Scam Alert - Troninvesting

in #hive-1679223 months ago

I had experimented with Troninvesting.

I did a couple of posts about it and I had never encouraged anyone to join but highlighted the high risk of it.

I actually invested my past profit so you can say that it was spare money that I had earned online.

Never invest with money that you cannot afford to lose especially with this sort of unrealistic profit without a solid product to generate income.

Imagine that it has no product to generate income and yet it gives you a high interest of 19% for 7 days. It is an unrealistic profit so it is basically using investment of other investors to reward those who joined earlier.

Below is the calculator on its site that provides the kind of unrealistic profit that one can get.

Troninvesting.PNG
Image Source

Some mentioned that our investment is locked in a smart contract so it is safe but I have learnt that we still lose our investment if this smart contract has no more money in the pool.

From the table below that I extracted from tronscan, we can see how well this smart contract of troninvesting was doing. It was at its peak around 24 July to 26 July which was actually last week.

Troninvesting smart contract balance.PNG
Image Source

This smart contract went down daily until reaching almost zero about two days ago.

Troninvesting has only started around 16 July which only lasted for two weeks.

Before I made my investment, I saw quite a number of promotional videos on youtube.


Video Source

If you do not see any video above, I guess the promoters may have taken them down since they realised it was a scam.

Most promoters did not warn their viewers or readers about the danger and risk but accredited troninvesting with trusted developers and may even highlight that investment was protected by smart contract.

As there is a referral system so these promoters are mainly trying to gain referral bonus out of the pockets of others.

I am quite sure most people would simply identify this as a scam but there are a few like this sort of system that are still around since last year like Bankroll and Bank of Tron which are still paying at the point of my post. (They may also disappear in future since the profit is also unrealistic)

We should never simply believe what others are saying without investigating ourselves and we should also never invest money that we cannot afford to lose.

I am quite aware of the risk before investing so I guess it did not come as a big surprise like other investors who promoted with 100% confidence.

When we invest in things that we know that is extremely risky and could even be a scam, we should never aggressively invite others to join without warning them about the fact that they may lose everything even though the profit is high.

There are simply too many scams around so experienced investors would have their strong signal when the profit does not make sense.

I do hope you find this post useful if you ever think of investing in such quick-profit programme - think twice or thrice.

Don’t invest if you cannot afford to lose it in the end.

Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.

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So this is trons version of those ETH Ponzi scheme smart contracts like PW3D and those? Gosh there’s going to be plenty more with this buzz around de-fi people are going to get suckered into these things

As the quick profit is so attractive so many would invest. At the start, it did pay but it cannot sustain for long.