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Author Topic: MorCrypto Exchange (ICO) with ponzi scheme.  (Read 341 times)
Coolcryptovator
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September 18, 2019, 11:21:53 AM
Last edit: September 18, 2019, 11:34:34 AM by Coolcryptovator
Merited by bones261 (2), witcher_sense (1), dkbit98 (1), JeromeTash (1), lovesmayfamilis (1), TalkStar (1)
 #1

Website: https://morcrypto.net/#ico
Archived: http://archive.is/CDoTm
ANN Thread: https://bitcointalk.org/index.php?topic=5185523.msg52484428#msg52484428
Archived: http://archive.is/Kxt6V

What happened: Ponzi scheme.






Seems MorCrypto going to launch crypto exchange with lending and freelancer platform. But they are going to return 5% monthly, and I don't think it's very small amount. I have not noticed even any bank offering 5% monthly.

Additionally seems few spammer trying go bump thread by fake conversation with newbie account.(I have reported them).

Red flag: https://bitcointalk.org/index.php?action=trust;flag=749



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September 18, 2019, 11:37:30 AM
 #2

First, I was thinking you are too strict. 5% monthly is a high return profit, but not is obvious Ponzi like 5% daily. Now I check his ANN thread, there is a lot of bots Newbie "good project" post.
Reported them all, and I'm going to support your flag.

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September 18, 2019, 12:38:08 PM
 #3

First, I was thinking you are too strict. 5% monthly is a high return profit, but not is obvious Ponzi like 5% daily.
~

A promise of any specific interest always looks suspicious. If they have an honest business, they cannot know how it will go in the short term; moreover, they cannot know whether the business will be profitable or unprofitable after year or month. You should not even count on any particular return on investment.

5% per year, not per month - I’m ready to believe that if the project goes well, but it will not be a guaranteed income.

 
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September 18, 2019, 03:15:07 PM
Last edit: September 18, 2019, 04:55:17 PM by dkbit98
 #4

How Metamask blocked them?

I tried to get Invest-Limited Ponzi blacklisted but they still don't accept it:
Just look at this ridicilous fake plans with 8% or even 16% daily:
https://bitcointalk.org/index.php?topic=5177587

https://github.com/MetaMask/eth-phishing-detect/issues/3259

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September 19, 2019, 04:28:14 AM
Merited by Coolcryptovator (1)
 #5

Ponzi scheme or not, they are definitely super fishy.

Two of their team members (which, strangely, all of them lacked names) are proven to be fake (the co-founder and project advisor). Their pictures are simply taken online.

And according to a WhoIs check, the domain is only registered for one exact year - this is super common amongst Ponzi schemes, scam websites, HYIPs, etc.

Throw in a minimum 5% monthly ROI and that's just way too many red flags for this project to be legit.

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September 19, 2019, 05:06:08 AM
 #6

Two of their team members (which, strangely, all of them lacked names) are proven to be fake (the co-founder and project advisor). Their pictures are simply taken online.
I am also suspecting they have used fake photos from internet. But I had not look into it deeply since they are going to launch ponzi scheme. On the other hand they are launching their ICO with multiple attractive concept which is more suspicious to me. If someone promise so many products and high return basically they just want to attract investors. They really have nothing, and most likely they would skip with fund. Their monthly return is one of reason why they might scam, and I am suspecting they would not able to raise funds.

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September 19, 2019, 05:15:46 AM
 #7

5% per year, not per month - I’m ready to believe that if the project goes well, but it will not be a guaranteed income.
Yep,,,Its the main fact. It doesn't matter they are offering higher or lower amount of profit for their investors but when they put it on fix percentage then its unacceptable. Obviously we have got enough experience from our past that those ponzi projects are the the clear trap for investors. They are well known for giving unlimited profit but finally investors gonna lose all their fund.

In present crypto investors are mature enough IMO. I think they are not going to run after those garbage where chances of getting scammed is higher than any kinda investment. 

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September 19, 2019, 06:25:14 AM
 #8

Yeah, pretty obvious, anything with such interest rates, no real backers or a product/explanation for their high profits is a scam or Ponzi scheme. Glad to see people are getting a lot faster with these things, and due to the ICO boom, 5% profit a month wasn't looked like a lot of profit,was probably actually on the lower side of things.

