After hearing everything from your side its pretty much clear to me that your friend got scammed and its really sad. Usually those kinda scammers specially target crypto beginners because they haven't got enough knowledge about trusted source of investment. As same as your friend put his step on their trap after hearing their 1x profit plan in a short time.
You can collect all the details from your friend to open a thread on forum's Scam Accusation section. I hope thats gonna help many others to be careful about similar kinda scam incidents.
Topic: Is this a scam? What to do next. - page 5. (Read 2486 times)
This is a cheap and clean scam, this is visible to the blind and audible to the deaf
What else does it look like other than it being a same, has he not heard of hyip Ponzi scheme before, this is exactly what it is and this is not the first time that things like this has been happening, I have seen several of such thing in the past even before cryptocurrency came into existence.
It would get to a point now where they either disappear and shut the site down, or they tell you they have sold the company to a new management, and the new management too will keep collecting fund from him telling him this same story that before he can withdraw his fund, he would need to pay more money and they might even get to the stage where they will tell him to bring in new people before he can unlock the withdrawal of his own money. All these things are just greed from us I think, because everyone knows now that only bitcoin is still the safest and direct investment.
It would get to a point now where they either disappear and shut the site down, or they tell you they have sold the company to a new management, and the new management too will keep collecting fund from him telling him this same story that before he can withdraw his fund, he would need to pay more money and they might even get to the stage where they will tell him to bring in new people before he can unlock the withdrawal of his own money. All these things are just greed from us I think, because everyone knows now that only bitcoin is still the safest and direct investment.
So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
I don't know about police, but these scams have been going on for ages. Of course they are going to be from a conveniently, lets call it, "complicated" country where chances are your laws won't ever touch them.
You can replace "crypto" with "gold" or whatever, and you'll recognize the scam. This has nothing to do with actual crypto, any bait that sounds good will do, and of course they will encourage him to "invest" (give away) more money. It say 2500€ is a pretty good catch per
So its like me telling you to give me your money and i will give you back twice, and perhaps even do it once or twice (which these people didn't even bother to do). How big can the stupidity of people be?
A "smartphone app" can be programmed to do display anything, it doesn't make it any less lie.
Oh and by the way, the "come asking" part is supposed to occur before you foolishly give your money to strangers, else why bother, its lost... What, will the UK declare war to Russia over some mafia boys scamming a few British subjects overseas? Doubt it...
Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
What should Sam do? Will the police help?
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
What should Sam do? Will the police help?
I think I know about what scam you are asking, just because you write that your friend pay €500 for start. It is probably Cloud Token scam which is reported many times on this forum. Your "friends" are very naive to belive in such things as free money for doing nothing, and it is absolutely incredible to give such amount of money to total strangers.
If people from Russia is involved in this, forget on police, best advice is to change phone number and forget everything.
One more time i`m totaly new in this , i register under this friend of mine but now i`m just having this should i risk deposit that minimum 500$ and see how it goes ?
I feel a bit mad because last year when everyone said to me join you`ll get money i was like yeah sure another scam, now when i see them i feel a bit fool
I feel a bit mad because last year when everyone said to me join you`ll get money i was like yeah sure another scam, now when i see them i feel a bit fool
$500 minumum deposit is how your friend is making $40.000 per month, he is on top of MLM pyramid and he get commission for every person who sign under him, classic ponzi / multi-level marketing which will collapse sooner or later. You should not feel as fool, this is not project that have any other purpose then to make few people rich.
There is review about Cloud Token, and I will quote some important things :
Quote
Cloud Token’s website provides no information about who owns or runs the company.
The Cloud Token website domain (“cloudtokenwallet.com”) was privately registered on January 27th, 2019.
The Cloud Token website domain (“cloudtokenwallet.com”) was privately registered on January 27th, 2019.
Quote
Cloud Token has no retailable products or services, with affiliates only able to market Cloud Token affiliate membership itself.
Quote
Cloud Token affiliates invest $500 or more in CTO tokens, on the promise of an “average 10-15% per month” ROI.
Commissions are paid when Cloud Token affiliates recruit others who do the same.
Cloud Token pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1)
Commissions are paid when Cloud Token affiliates recruit others who do the same.
Cloud Token pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1)
https://behindmlm.com/mlm-reviews/cloud-token-review-another-mobile-app-crypto-ponzi-scheme/
So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
Oh my gosh! you're friend obviously transacted by the scammer. Never believe easily with lots of promises in return dude.
And those victims sometimes, became greed because of lots of promises they've heard for the scammer is the reason why they spent
money to those unknown people. I guess, this will give a lesson learn to you dude.
So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
That is absolutely purely scammer, they are obviously greed in money. You better stay away from this type
of people. They are very aggressive to contact and converse with you as long as they're not getting what they want from the
victim and from you but once you give your investment 100% for sure they will stop communicating with you at once.
The information you shared is few so i considered it a scam too. We should not trust anyone that we did not meet before that we should not give them our money without verifying it first like if the person is legit, if the project really exist and if they have business permit to operate. If these tips are not verified then your friend will might become victim of scam.
