Ethereum Investment Schemes are again active in India

[pakhitheboss]

Yesterday I had gone out with a few of my friends and found this banner on a building at my location. I did some research today and found out that these guys are offering an Investment scheme in Ethereum through MLM.

They have exactly copied the logo and the name and are giving false hope to investors.  There are a few Investment schemes that are currently active in India related to cryptocurrencies like ETH, TRX, and BTC.

Please stay away from such a scheme and if you find any friend or family member introducing you or being part of such a scheme then please educate them.

[1715136296]

1715136296

[reliable]

Very much such schemes need to be avoided else it would not be sooner where this investor will realize that they have being scammed and this they have lost their money. Also, since you know this location so if possible, along with your friend just go and check out and try to understand the whole process of how much they are asking for investment, how many people have already joined and so on. This will just give us an idea of people ignorance.

[pawanjain]

Very much such schemes need to be avoided else it would not be sooner where this investor will realize that they have being scammed and this they have lost their money. Also, since you know this location so if possible, along with your friend just go and check out and try to understand the whole process of how much they are asking for investment, how many people have already joined and so on. This will just give us an idea of people ignorance.

Hello @ pakhitheboss
@reliable is pretty much right. Since this is happening in your locality, you should definitely go to that shop and try to enquire about what they are acutally doing.
If the process looks fishy then they are probably trying to scam people and we should make people aware by social media and other platforms.

Just go to that shop and ask what the whole process is. If it is an MLM scheme then what is their source of income if they are getting returns to their users, what's the guarantee of the returns.
Check if they are a registered company. Ask them since when they are doing this and the proof of their customers getting good returns and what/why does it have to do with Ethereum.

I would have done the same if it were happening at my place 

[avikz]

The problem in India is that, people are not much educated about cryptos. A lot of people have heard the name of few cryptocurrencies but don't know how to invest in that. These MLM companies are exactly exploiting this loophole! There are few other MLM companies who claims to have created new cryptocurrencies and selling those to the common mass.

But when 2 crore Indians have lost jobs, illegal activities are expected to rise!

[pakhitheboss]

Very much such schemes need to be avoided else it would not be sooner where this investor will realize that they have being scammed and this they have lost their money. Also, since you know this location so if possible, along with your friend just go and check out and try to understand the whole process of how much they are asking for investment, how many people have already joined and so on. This will just give us an idea of people ignorance.

Hello @ pakhitheboss
@reliable is pretty much right. Since this is happening in your locality, you should definitely go to that shop and try to enquire about what they are acutally doing.
If the process looks fishy then they are probably trying to scam people and we should make people aware by social media and other platforms.

Just go to that shop and ask what the whole process is. If it is an MLM scheme then what is their source of income if they are getting returns to their users, what's the guarantee of the returns.
Check if they are a registered company. Ask them since when they are doing this and the proof of their customers getting good returns and what/why does it have to do with Ethereum.

I would have done the same if it were happening at my place 

Yes, I did visit there yesterday and it is an MLM business using the binary model. The investment amount is $100, out of which $50 is parked for you on their exchange. I have no clue what kind of exchange is that and for the rest is converted into ETH and is also kept safely in your exchange wallet.

Every time a new member is referred by you and if you complete the pair you are paid $10 worth of ETH which is again directly transferred into your exchange wallet. You can use their own exchange to convert this amount to INR and payment is paid once a month.

I did not check further as the plan started to give me a headache. I acted as a lame guy who had no idea of cryptocurrency business and to my surprise they did fall for it.

Most of them did not even have the idea of who invented Ethereum and what are its benefits, they were busy selling me the concept.

[reliable]

Very much such schemes need to be avoided else it would not be sooner where this investor will realize that they have being scammed and this they have lost their money. Also, since you know this location so if possible, along with your friend just go and check out and try to understand the whole process of how much they are asking for investment, how many people have already joined and so on. This will just give us an idea of people ignorance.

Hello @ pakhitheboss
@reliable is pretty much right. Since this is happening in your locality, you should definitely go to that shop and try to enquire about what they are acutally doing.
If the process looks fishy then they are probably trying to scam people and we should make people aware by social media and other platforms.

Just go to that shop and ask what the whole process is. If it is an MLM scheme then what is their source of income if they are getting returns to their users, what's the guarantee of the returns.
Check if they are a registered company. Ask them since when they are doing this and the proof of their customers getting good returns and what/why does it have to do with Ethereum.

I would have done the same if it were happening at my place 

Yes, I did visit there yesterday and it is an MLM business using the binary model. The investment amount is $100, out of which $50 is parked for you on their exchange. I have no clue what kind of exchange is that and for the rest is converted into ETH and is also kept safely in your exchange wallet.

Every time a new member is referred by you and if you complete the pair you are paid $10 worth of ETH which is again directly transferred into your exchange wallet. You can use their own exchange to convert this amount to INR and payment is paid once a month.

I did not check further as the plan started to give me a headache. I acted as a lame guy who had no idea of cryptocurrency business and to my surprise they did fall for it.

Most of them did not even have the idea of who invented Ethereum and what are its benefits, they were busy selling me the concept.

Perfect business model to scam the people and in next 6 months or may be before this will shut and then people unfortunately who had fallen in their trap may lose their money before getting it for couple of months. I hope they close much before then making lose more people in it as people may just heard something about crypto and its rise and think it is good as an investment and this knowledge leads to easy scam victims in such MLM types.

[akram143]

You can find hundreds of these scheme offers on Instagram official ads as well, literally I am reporting 4 or 5 scam ads to instagram and also they reviewed my report and banning those ads in next few days.Scammers will be more active when the market is in profitable condition so beware all the time and never ever trust schemes on cryptos because crypto itself a good investment scheme.

[teosanru]

Yesterday I had gone out with a few of my friends and found this banner on a building at my location. I did some research today and found out that these guys are offering an Investment scheme in Ethereum through MLM.

They have exactly copied the logo and the name and are giving false hope to investors.  There are a few Investment schemes that are currently active in India related to cryptocurrencies like ETH, TRX, and BTC.

Please stay away from such a scheme and if you find any friend or family member introducing you or being part of such a scheme then please educate them.

This is pretty bad because such things would get caught one day and the news headlines would be that  "Ethereum Scam or racquet unfolded" and then people and authorities would get a wrong impression about cryptocurrencies. Not only would investors lose investment in these sort of things many potential investors who thought in investing cryptocurrencies get a negative impression about the technology. Moreover unfortunately we people can't really do a lot of things about it because even our police won't understand what these people are doing.

[pakhitheboss]

Yesterday I had gone out with a few of my friends and found this banner on a building at my location. I did some research today and found out that these guys are offering an Investment scheme in Ethereum through MLM.

They have exactly copied the logo and the name and are giving false hope to investors.  There are a few Investment schemes that are currently active in India related to cryptocurrencies like ETH, TRX, and BTC.

Please stay away from such a scheme and if you find any friend or family member introducing you or being part of such a scheme then please educate them.

Soon this TecraCoin will expand to the Indian market as well, because it solves real problems in crowdfunding

https://tecra.space/news/introduction-to-tecra

I do not understand what you meant about TecraCoin is this another scam investment scheme or are you promoting this cryptocurrency. I have no clue what does it do but, I do not want this topic to be spammed therefore with irrelevant response therefore I am locking it.