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Cloud Token Warning

We are aware that a number of of customers are wishing to invest in Cloud 2.0 or the Cloud Token Wallet. We believe this may.

Posted November 18, 2019

cloud-token-scam-nz
cloud-token-scam-nz

We are aware that a number of of customers are wishing to invest in Cloud 2.0 or the Cloud Token Wallet. We believe this may be a scam. The platform is currently being investigated by a New Zealand government agency, the Financial Markets Authority.Areas of concern that we have are:

  1. Fake product – it appears that Cloud Wallet is not a real wallet and when you invest in Cloud Token you do not receive any tokens at all. See this site for more explanation.
  2. Fake investment returns – Remember that “if it seems to good to be true, it probably is”. Cloud 2.0 claims to be making returns through arbitrage, but have provided no evidence of this. All cryptocurrency transactions are publicly visible, so if Cloud 2.0 really was trading to make arbitrage returns, they should be able to provide verifiable evidence. In addition, the returns they claim to be making are completely unrealistic, even with Jarvis AI
  3. MLM / Pyramid scheme – Cloud 2.0 places a huge emphasis on signing up other users, and a requirement for minimum account funding. This is a classic pyramid scheme, where the money from new people signing up is used to pay out “investment returns” to people who signed up earlier. There is no investment income – simply your money being sent to the people up the pyramid from you.
  4. Complaints – There are many complaints of people not being able to get their money out, customers of ours have complained about this.
  5. Unregistered – We could find no information as to what country the company is registered in, and we can find no evidence that they are a registered financial services provider. This is a massive red flag, ALL companies providing investment opportunities MUST be registered.
  6. Warnings – If you google “cloud token scam” there are many warnings out there already. See here and here and here and here and here… I could go on!

Please, look out for your money and look out for your friends and family and do your research before investing in any opportunties.

ponzi-scheme-infographic
Cloud Token appears to be a ponzi scheme

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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.

Last updated October 18, 2022

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