WoToken Review: App-Based Ponzi Bot

WoToken has used app based Ponzi bot to scam investors in the pretense of developing decentralized app technology. However, the platform is yet another Ponzi Scheme setup.
WoToken Review: App-Based Ponzi Bot
3 (60%) 5 vote[s]

I had a hard luck finding the names of the owners of WoToken as there is no mention of any names associated with the company on their website. Moreover, the domain (wotoken.pro) was also registered privately leaving no trail to find the name of the domain owner. As per the ‘WHO IS’ search result, the domain was registered on 16th September 2018.

There is not much information about the formation and other details of the company. However, the marketing material points Hong Kong as the probable country to have ties with the company.

The company does not have any products or services apart from the affiliate program that the members are allowed to promote. The affiliate program is free for everyone to join. But, the full advantage of the program can only be realized after investing a minimum of $1000 in the WO Tokens.

WoToken – The Compensation Plan

The company promises huge returns on the investment in their WOR token.

  • Plan 1: An affiliate needs to invest in the WoTokens worth of $1000 for receiving a 0.25% to 0.5% daily ROI
  • Plan 2: An affiliate needs to invest in the WoTokens worth of $5000 for receiving a 0.3% to 0.65% daily ROI

The company provides the WoToken App for those who want to invest in their WOR tokens. These tokens are created as per the demand and the investment made to the company. These tokens have no value outside their own ecosystem. The returns and ROI are also paid in WOR tokens. Hence, if the company falls, these tokens will have np value in the real world.

WoToken – The Referral Commission

The company pays referral commission to its affiliates using the uni-level compensation structure. In a uni-level compensation structure, an affiliate is placed on the top and the personally recruited affiliates are placed directly under the one who recruited them.

For example, an affiliate is placed on the top. The ones recruited by the top affiliate are placed on level 1. The affiliates recruited by the level 1 affiliates are placed on level 2 and so on.

The referral commission is decided with the levels of uni-level team an affiliate grows under him. The rates are as follow:

  • A uni-level team with one level:  50% referral commission is paid on level 1
  • A uni-level team with two levels: 80% is paid on level 1 and 50% is paid on level 2
  • A uni-level team with three levels: 80% is paid on level 1, 50% is paid on level 2 and 30% is paid on level 3
  • A uni-level team with four levels: 100% is paid on level 1, 50% is paid on level 2, 30% is paid on level 3 and 10% is paid on levels 4 to 10
  • A uni-level team with five levels: 100% is paid on level 1, 50% is paid on level 2, 30% is paid on level 3, 10% is paid on levels 4 to 10 and 5% is paid on levels 11 to 15

WoToken – Appollo Levels

Once the affiliate satisfies the Appollo level criteria, the affiliate is allowed to earn referral commissions beyond the 15 level that is the standard ROI Payment level.

  • Level 1: An affiliate is required to generate a downline WOR token ROI volume of $250,000 for receiving 5% referral commissions from level 15 onward
  • Level 2: An affiliate is required to recruit thee Level 1 affiliates personally for receiving 10% referral commissions from level 11 onward
  • Level 3: An affiliate is required to recruit at least three Level 2 affiliates personally for receiving 15% referral commissions from level 11 onward
  • Level 4: An affiliate is required to recruit at least three Level 3 affiliates personally for receiving 20% referral commissions from level 11 onward

WoToken – Reviews

John: Do not recommend this bogus program. It is too costly and worth nothing.

Sandra Y: I am stuck with this program. I cannot check the ROI balance on the app even after recruiting three levels. There is no support from the company. I hate this program.

The Conclusion from the above Reviews

The investors are not happy with the service and offerings of this MLM company. Most of all, there is no guarantee if you will ever be paid. The company is shady and does not have proper operation. How can one invest $1000? This is a very risky decision to make.

The Verdict

Instead of using telegram ponzi bot, the company has used app-based Ponzi bot. However, it is still the Ponzi platform. WOR tokens require no money for its generation. This means that the admins are paying no to very little amount for generating these tokens. These tokens can be sold at any value decided by the anonymous admins.

The website also does not publish the current value in their internal exchange for these WOR tokens. The company uses the Neraex exchange for realizing returns. For those who are not aware of the fact, Neraex failed as a Japanese crypto exchange and has been recently repurposed only to cheat public through WOR trading

The company is using the newly invested funds to pay the existing affiliates. What else the program could be if not a Ponzi Scheme?

Once the recruitment will fall, the ROI will stop. The anonymous admins who happen to be the top investors will have all the money from the program. Few of the affiliates joining early may receive some profit. However, the majority of the affiliates will lose money in the hands of these frauds.

So, it is better staying away from this company and the scammers operating the fraud.

 

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