MorCrypto Exchange (ICO) with ponzi scheme & plagiarized ToS - page 2.

Kyraishi

hero member

Activity: 952

Merit: 513

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.

Quote from: examplens on September 18, 2019, 07:37:30 AM

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.

Quote from: EliseWatoson on September 19, 2019, 12:28:14 AM

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.

Quote from: dkbit98 on September 18, 2019, 11:15:07 AM

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://bitcointalksearch.org/topic/ponzi-scheme-invest-limited-is-a-new-bitconnect-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.

TalkStar

copper member

Activity: 1204

Merit: 737

✅ Need Campaign Manager? TG > @TalkStar675

Quote from: witcher_sense on September 18, 2019, 08:38:08 AM

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.

The Cryptovator

legendary

Activity: 2240

Merit: 2174

Need PR/CMC & CG? TG @The_Cryptovator

Quote from: EliseWatoson on September 19, 2019, 12:28:14 AM

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.

EliseWatoson

newbie

Activity: 17

Merit: 3

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.

dkbit98

legendary

Activity: 2212

Merit: 7064

Cashback 15%

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://bitcointalksearch.org/topic/ponzi-scheme-invest-limited-is-a-new-bitconnect-5177587

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

witcher_sense

legendary

Activity: 2310

Merit: 4313

🔐BitcoinMessage.Tools🔑

Quote from: examplens on September 18, 2019, 07:37:30 AM

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.

examplens

legendary

Activity: 3248

Merit: 3098

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.

The Cryptovator

legendary

Activity: 2240

Merit: 2174

Need PR/CMC & CG? TG @The_Cryptovator

Website: https://morcrypto.net/#ico
Archived: http://archive.is/CDoTm
ANN Thread: https://bitcointalksearch.org/topic/m.52484428
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

Plagiarism revealed by Marlboroza;

Quote from: marlboroza on August 04, 2020, 06:58:56 AM

Is Binance aware that biggest Nigerian project is using their ToS (MorCrypto's ToS: archived http://archive.is/ImpP9)?

Topic: MorCrypto Exchange (ICO) with ponzi scheme & plagiarized ToS - page 2. (Read 634 times)