Ethereum is starting to attract some attention from the wrong crowd, as a blatant Ponzi Scheme is circulating on the Internet right now. ETHTrade, as this platform is called, promises users the moon and the stars. However, everyone can clearly see this is a scam website waiting to run off with the money.
ETHTrade Promises 25% Monthly Returns
Everyone who has browser the internet past the Google search website has come across some Ponzi Scheme at some point. All of these programs are built in the same way: users invest a bit of money in the hopes of getting big returns every week or month. In the case of ETHTrade, there are returns up to 25%, which is not bad for passive income.
Unfortunately for everyone who remotely thought this site was legitimate, it isn’t. The only way these companies can pay their users – if ever – is from the funds new investors put into this platform. Users who join ETHTrade will be forced to refer users if they ever want to see some money back.
More interestingly, the ETHTrade platform also promises to guide users so they can become pro traders in the Ethereum market. If everybody in the world became such an experienced trader raking in several thousand per day, there would be no market movements to benefit from. Moreover, if ETHtrade could legitimately earn 25% passive revenue per month, they certainly wouldn’t sell the secret to anyone else.
What makes Ponzi Schemes such as ETHTrade so enticing is how everybody can join. The website specifically mentions how it only takes US$10 worth of ETH to get started. Plus, there an affiliate program with an MLM system attached to it. Albeit there are legitimate MLM companies in the world today, there are zero of those in the cryptocurrency sphere.
Contacting this company is completely out of the question as well. There is no contact information on the website, although users can ask for a call back on the phone number they specify. The WHOIS records also reveal no information whatsoever, making this Ponzi Scheme even more fishy than it already did before.
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I think you need more evidence that it’s a ponzi scheme. The info on the website seems to describe something more like a managed investment fund.
They pay from trading profit, why do you think they pay only from new members? Btw, i’m already got my payouts from them, everything ok
I advise to understand better this company, it real and pays perfectly!
Watching the video on the site has all the tell-tale signs:
– incorrect information about what ethereum is and its benefits
– no explanation of the underlying insights, strategies, goals or techniques
– no support of why they should be considered experts
I don’t think it’s exactly a ponzi scheme because I’d guess they are actually gambling/trading the money. As long as they’re lucky they’ll pay out a bit, when they’re not they’ll declare bankruptcy and shutdown, having taken fees along the way.
If anyone could reliably make 25% a month, they wouldn’t waste valuable time and resources making a video.
“The latest Ethereum ponzi scheme” – what were the other Ethereum Ponzi schemes exactly?
Jack Wood: Chief of IDE
WTF….
Gee, you mean like Bernie Madoff’s “managed investment fund” that was a massive ponzi scheme? Do you really expect them to tell people it’s a ponzi scheme instead of making it look like a legitimate investment?
The only evidence required that this is a scam is the claimed returns that any experienced investor knows are entirely unrealistic.
I advise you to learn how a ponzi scheme operates. Of course it “pays perfectly!” right now. It’s paying you with the money they receive from new “investors”. The moment there is no new money coming in, your payments are going to disappear along with your initial investment. The only reason you are receiving any payments at all is so that you’ll tell your friends that it “pays perfectly!” and get them to “invest” as well. Eventually, there aren’t enough new people and the payments will disappear along with your initial “investment”. The whole point of a ponzi scheme is to get your victims to bring you more victims so you can make more money than you would simply scamming the first person.
Any intelligent investor spotted this as a scam the moment they promised 25% a month in returns. Call any broker or accountant you like and they’ll tell you the same thing.
“And by their fruits ye shall know them!”
OMG… you are the most smart?? do not teach us as it is necessary to live correctly! it is my money and I solve where them to invest! if you do not know but all states and banks are a pyramid if from a bank investors take away at least 20% of money bank there will be a bankrupt! this rule can be applied also to ethereum! therefore go teach the children, it will be much better.
Lol friend, i think my bank is a pyramid scheme. How can we live and make profits?)
My vote for this team. They know how to trade.
I’m not telling you what to do with your money. I was just offering you some information that most people find useful. You’re free to ignorantly invest your money however you like. Scams like this only work when people are willing to ignore logic in favor of fantasies of easy money. Don’t expect sympathy when you’re crying that you got ripped off.
HA-HA-HA! Moron it you) you shows as far as you useless creation or just an animal who is not able to control the head
I finish dialogue here, observe as we earn and slobber again and again)
provide proofs that it is deception! also can then I will believe you while I see only unfounded allegations and someone’s thoughts which have no anything to ethtrade
they were not and is not present) just people do not understand that it is possible to earn really on trade of an ethereum from 25% a month. Though the rate has grown already more than by 30 times in a year)
my new investment into the successful future with ethereum! I have opened a portfolio 1.15 BTC (id 53a2b890977766c3b35088ce2e8ef899b2c7ab48a862f4f769a28736f46137ae)
The real company – real money!
Hello! My name MAY! and that’s what I want to say is another pseudo expert writes nasty things on the forums. The site regularly pays its investors apparently this guy does not understand that any institution that works with the finances they have a pyramid there are explicit and implicit. Generally in conclusion I would like to add if you do not be afraid if you’re afraid will not do! And these rooms economists certainly have experience and knowledge in this area and therefore probably advise!
Thank you Sincerely May =)
I already did. You just chose to ignore it. Enjoy being a victim of one of the oldest scams in the book.
