Bitcoin Forum

My attention has been drawn to a certain ponzi scheme on the trust app dapp, they call it million money and the scheme uses etherum for its ponzi activity.

Please do not be deceived, investment in million money ponzi scheme is not the same as investing in crypto currency.
The perpetrators are saying invest in etherum through million money but it js wrong, it is phishing and the wrong way of investment.

The ponzi targets newbie who has no idea how crypto works, then employs crypto experts yo spread liea about how it leads to etherum investment.

Please let's stay clear of million money

That's really wrong if they have to point other way around instead of investing directly to Ethereum. I don't know about that million money if you have found it to be a scam, you can go to the Scam Accusations and post it there so that many will be aware of the scheme.
Their target victims might be the newbies that are greedy. That's not how to earn in crypto and they're misleading and giving false hope to the investors whom they catch.

There should be newbie that will fall to this kind of scheme even if it is very old for all of us who have been in crypto for several years knowing that there are many newbies who are very greedy and they like to take a shortcut just to earn a profit. That is the common reason why there are still newbies that will surely fall to this trick especially if they have no strong background yet about how crypto works.

If we can just easily block all the ponzi schemes then there should be no victim at all but the internet didn't allow it yet and most of the governments are not that worried about it as they have plenty of things to focus on. If you dream to have millions of money, other are using their effort to learn how the crypto works so they can spend wisely their investment money and others are rendering their service especially if they have skills that is very useful like marketing and etc.

If it was listed on trust app dapps then probably they added a non trusted dapp. If their management knows of the issue they will take action about this cause Trust app is in partnership with Binance or probably owned and they dont want their good reputation to be hit by something they thought its legit.

Can you share more info regarding this ponzi scheme million money dapp? I never heard anything about it. Sorry not really have a trust wallet so I maybe dont know about it. Wish you could share more related to it. If this is true then someone should alert them about this.

I don't know anything about this project but whatever the hell a project is trying to tender to investor I suggest people and newbies should do good research, when things sounds or feels too good to be true it's probably is

Thanks for this friend.  Just last week I was sent an invite link to their WhatsApp. When I joined I was asked to fund my trust wallet app with 0.03eth or I should send the fiat currency.  Immediately I started thinking on how this is going to work because I was motivated by the group admin that in the next two to three months I can make around 77eth.  Though, I'm not an expert in Cryptos but I know this is a pure scam. They just want to rub Peter to pay Paul.  I left the group, then following morning somebody that was invited too was now telling me those behind it and their mission.  Please newbies be careful never fall for this.

Thank you for giving me important information, now there are a lot of Dapp projects with the Ponzi scheme,
 but it's better to follow the staking program than to have to follow the Ponzi scheme, so right?  ;D

You should have named it or better send the link or screenshot, people here are tired of investing in Ponzi Scheme, and people here do not allow the Ponzi scheme to be posted, these Ponzi operators are operating somewhere so by posting it here we are aware of these Ponzi schemes.

Yes you are right, it is better to stake on legit exchange platforms with safu funds, than to participate in ponzis.
One thing about ponzis is that it is bound to fail in the end, either it survives weeks, months or a year; the system is bound to fail.

Million money is another dapp disguised as an investment pattern; luring newbies in with 0.03eth as registration and thereby tarnishing the reputation of crypto currency to newbies; and remember newbies are potential investors; we must keep telling the difference between a ponzi and true staking by speaking out against the ponzis.

Avoid million money platform that uses trust wallet for its ponzis; it is a ponzi and not crypto currency investment.

The funny thing is that ethereum is rising around this time and alot of people will be fooled into believing that their invesment is what is causing the increment. Well everyone's eye will be cleared when dip comes.

That's so true you know, I once visited their telegram group when i saw all this hype going on  and just at the glance you can know that this project is just a ponzi scam deployed to steal the funds of its culprits. i tried to blow an alarm in there but I was quickly removed from the group by administrators. So yeah, let's all stay away from this project.

Ponzi schemes in dapps are common and not prohibited, I think beginners should try Ponzi schemes to be a learning for them in the future, this scheme is indeed bad, but it is not forbidden, you can find schemes like this on the dapp.com website.

"High risk High return"

Those dapps ponzi schemes are really trying their best to scam investors, eventually there are so many Dapps out there that doing this. I wonder, maybe they will gonna pay their members first to gain trust from them and then left them hanged after.
 
 They actually breaking out the ethereum's reputation as they use eth's name to collect funds or money. In line with this, I have seen one ethereum dapps from last year which eventually collapse after collecting huge money.

Ponzi scheme are good at creating a name for their project that attract people, like the one you mentioned which is million money, I even read one Ponzi scheme Million maker, people should know how to differentiate a Ponzi scheme to Cryptocurrency, these operators have exploited the Cryptocurrency to create Ponzi scheme.

There are a ton of scams outside, a thing is not a ponzi or a scam to me until it becomes so huge that there is no way they could sustain it to be that big without being a problem. If they are a scam they will eventually break and can't continue. Just to give an example lets think if binance was a scam, do you really think they could get as high as they are right now?

There is no way they could go this high, they would bankrupt. So, I wait for something to become super high first and see if they can sustain it and if they can actually continue for a long time before I decide if they are ponzi/scam and I go in only after that actually. That is why I really do not get scammed neither, if it is scam then people get scammed before I get in, if it is not I am just too late to go in and that's it.

I think you evaluated a bit fairer, people should be able to differentiate when they are into ponzis and when it is true investment, but newbies are easy to manipulate, and may not know which is which until it is late.

