Scam Crypto wallet, Scam Token Alert

[dasunlanka]

Guys, Please beware about Cloud Token wallet. Most probably to be a scam wallet and Scam Token Like Bitconnect. same theory Using here. They guarantee to pay 10% of your HOLDING funds by CTO(cloud token). Normally we need to focus on the security seriously before choosing a wallet to store your funds. this company says they touch your funds and trade in the exchanges and give you a profit percentage. as we know trading is not always profitable and can't guarantee a proper profit.



what are the risks

01 They touch your funds and trade so your funds are not your own control
02 you have no private keys so you can't get your funds if something happens to the cloud token wallet app(passphrases are useless without working app)
03 you will receive CTO tokens and price of this Tokens increasing continually without any trading platform. everyone knows the price of any token/coin depend on buying pressure and selling pressure. without that price cannot be increased. most probably company controls the price of this CTO tokens.
04 at anytime company can get your funds and give you CTO tokens as bitconnect did. then all people have useless CTO token and no one will buy it

so Please beware about these kinds of scams and secure your fund with a proper wallet. always try to store them in offline hardware wallet.
Thanks

[DdmrDdmr]

<…>

Actually, according to their website (Getting Started section), they advertise a 6% to 12% monthly earning for using their wallet to keep your crypto. So that’s a whooping 72% to 144% per year. Great, retirement on the horizon! … or is it another bunch of years of work to make-up for the losses once they decide to pack it all up and be off with all the wallet allocated crypto …

You need to upload a minumum of 500$ worth of crypto to start earning the astronomical figures, where the income you get is based on recruitment. Rings a bell?
    
I’ve found three or four articles clamming it’s a scam, taking a look at the token, team, promoters and so on. Honestly, just looking at the proposal in terms of ROI is so absurd that there is no real need to dig any further ...

[r1s2g3]

<…>

Actually, according to their website (Getting Started section), they advertise a 6% to 12% monthly earning for using their wallet to keep your crypto. So that’s a whooping 72% to 144% per year. Great, retirement on the horizon! … or is it another bunch of years of work to make-up for the losses once they decide to pack it all up and be off with all the wallet allocated crypto …

You need to upload a minumum of 500$ worth of crypto to start earning the astronomical figures, where the income you get is based on recruitment. Rings a bell?
    
I’ve found three or four articles clamming it’s a scam, taking a look at the token, team, promoters and so on. Honestly, just looking at the proposal in terms of ROI is so absurd that there is no real need to dig any further ...

No idea, how many fell for it and put their retirement fund in these kind of scheme. I generally used to think people are smart enough and do not invest in these schemes until one day I met with a guy that invested .5 BTC in such kind of schemes.

[nakamura12]

This is why I don't want to download any wallets from playstore. I'm making myself to think negative thoughts when it's about google playstore. It's not just fake wallet that you can download there but also apps that said it will help you with a game you're playing but it's fake and that's when I start not to trust any wallets in that you can download from there especially if that wallet is not known.

[Bitcoin_Arena]

No idea, how many fell for it and put their retirement fund in these kind of scheme. I generally used to think people are smart enough and do not invest in these schemes until one day I met with a guy that invested .5 BTC in such kind of schemes.

People are very gullible and too much greed even makes them more stupid. Imagine this fake wallet already has 10K+ downloads on playstore.
If you look at the reviews, most are posted on particular days and are 5 star fake reviews... the genuine ones are mostly random and 1 star

[feryjhie]

This is why I don't want to download any wallets from playstore. I'm making myself to think negative thoughts when it's about google playstore. It's not just fake wallet that you can download there but also apps that said it will help you with a game you're playing but it's fake and that's when I start not to trust any wallets in that you can download from there especially if that wallet is not known.

i think download wallets from playstore is no problem as long the wallets you download from the official.
So i think it will be good if you visit the official website and click the link that will redirect you to playstore for the official wallet they had

[Bitcoin_Arena]

This is why I don't want to download any wallets from playstore. I'm making myself to think negative thoughts when it's about google playstore. It's not just fake wallet that you can download there but also apps that said it will help you with a game you're playing but it's fake and that's when I start not to trust any wallets in that you can download from there especially if that wallet is not known.

i think download wallets from playstore is no problem as long the wallets you download from the official.
So i think it will be good if you visit the official website and click the link that will redirect you to playstore for the official wallet they had

Whether downloading from playstore or not... I think the most important thing to first have in mind is to find out if the so called project is genuine or just scam. They could be fraudulent and still have "Official websites" or Playstore apps  Just like the above fake crypto wallet project OP just mentioned.

