Cloud Token’s web site gives no details about who owns or runs the corporate.
The Cloud Token web site area (“cloudtokenwallet.com”) was privately registered on January twenty seventh, 2019.
Advertising and marketing movies on the Cloud Token web site are offered in Chinese language. The movies themselves function a person talking Chinese language.
In a single advertising video, Sheng Zhao and Simon Tran are offered as “huge names behind Cloud Token”.
Only a observe on the picture itself, it was taken at a World BlockChain Discussion board occasion.
Sheng Zhao (aka Zhao Sheng) is among the World Blockchain Discussion board’s co-founders.
In one other advertising video, the next picture is offered as Cloud Token’s “prelaunch in China”.
The occasion was purportedly held in China a couple of weeks in the past.
The 2 folks credited in English within the picture are Ronald Aai and Daniel Csokas. Sheng Zhao stands to the appropriate of Csokas (heart)
Ronald Aai (proper) is predicated out of Singapore and is a type of random folks you see listed in crypto whitepapers.
Formally Aai credit himself as a cryptocurrency guide, specializing in platform design.
So far as I can inform, not one of the crypto initiatives Aai has related himself with have gone wherever.
Daniel Csokas (proper) can be primarily based out of Singapore and seems to be an MLM crypto freshman.
On his private Twitter profile, Csokas cites himself as an “natural chemist primarily based in Singapore”.
Sheng Zhao seems to be hooked up to the Plus Token Ponzi scheme by means of World Blockchain Discussion board.
Plus Token was promoted to attendees of a World Blockchain Discussion board occasion held final September.
Within the advertising video the primary screenshot above was taken from, Tran (proper) is credited with “bringing Cloud Token to North America”.
Tran himself is predicated out of Toronto, Canada. Previous to Cloud Token Tran was selling Plus Token.
Earlier than he obtained into cryptocurrency scamming (mid to late 2018), Tran was selling Enagic’s Kagen water filters.
As all the time, if an MLM firm is just not overtly upfront about who’s working or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.
Cloud Token Merchandise
Cloud Token has no retailable services or products, with associates solely in a position to market Cloud Token affiliate membership itself.
The Cloud Token Compensation Plan
Cloud Token associates make investments $500 or extra in CTO tokens, on the promise of an “common 10-15% per 30 days” ROI.
Commissions are paid when Cloud Token associates recruit others who do the identical.
Cloud Token pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel workforce, with each personally recruited affiliate positioned instantly underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
What number of unilevel workforce ranges a Cloud Token affiliate earns referral commissions on is set by what number of affiliate buyers they’ve recruited.
- recruit one affiliate investor to unlock degree 1
- recruit two affiliate buyers to unlock degree 2
- recruit three affiliate buyers to unlock degree 3
- recruit 4 affiliate buyers to unlock degree 4
- recruit 5 affiliate buyers to unlock degree 5
- recruit six affiliate buyers to unlock degree 6
- recruit seven affiliate buyers to unlock degree 7
- recruit eight affiliate buyers to unlock degree 8
- recruit 9 affiliate buyers to unlock degree 9
- recruit ten affiliate buyers to unlock degree 10
- recruit sixteen affiliate buyers to unlock ranges 11 to 21
Referral commissions are paid out as a proportion match of day by day returns paid to unilevel workforce associates:
- degree 1 (personally recruited associates) – 100% CTO ROI match
- degree 2 – 50% CTO ROI match
- ranges 3 to 21 – 5% CTO ROI match
Notice that referral commissions are paid in CTO.
Rank Fee Bonus
Cloud Token increase their referral fee by an extra 5% after they generate $200,000 in unilevel workforce funding quantity.
This additionally qualifies them as a C1, which is used to calculate generational bonuses (see beneath).
Technology Bonus
Cloud Token defines a era throughout the unilevel workforce when an affiliate on the similar or larger rank is present in a unilevel workforce leg.
This affiliate caps off the primary era for that leg.
