Cloud Token collapsed in October 2019, has drafted new contracts that could see its investors lose more money as opposed to being reimbursed. It turned out that this project was another Ponzi in the cryptocurrency industry that followed payout defaults last year as specified in their agreement with investors.
Under the terms of the contract, launched yesterday via the Cloud Token app, investors now may leave the company and withdraw money. However, the interesting thing is that they will only get back their initial investment.
This contract makes it clear that CTO returns based on reinvestments will not be part of the agreement with the investors. It is worth noting that CTO conversions made through Backoffice face a similar fate as per the new contract. They can not dollar for dollar payout generated CTO’s, because most of them are made out of thin air. The actual money used to invest in the original CTO package was exhausted months ago.
And if you’ve converted your CTO into something else via the Cloud Token backoffice, congratulations; You have the number on the screen, but the money does not exist.
Moreover, Ronald Ai, Administrator of Cloud Token, fled in early December 2019. He also disappeared from social media platforms causing stakeholders to speculate that
Cloud Token is actually another MLM cryptocurrency scam. Ronald AI and the gang will return your initial investment. Or you agree to give them another six months to pay you the imaginary interest.
Investors who choose to sign this new contract with Cloud Tokens will be locked in for another half year before the obligations are fulfilled.
What is Cloud Token?
Cloud Token is the first electronic wallet in the world to integrate all cryptocurrencies on the same Blockchain network. They want to create an ecosystem, including an electronic wallet using Blockchain 4.0, the most advanced today, along with a fully mobile payment system through the Cloud Token wallet. Like BitConnect or Plus Token, Cloud Token also works on the same multi-level marketing technique with a high referral fee.
This Ponzi project also works as the Token Plus. This is a wallet that promises to pay dividends according to the token holding ratio of the customer. Cloud Token focuses mainly on the markets of China, Korea, Singapore, Malaysia, Japan, Vietnam and Indonesia.
Read more:
- After The Cloud Token Arrests In China, Another MLM Crypto Project Continues To Emerge
- Cloud Token Exit-Scam And WoToken Are Both Under Investigation By The BC Canada