Your friend already lose money by investing without any research about that product. The team is asking for more money because they know that they can get more if they rush your friend to invest more. The police can record this incident but they can't help you to get back the money because they of being anonymous in a world of crypto. Its a clear scam because its easy money, feel sorry if you will invest more.
I agree. Just stop to give more because they cannot give it back to you. They are just fooling you because they know you do not even suspect them and just take a bait they give to you. It such a big lose which give a lesson to everyone to search first and ask people who knows about it more than you who will advice you. Quote
What should Sam do? Will the police help?
Sam is definitely a common victim of just another scam. Now, the next question is what should Bob do? First, he should stop listening to these scammers as it can mean more financial bleeding. Second, he can try to at least have the crime reported. Third, he should start processing what happened and just learn the many big lessons out of it. Fourth, he should accept now that his money is gone with the wind.
The answer for Sam's situation is simple, Sam has been scammed and there is no way he will be getting the 900 Euro back. Just tell him that, he has been scammed. And please help him understand what crypto is and not to invest into anything he has little or no knowledge about. People will also take advantage of the lack of knowledge people have in the crypto space.
Yup, that is a scam for short 
In the name of investment, if you are making a profit in a short time, that will be too suspicious because we know the investment itself needs time before we can make a profit. The short time we can get the profit will be at 1 day, 1 week, or 1 month but if the return is too big to imagine, then that will end with the scam.
It is true. The easier it is to get a profit on an investment, let alone the way it's so easy, the more suspicious it is. Well, nothing is easy and instant, everything needs a process. If it's that easy, surely all the teams are already rich and don't need to look for additional funds by influencing more people to join. Come on think logically. In the name of investment, if you are making a profit in a short time, that will be too suspicious because we know the investment itself needs time before we can make a profit. The short time we can get the profit will be at 1 day, 1 week, or 1 month but if the return is too big to imagine, then that will end with the scam.
According to the story you shared is obviously and clearly pure scam, the of bob and sam is learn to all do not trust trust people investing funds without any study and investigation to avoid vitcim of scam. A lot of the people use this new digital crypto currency to make easy money even in the bad ways.
Why will anyone send money to someone they don't know that is promising double investment in just few hours thats just pure greed.
Ask the whitelist from the development team as it gives you details about what the team is doing. Ask for anything from his project development team to verify it. Do not be foolish to make further investments if you have not verified this is a real project and it can be profitable.
This is a typical scheme on what many people should avoid - a clear example of "double your money scheme" which has
already crawled its way to crypto industry! Remember, "if its too good to be true" it is very probable that it is indeed a
scam! Let us all be vigilant about this and spread awareness within the community.
It doesn't matter whether some proposal sounds too good to be true or not, catchy thing here is that people want to hear what they wish and once they hear it, then they want to believe it and are often looking for positive arguments and sometimes are left under spell so much that they don't even think about opposite arguments.already crawled its way to crypto industry! Remember, "if its too good to be true" it is very probable that it is indeed a
scam! Let us all be vigilant about this and spread awareness within the community.
Also only high profit offers aren't scams, can say the same about those projects who promise low profit, it's a trick, low means steady and guaranteed profit for some people while it's getting easier for scammers to catch such people.
So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).
Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
I have heard about this scam somewhere before. Someone on the forum was talking about the same scam he has faced where a "person" contacted him saying that he can invest his coins on a certain platform and then he will double the investment. The person than started to ask for more investment before he could completely withdraw his coins. I don't remember the whole story but it was some what similar to this. Unfortunately, this is a very obvious scam and is very sad to fall for this. There is nothing much you can do other than ignore the person when he asks for more investment. I doubt the police can help in this case. Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.
Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.
What should Sam do? Will the police help?
A friend of a friend what a funny way to start this imaginary story, what an easy way to get scammed, your friends really are very gullible this is no case of being a cryptocurrency novice it's a just too bad
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
This is so typical for people. They invest very little at first thinking that it will make them safe against scams and then when the money doesn't disappear but is there on the account making more money they lose their heads and spend more and more.
2000 EUR is not the end of the world. It will be a valuable lesson for him.
This is a problem if “Greed” interferes the scenario ,becaue everything turns interesting even that the people involved knows nothing about the area he was investing
This is a clear scam when people randomly asked you to invest promising good amount or irresistible,why would people that you don’t know will encourage you to invest?and the problem also for Bob and Sam is they come to invest continuously without clarifying how would be the profit claimable?
Tell Bob and Sam to move on,forget this person because they were being fooled and make this as experienced to be learnt and not to happen again
This is a clear scam when people randomly asked you to invest promising good amount or irresistible,why would people that you don’t know will encourage you to invest?and the problem also for Bob and Sam is they come to invest continuously without clarifying how would be the profit claimable?
Tell Bob and Sam to move on,forget this person because they were being fooled and make this as experienced to be learnt and not to happen again
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