Hello and a very warm welcome back. Today we are going to do a review of Cloud Token Is It A Legitimate Business Or A Ponzi Token Mobile App?
Are there such things as Ponzi Schemes in Asia?
Cloud token hit the major press headlines in a big negative way in Asia. The money people invested into the program was withdrawn by the owners months ago.
Any new investments that are being made are going the very same way.
It is great to see you here doing the research before parting with any money on an online venture. That shows me you know what you are doing.
Research helps you to avoid the Scam companies that are plentiful!
Disclaimer. I am in no way associated with this company. The information being shared with you here today can be found on the internet by anyone searching for it.
This post may contain Affiliate Links. This means if you click a link and make a purchase then I could receive a small commission. The price you pay will not be affected.
P.s. I only recommend products and services that I actually use.
Cloud Token Review
Product Official Name: Cloud Token
Owned and Founded By: Ronald Aai and Daniel Csokas
Product Type: Mobile App Cryptocurrency Ponzi Scheme
cloudtokenwallet.com was registered privately on January 27th, 2019.
Price To Join: initially Free but if you want an ROI then you need to invest a minimum of $500.00
I am not here to try to sell you anything, on the contrary, I’m just giving you the available information to make a sound decision of your own.
What Type Of Opportunity Is Cloud Token?
I had not even heard anything about Cloud Token until it hit the headlines for all of the wrong reasons.
As a normal course of events, I am looking for new streams of income to join, so I was surprised that I hadn’t heard of Cloud Token before.
Why did it hit the headlines?
The owners of the platform stopped paying out to the investors and one of the founders namely Ronald Aai suddenly disappeared.
Other people involved are reported to be Sheng Zhao and Simon Tran. This information came from a promotional video.
Shen Zhao is one of the founders of the world’s blockchain forum a big name for sure.
This is not the first crypto gig that Ronald Aai has been involved in and none of them went well for the investors.
The program may not be currently running but the reason for the review is to warn you about the people involved, they are going to crop up again at some point.
Cloud token is basically a multilevel marketing opportunity (MLM) with a cryptocurrency platform.
The videos they have released explained who was involved with the setting up of Cloud Token but none of the landing pages gave any clues at all.
There was a crypto scam called Plustoken that also involved Ronald Aai and Daniel Csokas being named as the founders.
This particular company was around back in 2018. The marketing literature termed it as being a wallet that managed digital assets.
Blockchain wallets were used for transactions. Blockchain is a legitimate way of moving cryptocurrencies around. However, this pair was using the technology in a nefarious way.
MLM Companies Have Products
What sort of products or services does Cloud Token have?
From what I have discovered they don’t have any services or products. All you can do is invest in the tokens and recruit others to do the same.
In my experience, you shouldn’t join anything that is not open and above board with every aspect of the business.
How Does The Product Work?
The product is very cleverly set up but that doesn’t mean it’s not a Ponzi scheme.
They even have their own app on the android store which means these schemes are getting more elaborate.
Not surprisingly this token works in the exact same way as the plustoken, wo token, and SCF token same founders same ideas.
The tokens have no value whatsoever outside of this venture.
When you have made a purchase which is a minimum of $500.00 the money is then converted into CTO. The money you invested is then used to pay the members at the top of the pyramid.
This will become clearer to you when explaining how the compensation plan works.
How is a passive return on investment going to work?
Jarvis is an AI (artificial intelligence) that is used to trade in cryptocurrencies on your behalf.
No one has been able to find any kind of proof that any trading actually takes place, surprise, surprise.
Promising it’s members a passive income then makes this scheme a securities offering. But that causes a problem because they are not registered to carry that action out.
Now they are committing securities fraud on top of everything else.
As we can see so far the only revenue coming into the program is the money new members are paying to join it through recruitment.
The payout method is in cloud tokens that have no value other than in the program. You cannot trade them as a currency so they have no cash value.
I’m sure at this point you are asking yourself why people are joining this if they don’t get paid any cash?
Answer: clever marketing.
How Do You Make Money With Cloud Token?
