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.
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.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.
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