WoToken’s web site gives no details about who owns or runs the enterprise.
The WoToken web site area (“wotoken.professional”) was registered utilizing bogus particulars on September sixteenth, 2018.
WoToken advertising and marketing materials suggests the corporate has ties to Hong Kong.
Replace twenty seventh June 2019 – A advertising and marketing video shot by the Asia Blockchain Assessment web site earlier this yr options an interview with WoToken’s founder.
The video was purportedly filmed in Hong Kong earlier this yr and options Edward Wu as founding father of WoToken and CEO of 1WorldBlockchain.
1WorldBlockchain claims to be a banking various.
1WB performs the fundamental features required for environment friendly switch of all sorts of Cross border funds into blockchain expertise utilizing good contracts execution mechanism.
Edward Wu is credited as “Edward Ng” on the 1WorldBlockchain web site. He additionally makes use of this title on LinkedIn.
1WorldBlockchain’s web site area was first registered in 2016. The registration was final up to date in January 2019.
An outdated copy of 1WorldBlockchain’s web site reveals the corporate operated out of Nanshan District, Shenzhen in China.
So far as I can inform 1WorldBlockchain exists as we speak for no different objective than to create smoke and mirrors round WoToken. /finish replace
As at all times, if an MLM firm shouldn’t be overtly upfront about who’s operating or owns it, suppose lengthy and exhausting about becoming a member of and/or handing over any cash.
WoToken Merchandise
WoToken has no retailable services or products, with associates solely capable of market WoToken affiliate membership itself.
The WoToken Compensation Plan
WoToken associates make investments funds on the promise of marketed returns.
- put money into $1000 value of WOR tokens and obtain a 0.25% to 0.5% day by day ROI
- put money into $5000 value of WOR tokens and obtain a 0.3% to 0.65% day by day ROI
Associates put money into WOR tokens by means of the WoToken app.
WOR tokens are created by WoToken on demand and haven’t any worth exterior of WoToken itself.
All returns and commissions inside WoToken are paid in WOR tokens.
Referral Commissions
WoToken pays referral commissions on WOR returns paid to downline associates.
WoToken pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned immediately below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
What number of ranges a WoToken affiliate grows their unilevel crew to determines their referral fee charges.
- one stage deep unilevel crew = 50% referral fee on stage 1 (personally recruited associates)
- two stage deep unilevel crew = 80% on stage 1 and 50% on stage 2
- three stage deep unilevel crew = 80% on stage 1, 50% on stage 2 and 30% on stage 3
- 4 stage deep unilevel crew = 100% on stage 1, 50% on stage 2, 30% on stage 3 and 10% on ranges 4 to 10
- 5 stage deep unilevel crew = 100% on stage 1, 50% on stage 2, 30% on stage 3, 10% on ranges 4 to 10 and 5% on ranges 11 to fifteen
Appollo Ranges
Satisfying Apollo Degree qualification standards permits WoToken associates to earn referral commissions past stage 15 of their unilevel crew.
- Degree 1 – generate $250,000 in downline WOR token ROI quantity and obtain 5% referral commissions from stage 15 to infinity
- Degree 2 – personally recruit thee Degree 1 associates and obtain 10% referral commissions from stage 11 to infinity
- Degree 3 – personally recruit a minimum of three Degree 2 associates and obtain 15% referral commissions from stage 11 to infinity
- Degree 4 – personally recruit a minimum of three Degree 3 associates and obtain 20% referral commissions from stage 11 to infinity
Becoming a member of WoToken
WoToken affiliate membership is free.
To take part within the connected MLM earnings alternative, a minimal $1000 funding in WOR tokens is required.
Conclusion
WoToken marks a departure from Telegram Ponzi bots to app-based Ponzi bots.
That is carried out below the ruse of growing decentralized app expertise (dapps), however in actuality is simply one other platform to commit Ponzi fraud by means of.
WOR tokens are generated by WoToken at little to no price. They’re flogged off to gullible WoToken buyers, at no matter inside worth the corporate has set on the time.
WoToken don’t publish the present inside WOR token worth.
Whereas investing and returns are dealt with by means of WoToken’s app, returns are realized by means of the Neraex alternate.
Neraex is a failed Japanese crypto alternate that was not too long ago repurposed to create the phantasm of public WOR buying and selling.
On Neraex WoToken associates can promote their WOR tokens to different WoToken associates, thus realizing promised returns by means of WoToken’s app.
That is in fact Ponzi fraud, as newly invested funds are getting used to pay present buyers.
Including to that you’ve pyramid fraud, by the use of referral commissions paid out on recruitment of recent buyers.
Securities fraud can also be current, as neither WoToken or Neraex are registered to supply securities in any jurisdiction they solicit funding in.
By now try to be accustomed to the MLM cryptocurrency exit-scam mannequin.
Each time whoever is operating WoToken decides they’ve stolen sufficient cash or investor recruitment collapses, they’ll announce WOR’s public itemizing.
This can presumably provoke on Neraex however might later be expanded to different dodgy exchanges.
Throughout the preliminary public itemizing hype pump, WoToken’s admin(s) will additional dump as many pre-generated WOR tokens as they will.
After the preliminary pump they then do a runner. This leaves duped WoToken bagholders left to observe their nugatory WOR tokens dump to $0.
Each MLM cryptocurrency scheme has adopted this trajectory. WoToken will probably be no completely different.
Replace third December 2020 – Chinese language authorities have arrested and jailed WoToken’s 4 co-founders.