Reported to CryptoScamAlert
https://cryptoscamalert.com/crypto_scam_report/579
Topic: [SCAM]ethmagnet.com - ponzi scheme claims it is not ponzi (Read 123 times)
What happened: PONZI SCHEME
ANN: not listed here yet
Website: https://www.ethmagnet.com/
https://web.archive.org/web/20200829085051/https://www.ethmagnet.com/
Information about https://www.ethmagnet.com/ domain icluding IP-address:
IP/Domain Checker
https://ipinfo.info/html/ip_checker.php
Checking Domain Name
Domain Name: ethmagnet.com
Top Level Domain: COM (Commercial TLD)
DNS Lookup
IP Address: 104.27.131.254
Geolocation: US (United States), N/A, N/A, N/A N/A - Google Maps
Reverse DNS entry: not found
Domain Check
Domain Name: ethmagnet.com
Top Level Domain: COM (Commercial TLD)
Domain Name: ETHMAGNET.COM
Registry Domain ID: 2546635659_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.namecheap.com
Registrar URL: http://www.namecheap.com
Updated Date: 2020-07-21T09:14:07Z
Creation Date: 2020-07-17T08:14:17Z
Registry Expiry Date: 2025-07-17T08:14:17Z
Registrar: NameCheap, Inc.
Registrar IANA ID: 1068
Registrar Abuse Contact Email: [email protected]
Registrar Abuse Contact Phone: +1.6613102107
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Name Server: JOSELYN.NS.CLOUDFLARE.COM
According to VirusTotal website many malicious website are sharing the same IP 104.27.131.254:
ETHMAGNET.COM is smart contract based ponzi scheme pretending to be 'international next-gen crowdfunding platform'
You may ask why they are using smart contract to run their shady scheme. To figure out how that works I suggest this article: https://medium.com/blockcentric/ethereum-smart-contract-ponzi-schemes-9e43015b56f8
The following screenshot shows how scammers explain the usefulness of smart contracts, compare it with what is written in the article - it gives 'false sense of trust'.
In order to 'register' on the platform you have to pay - 0.05 ETH ~ 20$ at the current rate:
Who are creators of that platform? We don't know...
Most likely, this platform was created by scammmers from Russia:
They are making unrealistic promises of high returns to attract investors.
"We are not making promises, we just show you fake millionaires."
The project is not decentralized, because it requires a web interface to work. Another lie, someone has to pay for hosting, for example.
I have no idea what video ther are taking about, but this looks like clear Ponzi.
In case you succeeded to find your naive partner (victim) to return your investments there are no risks at all.
ANN: not listed here yet
Website: https://www.ethmagnet.com/
https://web.archive.org/web/20200829085051/https://www.ethmagnet.com/
Information about https://www.ethmagnet.com/ domain icluding IP-address:
IP/Domain Checker
https://ipinfo.info/html/ip_checker.php
Checking Domain Name
Domain Name: ethmagnet.com
Top Level Domain: COM (Commercial TLD)
DNS Lookup
IP Address: 104.27.131.254
Geolocation: US (United States), N/A, N/A, N/A N/A - Google Maps
Reverse DNS entry: not found
Domain Check
Domain Name: ethmagnet.com
Top Level Domain: COM (Commercial TLD)
Domain Name: ETHMAGNET.COM
Registry Domain ID: 2546635659_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.namecheap.com
Registrar URL: http://www.namecheap.com
Updated Date: 2020-07-21T09:14:07Z
Creation Date: 2020-07-17T08:14:17Z
Registry Expiry Date: 2025-07-17T08:14:17Z
Registrar: NameCheap, Inc.
Registrar IANA ID: 1068
Registrar Abuse Contact Email: [email protected]
Registrar Abuse Contact Phone: +1.6613102107
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Name Server: JOSELYN.NS.CLOUDFLARE.COM
According to VirusTotal website many malicious website are sharing the same IP 104.27.131.254:
ETHMAGNET.COM is smart contract based ponzi scheme pretending to be 'international next-gen crowdfunding platform'
You may ask why they are using smart contract to run their shady scheme. To figure out how that works I suggest this article: https://medium.com/blockcentric/ethereum-smart-contract-ponzi-schemes-9e43015b56f8
The following screenshot shows how scammers explain the usefulness of smart contracts, compare it with what is written in the article - it gives 'false sense of trust'.
In order to 'register' on the platform you have to pay - 0.05 ETH ~ 20$ at the current rate:
Who are creators of that platform? We don't know...
Most likely, this platform was created by scammmers from Russia:
They are making unrealistic promises of high returns to attract investors.
"We are not making promises, we just show you fake millionaires."
The project is not decentralized, because it requires a web interface to work. Another lie, someone has to pay for hosting, for example.
I have no idea what video ther are taking about, but this looks like clear Ponzi.
In case you succeeded to find your naive partner (victim) to return your investments there are no risks at all.
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