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.