Crypto Scam Report

Reported by : cheater888, 12/01/2020

Votes: 3

Ronald Aai (CloudToken)
Tags:

Scam description
CLOUD TOKEN There is no transparency regarding the company, as not even 1 verifiable document of the company has been shown to the public that could be directly linked to the Cloud Token’s mentioned company at ASIC. Which means it could easily be a shell company. In fact, it probably is, as there actually is one a bit harder to find document on the internet with the ability to prove it. Seems like no one else has found it so far. Has anyone even ever seen the owner of Cloud Token? You can’t just google for a few days(even hours) and call it research. The company is completely unregulated in every jurisdiction. Securities are regulated all over the world and require registration with financial regulators. Any excuse in regards of operating in crypto space or conducting investments in out of the ordinary way is not a substitute for legally required regulatory registration. Also, financial regulatory compliance isn’t something you get around to after illegally collecting who knows how many millions in investment. You’re supposed to be registered prior to soliciting any investment. As Ronald Aai has only recently started talking about any kind of regulations and licenses(like CEZA), working on getting them Now does not negate the huge securities fraud that has already been done. The funny thing about CEZA is that unless they register a whole new shell company for it, they can in no way obtain it. They simply don’t match CEZA registration requirements, and if they actually tried to register, they will get caught with their previous illegal operations. As CEZA works with SEC, SEC would then also get involved - so US cloud tokeners.. watch out, might get prosecuted! A video does not and can not prove consistently profitable trading. Sadly people don’t even know the difference of order history and trade history, so far CT has only shown order history, which in an actual trader’s eyes looks like a joke, videos of order history and account balance are the most irrelevant things they can possibly show us. Also, there is no third-party verified track record of past results, which must be expected from any real trading/investing/prop firm. As of yet Cloud Token has not filed any audited accounting reports with ASIC, so there remains no verifiable proof the company is using external funds to pay affiliate investor returns - a proof of not being a ponzi. The “Jarvis AI”. A working automated trading system takes many years of work for the world’s best traders(possibly a decade for retail traders), and are Always based off of a manual system. A profitable algorithm can not be made by a random mathematician(unless he’s a successful trader as well), it can be made by an actual trader. If this AI system is real, there is no way it has no previous track record of any kind. Algorithms with such profitability would gain interest of the world’s biggest financial institutions, making offers up to hundreds of millions. A simple parabolic equation (represented in Business Proposal)is not something a professional trader would look to use in trading, not to mention that not one person knows who is that “math professor” who supposedly developed that “VAROOM algorithm”, and how? Where is his track record? Simply guessing the end of trend acceleration, while at the same time using it as a main indicator does not work, especially when it comes to lagging indicators. CTO has no blockchain. This should be there since the beginning, and it’s legitimacy should be verifiable, so that people wouldn’t later discover that it’s an imaginary blockchain (Example: OneCoin). Which means, so far, no one’s CTOs have been safe, as they don’t know whether they even own them. In fact, they don’t. Ronald Aai has previously taken CTOs off of people’s accounts by “fining” them. This makes you ask, what if he could do the same with your whole wallet? Chinese law enforcement recently busted 72 individuals connected to the Cloud Token (CTO) scam. The Ponzi was similar to the Plustoken fraud and CTO scammers made off with $500 million. According to regional press, the CTO scam artists are likely connected to the Plustoken swindlers. Moreover, after the Cloud Token arrests in China, police in Inner Mongolia warned the public about another MLM crypto project. In 2018, the cryptocurrency community was introduced to a project called Cloud Token. Similar to the Ponzi scheme Plustoken, CTO called itself the first online wallet that could integrate all the popular crypto assets out there today. The creators claimed CTO was a ‘4.0 blockchain project’ and the wallet held USDT, TUSD, BCH, CTO, BTC, LTC, ETH, and DOGE. Just like Plustoken, CTO promised 6-12% interest every month. The project was initially founded by the project’s lead developer Ronald Aai and project manager Daniel Csokas from Singapore. Nearly every article describing the Cloud Token project shows that the scam was tightly connected to the Plustoken creators. In June a report highlighted that the Cloud Token project had issues in Singapore so the MLM crypto scheme’s founders decided to relocate. Mauritius’ Financial Services Commission Warns the Public About Cloud Token After leaving Singapore, the publication behindmlm.com reported that the CTO project leaders retreated to Malaysia and the Republic of Mauritius. “In addition to committing securities fraud in the US, Cloud Token is also not registered to offer securities in Singapore or Malaysia,” behindmlm.com explained in June. The following September, Mauritius’ Financial Services Commission (FSC) issued a statement to the public telling people to beware of CTO: The public is being solicited by a certain group of people on social media under the name of ‘Cloud Token Mauritius’ and ‘Cloud Token Indian Ocean and Africa’ to invest in digital assets and cryptocurrencies through the ‘Cloud Token’ mobile application. It has also come to the attention of the FSC that events are being hosted in publicly accessible areas in Mauritius to promote this application. The FSC urges investors and the public to exercise caution in any dealings with Cloud Token Mauritius and Cloud Token Indian Ocean and Africa. An editorial published by the China-based publication 8btc explains that during its tenure, the CTO project got away with $500 million. An anonymous CTO victim told 8btc that they deposited $20,000 into the wallet. “The crypto scam stole over $500 million from unsuspecting holders, claiming it’s a decentralized wallet that would reward its users for holding coins,” the anonymous person stressed. “Payment was to be received in the form of the company’s utility token and the reward would be 6% to 10% of the invested coin amount. Meanwhile the man promising all these rewards vanished with funds from over 800,000 members wondering when and how they will get their initial investment back.”
Scammer type
Other
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CloudToken, Ronald Aai
CloudToken, Ronald Aai


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