Is Cloud Token a Scam? Top 6 Red Flags - WATCH THIS ASAP!!!
Correction: They did have a kick-off event, but the 2.0 app was still advertising tickets for the event the day after. There is also no news coverage of the event (schemes do not like news coverage).
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Cloud Token is a decentralized wallet platform that claims to give users 6-12% return on investment through a crypto robo trader called JARVIS AI. They include a large multi level marketing referral program, with some pretty crazy incentives (see video).
My experience testing the app out was far from smooth: Funds take forever to move around, there are a million hoops to jump through in order to participate, and withdraw your crypto, and the app is very poorly made.
Additionally, Ronald Aai's remarks and interviews leave me feeling less and less confident to trust his "robot" with my crypto and money. • Video
Also, Faith Sloan (a recently fined Ponzi Schemer) is heavily involved in this project.
Top 6 Red Flags ( Cloud Token is a Scam ):
1. Long Withdraw time (hoops to jump through). Cloud Token mimics Plus Token's dangerously convincing ponzi scheme.
2. CTO is Required to retrieve crypto (this doesn't make ANY sense why they require gas and CTO). Also, CTO has only 5 transactions on etherscan: https://etherscan.io/token/0x64c7da31...
3. 10% fee of YOUR WHOLE DEPOSIT (not just rewards earned) to withdraw “early” (30 days minimum).
4. Faith Sloan — Known Ponzi Schemer https://vimeo.com/336755656
5. MLM (Multi Level Marketing) breakdown claiming high rewards (too good to be true).
6. 2.0 App has no new features, and is almost identical to 1.0. This is a classic "look what's coming" tactic, to entice "investors" through a natural human instinct: greed (we all feel it sometimes, but don't fall for this).
Also...the White Paper (read section 09): https://docs.wixstatic.com/ugd/ecbba9...
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