First, I was thinking you are too strict. 5% monthly is a high return profit, but not is obvious Ponzi like 5% daily. Now I check his ANN thread, there is a lot of bots Newbie "good project" post.
Reported them all, and I'm going to support your flag.
Even though crypto and fiat are very different industries, a lot of companies have the same mindset. When a company is offering "risk-free" interest and repayments, compare it to it's real-life twin, bank interest rates. Banks will never offer over 3% interest a year, and comparing that to 60% a year, it's pretty obvious that there is something dodgy going on, no matter how much more profitable and fast-paced crypto may be.

Ponzi scheme or not, they are definitely super fishy.

Two of their team members (which, strangely, all of them lacked names) are proven to be fake (the co-founder and project advisor). Their pictures are simply taken online.

And according to a WhoIs check, the domain is only registered for one exact year - this is super common amongst Ponzi schemes, scam websites, HYIPs, etc.

Throw in a minimum 5% monthly ROI and that's just way too many red flags for this project to be legit.


Well said, my point exactly.

How Metamask blocked them?

I tried to get Invest-Limited Ponzi blacklisted but they still don't accept it:
Just look at this ridicilous fake plans with 8% or even 16% daily:
https://bitcointalk.org/index.php?topic=5177587

https://github.com/MetaMask/eth-phishing-detect/issues/3259
Meta-mask often blocks services from using their service if they find out that they are a scam. That's probably why you can no longer invest using metamask for this project, it's pretty fast work from their side.


 
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September 19, 2019, 09:13:16 AM
 #9

Meta-mask often blocks services from using their service if they find out that they are a scam. That's probably why you can no longer invest using metamask for this project, it's pretty fast work from their side.



You should read what I wrote.
I DON'T want to invest in this SCAM Invest-Limited PONZI,
I want Metamask to Blacklist them!

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September 22, 2019, 10:24:51 AM
 #10

Please do a proper research before posting anything here, We are a Legit Team and we are not hiding like other project owners, the issue on Metamax was wrong,
we were wrongly flagged at Metamax and we have contacted Matamax earlier before now, Metamax also acknowledged that it was an error, see for your selfs here ( https://github.com/MetaMask/eth-phishing-detect/issues/3314 ),

The Github representative for Metamax has already added our Url for white listing (see for you selfs here ( https://github.com/MetaMask/eth-phishing-detect/issues?q=is%3Aissue+is%3Aopen+label%3A%22whitelist+request%22 )

 so we are not scam, we understand that a lot of you were scammed before by other companies but we are not one of them, please make proper research before you comment here!

if you want to use our website for now, just turn off your Metamax extension before lunching our website.

We are MorCrypto and we are legit.

If you wish to speak to the CEO's please request and we will talk to you in video call or voice call as you wish, just to show we are Legit
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September 22, 2019, 10:56:14 AM
 #11

Thanks for your comments,
we are not promising many products which are not ready to launch, our products are ready waiting for timeline to elapse then we launch.
It is very simple equation of investing in a large cooperation and earning dividends from their numerous investments ? We're not promising what is not already obtainable, Trust this, other projects can do the same. It's either greed and status quo, or they are scared to sound as though they're trying to do the impossible.
All our team members are credible crypto enthusiasts, long time traders and web developers. You may not know them but you know numerous projects they have worked with if mentioned,
Our website is young because the project is obviously young. You don't expect a project that's just kicking off to have an old website do you? No!

You can join our Telegram group to chat any of our Co founders, they are handling Community management for now.
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September 22, 2019, 11:00:51 AM
 #12

Reporting us when you have not communicated with us directly to find out if we are real or not is WRONG, it means you don't do proper check before posting on bitcointalk. Our lines are open Ask any question
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September 22, 2019, 09:07:34 PM
 #13

COMMUNITY UPDATE!
It's rather exciting to see credible members of the bitcointalk forum scrutinize, analyze and try to make sure that the community is protected from scam. Great work!

First question is, do you really think a project cannot payout 5% from multiple investment dividends? How come the banks keep buying up properties and their CEOs live large while savings accounts receive peanuts as interest?

In fact, they can pay even more if they are not trying to maintain a status quo, create a balance between industries and feed the greedy. MorCrypto has a very simple secret; invest in the best & share net profit of total investments.

What are our investments? We are launching an e-conmerce platform, a crypto trading exchange, a mining farm and a professional sport gaming app. All these will constitute to supplying funds for our 5% remittance, and this is excluding our ecosystem reserve for eventualities.

It is worthy to note that as a prepared team that has been around the cryptosphere for a while, our product prototypes are already in place and ready for roadmap timeline to elapse for launch. Guess what? We are not just paying out 5%, we are paying out in BTC!

