Unsurprisingly, EtherChain tries its best to hide the name of its founder. Many such Ponzi schemes do this to prevent legal issues. However, I consequently found out that Andreas Kartrud is running EtherChain.io from Skane, Sweden. The company outrightly lies about its origin as a well-established crypto trading and mining company.
In fact, EtherChain.io was recently created on 1st June 2020. With regards to the interface and structure of the web site itself, it's very poorly designed, to state the least. At the very start, the company describes itself whilst the world's first decentralized support fund, without giving any proof. Moreover, it's a typical page of Top 4 Sponsors, but once you enter it, it generally does not provide any further details. The company starts raising red flags from the very start of its inspection. Keep looking over this review to discover whether EtherChain is legit or perhaps a scam.
What is EtherChain?
EtherChain is definitely an Ethereum-based crypto company. It claims to be the planet number 1 decentralized Ethereum network. Furthermore, EtherChain.io states that it has Ethereum smart contracts in the network marketing area. The company states a great many other features as well, like a tamper-proof and non-corruptible network.
EtherChain.io promises an everyday 1% ROI of the investment for 310 days. It just means that the company promises a complete ROI of 310%. Moreover, it says that you will be able to track a myriad of transactions through the Etherscan feature of the company.
EtherChain's Products
EtherChain has no retailable products or services, with affiliates only able to market EtherChain affiliate membership itself.
EtherChain's Compensation Plan
Because the name suggests, EtherChain claims to be an Ethereum-based crypto trading platform. It asks the users to invest Ethereum in the company and get as much as 310% ROI. In line with the ROI plan of the company, the members are can get 1% daily for 310 days. As we realize that the owner behind this business is a serial scammer, so there's no guarantee that the company will pay even a single penny to the members. Moreover, it's highly unlikely that the company will survive for a lengthy time frame, therefore the users won't manage to recover their investments.
Joining EtherChain
EtherChain affiliate membership is free.
To take part in the attached income opportunity the very least 0.1 ETH investment is required.
Conclusion
Like many serial scammers before him, Andreas Kartrud has seen that running scams is more profitable than promoting them – even as a high promoter.
And so we have EtherChain , a barebones Ponzi scheme running on the ethereum blockchain.
That Kartrud is running his scam on “the blockchain” is neither here nor there. EtherChain is a Ponzi scheme and illegal the planet over https://scamrisk.com/etherchain/.
Just like all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This may starve EtherChain of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, many participants lose money.
Comments
Post a Comment