According to Jan Kowalski post on Medium, a new Ponzi scheme might be underway!
A crypto staking app called StakedWallet is offering a daily 1.5% interest on users' investment. This platform is said to provide Proof-of-Stake investment opportunities whereby the longer users stake their funds, the higher their daily payouts will get.
Payouts on the StakedWallet platform begins with an interest of 0.6%/day and after nine months, it is increased to 1.5%. Payouts like this have been the trademark of past Ponzi schemes including the popular BitConnect scam that happened a couple of years ago.
Although the app has lots of positive feedbacks on some major platforms Trustpilot, Apple store and Google play store but upon taking a closer look, the feedbacks appeared to either be lacking in logic or too hazy.
One of the reviews on Trustpilot was posted on the 19th of April by someone named Gabriel Catalin saying the app had made him million of BTC. This is obviously not true because as of this moment, the total amount of BTC in circulation is just about 18.4 million.
Although the Stakedwallet application has managed to gather a lot of positive reviews, about 4% of the entire feedbacks were negative comments. Surprisingly, many of these negative reviews seemed to believe that this new app is like a reincarnation of the Westland Storage scam.
The Westland Storage was a Ponzi scheme that happened in 2018. Jan Kowalski believes that the same individuals who operated Westland Storage are also behind StakedWallet. Kowalski who also fell for the Westland Storage scam signed up for Staked Wallet and immediately began noticing the similarities. Both apps had a similar interface, the same bounty system as well as a similar in-house token.
According to a free SEO tool, within the last three months, traffic to the StakedWallet platform has surged from 72/mo to 437,000. All attempts to get in touch with the owners have been futile as the website doesn't have any ownership details.
Source: Cointelegraph