I read all this and I really wonder, why people still consider Ponzi something bad. As if it was something outstanding and absolutely not common in our everyday’s life. Look around guys. Haven’t you noticed that absolutely everything use the same Ponzi scheme. And prove me wrong. Just take as an example any country. If there are no newborns – there are no adults – as a result no country. Pnzi – pure! Or, lets’ take not so crucial aspect. No labours, no work – no pension payoffs. Because our retired parents receive money from those who pay taxes today.
You talk, like if Ponzi is the worst thing can happen to us. You try to demonise the principle core idea of humanity. Just same when people say that money is evil.
Of course in hands of ignorants money can be destructive power, but same time money itself – nothing, cut paper or even less simply zeros in a code…This attitude really makes me funny. Everything ends sooner or later, but we continue living 🙂 Nothing is eternal.
So, why we can not use possibilities the life gives us? I like the time I live. When you can do money online and do not fear of political or economical situation in the world. 🙂
I wish all happy earnings and huge cheques! Enjoy your life and smile! Ethtrade is the place where many people will perform good results!
Regards
ETHTRADE PROMISES 25% MONTHLY RETURNS. Really? can’t you read? “upto 25% profit” is not the same as “25% profit”.
I believe there are risk in everything. The smart way is to invest money in different platform so if something goes wrong with this site you still make money from different site. This is a smart way to minimize the risk.
today 10/10/2016 http://ethtrade.org/ website: 500 – internal Server Error … 🙁
i still making money invest and get paid everything runs fine
exactly
ahahahahah
ahahahahah how about now
Financial Scam which will soon be closed -save your money – http://profita.org/scammers/1172-the-ethtrade-limited-financial-pseudo-trader-pyramid-ethtradeio-ethtradeorg.html
I question why ‘The Merkle’ would post an old story which dates back to last year (June of 2016).
I invested in Ethtrade for over 9 months & the returns were as they stated. The company is transparent in providing weekly & annual financial reports.
The company was recently prohibited to accept customers from the United States due to the government and regulator’s short sightedness on cryptocurrency but Ethtrade provided ample notice and allowed me to withdraw my Profits of over $5,000 which I chose to leave with the company for compounding reasons. I made periodic withdrawals of more than $5,000 with no problems.
I suggest you do more research on the company. This type of rehashing of unsubstantiated information could cause your readers to not invest (and miss out on considerable profits) with a legitimate Investment company.
Although I can’t invest in the company for now … I strongly support them in providing profits and income for investors of other nations around the world.
Early adopters in these pyramid ponzi schemes can actually end up in profit when the scammers finally do run off with the funds.
The article seems very old written back on june 2016 at that time probably someone can have doubt regarding its legitemecy but ETH trade has now proved itself a very good professional company openning office all around the world conduct regular seminars and lessons on trading,
it s on ….
ojooo io. You are one true idiot. Compare your grasp on english to someone new to speaking your foreign tongue. That is how you come across. I know you want to be understood but you’re jumping the gun. Like a metal guitar player stepping on stage and trying to play a song he’s never played perfectly. Destined for failure. He might be able to learn it… but it takes time… time alone all shut up and practicing. you don’t deserve to be listened to at this point…
You say declare bankruptcy like it’s some legitimate business. How amusing.
For now. As with all the others before it in the bitcoin world. Get in early and you’ll do well. Let’s see if this lasts another quarter.
And you’ll say it’s fine and support their excuses when they suspend trading, hoping and praying they start back up again.
This Article is completely dumb. you dont valudate your facts. this is complete black propaganda.
Ethtrade is very transparent in every transaction…
We received a little less than 15% return but all got paid out.
Sometimes people hide their identites to escape local tax law.
Is it ponzi or not, we can only bet.
Isn’t the current fiat system just a glorified ponzi scheme?
As long as people only risk what they can afford to lose and understand there is a possibility of losing it I see no problem. No risk no gain.
Nice tut
I’m a little late to the conversation, but I wanted to add my professional response. The problem here is not the sales model, but the business model. “Word-of-mouth” referral advertising by individuals affiliated with a company is the most successful on-line and off-line marketing technique.
Legitimate businesses generate profits by delivering a product or service of value to the marketplace, for which consumers are willing to pay. The problem with this company and many other companies using a multi-level compensation plan is that they typically don’t have any retail customers. The only people paying money for the goods are the same people making money from selling the goods. This is the technical definition of a pyramid scheme – no or a very small percentage of retail customers. That’s assuming they have a product of value.
Ponzi schemes, named after Charles Ponzi in the 1920s, produce no products or services to generate profits. Their only source of revenue is from new investors. They keep the initial investors happy with the illusion of an ROI to keep the scheme running to attract more victims.
Business should be a win-win for everyone. The consumer is happy and the product/service provider is happy. Ponzi schemes are a win-lose proposition. Eventually there is not enough new money coming in to satisfy the ever-growing base of old investors, causing them to always collapse, leaving the vast majority of the investors with nothing. Many times desperate people out of greed invest more than they can afford to lose, and end up losing everything including their life savings. Extreme situations have lead to suicide. Ponzi schemes are not just a social experiment but are a devastating abuse of public trust preying on the unfortunate greed of most people.
A new hybrid-Ponzi has emerged with cryptocurrency. The businesses do generate profits, but nothing near their promised ROIs. Cryptocurrency mining and arbitrage trading are a couple examples of hybrid-Ponzi schemes. The average uninformed person can see that money can be made mining cryptocurrency. And they can see that bitcoins can be purchased on some exchanges at a lower price and sold immediately on other exchanges for a higher price. What they don’t see is that these business models are not scalable to produce the high profits they promise.
This company like many others is not illegitimate because it uses a multi-level sales model, but because it does not have a sustainable business model.
Got burned now?