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The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

This is an analysis of the ETHTRADE LIMITED pseudo-trader pyramid (ethtrade.io, ethtrade.org) intended for investors from the CIS space, with consideration for testimonials from investors, and for the danger of the “investment” proposal to our fellow citizens, with the purpose of informing users about the new type of fraud and scamming in the territory of Ukraine and the Commonwealth countries:


The process of selling air to potential investors proceeds through all possible marketing promotion stunt, including with multimedia accompaniment.

We’d like to mention at once that it will be difficult to get in the ethtrade.org financial pyramid’s website with a Russian (Ukrainian) browser (thank you guys for it), but the scam is functioning and operates the ethtrade.io dimain. The information about the domains won’t tell or show us anything interesting, I mean ethtrade.org and и ethtrade.io. Of course the registrator of the internet.bs domain isn’t completely Chinese to say that the project comes from China, but it’s the minimal group of risk, of course all the domains are closed via Privat Whois:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The fraudsters own the ethex.co pseudo-exchange office – which will be mentioned below.

The websites located at the same IP address (Name Server DNS server: KIM.NS.CLOUDFLARE.COM and Name Server: ARNOLD.NS.CLOUDFLARE.COM) show also 6 other projects, but it’s most likely that they have no relation to our scam because of the date of registration and completely different topics, it’s just that the cloud service IP address is the same (ip:104.25.183.106):
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


It is interesting to note that the ethtrade domain in the .io zone (ethtrade.io), which is translated literally as “input/output”, prepares investors subconsciously for the pyramid mode of operation through a record keeping of input and output, it's black humor but Freudian slips of tongue can always happen.

The Ethtrade Limited financial pyramid (ethtrade.io, ethtrade.org) – pseudo-trading:
Let’s take a closer look at the “beast”, now that the Russian language is rather decent in some of the sections, and the English language is, surprisingly enough, above the average “across the board”. There is a legal person that is responsible for all this scam – it’s ETHTRADE LIMITED, Company ID No. 2398217 of July 4, 2016, registered in Hong Kong (an offshore company), having its office at the following address: Unit 3, Room 2207-9 Tower Two, Lippo Centre, 89 Queensway, Admiralty, Hong Kong (this is a registered address, without an actual office and any employees in it, a nominal servlice like in all offshores, a virtual office). The company doesn’t have a statutory capital fund (it’s what it is in fact responsible to the investors with– it’s zero, registration of an offshore company allows for that, and this aspect is written into the documents). The Ethtrade Limited company isn’t a member, and doesn’t fall within the sphere of influence and control of SFC, Hong Kong's financial regulator; there are also such aspects as the company’s complete lack of lawfulness (money is received into the bank account in any, even dubious, form, no credit card acceptance, no bank account as such). Also, there is no audit of the company at all and no financial supervision from a competent regulator such as SFC, no broker’s license or license for trust management of investors’ funds (no matter in what sector of economy). Even though the fraudsters provide the “allegedly complete package of documents”, and it’s NNC1, Certificate of Incorporation, BR 2016/17, Articles of Association – it’s a standard package (which isn’t even complete but extremely superficial) when registering the offshore company, this can be checked by clicking the link Gsl.org (or in any company, the scope of which is registration of offshores in Hong Kong), the package of documents can be downloaded at this link. Do you want to call the company? Sorry, there is neither an office nor a phone number yet, and no plans to have them.

The activity of the Ethtrade Limited financial fraud (ethtrade.io, ethtrade.org):
As for the documents, licenses, rights, and statutory fund, we’ve looked into them, this is an absolute shell company without a penny to its name, working not only in the markets of Hong Kong and China but in any country of the world as well completely illegally. Here are the activities and the “profits” that are promised to investors:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

This is a beautiful legend, which is not confirmed with absolutely anything except fine words and more fine words. No audits, no financial regulator, no statutory fund, no bank account, even no office. The interest payments promised to investors are just an evidential base showing that the company is a standard financial pyramid, this is also confirmed by the MLM partnership program, there is no slightest trace of trading with the Ethereum currency at all. There are no staymets, no information on trading or evidence of activities – they are absent to the full extent. The fraudsters simply took the Western trend, the Ethereum currency, and set it forth as the façade of their fake activity.

