RoboFi is your typical buying and selling bot cryptocurrency Ponzi scheme.
The scammers behind the Torq Buying and selling and Snapbots Ponzi schemes are again with one other rip-off.
As a substitute of utilizing their precise firm title, RoboFi’s web site states the corporate is “powered by Snapbots Restricted”.
Launched in 2018, SnapBots was Snap Improvements’ precursor Ponzi previous to Torq Buying and selling.
Past that, RoboFi offers no details about who owns or runs the corporate on its web site.
For that it’s a must to dig up the corporate’s unique “lite paper”:
Enjoyable reality, RoboFi changed their lite paper with a stripped down model in some unspecified time in the future. RoboFi edited down its lite paper from thirty-four pages to simply fifteen.
Ting Shang Ping and the gang aren’t featured within the up to date lite paper.
Ting Shang Ping owns Snap Improvements. He and Bernard Ong have been behind the Torq Buying and selling Ponzi scheme.
Torque Buying and selling launched in late 2019. It was a easy crypto buying and selling bot Ponzi scheme, run by way of TORQ Ponzi factors.
Though Torque Buying and selling was launched underneath Snap Improvements, after it collapsed Snap Improvements and Ping sought to distance themselves from the rip-off.
Ting Shang Ping even filed a bogus DMCA to cover BehindMLM’s protection of his fraud.
RoboFi sees Snap Improvements and Ping return for an additional chunk on the crypto funding fraud apple.
In RoboFi, traders put money into crypto buying and selling bots. RoboFi is launching their bots as advertising occasions, coining the time period IBO (“preliminary bot providing”).
RoboFi is constructed round VICS, a BEP-20 token that might’ve taken Snap Improvements 5 minutes to arrange.
VICS was launched in late 2021. Relatively than pump, it flatlined till RoboFi promotion kicked off round November. This noticed early traders money out.
Suckers who make investments and take part in RoboFi, have their tokens locked for 12 months.
Funnily sufficient if we zoom in on VICS buying and selling charts, we will see the tell-tale indicators of bot manipulation.
Wash buying and selling VICS is probably going the one buying and selling Snap Improvements and RoboFi are engaged in.
Past that RoboFi is identical “passive revenue” Ponzi you’ve count on from serial scammers.
RoboFi doesn’t have an MLM part. So past recording Snap Improvements and Ping launching a brand new rip-off, I seemingly gained’t be following it.
I’ll end up by noting neither Snap Improvements, RoboFi or Ting Shang Ping are registered to supply securities in any jurisdiction.
Make no mistake, even with out an MLM part passive crypto funding schemes are nonetheless thought of securities.
Ping is committing securities fraud by providing passive returns by way of RoboFi.
Anybody considering of investing in RoboFi would do nicely to learn up on Snap Improvements’ Torque Buying and selling mess.