Categories: CryptoNews

The Latest Ethereum Ponzi Scheme is Called ETHTrade

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.

Related Post

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.

Images credit 1,2

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.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

10 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

10 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

11 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

11 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

15 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

15 hours ago