The calendar of amounts credited (history of profit) shows a proofless rate of return, which is not supported with any document, or in any other format or way; a html page, the same as a sheet of paper, has no soul and can tolerate absolutely all the lies and story-telling fed to investors by the fraudsters. It turns out that the company, which entered the market in the end of 2016, even has a financial statement for 2015-2016 (from August till August), believe it or not; naturally the statement has been executed in a standard PDF file, without the auditors’ seals, it’s just toilet paper (don’t forget about the company’s zero statutory fund). It can be downloaded at this link just in case:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


The fictitious traders at Ethtrade Limited (ethtrade.io, ethtrade.org) and public figures:
It’s all old as the hills: valueless names and usernames, the facts of trading that aren’t confirmed in any way, the same as the relations of physical persons to the company as such; the social networks show hundreds of people with similar names and surnames, и from all over the world; alas, the information is absolutely fake and can’t be trusted, it’s a pity they didn’t include Vladimir Putin there as well, it would have been interesting. The public figures of “allegedly directors, owners” haven’t been recorded in the documents in any way, the Internet hadn’t know anything of the said persons before Ethtrade Limited appeared, what sort of toilet paper they sold before that, it must have been the cheapest sort if they agreed to participate and to be “money mules” in the fraud. See the unknown guerilla warriors and geniuses of marketing and trading live:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


The public offers like the Agreement, Partnership Agreement, Privacy Policy are of standard type, where nobody has any obligations before anybody and doesn’t undertake anything, in view of the zero statutory fund Ethtrade Limited can’t guarantee or promise anything, even a bottle cork – they can’t do it either legally or actually, there is nothing to use as surety. They say investors can conclude an agreement with Ethtrade Limited – let’s assume it’s so. Where does that get us? Nowhere at all; transfer of funds via pseudo-financial instruments and a pseudo-legal exchange office isn’t a fact of transfer of funds under an agreement, what is more, when the financial pyramid of Ethtrade Limited collapses, it will be the “dummy offshore in the virtual office registered in the name of the nominal owner” that will be liable under the agreement – that is, Eeyore the Donkey from the faraway and sunny Hong Kong.

The rate-of-return statistics (allegedly the statements) is just fine numbers, words, and plots, there isn’t a single proof of work on the stock exchange, or transfer of funds on the stock exchange in any amount or format:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


ETHTRADE LIMITED (ethtrade.io, ethtrade.org) in the world:
The financial pyramid is just entering the CIS countries, which can be seen from Yandex’s data:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

Altogether, they are trying to develop in the Asian market, in the Western market, naturally they don’t forget the CIS market, entering it gradually and jeopardizing the investors’ money. Rumor has it that the project was created by the Chinese, at the present moment it is hardly believable for a number of reasons, but alas, there is no data available to tag it a “Russian” project being 100% sure, though it’s in the CIS space that they picked quite many of their tricks (promotional stunts and promotional products, collection of money via pseudo-exchange offices, and others, which will be described below).
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The very low social indicators, on Youtube.com for instance, emphasize the information that the financial and quantitative data depicted on the main page of the project is inaccurate.


Relation of the Ethtrade Limited financial fraud (ethtrade.io, ethtrade.org) to other scams:
We know the DNSs of the domains (published above: KIM.NS.CLOUDFLARE.COM and ARNOLD.NS.CLOUDFLARE.COM), the following projects still have similar DNSs:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

- Skyllex - skyllex.com, which in all likelihood is a power-up for the main project (both the type of activity and the DNSs, and even the whois of these domains coincide), the project was launched in the middle of 2016, which is a coincidence as well, the same as contacting the administration via the administration of Skyllex:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

- there are great coincidences of the topics and the DNSs with the following domains (every one of which are financial pyramids, and they have already been closed): albion-bank.com, forexunion-ltd.com, binbrokers.com, themost.club
- information popped up in a thread on the mmgp forum when analyzing the skyllex.com fraud that the project belonged to a group of fraudsters from ... Dnepropetrovsk (which isn’t a surprise), and proofs were furnished (quite reasonable and checkable), you can read about it here:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

- the fake pseudo-exchange office ethex.co (created by the fraudsters at Ethtrade specially for their project) is located at the same DNSs, it’s interesting that the exchange office has been constructed on the base of a free default script, and it contains such payment instruments as Yandex.Money and Qiwi - it's hard to imagine why the Chinese need them, but it’s the “Russian and Ukrainian” trace again.
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


As for the “Russian and Ukrainian” traces, they are present even in the design of the Ethtrade scam (ethtrade.io, ethtrade.org), and indeed the guy from the design in the page Ethtrade.org/agentValentin Nesterenko’s VK page (Kiev, Ukraine), will you say it's a coincidence? I can agree with you, but aren’t these coincidences too many?
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


