Alleged Bitcoin investment scheme Ecoin Plus has disappeared and closed its website, leaving investors with nothing.
Known variously as Ecoin Plus and empowercoin.com, the tool touted annual returns on submitted Bitcoin investments which increased according to how many coins were contributed.
No information is available from developers, with the project keeping a low profile throughout its existence.
“It would seem that Ecoin Plus doesn't want anyone to know who they are or what is really going on behind the scenes of this Bitcoin community,” a quasi "review" on news resource Players Money states.
In a manner similar to assumed Ponzi scheme OneCoin, Ecoin Plus offered so-called “packages” with differing rates of return.
Please do research
No product or service was available, and no proof of funds handling or security was made public.
“It would seem that Ecoin Plus is the way to go to make money from Bitcoin. After all, the site states that they mine the Bitcoins so that you win in the long run,” Players Money continues, adding that it found “major red flags” while assessing the now-defunct website.
As recently as a week ago, however, Ecoin Plus was uploading promotional material in which various “users” reported receiving thousands of dollars in dividends.
News source: https://cointelegraph.com/news/another-day-another-scam-ecoin-plus-disappears-with-investors-cash
If people familiarized themselves with hyip (high-yield investment programs), then it would be fairly obvious which of these coins you might want to avoid.
Hyip's are becoming notorious for making crypto claims about gains and payouts and crap.
At this point, It looks to me like "BitConnect" is set up in the EXACT same manner as a ponzi. You can only purchase the coin through the site, which they collect in bitcoin...and you are given a very very high rate of return on your investment.
If BitConnects site goes down....so long investor money!
I'm sure you'll a lot of smarter con artists setting up coin ponzi schemes...cuz why wouldn't they!....it's a great system to take advantage of unknowing, eager investors trying to cash in on the crypto gold rush..
Fool me once...shame on you. Fool me twice....then turn your brain on.
Yes, people need to be more aware and knowledgeable. Because in this crypto world it is going to be easier to dupe others!!!
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