In the wake of Hashocean shutting down, Bitcoin users are looking for new ways to increase their holdings. Unfortunately for then, the number of Ponzi schemes continue to increase at an accelerated pace. BTCPanda is one of the most recent platforms to launch, offering users up to 12% return every day, depending on how much they invested.
As the name would suggest BTCPanda is designed to lure in unsuspecting investors. Moreover, the company is making some very bold claims which no legitimate company would ever be able to back up. Everyone knows that investments have little to no chance of paying themselves back in a less than three weeks.
Despite those obvious concerns, BTCPanda is attracting a lot of Bitcoin users as of late. This has partially to do with the promised returns this platform offers, ranging from 5% to 12% every single day. Investing more money and referring more members will increase user rewards, of course.
The only reward available will ultimately go to the people who run BTCPanda. This is a clear Ponzi Scheme, which will only pay for as long as people keep spending funds on it. Once these deposits start drying up, there will be no further payouts, and users will lose all of the money they have invested.
The statistics on the website are only adding to the fake claims, though. BTCPanda claims to be online for over 215 days, with nearly 30,000 accounts. Moreover, there is over 60,000 Bitcoin invested in this program, which would mean the average deposit is close to 300 Bitcoin.Impossible at best, to say the least.
The WHOIS records show that BTCPanda may be online for as long as they claim, though. The last update was made on March 29th, and the domain was registered in November of 2015. However, with no company information on the site, it is hard to lend any credibility to these outrageous claims. Stay away from BTCpanda and invest your funds wisely, that is the best advice anyone can give right now.
Images credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Velocity Ticket is trying to fix a major gap in businesses, and the approach it…
Axelar is moving fast to contain damage after identifying a security incident that has resulted…
suiUSDe now has a dedicated landing page. The token, officially the eSui Dollar, comes out…
Ventuals has fully wound down its HIP-3 DEX, and vHYPE withdrawals are now open. The…
Avalanche has launched the Avalanche Payments Collective, bringing together 28 organizations spanning nearly every layer…
A wallet tracked as 0x5f91 just opened a fresh 5x leveraged long on ASTER, putting…
