Latest Updates on the Possible Cloud Token Exit Scam as Users Experience Withdrawal Delays
Cloud Token is a platform that describes itself on its website as a “decentralized wallet.” Allegedly, according to a Behind MLM report. the platform is changing its approach of trading revenue to pay investors to a mandatory SIM card service and Ronald Aai confirmed when such a change happens, the company ceases company-funded withdrawals. Withdrawals will instead be processed through a third-party company called Ribbons.
Behind MLM further reports that Ribbons does not actually exist, despite Aai’s claim, and rather, it is a shell company that Cloud Token set up. And that Cloud Token will pay for returns with previously invested funds, and that only funding withdrawal requests will be seen by new investors. As for investors, the report indicates that investors are not reacting yet, it is due to Aai’s cryptic posture as to these points.
In a separate and slightly prior report, Behind MLM discussed the Cloud Token withdrawal suspensions. The report shows the platform’s recruiters raising the issues on social media. For example, one by the name of Shohan Bowala claimed that the platform’s withdrawal issues were taking place for five weeks as of October 23, 2019. The report also indicates that Aai has not addressed the withdrawal situation publicly.