The Technology Bonus is paid on ROIs acquired in that first era (up till the C1 or larger ranked affiliate).
Utilizing this generational construction, Cloud Token pays a 5% Technology Bonus.
- C1 associates obtain the Technology Bonus up till a C1 or larger ranked affiliate is present in a unilevel workforce leg
- C2 associates should generate three C1 associates every in separate unilevel workforce legs, and obtain the Technology Bonus up till a C2 or larger ranked affiliate is present in a unilevel workforce leg
- C3 associates should generate three C2 associates every in separate unilevel workforce legs, and obtain the Technology Bonus up till a C3 or larger ranked affiliate is present in a unilevel workforce leg
- C4 associates should generate three C3 associates every in separate unilevel workforce legs, and obtain the Technology Bonus up till a C4 or larger ranked affiliate is present in a unilevel workforce leg
There’s an extra C5 rank (see beneath), however they obtain no further Technology Bonus past C4.
Income Share
To qualify as a C5, a Cloud Token affiliate should generate three C4 associates every in separate unilevel workforce legs.
As a C5, a Cloud Token affiliate receives an extra 5% income share on company-wide funding quantity.
Becoming a member of Cloud Token
Cloud Token affiliate membership is free.
Participation within the hooked up revenue alternative nevertheless requires a minimal $500 funding.
Conclusion
Cellular app primarily based Ponzi schemes appear to be taste of the month for the MLM crypto area of interest.
Since late final yr we’ve seen the launch of Plus Token, Tremendous CodingFly (SCF Token) and WoToken.
Cloud Token is extra of the identical.
Every of those app token scams is hooked up to a nugatory altcoin. On this occasion it’s Cloud Token (CTO).
CTO is generated at little to no price. As on the time of publication, it’s being unloaded onto Cloud Token affiliate buyers for 30 cents a pop.
Via their app, Cloud Token raises the interior worth of CTO, which in flip permits associates to money out.
By cashing out, Cloud Token associates are paid from subsequently invested funds.
In a nutshell, you join as Cloud Token affiliate and make investments.
Your funding is stolen by present Cloud Token associates. You then steal cash invested by those that be a part of after you.
Those that get in early and promote scams like Cloud Token are aware of how they work.
Lots of people made a FORTUNE with PlusToken… now it’s YOUR time and MY TIME to do it with one other Decentralized Crypto Pockets… That pays us for HODL our Crypto.
Cloud Token claims to generate exterior ROI income by means of their Jarvis AI bot.
The bot supposedly engages in arbitrate (cue eye rolling), however there isn’t any proof of exterior income getting used to pay associates.
The one verifiable income getting into Cloud Token is new funding.
For the extraordinarily gullible on the market who to take Cloud Tokens’ Jarvis AI bot claims at face worth (a horrible concept), the corporate on the very least is committing securities fraud.
By advantage of soliciting funding on the promise of a passive return, Cloud Token’s enterprise mannequin is a securities providing.
Cloud Token is just not registered to supply securities in any jurisdiction it operates in, which means the corporate is working illegally no matter whether or not Jarvis AI is bullshit or not (it’s).
Early Cloud Token buyers construct their CTO stability by direct funding and convincing others to speculate.
The are in a position to withdraw the vast majority of invested funds, on account of their CTO balances being replenished by their unilevel workforce.
Keep in mind, Cloud Token returns aren’t paid in actual cash – they’re paid in nugatory CTO.
Associates can solely money out CTO for so long as admins enable. As soon as an funding reserve threshold is reached, they do a runner (and evidently launch a brand new crypto token rip-off).
Cloud Token and the remainder of the cell app Ponzis signify the continued decline of the MLM crypto area of interest.
Summed up, they’re nothing greater than a brand new supply platform for a similar outdated Ponzi rip-off.
Replace ninth October 2019 – Since publication of this evaluate Cloud Token has added an unlicensed lottery they’re calling Rogue.