The Eclipcity Global Ponzi scheme has collapsed. Owner Andreas Kartrud is yet to publicly acknowledge the collapse.
For details we instead turn to Ponzi veteran T. LeMont Silver.
Silver (right) made a name for himself as a Zeek Rewards net-winner back in 2011. As per filed clawback litigation, Silver stole over a million dollars from Zeek victims.
After the SEC shut down Zeek Rewards in 2012, Silver uprooted his family and fled to the Dominican Republic.
There he doubled down on gaining Ponzi notoriety with BitClub Network.
We last came across Silver in late 2019 pushing 3 to 5 Years, a short-lived forex scam.
About six months ago Silver debuted on YouTube as “The Professor”.
As The Professor, Silver has been promoting various MLM crypto scams. The latest of which was Kartrud’s Eclipcity Global.
Via a video uploaded by Silver on March 16th, we can confirm Eclipcity Global’s collapse.
Breaking news from Andreas
We can all see that the balance is declining rapidly. We can all see that the members joining is decreasing as well and we can all see that turning this around will be nearly impossible.
For those unfamiliar with Andreas Kartrud’s brand of smart-contract Ponzi schemes, it started with EtherChain back in June 2020.
A smart-contract balance being drained is inevitable. The “balance” is invested funds, which over time early investors withdraw.
Recruitment in MLM Ponzi schemes inevitably declines, meaning the balance runs at a deficit as early investors continue to deplete it.
This is your standard inevitable Ponzi collapse playing out.
Despite nobody being able to control them being pushed as a major marketing point for smart-contract Ponzi schemes, Kartrud (right) goes on to announce he’s shutting Eclipcity Global down.
We are going to close Eclipcity Global, destroy the contract and move all funds into the insurance contract of Eclipcity Global.
Those who are in loss, meaning they have not yet receive(d) 100% of their total deposit will be able to claim 1% daily from the insurance contract until they have gotten their 100% back.
If you’re wondering what the “insurance fund” is, it’s simple a small balance set aside of invested funds.
When TronChain collapsed Kartrud promised investors would be made whole through an insurance fund – fueled by Eclipcity Global investment.
At the end of the day all Kartrud is doing is juggling a finite balance of invested funds. Math guarantees that as long as there are Eclipcity Global net-winners, the majority of investors cannot recover their losses.
As I understand it this is how TronChain played out, despite the insurance contract promises. Naturally this is how Eclipcity Global will also play out.
And it’s bad enough promising your victims an impossible 100% recovery. After radio silence for two weeks, Kartrud appeared in a March 19th video to announce a 120% insurance fund recovery.
Where is the money coming from? *crickets*
Tellingly, Kartrud has disabled comments on his impossible 120% recovery video.
Looking forward, Kartrud has announced;
We will NOT start a new MLM, this is not the way to go as we have found out.
Instead of trying to manage an MLM where the return is based on other member’s deposits, we continue with real products and services that actually generate revenue rather then what Eclipcity Global is doing now.
So basically Eclipcity Global will stop. Those who have not yet received 100% will be getting that back through the insurance and that’s it.
Alexa traffic analysis of Eclipcity Global’s website suggests the majority of its victims are based in the US, Canada and Russia.
Based on his recent Facebook posts Kartrud is busy shilling UME and EFT, two shit tokens he seems to have had a hand in creating.
T LeMont Silver is falling back on a forex trading deal he’s promoting through his Cash Flow Club marketing group.