A cryptocurrency staking app which affords 1.5% each day returns is likely to be a Ponzi scheme associated to at least one that exit-scammed two years in the past.
A cryptocurrency staking pockets that provides customers as a lot as 1.5% each day returns is bearing putting resemblance to a Ponzi scheme.
That’s in response to a Medium article revealed on April 19 by Jan Kowalski which warns readers to keep away from an app referred to as StakedWallet. The web site affords Proof-of-Stake “funding alternatives” whereby the consumer’s each day payout will increase the longer they hold their funds staked.
Staking payouts start at 0.6% per day, and improve to 1.5% after 9 months. Seemingly easy each day returns reminiscent of these have been a trademark of just about all well-known cryptocurrency scams previously, together with the notorious BitConnect.
At first look the app seems to have overwhelmingly constructive opinions on each Google Play and the App Retailer, in addition to Trustpilot. Nonetheless, nearer inspection of the opinions reveals them to be both extremely obscure, or missing in logic.
One Gabriel Cătălin Baltac wrote on Trustpilot on April 19 that he had already made “tens of millions of bitcoins” utilizing the app:
Nice app i’ve made tens of millions of bitcoins utilizing this thanks!
As of press time, complete provide of BTC is roughly 18.34 million.
Return of Westland Storage?
Of the 945 opinions left on Trustpilot, simply 4% fall beneath the ‘unhealthy’ class, whereas 93% are both ‘wonderful’ or ‘nice’. Nonetheless, lots of the unhealthy opinions echo an analogous sentiment – they usually additionally make point out of ‘Westland Storage’:
All of try to be arrested. I’m following and you will note the consequence. I’ll see all of you beneath arrest. Solely approach is you refund me. Pay my a refund scammer. You thieves from westland storage and now stakedwallet.io have rubbed my 10 LTC. Pay it again…
Kowalski’s article additionally mentions Westland Storage — a defunct cryptocurrency Ponzi scheme that exit-scammed in late 2018. Certainly, Kowalski claims that the operators of Westland Storage are the identical folks working StakedWallet right now.
His article attracts consideration to similarities between StakedWallet’s web site and that of Westland Storage, seen beneath. Kowalksi additionally notes similarities within the consumer interface of each cellular apps, whereas the in-app token, SWL, is a slight rearrangement of Westland Storage’s WSL token.