[dasunlanka]

I generally used to think people are smart enough and do not invest in these schemes until one day I met with a guy that invested .5 BTC in such kind of schemes.

Me too, eventually  but I realized most of crypto newbies are falling in to these kind of traps easily. Due to lack of crypto knowledge and how blockchain works

[dasunlanka]

People are very gullible and too much greed even makes them more stupid. Imagine this fake wallet already has 10K+ downloads on playstore.
If you look at the reviews, most are posted on particular days and are 5 star fake reviews... the genuine ones are mostly random and 1 star

Most people think these kind of craps gonna be thier life changing point. That is why they posting 5* reviews, admins and creaters know this is a trap. But they earn money from it

[Opening]

In the past two months, the rise of many major currencies, especially Bitcoin, has caused many exchanges and multi-level frauds to be "dead" before reviving again.
"Bitconnect is back" or "Bitconnect 2.0 countdown", "Bitconnect 2.0 will be back in 4x days".

Similarly, Hextracoin and Ucoin Cash also come back and return with the same announcement as "Hextracoin 2.0 will be back soon" and "Ucoin Cash 2.0 will be back soon" with 4x days of countdown time and 3x days ...

Whenever Bitcoin's price is high, this is an opportunity for multi-level profiteers with many forms like Hextra coin, lending, HYIP ... to come back.

Each investor should be on his own to avoid being trapped.

[hugeblack]

"Not your code, Not your Coins"
Do not think in any way to download a closed source wallet unless you trust the developers.
Warning: Do not download this wallet, this wallet provides an IOS app  without loading it to play store, also one user Google told:

i tried to update my current app, but after that i cant login to my account and lost everything!

It looks like viruses are stealing your data or coins + SCAM promises.

[onecall123]

I trust there nobody investing in Ponzi schemes like a Cloud Token wallet. whenever bitcoin and other major crypto currencies race on moving up some people advertising crypto related investments those are basically SCAMS. Don't put your money, such wallet can't be trusted. Get a hardware wallet like Ledger.

[dasunlanka]

I trust there nobody investing in Ponzi schemes like a Cloud Token wallet.

It is funny and shame investing places such like cloud token. But please join this group https://www.facebook.com/groups/cloudtokenpowerteam/you can't believe about these kind of people. Everyday they are dreaming. talking about price movement of CTO and they believe it will go above $100. (Very funny ). 90% people don't know what is crypto and what is blockchain.very sad, Poor people...

[DdmrDdmr]

Out of curiosity, I rechecked their website today, and it seems to have been changed: Four days ago, the "Getting Started" section versed about the monthly earnings you could make and the initial investment. Today, I cannot find that information on the site, nor the initial 500$ investment they required. The versing on the site is more technical, and completely hides the monetary side that was publicized before.

Have they read this thread and hidden what lead to obvious red alerts on what seems a clear Ponzi scheme?

[dasunlanka]

Have they read this thread and hidden what lead to obvious red alerts on what seems a clear Ponzi scheme?

Maybe. and day by day they are getting smarter. I Think they already received many funds from the beginners. So they will build a new and attractive website soon
 

[Indamuck]

<…>

Actually, according to their website (Getting Started section), they advertise a 6% to 12% monthly earning for using their wallet to keep your crypto. So that’s a whooping 72% to 144% per year. Great, retirement on the horizon! … or is it another bunch of years of work to make-up for the losses once they decide to pack it all up and be off with all the wallet allocated crypto …

You need to upload a minumum of 500$ worth of crypto to start earning the astronomical figures, where the income you get is based on recruitment. Rings a bell?
    
I’ve found three or four articles clamming it’s a scam, taking a look at the token, team, promoters and so on. Honestly, just looking at the proposal in terms of ROI is so absurd that there is no real need to dig any further ...

No idea, how many fell for it and put their retirement fund in these kind of scheme. I generally used to think people are smart enough and do not invest in these schemes until one day I met with a guy that invested .5 BTC in such kind of schemes.

Bernie Madoff ws able to scam billions of dollars from very wealthy people.  Sometimes all it takes is a smooth talker for someone to be fooled.  I never like to see the victim blamed, not everyone is on the same level.