Wisdom Tree TRX have been getting lots of attention lately. The platform promises quick transactions, low fees, and rewards through affiliate programs. But the big question is: Can you really trust it, or is it just another crypto scam?
What’s Really Going On with Wisdom Tree TRX
The website claims that Wells Fargo Bank and WisdomTree Investments manage Wisdom Tree TRX’s funds, and users invest USDT via the TRC20 network. In reality, Wisdom Tree TRX doesn’t provide any actual products or services. Affiliates can only promote the membership itself and are promised a 13% commission for attracting new investors. However, these types of schemes often fail when recruitment slows down.
How Wisdom Tree TRX’s Scam Works
Wisdom Tree TRX pretends to use “quantitative trading,” where affiliates click a button to earn money. However, clicking the button does nothing. The platform simply uses new investments to pay earlier investors, making it a scam rather than real trading.
Is Wisdom Tree TRX a Scam? Red Flags
Regulatory Warning
- On September 6, 2024, the Central Bank of Russia warned that Wisdom Tree TRX might be a pyramid scheme.
Fake Registration Info
- The website “wisdomtrx.vip” was registered with fake details on September 1, 2024 and set to expire on September 1, 2025.
Questionable Company Background
- The company, Sophia, says it’s based in California, but there’s not much proof that it’s real.
Suspicious Claims
- The platform deals with USDT and has confusing VIP levels that promise big returns, which are often signs of scams. It also says Wells Fargo manages their money, but there’s no proof of this.
What To Do If You Have Been Scammed
Cancel your credit card
Immediately call your financial provider and cancel your credit card. By so doing, the credit card details you used for your transaction would become null and void.
Request for a new card
After the old credit card has been canceled, ask for a new card, it doesn’t cost much to get one. Your credit card issuer will issue you a new one with different numbers.
Report the Fraud To Relevant Authorities
Report the scam to relevant authorities and organizations. This includes:
- Better Business Bureau (BBB): File a complaint with the BBB if the online store is based in the United States.
- Internet Crime Complaint Center (IC3): If you are in the United States, you can file a complaint with the IC3 at https://www.ic3.gov/.
- Your Local Consumer Protection Agency: Contact your local consumer protection agency or the equivalent regulatory body in your country.
Also read: Beware Of Nellcoin.com
Nora