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- Is It A Scam?
Cloud token scam is nothing more than an illegal Ponzi Scam. There are so many red flags here. It is not a secure crypto currency wallet, they are not trading, and they are telling lies to gullible investors.
Cloud Token Scam – 10 Reasons Why It’s A Scam
1. It’s not a real decentralized crypto currency wallet.
It’s not even a real wallet at all, you only get access to web server where you see your tokens. Cloud token is a Erc20 token on the Etherium blockchain. Here is the CloudToken CTO token tracker from Etherscan: https://etherscan.io/token/0x64c7da318530f02f36225107786ab6963bf6add8
You can clearly see there is only 4 addresses and at the time of writing this article and there has only been 5 transactions total. One of the addresses holds 99.99% of all the CTO tokens totaling 999,999,000 tokens. So when you buy this scam token, you are giving them real money or crypto currency for AIR and you do not even own the tokens!
2. Promoted by Serial Scammers
Ponzi pushers that are notorious for promoting scams such as: Simon Stepsys, Ankur Agarwal, Luigi Bruni, Justin Halladay, Faith Sloan, Peter Ohanyan, Matt Feast, Wayne Look, Vitaliy Dubinin, Sal Khan, Michael Colucci, Carl Haavaldsen, Sharon James and many more are pushing the CloudToken Wallet Scam.
These people are all scammers and do not care that it is a Ponzi, they only care about getting paid commissions to recruit you into these scams, they are greedy, immoral and completely lack integrity.
3. No proof or trading with Jarvis
They claim they generate ROI using the Jarvis AI Bot that does arbitrage trading on various crypto currency exchanges. There has been no proof of this trading, all-though it would be very easy to show trade logs from any exchange as evidence. We all know is just a ponzi scheme, the money (ROI) comes from recruitment only. Eventually it will crash and burn.
If Jarvis is trading your crypto for you and providing a return or profits on those trades, then where are the transactions or the records? Jarvis would have to access your wallet and your funds (transaction), deposit on the exchange (transaction), trade on the exchange (transaction), and then deposit said profits back into your wallet (transaction). Multiple transactions would have to happen in order for this Jarvis Bot to work, but the reality is that Jarvis AI Bot is fake and CloudToken is not doing any arbitrage trading at all.
4. It’s a Crypto Currency Ponzi MLM
If you want to participate in the referral side or MLM side of CloudToken, you have to invest a minimum of $500 in order for you to get paid commissions for recruiting others into the scam. CloudToken pays commissions up to 21 levels deep. This will not be sustainable and proves its a heavily recruitment based mlm ponzi scheme.
5. No solid team or tech innovation
Cloudtoken is an Erc20 token of no real world use. They’re not even using it to power the app. It’s all artificial demand. The company can decide the value at anytime to what they want to soak up money from gullible investors and promoters like a sponge.
6. No Access to Private Keys of CTO Wallet
Cloudtoken does give you your own private keys to your so called “wallet”. They only give you a password or a 6 digit pin. No private keys or pass phrases are given. CTO has had only 5 transactions with 1 address holding majority. You can view them here… This is the address given on their website FAQ. https://etherscan.io/token/0x64c7da318530f02f36225107786ab6963bf6add8 CTO is not being distributed, and real transactions are not taking place since transactions cost gas. Probably software or web interface that is just showing balances that are not reflected on the blockchain.
7. Promise of ROI
Anything that promises a ROI is usually a scam, unless they are registered and regulated. Do not fall for this passive ROI bullshit mlm ponzi garbage.
8. Just another Ponzi Coin
Cloudtoken will never be listed on a real crypto currency exchange or an public exchange with decent volume. And they also admit they have no plans to either. They will maintain CTO exchange internally so they can control pricing, more proof of a scam. It’s just another typical Pump and Dump ponzi coin.
9. CloudToken White Paper
CloudToken’s white paper riddled with lies. Mentioning several names with out permission who have no involvement what so ever. And any Whitepaper names mentioned have no real credit in blockchain space. White paper has since been taken down from their website, they state they will have a new one released soon.
10. Cloud Token Scam – It’s an illegal Ponzi Investment Scheme
Cloudtoken Wallet is nothing more than an illegal Ponzi Scam. There are so many red flags here. It is not a secure crypto currency wallet, they are not trading, and they are telling lies to gullible investors. Ponzi promoters know it’s a scam, but they do not care, they only care about getting paid commissions for recruiting people.
Please do not invest in the Cloud Token Wallet Scam, unless you want to lose your money.
See my original post here: Cloud Token Wallet Scam Beware