The demise of Bittrain left bitter pill in the mouths of investors
It’s game over, the Bittrain’s unstoppable train has suddenly come to abrupt halt with a screech. Willy-nilly defines its derailment.
Myriads of investors have lost millions of dollars to malefactors ICOs scams since 2017 as reported by MLM magazine earlier this month. It seems they were operating clandestinely on this devious ruse.
MLM came across numerous messages from the members of Bittrain, initially one of our senior reporters published a message which read-
“Morning..I have been anxiously waiting to see an article about Bittrain…pending withdrawals since 18th June…all the signs of being scammed are there and yet people are still allowing new ones to sign up …save someone from losing money. These people have got to stop”
Also, recent messages from Support Panel Consultant read as follows “Company collapsed, out of Money”, ‘Yes it’s gone”
Bittrain was a ghost ICO which slowly built up its swindle which bilked people millions of dollars as mentioned earlier.
The company opened doors to South African investors in 2018, with intentions to lure many as an investment company. Many people made a large amounts of money for several months. The firm was a Ponzi scheme, an exploitative, fraudulent scheme investing con promising lofty rates of return with little risk to investors.
The pyramid scheme generates returns for early investors by acquiring new investors. It is based on using new investors’ funds to pay the earlier backers. Pyramid schemes have existed for at least a century in different guises. Many multi-level marketing firms have been classified as pyramid schemes.
According to MLM magazine ‘s earlier publication, Bittrain is owned by undisclosed owners. The CEO according to its site is Allen Coko who has no LinkedIn profile. A Facebook page attached to the project gave the name of the Executive leader as Jonathan Tacad.
The designated co-founder on the website was John Kin. The farrago reflects that the team is yet to get their acts and their plans in motion and full swing.
As also reported by our MLM crew, other members of the team are Max Cerchiari a Nigerian national, Joao Victor Silva a Brazilian, Francisco Barros, a Swede and Basit Ali Khan, a Pakistani.
Furthermore, a background check of the IDs reflected that none is bona fide. At least there is none with an authentic social profile. They are all bogus names.
Swindlers are rampant to an intractable magnitude on all social media platforms which prey on people promising them prodigious amounts of profits in return. People must be circumspect whenever approached or conducted by investment companies.
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