I came upon a comment on a post on Publis0x where a person is shilling Loansriver.com and how you can make a staggering 12% per day for 12 days on this website. Simply deposit your BTC and you will earn a lot ! Ehhmmm have we not heard that before….a lot of times already ? I decided to check out their website and look around Google for some more information and it turns out of course to be a scam, so please do not fall for this crap ! Their website looks alright and they make it seem all is well, but please be warned.
On their website you can go to company info and they say they make money using arbitrage on BTC trading. Arbitrage trading is a system where you exploit the differences in prices on different exchanges. Sometimes one exchange has a higher price on BTC than another and so if you trade between these two, you can make money. Loansriver makes a lot of money doing this and they pay you 12% per day for 12% and probably they will find a way to let you earn a high percentage per day for the rest of your life. Do you really believe this ? Don’t you think that every professional trader out there would do the same thing and become a millionaire ? Why go through all the trouble of learning how to trade if you can simply switch from an exchange to the next and buy and sell rinse and repeat ?
These type of scammers prey on people who think they can get rich quick. When you check their 10 last deposits and 10 last payouts on their website, you will most likely see very small amounts being deposited and being paid out (I checked and this was the case by the way hahaha). This is typical as well, because people with a smaller amount of money dream of becoming rich quick, so when they see 12% per day of interest, they will jump at this !
You will probably see some payouts when you do research on Google, but what is happening is as follows : the early investors get paid out only if new people sign up and invest. You will be put under pressure to try to hook more people towards this site so that you can get paid out. As long as people keep on signing up for this you will be paid I guess, but you can understand that in the longer run this will stop at some point which means you will no longer see pay-outs. What happens is they will take your money and run away. It is a classic ponzy scheme.
When you check their website you will find out as well that the people behind this site are nowhere to be found. You do not see faces or profiles on the site and obviously they want to remain anonymous. You will also see that they do not show any type of proof or statistics of their trading method. If you are a decent site, you will show proof of your trading method and will show that you can actually pay people who put their hard earned BTC on your site. They claim they can pay-out 12% per day, but that is simply way too much to be true. If you have suddenly millions that sign up for this, they have to pay a crazy amount of money every day to all the users.
There is no financial authority watching over this website and since there are no regulations, they can do as they wish with your investment. They claim to accept users of the USA and the UK, but knowing the SEC in the USA, this type of company would never be accepted. They provide a registration certificate, but it is very easy to obtain one. For example in the UK you can get one for like 5 Pounds (company house of UK provides this). Easy to invest 5 Pounds to pretend you are a legit site.
On the beermoneyforum.com you can see Loansriver as well. You will see comments to see if it is a scam or legit and you will literally see one person commenting numerous times to try to proof they pay out (link down below in sources). Maybe the platform is able to pay out small amounts for now, but they will stop this one day once they get a good amount of money. Only one person showing constantly (Knight Angeles is the user name) that it works is kind of iffy don’t you think ?
I hope I convinced you a little bit, that this is a classic scam. I might get dislikes for this post, but I had the obligation to do something and help people not fall for this. Any site or platform that tells you it can give you 12% per day on your investment is lying. It is tempting to get rich quick, but do not fall for these type of platforms. They prey on you and one day they walk out with your money ! We have seen this numerous times in crypto and this will be no exception.
