Public Warned Cryptocurrency Investments Including E-creator, Are Likely Scams

4 months ago
Tue, 23 May 2023 09:42:46 GMT
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Public Warned Cryptocurrency Investments Including E-creator, Are Likely Scams

Organizations promising to double cryptocurrency investments monthly, including E-creator, are likely scams, according to Techzim. Doubtful claims and lack of delivery warrant caution from potential investors.

Here is what you need to know:

  • This practice is unethical and illegal in many countries.
  • E-creator offers unrealistic returns to members who must post 10 fake reviews daily, promising roughly 100% of their principal in commissions each month.
  • Members must deposit money with E-creator and maintain that balance to receive the promised commissions.
  • E-creator has failed to explain why they require deposits, and they are not licensed to take deposits by the RBZ.
  • It is advisable to stay away from E-creator to avoid being scammed.

Red flags of a scam may include:

  • The organization is not registered with any government agency.
  • The organization lacks a physical address or phone number for contact.
  • The highest-level executives and owners of the organization are anonymous.
  • The organization’s website is poorly designed or contains grammatical errors.
  • The organization is offering unrealistic returns on investment.

So, how does E-creator fare?

E-creator, a Zimbabwean company, raises red flags about its legitimacy, including a misspelt URL, lack of contact number, and app resemblance to a Nigerian firm with withdrawal issues. The promised monthly doubling of investments is unrealistic, and potential investors should weigh these factors carefully.

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E for Effort

E-creator’s credibility is in doubt due to a misspelt web address, affiliation with Amita, and unrealistic promises. It is essential to hear their perspective and understand their business before drawing conclusions about their legitimacy.

What does E-creator do?

E-creator claims to make money by reviewing products and earning daily commissions, without selling any products themselves. Their business involves gathering people to rate products on e-commerce platforms, but it is unclear how this generates high returns.

Paid/ Fake reviews

E-creator recruits people to post fake reviews on e-commerce sites, which is unethical and illegal in many countries. They claim to be paid for it but cannot offer a 100% return to each member. E-creator requires a deposit to join, though the purpose is unclear.

This is how it works:

E-creator offers commissions to members for posting fake reviews on e-commerce sites, requiring a deposit for higher commissions and bonuses for recruiting others. Members must maintain a minimum balance and post 10 fake reviews per day to remain in the program.

This is a scam

E-creator’s business model of posting fake reviews is illegal and could lead to legal action. Zimbabwe’s Consumer Protection Act prohibits false statements about products and services. E-creator’s deposit-taking may also be in contravention of Zimbabwean law, but the RBZ has yet to respond.

Stay away

E-creator’s handling of deposits is unclear, and they may be using new recruits’ deposits to pay out withdrawals in a pyramid scheme. The fraudulent and illegal practice of posting fake reviews means there is no reason to deposit money with E-creator. It is essential to raise awareness and shut down the company to prevent further victimization.

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