The WorldOTC “click on a button” app Ponzi has collapsed.
WorldOTC withdrawals have been disabled, and an a “regulators!” exit-scam has been deployed.
WorldOTC’s collapse was preceded by a “free cash” promotion that ran for 3 days:
On or round August twenty fifth WorldOTC disabled withdrawals.
On August twenty seventh WorldOTC trotted out its exit-scam ruse:
WorldOTC is present process a legality verify by the FBI. We’re presently cooperating with the FBI on the investigation.
We apologize for any inconvenience brought about to you.
After every week, we shall be confirmed as a professional firm and proceed to function.
Our tax concern is underneath investigation andn withdrawals are usually not accessible.
Belief WOTC. In every week, we may have a greater tomorrow.
That is in fact all nonsense. The FBI don’t conduct “legality checks”. Not withstanding precise regulatory investigations, be they tax associated or in any other case, take a hell of rather a lot longer than every week to hold out.
In the present day marks seven days since WorldOTC collapsed. There have been no additional updates.
Whereas the overall variety of WorldOTC victims is unknown, SimilarWeb ranks prime sources of site visitors to WorldOTC’s web site as Vietnam (38%) and Spain (31%).
How a lot WorldOTC traders collectively misplaced is unclear.
WorldOTC is a “click on a button” app Ponzi. The scams started in late 2021, with dozens of rebrandings launched since.
Whereas “click on a button” app Ponzis are sometimes localized to focus on particular populations, Chinese language scammers are believed to be behind the overwhelming majority of them.