The investors’ testimonials about the Ethtrade Limited financial scam (ethtrade.io, ethtrade.org):
In fact, everything is honest here (surprisingly enough): all the more or less public investors (it’s about fraudster bloggers and ref managers) declare truthfully and honestly that the Ethtrade Limited company is a HYIP, a con game, a fraud, called by the people simply a scam:
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)
The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)

The Ethtrade Limited financial pseudo-trader pyramid (ethtrade.io, ethtrade.org)


The best and “said to the point” testimonial, I’ll dare add a quote, has been taken from the Ffreedom.ru website. It’s pleasant to see that there are people who don’t run around like jackals, and see the fraudsters’ picture clearly:

Oh, at long last! We are introducing to you the Ethtrade HYIP, with negative testimonials, and the Ethtrade scam, the first one within our memory that isn’t oriented at the Russian-speaking audience almost at all; that is, a really international company (of course if we don’t count MMM, which is now “working” actively in Southeast Asia and Africa). But MMM has Russian roots, and here we have a company with an unknown country of origin, but evidently not from the CIS. According to the statistics, this company is most popular in the USA and China; and it looks like it has developed very well, which doesn’t prevent doubts concerning its honesty from appearing, although (it has been declared that they are engaged in trading cryptocurrencies and so on), in particular:
- Some sky-high (especially for the USA's market) interest rates. And they are more than high for us as well – from 15 to 25 percent per month. As a matter of fact, this is almost 100% guarantee that we are facing a pyramid because when having such guaranteed profit-making capacity no sane person would tell everyone and his dog about it (this is at least illogical). Just think: 25% per month is 1355% per annum (with consideration of reinvestment of the funds invested previously)! That is, your deposit will increase by 14.5 times in a year! And do you know how much it will increase in 2 years? By 211 times! If the company is a honest one, then it’s simply a millionaire-making factory. So, where will it get all this money from? Do you think it’s profit from trading cryptocurrencies? We strongly doubt it. And what is most important, it's not clear why it would want to share such megabucks with us, and why it would need our cents for investments, if even 100 (one hundred) dollars can be turned into 21 thousand in 2 years.
- But this is not the whole story yet. The partner program suggests that as many people as possible should make investments, apparently in order for us all to become rich to the maximum degree. But what’s the sense of it if there are more than enough eager ones even without that? There can only be one conclusion: to collect more money from depositors as quickly as possible.


Do you think they don’t know in the West that it’s a financial pyramid? Nothing doing - Google.com puts you up to the reality and the actual state of things very well, instead of the fairy-tale presented to the investors from the screens of staged videos and photos.

Conclusions from the investigation:
- the said company is 100% a financial scam (a pyramid)
- the company conducts its activity without the necessary license (financial license, license for trust management, or broker’s license) in the territory of the CIS and other countries of the world (China, Hong Kong, the USA, Ukraine, Russia)
- promises of incredible rate of return, the rate of return is not confirmed with anything, deceit with the financial statements (for 2015), deceit with the weekly statements and statistics
- the multi-level referral system, all the elements of the fraudster network type of attracting investments, significant bonuses for attracting clients (symbiosis of structures between a MMM and a MLM fraud)
- absence of intrinsic guarantees of funds payoff, a legal fraud with a void agreement
- an offshore company, without a statutory fund (and solid assets), with a virtual office, without bank accounts
- false presentation of their activity, absence of a regulator and a license, of company monitorings and audits, of their work’s transparency and truthfulness, of confirmations of trading and of traders’ actual existence, non-transparent work with finances using “legends”
- absence of audit reports, hidden financial indicators of the company, no transparency, no regulation from financial institutions
- acceptance of funds via a dubious EPS, no legitimate and legally sound methods for acceptance of funds (bank account, credit cards)
- technical relation to many financial pyramids (existing and closed ones), ample criminal experience in the field of frauds and investor confidence
- pseudo-activity under the guise of trading Ethereum currency

Обновили 07.04.2017:
- Финансовая псевдо трейдерская пирамида Ethtrade Limited - (ethtrade.io, ethtrade.org)
- Pseudo-Trader-Schneeballsystem Ethtrade Limited (ethtrade.io, ethtrade.org)
- Опасность для инвесторов Ethtrade Limited и Investment Dragons
- System-based financial pyramid Investment Dragons (investment-dragons.cn.com)

Based on the investigation and the conclusions, the Ethtrade Limited financial scam (ethtrade.io, ethtrade.org) is included into the “Black List” without a shadow of doubt.


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