What is ZoloUs?
ZoloUs is an investment project that promises members Universal Basic Income every day. To join, members are required to sign up, but no initial investment is required.
Instead, the website generates money through donations. Members are encouraged to donate between $2 and $50 USD.
How does ZoloUs work?
ZoloUs promises that they provide members with a Universal Basic Income of 380 hydra (HDA) daily. According to their website, Hydra will be worth $1.0 by the 29th of September.
Although this sounds great, Hydra has no market value, as it is not worth anything outside of the Zolo project. You would need to withdraw your Hydra for it to be usable…. which is not currently available on the website.
ZoloUs also asks their members to recruit other members, rewarding them with 500 extra Hydra per registration.
Hydra (HDA)
Hydra (HDA) is an unregistered cryptocurrency that appears to be founded by ZoloUs back in May 2020. The foundation generated an initial supply of 21.000.000.000.000, which increases by 5% daily. (just like Forsage)
Hydra currently has no actual value, as you cannot use, withdraw or exchange the cryptocurrency yet. The website promises Hydra will have value by 2021 (but I wouldn’t bet on it).
The “Human Challenge”
ZoloUs use the “Human Challenge” as their current marketing campaign. This challenge requires people to:
- Post their story on social media.
- Ask people to donate $2 through the website.
- Nominate three people to do the challenge and donate.
Is ZoloUs a scam?
ZoloUs portray themselves as a legitimate charity dedicated to the environment… but are they? ZoloUs are promising daily Universal Basic Income for all members – which is a promise they won’t keep.
Logically, there is no way this project will be able to afford to pay their members every day – but we’re not sure they ever intended to.
ZoloUs’s unregistered cryptocurrency had no market value until it is registered. This means users cannot use it to trade, purchase or sell anything. Effectively, Hydra is useless.
Which is kind of the point.
The Snapping Point team believes that ZoloUs is using Hydra as an excuse to solicit donations from members.
Unlike every legitimate charity, ZoloUs does not provide any proof of where their donations go. If they were using donation money for legitimate purposes, they would be able to show off their achievements on social media. Instead, their social media is a giant ad.
Is ZoloUs a scam?
ZoloUs portray themselves as a legitimate charity dedicated to the environment… but are they? ZoloUs are promising daily Universal Basic Income for all members – which is a promise they won’t keep.
Logically, there is no way this project will be able to afford to pay their members every day – but we’re not sure they ever intended to.
ZoloUs’s unregistered cryptocurrency had no market value until it is registered. This means users cannot use it to trade, purchase or sell anything. Effectively, Hydra is useless.
Which is kind of the point.
The Snapping Point team believes that ZoloUs is using Hydra as an excuse to solicit donations from members.
Unlike every legitimate charity, ZoloUs does not provide any proof of where their donations go. If they were using donation money for legitimate purposes, they would be able to show off their achievements on social media. Instead, their social media is a giant ad.
No. Here’s why.
- According to the IRS listing, the foundation is located within Niagara Falls – over six hours away from the websites “address” (more on that soon).
- All charities operating in Niagara falls are listed on the Niagara Community Foundation website… which does not include mention of any ‘ZoloUs’.
- The IRS lists the foundation as a public charity… meaning they would have to file a version of form 990. Despite this, the “charities” form 990 is not available. This likely means the form has not been filed or uploaded yet. (as in, they have likely not filed a tax return yet).
- If this “charity” was fully registered for tax-exempt status with the IRS… wouldn’t they want to display their EIN number on their website? Furthermore, shouldn’t it be in their terms and conditions?
There are several possible explanations for this. The website may have just started the application for Tax Exempt status and have not been fully assessed yet, or the listing under EIN 85-0737080 is for a another charity who market themselves under a different name.
Of course, being listed on the IRS website does not make a charity legitimate. (remember Naisos?)
To be sure we aren’t missing anything, we have reached out to the website for comment. They have yet to respond. In the meantime, here is a review from a supporter:
But what about their New York address? They list their address as ’11 Broadway Suite 615, New York, 10004‘, which seems legit, right?
Nope.
That address is a 23-floor building located in the Financial District of New York. The building is known as the ‘Bowling Green Offices Building‘, and has been a historic fixture since 1896.
The website owners claim that they occupy suite 615… which is currently leased out as a virtual office for companies who want to publically list a New York address.
You can see this yourself in the image below.
And Before that they make some airdrop who ask people to send 10 usd for people being able to recieve thei HDA.... ok let's said this is ok.... but after on their TG chat ask for another giveaway a fee what cost 0.01 BTC and that's smell like a scam.
