Honestly, this company blew my mind. I cannot believe this type of scam is still around now days.
I got into this event by applying as an extra (like a model/actor) to sit in the crowd. Literately not one person in the crowd was real, with over 300 people!
They offered each extra 2000thb to attend, which is equivalent to around $66 as I write this, but the best part is that in the event the special quests and the speakers were all just paid actors also hahahaha.
So without further ado I present to you UTOPIA:
So this was a good 3 or so hour presentation with Thai dancers:
A celebrity quest and a lot of talk about Bitcoin and how their platform will allow you to earn regular with guaranteed profits.
Now I really don’t know where to start with this but let’s put aside the fact everyone in that video is an actor, lets put away the fact they are launching a company which is just after peoples money and has enough funds to invest into something so grand, which makes me think it’s not the first time, lets put that aside and brake it all down and hopefully this will help some of you to understand a scam better and the more experienced ones (who would be able to tell this was a scam even if you saw it on video) well you can just laugh at this and enjoy knowing that these people have been exposed and just wasted thousands of dollars for this launch which is going to be named and shamed by me and many others now!
Breakdown: (For the purpose of this article “Platforms” and exchanges are different things)
So to start of with and you would be surprised but a lot of people seem to ask for platforms to allow them to profit from crypto. A vast majority of crypto enthusiasts think that you need a platform in order to make BTC (because that is the only currency they know), I see so many people asking: “anybody know any platform where I can make profit” and similar questions. Well let me tell you that’s not how it works. Full stop, platform are not a way to make profits and money, exchanges and trading are, if you are looking to invest into crypto then you do not do it through a so called “platform” but through an exchange.
I won’t go into detail about this but ill leave a link to another page on this website for you to visit at the end of the article.
Moving onto the second important thing is that thought the whole presentation they kept on mentioning BTC and their platform but never once explained how it worked, honestly, during the whole 3 hours didn’t even mention it. What they did mention and show a lot of times is how much money they guarantee you can earn if you invest with or into their platform. If someone cannot tell you how your profit then its a SCAM and most importantly if someone gives you guaranteed profit for ex: “you can earn $3000 if you invest $300” or “invest $100 and earn $1000 in 24 hours” this is 100% a scam, for 2 reasons first of all you cannot guarantee profit to anyone as you never know what will happen tomorrow and second of all is that it is illegal to promise someone profit, thus if someone is doing this they are already breaking the law, so they won’t think twice about taking your money.
Have a look:
Here is a video which shows you how the above looks and sounds in action:
Immediately after they decided to bring on a doctor, yes you read that right, a doctor. I’m literately laughing just remembering this and he started speaking about Blockchain and the platform, it was so epic, I didn’t understand why he chose this image but maybe it was to build trust, because hey who can’t trust a doctor?
Just in case you thought I was joking.
But the kicker, the cherry on top, the crux in the biscuit, the mother fu….g final flourish was when the actual guy who runs the company, I believe, came out and gave his presentation and put this up:
YES! That is a pyramid and me pointing at it, trying not to laugh! Seriously!?!??! Don’t people just know nowadays when you see a pyramid in a presentation then you run. I honestly hope I don’t need explain to people what “Pyramid Schemes” are. So I won’t….. Just when you see them run.
Worth a mention
So the one thing which is difficult to use as an indicator for you decision about a projects legitimacy is the referral program. Now referral programs are used worldwide by almost every company at some point of their life cycle and it is quiet difficult to pin point the how a scam companies referral system differs from a legit one but I think is when a company uses referrals and allows people to benefit from each referral in a way where you can progress, for ex: if you bring in 10 people you you earn 5% of each persons and what they put in and if you bring in 100 people you can earn 10% of each person etc. This is where I think the line is usually drawn (not always) as a standard company would use referrals to get new customers and then take over once they got them a scam one will use referrals to make people get more and more investors and push them to get even more people, which usually will only invest once thus the progression system. The more people the more money, no returning users.
There are many companies out there and even though the ICO, invest in us and all that is dying out at the moment there are still companies out there like Utopia which are still using cryptocurrency to run old school scams. They are targeting countries and individuals which may have little experience and and or understanding of crypto which well usually is a good way to scam.
If you are reading this and feel like you might fall victim to this or may have little knowledge then I strongly suggest you take my crypto masterclass, where I will teach you everything you need to know about the industry, investing, keeping safe and basic trading:
Hope I helped some of you and at least made a few laugh:)