There are many different scams operating in the cryptocurrency ecosystem that are highly effective in separating unsuspecting investors from their money. The most common scam in the cryptocurrency ecosystem comes in the form of excessively generous investment schemes that appear to be able to deliver guaranteed returns on investment.
While there are a number of reputable investment programs that do deliver daily returns, many of them are simple elaborate Ponzi schemes that use new investor money to pay out withdrawal requests from legacy investors. At some point, these schemes inevitably collapse, causing all investors to lose their money.
In this article, we’ll take a look at a new addition to the roster of cryptocurrency scams in operation today, Stargate LTD. We’ll examine the Stargate LTD platform and find out what it claims to deliver, as well as examine the key factors that demonstrated that it is indeed a scam to help you identify scams in future.
What Is Stargate LTD?
Stargate LTD is a new cryptocurrency investment program that claims to deliver a daily guaranteed return on investment. The Stargate LTD platform itself is extremely gaudy, and borrows heavily from the imagery of the Stargate television series to create a science-fiction theme.
How Stargate LTD Claims To Work
Stargate LTD operates on a domain that was registered in July 2017, and lists Sergey Frolov as the operator, a name that has been used to register a number of other fraudulent cryptocurrency investment scams such as Ensis.
Stargate LTD offers a selection of different science fiction themed investment plans that promise to deliver returns from 1% daily to 4% daily in perpetuity. The Stargate LTD platform has a minimum investment of $10 USD.
Stargate LTD Red Flags
The biggest red flag that identifies the Stargate LTD platform as a scam is the gaudy science fiction theme, which speaks volumes about the integrity of the investment program itself. Another red flag is the following disclaimer that can be found within the terms and conditions of the site itself:
“The administration is not responsible for any possible loss as a result of the collapse of the System.
The administration has the right to restart the service, reset any credentials when reaching the zero balance account System.
Stargate LTD Conclusion
It’s clear that the Stargate LTD platform is nothing more than a Ponzi scheme. Unless you’d like to see your investment account traded to zero, Stargate LTD is best worth avoiding.