AddWallet: “We get paid by advertising companies”
Following a series of ongoing problems plaguing the AddWallet business opportunity, the company has struggled to keep up with the expectations of affiliates who invested with them.
The daily ROI percentage paid out continues to leave most affiliates unable to break even and widespread reports from affiliates indicate that revenue-sharing points continue to disappear without an identifiable explanation or regularity.
A day or so a new wave of reports began to hit social media with AddWallet affiliates claiming they were unable to log into their accounts. Those affected were being redirected to the Google homepage after entering in their affiliate ID and password.
Seeking to address these concerns, AddWallet sent out an email to affiliates yesterday advising
Due to the ongoing fraudulent activity, we have been forced to implement some harsh security features this weekend.
For the safety of all our members accounts we have added new layers of security within the system. Due to that many of you might not be able to log into your accounts right now.
This is the reason: if you are logging into more than 2 accounts from your IP address, you have been logged out of the system.
This feature will be turned back off this afternoon. After 6pm today you should be able to access your account again.
We had to take this step for two reasons: stacking and hacking!
Stating that ‘stacking and hacking have become a real issues‘ within the opportunity, AddWallet advised informed its affiliates that their
security firm has advised us to put in deeper security measures.
The number one item you as a member need to do immediately is change your AddWallet password and make sure your STP or Payza information is correct in your back office.
We have also found out that hundreds of members have had their emails hacked. You need to clean this up as soon as possible.
Meanwhile “stacking” is the commonly practiced Ponzi strategy investors use to “stack” multiple positions under themselves. Typically using family member’s names or simply fake accounts, affiliates do this to make the most of referral commissions offered on investments made with the company.
Only deciding now to tackle what they see as a problem, AddWallet appear to have affected quite a large portion of their affiliate base with the new security measures. As above they will be turning them off for now but whether or not they will return at a later was not made clear.
In any case, the company seems determined to combat the issue, writing
Per our Terms and Conditions it is against company policy to run someone else‚s business and watch their ads for them. If you continue to do this, your membership will be at risk.
This activity is harmful to the company and it’s revenues and we have to make sure we protect your and our earnings.
What will happen to affiliates found to be running multiple accounts in order to game the system was not clarified.
One additional interesting tidbit of information revealed in the email was AddWallet’s claim that
We get paid by large advertising companies depending on traffic. These advertising companies do not pay companies like ours when the traffic for multiple accounts is coming from the same location.
Previously AddWallet have been tight-lipped about any additional sources of revenue they generate other than accepting direct investment from affiliates.
The existence of additional streams of revenue would go far to somewhat legitimise the revenue being paid out by the company as commissions, but still leaves the problem of the company paying out a daily ROI using affiliate funds.
Furthermore, which companies AddWallet are allegedly paid by is still a mystery. Typically traffic is only paid for if it is of some value to the advertisers paying for it, with the more targeted the traffic being resulting in a higher price for it.
AddWallet forces affiliates to view ads in order to receive their daily ROI so advertiser value would appear virtually non-existent.
Personally the only way I see AddWallet paying out the daily ROI (even the diminished rate currently being paid out) is via shuffling new investment from affiliates around to existing investors.
The purchase price of even the most targeted of web traffic still falls well short of the 0.25-1%+ daily ROI AddWallet have been paying out their affiliates.
The Beginning of an inevitable END!
And that my friend is how the ‘Cookie Crumbles’
Reminds me of problems that Zeek was having not long before they were shut down. People were having problems with their accounts and they blamed it on “hackers.”
So Now everyone understands how a ponzi/scam recipe works:
1. Hype the scam as the next best thing with claims of quick money for simple “work”.
2. Tell everyone to “Get In Now Before Pre-Launch!”
3. Promise that “Millionaires will be made in (insert year)”
4. Hold conference calls with jammed up lines hyping all the easy money to be made.
5. Wait a few months to announce glitches in the system.
6. Spend the next several days telling everyone that “These things happen in every business.” and “Don’t worry, we’ll have it all worked out before you know it. We have the best people money could buy.”
7. Then it’s “Our systems have been hacked. But the checks are in the mail.”
8. Then it’s “We’re sorry to inform you that due to unforeseen circumstances, we will not be accepting any new sign-ups (desperate folks who can’t/won’t do their own due diligence)
9. Then it’s “We’re sorry, this website is down indefinitely for restructuring. We’ll be back soon.”
Yes and then, No need to worry just join on the “TOP” with us in this business instead. What is your plan “B”?
Get excited “NOW” and go tell everyone you know, even your parents, brothers, sisters, aunts, uncles, grandma’s, grandpa’s, your friends, their friends. Anyone who wants to “FIRE THEIR BOSS”! Even tell your boss.
This has “NEVER been done before” and it is “100% compliant”.
We have the top “mlm lawyers” that were the top mlm lawyers for other compliant companies. Just get 3 who get 3 and so on! Go go go, get on top! We like it on top.
The Add Wallet slogan should be “Add money daily to OUR wallet” 🙂
Oh let me say this…bulls—. It is the EXACT same thing HourlyRevShare claimed, LOL, but all their supposed ads purchased by the scam Brisco Fund went to one member’s account, Lieven Van Neste’s.
The MINUTE I hear this stuff I roll my eyes…”oh people are buying ads on our site.” I looked. The ads are all for member’s other sites, LOL. There are no ads. What a boatload of cr**!
Funny, because this pretty much fits the MO of these scams. First, sorry, hackers have infiltrated our system, it’s down. Second, problems with the code. Third, pause for a few days to fix the bugs, etc. etc.
They all seem to play from the same songsheet, it’s just that the sheeple haven’t figured out the song yet.