Cloud Token booted out of Singapore, retreats to Malaysia
Cloud Tokens ties to Singapore hinged on its ties to the World Blockchain Forum (WBF).
Those ties have been severed, forcing Ronald Aai to relocate back to Malaysia.
As I understand it, Cloud Token’s Ronald Aai was running Cloud Token from WBF’s offices in Singapore.
WBF co-founder Sheng Zhao helped with promotion of Cloud Token by appearing at marketing events.
As Cloud Token has grown and the potential for regulatory intervention rises however, it seems Zhao wants out.
The news was broken by Gary Liu on Facebook.
In a June 4th post Lui, who has ties to WBF through Orius Capital (which appears to be another MLM crypto Ponzi scheme), claimed;
World Blockchain Forum (WBF) has now taken a stand to DENY LINKS to CloudToken.
Point 4 – WBF urges CloudToken members to stop using Videos/Pictures/Articles of Zhao Sheng in the marketing or promotion of CloudToken.
Ronald Aii has also been kicked out of WBF and told to vacate the WBF premises in Singapore.
In support of his claims, Liu provided several Chinese language screenshots of WBF communications pertaining to Cloud Token.
Ronald Aai confirmed the WBF separation earlier this morning. Although according to him, it was due to building codes.
Yes we have vacated from the WBF premises, because the CT project has grown beyond our prediction.
The number of staffs needed to maintain the CT project exceeded the number of people allowed in the building (singapore building code, if you don’t know this please look it up).
Mr. Zhao, advised us to reduce the development cost as he already forseen the economic crisis that was to come.
So to ensure business continuity we choose to move our operations to KL.
Reading between the lines, “economic crisis” may reference pending regulatory action against Cloud Token.
If they are aware of pending regulatory action however, for now Zhao and WBF are keeping it to themselves.
In addition to committing securities fraud in the US, Cloud Token is also not registered to offer securities in Singapore or Malaysia.
On paper Ronald Aai is credited as Cloud Token’s Chief Technology Officer.
For most affiliate investors and the public though, Aai is both the face of and running Cloud Token.
Pending any regulatory action from the Bank of Malaysia, the Monetary Authority of Singapore or the SEC, stay tuned…
Will be PLUS TOKEN the next?
Ronald AII is talking crap.
Surely they could find a bigger building in Singapore… Why did they have to go Malaysia?
Also, Major businesses all around the world can have more than 2 business premises… Complete lies…
This is a terrible article. I dont think you understand the concept behind Cloud token.
Yes there a lot of people making money from this and straight away people shout scam.People say there is no real trading going on but they have demonstrated several times.
I myself saw videos of people saying they cant withdraw their funds. This is untrue.
I was concerned myself when I was this and did several withdrawals with no issues.
I do see cloud token with a future in the utility and payment market. It is a great project and I have since but 2 BTC back on to the platform.
We all know Bitcoin right?? This to was called scam and would never work. I was fortunate enough not to listen to the negative talk.
No I understand it completely. You dump money into Cloud Token, wait and then steal money from people who join after you.
Nope. Cloud Token is a scam because of its business model.
This is called social media proof and it’s meaningless. Watching some Facebook vids of supposed trading does not mean external revenue is actually being used to pay returns.
Nor is it a substitute for regulatory filings, audited account of supposed trading revenue and payouts, as well as legally required disclosures regarding Cloud Token’s alleged trading bots.
Whether you are personally able to steal money from those who join after you is neither here nor there.
Bitcoin is not an MLM company through which existing investors steal newly invested funds through. Whether you know it or not is irrelevant.
Complete scam this is just like USI Tech and so many others …..
Cloud Token is a pure Ponzi. Using new members money to pay the old.
Now Ronald is actively in malaysia. Heard that he is opening an office!
Does anyone have any clue where he is now. Or whose the leaders in Malaysia, so we will report to Bank of Negara to investigate these scammers!
Sure, you can find him, he always tells where he is on facebook. maybe you’ve just missed it.
