Scam sites in the cryptocurrency world are not just limited to Bitcoin these days.Ever since Ethereum started gaining in popularity, Internet criminals have created new Ponzi Schemes to try and ride the coattails of this project. EtherFund.biz is an apparent Ponzi Scheme to any level-headed person, yet people continue to fall for their tricks.
Looking over the EtherFund.biz website, it becomes apparently rather quickly something is seriously wrong here. It is not unusual to see people run a scam site for Bitcoin, but Ethereum users have been left alone most of the time. Etherfund.biz, however, wants to attract unsuspecting Ethereum holders to “invest” their money.
Granted, the Etherfund.biz website is apparently run by a company called Ether Group. Do not confuse this entity for some legitimate corporation, though. Nor should users be fooled by the enterprise registration number on the website. Anyone in the UK can obtain a number for a small fee, and it adds zero legitimacy.
On the main page, a recent news post indicates the company has been around for just over 100 days. That seems rather strange, considering the company registration number was only granted on June 7, 2016. That is roughly 70 days before this article being published. Either they ran the scheme illegitimately – although they still do – or this is just another fake claim to attract new investors.
To make matters even stranger, the company accepts a wide variety of payments. Perfect money, Payeer, AdvCash, and Bitcoin are all supported. But for a company that claims to invest in Ethereum, wouldn’t it make more sense to accept Ethereum payments as well? Plenty of existing ETH holders wouldn’t mind a legitimate opportunity to increase their balance.
Speaking of growing one’s balance, Etherfund.biz claims to offer between 5.2% and 6% daily returns. All of these investment plans run for 25 days, resulting in significant profits. To make the offer even better, users will earn up to 12% referral commission for every new user who deposits funds through their link. All in all, pretty standard scam tactics, and a site Ethereum users need to avoid at all costs.
Image 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.
The BNB Chain ecosystem is seeing a very good rebound. After a brief period of…
One of the leading blockchain platforms, Solana, had a week of incidents that were both…
In the fast-changing sphere of decentralized finance (DeFi), yield-bearing stablecoins are one of the most…
In a remarkable series of occurrences, the price of the crypto coin $Mubarak has shot…
In spite of SHELL market maker's aggressive repurchase initiatives, the token's price remains stuck at…
PaalMind, the inventive AI-powered ecosystem, has taken a significant step toward reaching its presence across…