And its one reason we must continue to debunk all ponzis as it is

I think people that will fall for this type of investment are those who are yet to understand the clear difference between crypto investments and Ponzi schemes; both are entirely different and have no correlation. The only thing is, those creators of Ponzi schemes knows how crypto has grown over the years and also knows that more people are into it everyday thus using the opportunity to launch their platform and making it attractive for mostly newbies. Ponzi is Ponzi and should be avoided, many Ponzi schemes which used the crypto space as a cover made people to lose money and are no where to be found today, thus this particular one won't be an exemption. I wish people will be more informed about Ponzi hence making the right decisions.

Well this is nothing new. Ponzi scheme know quite well no one sane enough to invest directly in them so they have to be creative to make layers of legitimate or popular platform to lure people in. No matter what claim they are telling you, ponzi = scam and you should stay away.

Usually the Ponzi scheme will target new traders who don't have much experience so that when many new traders are deceived they will blame cryptocurrency even though the way they know cryptocurrency is wrong and incorrect because it was introduced directly in the Ponzi scheme.

I laughed hard when i saw million money referral links spamming a few crypto groups i belong to. People do not understand that these so called mlm investments online with faceless developers are ponzi. One day, they will surely bounce with investors' funds. There have been a few crypto investment platforms similar to this, looking so genuine but at the end, it will be glaring that it's scam. Even newbies who never knew about crypto started flooding their statuses with million money referral writeups. Ponzi everywhere, wise up!

Needless to say, they create a name that will capture the interest of people. Hence, if people aren't informed of how the scheme works, then it is possible for them to end up being victimized by it. By just looking at their official website, it says that they don't have a project administrator and that the project won't fail. It's like giving an empty promise, that's why we shouldn't just be convinced by its name. It is the obligation of the investor to make sure that the investment will be good and profitable.

Yes, I also have read that Trust wallet is officially recognized by Binance hence if we report then definitely Binance will take necessary action against any ponzi. I am also using Trust wallet but I didn't see anything in the name of Million money or similar. When we are having concrete proof then we can easily report it to Binance. But, simply only having doubts because of catchy name like million money will not help here.

Bitconnect was one of the proven ponzi I am able to remember right away after coming across this topic. There were my friends who tried to convince me to invest with bitconnect but I somehow managed to avoid investing with it. Over the time people had exposed its scam things but many people got trapped by its intelligent ponzi practices. Similarly we must warn this community about possible/potential scam by this project.

Yeah I see this as some kind of misinterpretation (or intentional confusion by author of ponzi scheme). I don't think that there is any connection between trust wallet and trust app.
So trust wallet is indeed recognized by binance, but I don't think it is applied to trust app.

I am not surprise some of the scams are popping up in the space now, as we enter into the new bull market there would be a lot of scam projects that will promise great ROI just note this if it is too good to be true, it is not true. You may be lucky to get them pay for a week but after that they would disappear

I think this type of ponzi is something new
Because their audience are lured in using etherum blockchain which is not leaving crypto currency in the spotlight.

The only etherum investment is when you buy and keep your tokens in your cold storage or paper wallet

The name can really hook newbies to be millionaire with this platform lol. So it is mlm investment most of this kind of investment were turned to scam, for sure those newbies willl cry in the end. ;D

They will use the old methods to trick people but with the new form to attract people, especially for new people who don't have more information about investing. That will be a good target to them as they will get trick by making money fast offers.

Besides ethereum investment, you have bitcoin investment by holding your bitcoin tight and don't sell your bitcoin if the price does not increase so high. If you can do that, you will make a lot of money from the investment, but yes, we need to be patient and wait for a long time before the price increases.

Scammers will always targets newbies. They have zero experience and huge willingness for easy money. We should educate newbies, fight with ponzi and be ready to asks to stupid questions. And even after this there still will be ponzis

Don't invest in a project that promised a certain amount of return to your investment, if it has no platform, the admin looks fake even if they are using an ethereum token do not invest and especially if the project uses a deceitful name for its project, at a first sign of  a ponzi scheme stay away immediately.

Its targeted on newbie who have no idea with their money which is in this pandemic. People who want to get more profit with instanly must thinking about the way of scamming. We better just hold eth or another coins in our personal wallet as an investment.

Although not new to you doesn't mean others will understand their tactics during this time of the pandemic. Many newbies are looking for opportunity for them to get high rewards without having the platform to invest. Even at that, some long time investors also fell for this ponzi scheme because these guys always come with different style of making anyone believe in their schemes. CCC was created recently and their actions was different from the normal ponzi schemes and many fell for their tactics, so, it can happen to anyone who is greedy.

No matter how loud our voices are, if these newbies won't listen they won't but still it is kinda ironic that they complain of getting scammed. People should stop believing in those doublers, like people shouldn't expect their money to be doubled for like a day. Think about it, if those things are real, why are there still "barely" rich holders, right now?

I think you are also right, people are adamant to do what their mind is set to do.
But we should because of that relent in spewing the truth always, lets continue to guide the newbies that chooses to learn.

Who the fuck is this scammer anyhow? That million money group is full of stupid sheeple getting fleeced...

https://www.facebook.com/oke.b.moses

He seems to be leading the million money charge deceiving people around, and i only blame the gullible followers who have google at their feet but only succumb to some huge roi posts on fb.

Million money is a ponzi, and it is never a way to invest in etherum, never.
Don't be deceived for any reason.