I first hand understands that starting a biz in singapore is expensive if you know the wages/rental in singapore compared to malaysia. i think you’ll know it would make sense. The economic crisis, just don’t deny the fact, we’re all in this economic crisis.
As for BNM involvement, they can only take action when there are illegal trades going on in malaysia. As far as i know it’s a P2P trade between the user and other users.
So maybe wrong department, maybe the police can take action then with the police report can get lawyer to sue only when 1 side of the user cheats another user.
The Bank of Malaysia regulates securities in Malaysia. How you set up your securities offering is irrelevant.
We don’t typically see criminal proceedings in Malaysia, but the Bank of Malaysia has issued alerts on MLM companies offering unregistered securities in the past.
Problem is they’re not known for being timely in their action. By the time the Bank of Malaysia gets around to Cloud Token the damage will have been done.
So i learned something today, that is to say, if the company is a malaysian company doing business in malaysia offering securities illegally in malaysia then BNM can act. right?
By act all we’ve ever seen the Bank of Malaysia do is issue a warning and add a company to their illegal companies list.
Beyond that it’s up to the Malaysian police to go after scammers.
i heard from gary that he said the source of the news was from you and you said the source from him, so where did this news come from?
it’s important so we can build a case against this we need to get all the bad apples out of the market.
I’m not fluent in Chinese fam, how is the source going to be from me?
I quoted Liu’s Facebook post in this article, which was obviously published after it.
As I understand it Liu’s source was WBF and their messages in Chinese (wasn’t supposed to be leaked to Western audiences).
Liu seemed tight with WBF on his Facebook page, so maybe they cracked the shits and he’s changed his story.
OZ, do you have liu’s facebook page so i can check it out? btw who is liu?
Here is further proof of the Cloud Token scam. The Cloud Token management team is all fake as listed in their whitepaper located at drive.google.com/file/d/1m-INsux9tZX6cZgdrGFFquRjaFR0_3x8/view
Daniel Csokas is really Dane Elliot
Fasial King is really James Boyle
Enrique Santos is really Beau Dos Santos
Leonard Nevin is really Ty Yaffe
Oh hell no…
…and I was just about to knock off for the week too.
Do we know if Dane Elliot is an actual person?
I ran a quick Google search and nothing comes up except that mugshot, which looks like one of those “this is not a real person” face generators.
edit: My bad, here he is on stage at some crypto event – bitcoinviet.net/doanh-nghiep-viet-cho-khung-phap-ly-de-phat-trien-blockchain.htm
OK so from what I’ve been able to gather, the whitepaper Wood linked to was released earlier this year.
It was full of bullshit information, including the management examples Wood cited.
Ronald Aai pretended Cloud Token didn’t author that whitepaper. They eventually released a second whitepaper in mid May, this time provided through Cloud Token’s own website.
This new “official” whitepaper got rid of the bogus management information, but was just a copy+paste job of another crypto whitepaper. (credit: Julian Leahy)
Upon being outed for a second time, Cloud Token pulled their second bullshit whitepaper from their website.
Today there is no whitepaper provided on Cloud Token’s website.
Herp derp… why would the inventors of a magical trading bot that generates infinite money have to doctor a whitepaper not once, but twice?
This new coin / scam is being promoted by well know MLM scammers Paul Mccarthy and his Polish business partner Mateusz Gużda.
These guys are so bad they were booted out of the Dascoin scam and are currently involved in 3 to 4 other scam coins all mlm.
They have been joined by a newbie scammer Vivian o callaghan of Cork Ireland who appears to have left Dascoin and all three are well known from the Banner Broker scam.
His legit business is a tile shop (tilehaven), which begs the question , why go scamming ??
When these guys are involved look out Asia 🙂
Sheng Zhao and his entire WBF operation is fraud.
Bring stupid non intelligent people like pretty good looking girls to office. Use them to fool investors, take money from investors.
Then create Global events for marketing purposes, take photo and fool more investors.
Complaint against his company and employees to FBI, Singapore monetary authority. His all operations are Ponzi schemes.
Sheng Zhao never was investment expert or any expert, but suddenly a crypto expert? Only fooling and stealing money.