Originally Syndicated on February 22, 2024 @ 9:01 am
With its aggressive ad campaigns, the Smart Trade Coin ICO has been creating waves in the cryptocurrency world. But the project’s white paper is full of false information about the MLM Scheme participants, like Daan Van Koelen, who has been a major participant in the WGC MLM scheme since 2017 and sells arbitrage software to customers.
In order to prevent this scam, the members of the Smart Trade Coin team, including Daan Van Koelen, have given bogus personal information despite the widespread warnings against MLM schemes.
His false statements and fall pledges are clear signs of this dishonest behaviour.
Smart Trade Coin: A Dubious Platform Tied to MLM Scammers Including Daan Van Koelen
Users of smart trade coins are allegedly able to automatically make large sums of money with little to no effort.
The founder and staff of Smart Trade Coin are not publicly disclosed on this opaque website. Here are some possible consequences of installing the software that could be dangerous:
Giving them the passwords to any cryptocurrency accounts could lead to the funds being stolen, therefore it might be a hoax.
It might be a Ponzi scheme in which users profit from the initial investments made by new members. The founding team might then embezzle all of the users’ money.
It can be a humorous coin or software. It appears to have been put together clumsily, so we wouldn’t be shocked. Finally, team members haven’t revealed that it was a joke as of 2021.
There are also other theoretical possibilities. For example, this could be a good business that generates returns for its users.
Giving the Smart Trade Coin team personal information could lead to money being stolen, including passwords to any cryptocurrency accounts. Given Daan Van Koelen’s participation in the MLM system, the likelihood of it being a fraud or Ponzi scheme is very high.
Fraudulent Sales of Software for Arbitrage by Daan Van Koelen
Since the start of 2017, Daan Van Koelen and other MLM Scheme participants have been selling the Smart Trade Coin Arbitrage Software to consumers. However, doubts concerning the platform’s credibility are raised by the lack of openness and inaccurate information regarding its history and future possibilities.
Significant money has been made thanks to the Infinity Economics MLM structure, but the pre-sold arbitrage software was never delivered and never worked as promised.
The White paper for the STC ICO does not mention this unique incentive or the increased pool of 99,000,000 tokens. The project is another example of an ICO scam run by MLM fraudsters for personal gain.Â
Daan Van Koelen’s Part in the MLM Fraud
A lot of direct sales companies sell their products and services using the Multilevel Marketing (MLM) approach. MLM pushes its members to sell and market their products to others in order to find new recruits. Distributors receive a part of the money earned by their recruits. While there are a lot of legitimate multi level marketing organisations, there are also illegal businesses that run pyramid scams.
The creators of the Smart Trade Coin are well-known multi level marketing (MLM) scammers, who have misrepresented their past, the program’s history, and its future potential in a white paper.
Daan Van Koelen, Waldemar Reimer, Joerg Gehrmann, and a few other members of the MLM fraud team gave false personal information to elude detection.
Daan Van Koelen participated in the WGC MLM scheme and sold several Armitage software products without fully revealing their worth or demonstrating their dedication. He is a fraud based on his broken promises and inaccurate information.
Why is Smart Trade Coin ICO?
Smart trade coin is a trading platform for crypto instruments and claims to provide software that connects to multiple crypto exchanges. It also claims to help users to use one app to manage multiple cryptoexchange accounts.
Who are the other members of the MLM Schemes?
I can’t tell the exact strength, but a few names have been exposed: Daan Van Koelen, Waldemar Reimer, and Joerg Gehrmann. Â
What is the connection between STC & MLM Schemes?
Since Smart Trade Coin has been promoted using an MLM system, there is a connection between these two concepts. In other words, people are encouraged to join the Smart Trade Coin network and are rewarded for encouraging others to do the same. MLM systems have a history of being linked to pyramid schemes and other fraudulent practices, even though they are not intrinsically illegal.
ConclusionÂ
Following this incident, it seems that the founders lack basic business knowledge, such as the fact that a seller is legally liable if he deceitfully represents what he is actually offering to a customer.
Without proper, pertinent facts and sound justifications for the program, Daan Van Koelen and other MLM team members have marketed arbitrage software. Investors should use caution when interacting with the promoters of this MLM scheme, since their past performance indicates that they are unreliable.
The fact that Daan Van Koelen was involved in this scam just serves to highlight how crucial it is to do your homework before making any bitcoin market investments.