The only way you can earn anything is by recruiting others to join Cloud Token. Some of the money invested by your recruit is paid to you, some to the person who initially referred you and so on and so forth up the pyramid.
Getting involved will cost you a minimum investment of $500. there is no mention of a maximum investment. This money is then changed into CTO and paid to the other members.
The Compensation Plan
The promise made is that you will receive an ROI of between 10 and 15 % per month. When you recruit other members who invest then you get paid the commissions.
Just like other programs of this type they payout using the uni-level system.
You are always the person at the top and any person you recruit becomes level 1 until all places are filled then level 2 is filled by your level one recruits until all spots are filled and so it goes on.
There are believed to be 21 levels, that would take thousands of people to fill the spaces.
A breakdown of how this works in theory:
- You need to recruit one affiliate investor to unlock level 1
- Then level 1 recruits two affiliate investors to unlock level 2
- Then level 3 recruits, three affiliate investors, to unlock level 3
- Then level 4 recruits four affiliate investors to unlock level 4
- Then level 5 recruits, five affiliate investors, to unlock level 5
- Then level 6 recruits, six affiliate investors, to unlock level 6
- Then level 7 recruits, seven affiliate investors, to unlock level 7
This continues up to 21 levels.
The referral commissions are paid out as a % match of the daily returns paid to the uni-level team members:
- level 1 (Your personally recruited affiliates) – 100% CTO ROI match
- level 2 – 50% CTO ROI match
- levels 3 to 21 – 5% CTO ROI match
All referral commissions are paid out in CTO which have no value outside of the program.
How The Rank Commission Bonus Works?
I bet you can guess how you get paid the rank commission bonus?
Yes! you got it right by recruiting others to join!
The higher up the ladder you reach the bigger your commissions will supposedly be.
What do I like About Cloud Token?
How to answer this honestly?
Just say it like it is!
There’s absolutely nothing to like about this program it is very obviously a scam in my opinion!
How Cloud Token Really Works!
This mobile app Ponzi scheme is not what it promises to be, No real surprise there!
#1 Not A registered company in places where they are operating. Cloud token should be registered in Singapore and also in Malaysia. When offering securities and MLM opportunities this is mandatory.
The fraud has also been committed in America, Africa, and Mauritius.
#2 The Founding Members Have Launched Other Pyramid Schemes Of This Type:
The other tokens mentioned above have all been created by Ronald Aai, they were all run in an identical fashion and all of them are now no longer in existence.
They were Just elaborate schemes to relieve you of your hard-earned cash!
#3 Arrests Made In Taiyuan: At the end of 2019 more than 70 people were arrested that were involved with Cloud Token.
This took place in a train station in China where an event was taking place regarding Cloud Tokens.
Those arrested were accused of stealing upwards of $4. Million from over 300 innocent people.
My Final Thoughts On Cloud Token
At the time of writing this review, some new information has come to light regarding whether this program is still operating. It’s believed the founders have pulled out.
Now, this has happened they have removed all of the invested funds and disappeared with them to the tune of over $30. Million.
You can find out more about this story by reading a report from the Taipei Times newspaper.
Lots of the members have been arrested and there have been no signs of the money that was extorted through this elaborate Ponzi Scheme.
Because this is not the first scheme of this type to be run by these people it is very highly likely that another one of this type will start up again.
Keep your eyes peeled for a new crypto token to be launched!
I Work Full-Time Online
For the past 12 months, I have been working online, It took just 10 months of work for me to be able to quit my day job!
There are real opportunities to work online out there that are not scams you just have to do some research in the right places.
Anything that says you only need to work for a few hours a day and promises a lavish lifestyle is one I would steer clear of.
MLM’s are notoriously bad news and that’s why I stay away from them.
If you wish to earn money online then I would recommend that you look at my secret weapon for success, But be warned it does take you to actually work!
This is a real opportunity for you to own your own business, it’s not a get rich quick scheme that makes ridiculous promises.
The opportunity is free to join, no credit card required and there are 2 paid levels inside with absolutely NO UPSELLS!
Learn how to become a blogger and affiliate marker with a legitimate company so that you can quit your job if that’s your desire!
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