These are some of the contents we shared with top ICO websites like foundico, trackico and coincodex to be eligible for listing. Sincerely, we can understand everyone's plight in accepting a project too good to be true due to the nature of our terrain. But we truly hope everyone can give us a benefit of the doubt, let's try something new!
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September 22, 2019, 10:03:06 PM
Last edit: September 22, 2019, 10:15:14 PM by dkbit98
 #14


First question is, do you really think a project cannot payout 5% from multiple investment dividends?

No.

We are launching an e-conmerce platform

Can wait to see this 1st e-conmerce platform...


PS
I am always ready to change my mind if you provide more team information and details about your project.


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September 23, 2019, 04:20:29 AM
 #15

Please do a proper research before posting anything here, We are a Legit Team and we are not hiding like other project owners, the issue on Metamax was wrong,
we were wrongly flagged at Metamax and we have contacted Matamax earlier before now, Metamax also acknowledged that it was an error, see for your selfs here ( https://github.com/MetaMask/eth-phishing-detect/issues/3314 ),

The Github representative for Metamax has already added our Url for white listing (see for you selfs here ( https://github.com/MetaMask/eth-phishing-detect/issues?q=is%3Aissue+is%3Aopen+label%3A%22whitelist+request%22 )

 so we are not scam, we understand that a lot of you were scammed before by other companies but we are not one of them, please make proper research before you comment here!

if you want to use our website for now, just turn off your Metamax extension before lunching our website.

We are MorCrypto and we are legit.

If you wish to speak to the CEO's please request and we will talk to you in video call or voice call as you wish, just to show we are Legit

How would you explain having a fake picture for half of your team on the website then?
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September 23, 2019, 10:44:26 AM
 #16

@EliseWatoson(Newbie) please which of the team member's picture are you referring to? How did you come to your conclusion? Have you been to our telegram group? Have you contacted any of our team members managing our social channels? Please do a proper research

It's very simple to know if the pictures are Legit or not, just contact every one of them on social media,
I guess that would be enough for you.

Thanks
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September 23, 2019, 10:55:36 AM
 #17

Thanks for your comment @dkbit98, Please ask your questions more directly;
1) What are the actual details you want to know of our team members? say it and we will provide it immediately, even if it means having a one on one discuss with you on video call.

2) We are gradually uploading our products demo sequentially for public view waiting for roadmap timeline to elapse. Everything is all set, plans and strategies are tight, external investment plans have been concluded on. Most of our products could be launched before time depending business climate.
 
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September 23, 2019, 11:21:56 AM
 #18

@MorCrypto, don't post in a row, it's against forum rules and you might get ban.

First thing is, I haven't marked your project as a scam. I have marked as a "Ponzi Scheme" which is quite reasonable to me. Main fact that, I am suspecting you would rotate money between investors and eventually run out like other projects. That's why as a warning for newbie I have tagged you.

Whatever you have described about income sources nothing is exist. Everything will be implemented after fund raise. So concentrate your projects instead of bumping this thread. Remove ponzi scheme from your concept if you like to resolve this issue. Otherwise I am not going to change my mind and this thread will remain up to end......

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September 23, 2019, 11:33:31 AM
 #19

@MorCrypto, don't post in a row, it's against forum rules and you might get ban.


Also, they can stop with bump his ANN thread using bot accounts.
If someone tries to attract people using bot "nice project" comments, It's not realistic to expect regular service from there.

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September 23, 2019, 11:49:52 AM
 #20

MorCrypto Lending System is NOT A PONZI SCHEME
A ponzi scheme is a peer to peer system where the reward of a user is dependent on new entrants into the system. Why does a ponzi scheme crash? When there are more users depending on new entrants and there are few people buying into the idea, the system can no more payout rewards, thereby forcing the organizers to fold up.

The MorCrypto Lending is millions of miles apart from a ponzi scheme, actually not related in any way.
 
Here is a detailed explanation on how we intend to control our lending system;
A percentage of the net profit generated by the company is allocated to fund the lending system. Which means it can only accommodate a certain number of lenders per time, the system closes up after the threshold has been reached and opens up after the end of every lending period.

This means we will have more people HODLing and waiting to lend MOR coin to the system in order to receive 5% ROI in BTC while the system automatically returns their invested MOR coins to their wallets. This means ther will be less sellers and more buyers of MOR coins in the market, reducing supply and increasing demand; resulting to MOR coin price appreciation.

MorCrypto is a multifaceted investment company in diverse sectors including e-commerce, a trading exchange, a professional sports gaming app and a mining farm.

We are ready to give you #MOR
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