More

    Mighty Ducks Star Brock Pierce Endorses Potential Crypto Ponzi EXW Wallet, Before Deleting Tweet

    Crypto scams have in the past become a popular way to rip off unsuspecting investors looking to join the digital currency space. Brock Pierce, one of the crypto market billionaires, was recently accused of giving an endorsement to a probable scam dubbed ‘EXW Wallet’.

    The prominent crypto figure attended a convention held by EXW Wallet’s team at the beginning of 2020. Some stakeholders in the crypto community have however raised concerns about the legitimacy of the project given its structure is similar to previous scams. Brock who was formerly at Block.One has since deleted the tweet in which he endorsed the potential MLM crypto scheme;

    This space is so fucked up. Mr. EOS, Brock Pierce, supports the most obvious scam "EXW Wallet" by being a guest speaker. This ponzi scheme promises 0,33% on your investment per day – generated by a trading bot. 2020 and people are still falling for shit like this. from CryptoCurrency

    As it stands, the project has promised a 0.33% daily return on investment for users who deposit digital assets with them. Furthermore, EXW Wallet has partnered with Crypto Trust Consulting; the latter claims to be registered within U K’s laws. Records by the Financial Conduct Authority, however, tell a different tale and it appears that Crypto Trust Consulting is not registered by the regulator as purported. The firm is also on Austria’s Financial Market Authority blacklist after it emerged that its investors had zero protection from a loss of funds.

    Big Fish in Crypto Promoting Scams

    Several warnings have been issued by both authorities and legitimate crypto-oriented businesses against the rampant scams within this industry. Some investors are however still falling prey for MLM designed schemes given the crypto ‘figures’ associated with the projects. The EXW Wallet is a perfect example; this project was identified as a Ponzi back in September 2019 by BehindMLM.

    The idea by EXW Wallet is to pay out higher returns to early joiners and increase this value based on how one's affiliate portfolio grows. This will be done through EXW token which currently has an insignificant value given they do not trade on any major crypto exchanges. It, therefore, raises the question of whether Brock Pierce is indeed aware of the shady operations or just another crypto celebrity victim?

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

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

    Lujan Odera
    Lujan Odera
    Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,267FansLike
    2,734FollowersFollow
    4,093FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Swiss Private Banking Giant Julius Baer Adds Digital Asset Trading And Crypto Custody Services

    The major Swiss wealth management and private banking group Julius Baer just launched, in partnership with Seba, its new custodial and trading cryptocurrency services. The...

    Iran's Ministry of Industries, Mining, and Trade Grant More Than 1,000 Crypto Miners Licenses

    Iran is regulating crypto miners after a new licensing regime has been introduced by the country’s government. According to an official representative from the Iranian...

    CME Gaps for Bitcoin Price Fill over 95% of the Time: Research

    CME Gaps are popular topics that frequently get talked about in the crypto market, which usually has seen Bitcoin dumping. These Gaps occur because unlike...

    The Upcoming Cut in Bitcoin Supply Means Zero for BTC Price Says, Analyst

    Searches for bitcoin halving on Google Trends on an uptrend “Makes no sense” to discuss if the halving is priced in says economist...

    WEF's New Global Consortium To Focus On Cryptocurrency Governance Framework

    The World Economic Forum (WEF) has announced the creation of a global consortium which will come up with a governance framework for all cryptocurrencies...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.