Welcome to my blog Anatomy of an Internet Scam
Let’s be honest here. How many of us want to make tons of money with putting any work into it. You should all be raising you hand!
The latest in the craze of internet scams is cryptocurrency Multilevel Marketing.
It goes something like this. 2% to 4% daily Return on Investment if you just give us your money and we will pay you in some type of worthless crypto currency. We will pump up the hype and information for weeks or months and dump our worthless crypto on you. By the way just so you know, we call this an exit scam.
Signs of a scam
1 They promise a high daily percentage return.
2 They are very vague about who the owners are.
3 They are heavy on recruitment and light on retail sales.
4 They use pictures of actors rather than their own.
5 They use very detailed payout schemes that look legit.
6 They usually come from the Asian Geography like Russia, Hong Kong, and other parts east.
7 They are unregulated by government authority.
They are eager to part you from your hard earned money. Remember it is always easy to put money in, but quite difficult to get it out. Because they are heavy on recruitment, they are probably using new investors money to pay off old investors.
This procedure is the very definition of a Ponzi Scheme.
Here is the SEC’s definition of a Ponzi Scheme.
Definition of a Ponzi Scheme an Example from Markets Insider
“The Securities and Exchange Commission announced it shut down the operations of a mother-son duo that defrauded investors through a cryptocurrency Ponzi scheme that promised up to 30% returns based on the trading recommendations of an artificial intelligence “supercomputer.”
Since May 2018, Joy Kovar, 86, and her son Brent Kovar, 54, raised more than $12 million from at least 277 retail investors through their Las Vegas-based firm, Profit Connect Wealth Services.
The SEC has filed an emergency action and obtained a temporary restraining order and asset freeze to halt the ongoing fraud.
The duo, according to the agency, convinced investors their money would be invested in securities and cryptocurrencies based on recommendations made by an alleged AI supercomputer. This machine, the duo said, consistently generates enormous returns of up to 30% per year with monthly compounding interest.”
Can you see most of the elements here?
My #1 Recommendation
Now, that you landed on this blog, you want to actually know how to make money online right?
When it comes to crypto, one thing you need is CAPITAL. So you can invest in more cryptocurrency and getting another job isn’t the best way to do that…
If you want to learn how you can increase your cash flow without trading your time for money…
Once you learn this skill set and the mindset, the sky is the limit when it comes to cash flow.
Therefore, you can invest in appreciating assets and build long term wealth.
Remember to follow me on social media below because I am actually real and want to serve you.
I hope you enjoyed my Scam Review – The anatomy of an internet scam and if you have any questions feel free to ask in the comments below…
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See you at the top,
-Scott Rulon
P.S. Want to succeed in business? Then click here and check this out to take your game to the next level.