been linked to previous scams in the past.

Ultimately, Ethereum CryptoLava appears to be like most other cryptocurrency scams making their way across the internet: they convince users to join the system with promises of easy earnings opportunities, deposit money, then disappear and steal everyone’s money in the process. We have absolutely no evidence to prove that Ethereum CryptoLava is a legitimate investment opportunity.

TOP GUIDE ON HOW TO BUY BITCOIN TODAY

Enter Your Email To Receive Weekly Cryptocurrency Coin Reviews, News & Investing Insights

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here