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Ecoin Plus, a scheme offering investors payouts for Bitcoin ‘investments,’ has shut down with funds at large.
Bitcoin scams and frauds
Bitcoin Scams, Scam, Onecoin, Ponzi
Alleged Bitcoin investment scheme Ecoin Plus has disappeared and closed its website, leaving investors with nothing.
Known variously as Ecoin Plus and empowercoin.com, the tool touted annual returns on submitted Bitcoin investments which increased according to how many coins were contributed.
No information is available from developers, with the project keeping a low profile throughout its existence.
“It would seem that Ecoin Plus doesn't want anyone to know who they are or what is really going on behind the scenes of this Bitcoin community,” a quasi "review" on news resource Players Money states.
In a manner similar to assumed Ponzi scheme OneCoin, Ecoin Plus offered so-called “packages” with differing rates of return.
No product or service was available, and no proof of funds handling or security was made public.
“It would seem that Ecoin Plus is the way to go to make money from Bitcoin. After all, the site states that they mine the Bitcoins so that you win in the long run,” Players Money continues, adding that it found “major red flags” while assessing the now-defunct website.
As recently as a week ago, however, Ecoin Plus was uploading promotional material in which various “users” reported receiving thousands of dollars in dividends.
Cointelegraph reminds readers to always thoroughly research purported investment opportunities prior to sending any funds. If it sounds too good to be true, in cryptocurrency, it is!
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