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.
