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Author Topic: [SCAM] UCACOIN-Latest project of known MLM scheme "Verway"  (Read 152 times)
Rikafip (OP)
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October 03, 2020, 03:47:23 PM
Merited by nutildah (1)
 #1

What happened: While doing some background checking after adding Ucacoin to the list of AN threads that hired bumping service I found out that there is a bit more going on. As a matter of fact, it is the latest addition to Verway MLM scheme  that is going on since 2017. As previously mentioned, Verway is a MLM company that typically for similar MLM schemes sells beauty/health products (magic creams that remove wrinkles in a couple of minutes etc) but as in all similar schemes, 99% of the people loose money while those few at the top benefit. Add on that fact that Ucacoin hired bumping service that promoted numerous scams before them, and you get the enough reason to open this thread and warn the others.

Flag Type 1 https://bitcointalk.org/index.php?action=trust;flag=2366

For those who want to know more about Verway and way they operate, I suggest checking this overview
https://youraffiliatesalary.com/is-verway-a-scam

Ann https://bitcointalk.org/index.php?topic=5207542
Archive https://web.archive.org/save/https://bitcointalk.org/index.php?topic=5207542.240

Website https://ucacoin.com/
Archive https://web.archive.org/web/20200602224709/https://ucacoin.com/

Whitepaper https://ucacoin.com/Whitepaper/UCA_English.pdf

Verway website https://verway.com/

Quote
Domain Name: ucacoin.com
Registry Domain ID: 2421160062_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: http://www.godaddy.com
Updated Date: 2020-08-09T14:12:50Z
Creation Date: 2019-08-08T14:35:01Z


As in all MLM schemes, it's all about getting as many people as possible into this, and that way generate the revenue, as seen in this nice little pyramid from Ucacoin website





Regarding their coin, UCA,  it is just another heavily centralized POS quasi cryptocurrency. What's interesting  is the fact despite already being listed on several exchanges (DigiFinex, Cointiger, Crex24 among others) they also sell cards, which when you turn into UCA Coins, that you can later use for staking. Naturally, UCA is down 95% from their ICO.




As mentioned before, Ucacoin hired "marketing agency" to promote thier ANN and fake the interest, as discovered by @nutildah


This farm is back, now spamming for a project called UCACOIN. I'm gonna go ahead and tag all of them. One tag wasn't enough to stop them but maybe 2 will be, who knows.

Here's a few recent additions to this particular farm, some of which have also commented in the IndexChain thread:

Like the other merited accounts in this farm, most merit for this farm was obtained from Basorexia.

And this is how it looks like on their thread. Part of the spam has been deleted, while rest will deleted soon.





Person behind both Ucacoin and Verway is Ilhan Dogan, who has long history of involvement in MLM schemes. Before starting his own MLM, he was part of LR Health and Beauty Systems and one of their top sellers. But I guess that wasn't enough so he decided to start his own scheme, again selling similar stuff.





tl;dr
"Cryptocurrency" used for MLM scheme that hired shill accounts for promotion. Avoid at all cost.

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October 03, 2020, 04:13:30 PM
Last edit: October 03, 2020, 04:26:09 PM by dkbit98
 #2

Flag supported.
I would stay away from any snake oil and mlm stuff they are selling, and their owner Ilhan Dogan is one more from long lines of scammers, as they say on their website he is one of the Greatest Turkish ... scammers, I would add.
Quote
VERWAY’s organic aloe vera products will be sold in European countries, Turkey and Russia too, with the MLM Network Marketing System.
We wish success to the Greatest Turkish …

Good luck Mr. İlhan Doğan!
https://www.verway.news/news/who-is-ilhan-dogan-2/

One video where he speaks in english...lot of times spent in courts:
https://www.youtube.com/watch?v=3VQWO5Jht-8

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Rikafip (OP)
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October 05, 2020, 08:18:12 AM
 #3

Quote
VERWAY’s organic aloe vera products will be sold in European countries, Turkey and Russia too, with the MLM Network Marketing System.
We wish success to the Greatest Turkish …

Good luck Mr. İlhan Doğan!
It would be a shame to skip rest of Ilhan Dogan praise. I had no idea that there was war in Germany sometime between  1970s and now.

Quote
İlhan Dogan was born in Germany in 1970. It is a child of a family origin Gaziantep .
His childhood and his youth passed with big family problems, and his soul was deeply hurt, but he was one of the few people who managed to get rid of the difficult war.

İlhan Doğan; with his strong personality and his brilliant intelligence, stepped up the stages of success and eventually became one of the best networkers in the world.

He was a rich , young, handsome and sporty. All the manquins , top models, were around him.
But he was an intelligent man. He had his principles. He was disciplined. He respected his work.
https://www.verway.news/news/who-is-ilhan-dogan-2/

Since all cults (and MLM companies often function as a cult) need strong leader, it's no surprise that Ilhan Dohan has been described this way, giving him almost divine atributes.

Regarding cult-like nature of MLM, they both employ similar tactic when recruiting new members, and when trying to keep them in the scheme:
  • You are not supposed to question those above you in hierarchy, especially not the leader
  • They usually  target vulnerable people, in this case those with financial problems.
  • While religious cults promise you afterlife or whatnot, MLM promise you wealth in an easy way

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