USI-Tech Crypto Ponzi Scam Urges Victims to Use TechCoinDeals After Failed ICO

As unfortunate as it might be, USI-Tech Ponzi scheme hasn’t completely collapsed. Yes, it’s alive and surviving. It seems that plans are underway for USI-Tech to escape the Ponzi scheme mess through the TechCoinDeals ICO.

Just as in any ICO, there’s always the promise that once the token is listed, its price will increase incredibly. The same is being promised to those that fell for the USI-Tech investment Ponzi. The firm promised investors that they would receive a return on their investment once the TechCoinDeal is listed on an exchange. Luckily, the scammers were intercepted by US regulators before much damage was done.

What’s the Relation Between TechCoinDeals and USI-Tech

Basically, TechCoin is being developed by USI-Tech who is keen to have it listed on exchange. In order to facilitate this, USI-Tech has set up TechCoinDeals which is an e-commerce website where holders of TechCoin can buy items using the coin or Bitcoin.

The current value of TechCoin (TCI) on the website is 0.5 EUR with some dummy ‘luxury’ items displayed for customers. Some of these items include an iPhone X 318.5 TCI+ 0.109 BTC and a Mac Book retailing at 803.75 TCI +0.276 BTC. It’s worth noting that the items can’t actually be purchased which raises a red flag.

Here’s what TechCoinDeals has to say…

Some of the information that you will find on the site states that the platform encourages TCI coin holders to join the live community on the platform in order to actively buy, sell and bid for products. The platform states that it’s focusing on getting TechCoinDeals running and building an active community of TCI users. Consequently, they will move to launch the coin to the crypto market which will definitely boost the price of the coin.

In all honesty, it’s close to impossible that the USI-Tech investors actually bought the TechCoin. Therefore, it’s most likely that they won’t have any TCI to transact on the platform. Furthermore, internal trading of TCI isn’t permitted since doing so will lead to a sharp decline in its value. It seems that this move is to blind investors from filing more complaints with the US authorities.

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.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[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


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Is Bitcoin Out of the Woods Yet or Are We Looking for Deeper Losses?

This week has been somewhat of a whirlwind. We entered the week on a negative note, with a weak performance on the past weekend. On...

Despite Regulatory Uncertainty, Huobi Exchange Launches A Mobile Trading App for Russian Users

Huobi, one of the leading crypto exchanges, launches a mobile trading app for its Russian customers. The new mobile trading app would allow Russian...

Parity Technologies Releases Substrate 2.0 to Build Custom, Scalable Blockchains Interoperable with Polkadot

Substrate has achieved a major milestone; the blockchain framework has released version 2.0, which is also compatible with Polkadot, which, along with Kusama, is...

Bureau Of Fiscal Service Revisits Blockchain Technology Development To Streamline Grants

The Bureau of Fiscal Service, BFS, is focusing its energies on innovative technologies such as blockchain technology in a bid to enhance the government’s...

Lightning Network's Ready for the Next Step in its Evolution; Bitcoin Capacity Across Channels Hits Peak

The cumulative capacity across all channels on the layer 2 solution of bitcoin Lightning Network has hit an all-time high at 1,106 BTC, worth...

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.

Start Using Crypto Today