THELOGICALINDIAN - Accusationshas alike suggesting that the two MLM projects We Grow Bitcoin and Ethereum Project as able-bodied as the ERC20token wallet account provider Ethereumchamberare absolute scams amid abounding others
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We Grow Bitcoin and Ethereum Project Promises Profits and Philantrophy
Earlier this anniversary New Zealand account aperture Newshub warned citizens adjoin the pyramid arrangement ‘We Grow Bitcoins’, which has admiring investments from over 1300 associates internationally.
We Grow Bitcoins encourages users to accomplish a ‘donation’ of 0.01BTC and assurance up 5 added associates to the company, anniversary of whom ‘donate’ 0.01BTC to the referrer. Users are again encouraged to assurance up added users and accord beyond sums in barter for promised account allotment of up to 62 BTC. Predictably, associates never see the promised allotment and are larboard with the abashment of accepting active up others to the scam.
We Grow Bitcoins’ business archetypal is not unique. The adverse assimilation of Multi-Level-Marketing scams into the cryptocurrency apple has apparent abounding of these counterfeit pyramid schemes attempting to allurement amateur cryptocurrency users – with Ethereum Project actuality amidst the best contempo to surface.
Ethereum Project makes counterfeit claims of affiliation with Choice Humanitarian – a accommodating alignment whose primary mission is to accommodate greater allotment and assets to communities in the developing apple disturbing to accouterment issues of malnutrition, cooler bubbler water, arrested educational and health-care accessories and infrastructure.
Ethereum Project claims that a allocation of all ‘donations’ will go to Choice Humanitarian, an absurd affirmation advised to advance an apparition of philanthropy. Underneath the appearance of charity, Ethereum Project is a all-encompassing MLM pyramid arrangement that entices users with unrealistic abeyant allotment in barter for associate sign-ups, aesthetic their victim’s appetence for acquisitiveness afore abating them of their coiffures.
Scam Site Hosted the Official Music Video for Juicy J’s ‘Blue Bentley’ Single
Also, according to contempo online accounts, the web area ethereumchamber.net has been acclimated to abduct the clandestine keys of biting customers. After the betray was appear the armpit started hosting the official music video for Juicy J’s ‘Blue Bentley’ distinct – an credible banter at those who fell victim to the awful fraud.
Ethereumchamber has abolished as bound as it emerged, afterward a abrupt beachcomber of sponsored publicity hosted on abounding arch Bitcoin and cryptocurrency media outlets, blogs, and websites.
“Theft is illegal. We don’t disregard actionable activities. Lol” – EthereumChamber
Rumors of the betray aboriginal emerged from MyEtherWallet.com, who tweeted advertence “CONFIRMED: Ethereum Chamber is burglary your clandestine keys. DO NOT USE”. Ethereum account website ethnews.com contacted Ethereumchamber apropos the allegations in contempo days, alone to accept the afterward acknowledgment – “Theft is illegal. We don’t disregard actionable activities. Lol”
Unfortunately their columnist absolution slipped through additionally news.Bitcoin.com:s austere vetting system due to an centralized misunderstanding, and was appear amid added columnist releases for about 42 account afore the aberration was noticed, and the columnist absolution was anon retracted. Most sites and projects get their allotment of betray accusations, whether accurate or not. Still, mishaps like these are actual attenuate at Bitcoin.com, but they are allotment of the acumen columnist relases accommodate a disclaimer. It reads;
“This is a paid columnist release, which contains advanced attractive statements, and should be advised as announcement or promotional material. Bitcoin.com does not endorse nor abutment this product/service. Bitcoin.com is not amenable for or accountable for any content, accurateness or affection aural the columnist release.
Readers should do their own due activity afore demography any accomplishments accompanying to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, anon or indirectly, for any accident or accident acquired or declared to be acquired by or in affiliation with the use of or assurance on any content, appurtenances or casework mentioned in the columnist release.”
Imperative to Educate Oneself About Best Practices Regarding Securing, Managing and Storing Tokens
Events like these highlight the charge for participants in the cryptocurrency ecosystem to convenance due activity and abundant absorption back because employing third affair companies to abetment in the administration of any cryptocurrency portfolio. The contempo acute boilerplate media acknowledgment of Bitcoin and cryptocurrencies has accordingly admiring the absorption of conmen, in accession to new users.
Although cryptocurrency technology may assume cutting and alarming to some, it is acute that new users booty the accomplish appropriate to brainwash themselves about best practices apropos securing, managing and autumn their tokens, and to exercise attention afore sending cryptocurrency to any aggregation or individual.
Click here to apprehend Bitcoin.com:s “Your Guide to Avoiding Bitcoin Fraud”. Best practices are applicative to most so alleged altcoins, and added copies of Bitcoin.
Have you anytime collapsed victim to a Bitcoin scam? Share your adventures below!
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