Cloud Token lets investors leave but refuses to pay them
Cloud Token collapsed last October when it stopped paying returns out.
Since then you have the familiar post Ponzi mess of “leaders” stringing along those they convinced to invest, lest they turn on them.
Ronald Ai, Cloud Token’s only admin, nuked his public social media profiles on December 1st, 2019. He is currently believed to be in hiding.
The latest chapter in Cloud Token’s post collapse mess is a new contract affiliate investors are being urged to sign.
As per the terms of the contract, pushed out yesterday through Cloud Token’s app, investors can now leave the company and cash out.
The catch though is Cloud Token will only pay these investors what they originally invested.
Withdrawals on returns generated via CTO reinvestment (the monopoly money side of the business), will not be honored.
Backoffice conversion from reinvested CTO into anything else will also not be honored.
The reason for this is simple. Cloud Token ran out of new investment last October.
They can’t dollar for dollar pay out generated CTO’s, because most of them are created them out of thin air. Actual money used to invest in initial CTO packages was exhausted months ago.
And if you converted your CTOs into something else via your Cloud Token backoffice, congratulations; You have numbers on a screen but that money doesn’t exist either.
For desperate Cloud Token investors willing to agree to the contract, their CTO balances will be locked for another six months.
In a nutshell, Ronald AI and the gang will return your initial investment. Or you agree to giving them another six months to stall on paying you your imaginary return.
And after six months if they haven’t disappeared completely, it’ll be some other bullshit excuse (Jarvis 3.0?).
Totally what a legitimate company legitimately registered with securities regulators and legitimately generating returns via trading would do.
Or not. Sorry for your loss.
Doesn’t even the promise of the return of the original investments sound too good to be true? I don’t really undrestand the logic of it.
Could there be a gamble behind this move. That the “decliners” actually get back what they originally invested, hinges on how many agree to lock up their crypto for 6 months.
If too many decline, they won’t be able to return the original investments to all who desire it. After already pocketing and resuffling most of the invested money, there is a risk that they don’t have enough available in their coffers reserved for the returns.
Aai probably bets that the amount of decliners will be so small that the return sum is manageable/palatable.
Btw, it’s claimed that they even return the worthless CTOs to the decliners with this ERC-20 contract made about two weeks ago:
etherscan.io/token/0xe21d39bac438bd9d81adb010743ec4af28d42edd
It is a gamble. But also remember Cloud Token hasn’t been paying returns since last October (possibly late August).
CTO is also worth whatever they make up internally.
This is a long drawn out MLM Ponzi exit-scam, Ronald Aai style.
I wonder if they actually return the investments back to people who choose that option, like what’s the point of doing that and then keeping others in for another 6 months to then close the shop.
They could just take it all right now and vanish. They must be hoping that that the new investments over the next 6 months exceed the amount that people are trying to get out at the moment?
The quickest way to trigger meaningful regulatory investigations is consumer complaints.
Most of Cloud Token victims are in third-world countries. This isn’t coincidence.
Most of the leaders now just doing the same with Cash Fx when will that one implode ???
Most of Cloud leaders in CashFX? None of them. Or do you call Luigi Bruni a leader? LOL!
Some updates:
– Cloud Token app removed from the Apple store. Blamed on the “haterz”. (facebook.com/cloudtoken1/posts/758617918002709)
– Many reports of the new App not working proprely
– Those who don’t make the accept/delice decision within 7 days (of what exactly is unclear) will be “auto joined”. (facebook.com/cloudtoken1/posts/758258888038612)
– Ronald Aai’s FB account completely removed
Faith sloan anf justin holiday that were promoting the scam cloud token are now doing the same with CASH FX
So is there a chance of people withdrow theirs cryptocurencies?
Probably not. Cloud Token was a Ponzi scheme from day one.
Your “cryptocurrencies” don’t actually exist. What you invested was paid to top recruiters. Ronald Aai ran away with the rest.
Sorry for your loss.
There might be something cooking as reports about disappearing crypto assets in Cloud Token wallet have appeared:
facebook.com/groups/291159271764084/permalink/482444495968893/
Ronald Aai’s final exit scam, or just some technical issue?
In addition, as far as I can see, no reliable reports about “leavers” getting their original investments back, although 14 days has been surpassed for many…
Is there anyone here who get refunded with at least the initial investment?
More than the maximum of 3 full weeks (more than 14 days working days) have passed when opting out. None of the leavers have been paid back, as shown by the many reactions on facebook groups confirming the above.
Current situation:
1. Delaying tactics to pay out continue. There never is an official message from this Ronald Aai bloke himself, he has completely vanished and his fb account is nuked.
2. The only news from the ´company´ comes from his enablers and recruiters.
3. Initiatives have started to sue and organise a class action lawsuit. In my view this is not enough, also top recruiters should be traced, named and held to account.
4. There are still low level recruiters defending Aai and selling Cloud 2.0 despite all the indications this entire project is a scam and in the process of collapsing.
5. In the remote possibility it is not a scam, who with common sense would still want to stay in this project with all this lack of communication, unkept promises, failed communications? Yet, the latest communication is that only 7 pct want to leave. This is yet a total lie.
My advice to victims who come here: get organised and make a list of top recruiters. Name and shame then at the very least.
Great article and great information. However… can you please try and find some confirmed cases of customers receiving their funds back?
This would at least give some hope to people who are very concerned about this situation.
If you read the comments above, doesn’t sound like anyone got refunded.
Despite there have been some dubious “proof of return” screenshots circulating for weeks, the issue seems to be real because Ronald Aai has even gone on record addressing the lack of progress in the matter.
He claims only 7% opted to leave (facebook.com/groups/666022993580846/permalink/1300146100168529/).
The supposed large number of “remainers” was one his excuses why the 7-14 day deadline hasn’t held, in addition to “unexpected legal and technical issues” and lack of manpower addressing all “unexpected” issues at once. (facebook.com/groups/666022993580846/permalink/1306535462862926/)
As you can see, he didn’t make any new promises as to when the “leavers” might expect to get their principals back.
Let’s see what happens, but as I said in comment #1, the return of the original investments sounds too good to be true for a Ponzi scam…
bbeta.io (Bit Beta Pte Ltd) is down. These scammers are trying to slowly disappear.
And for some reason they paid to a completely random media website a quick buck to get an ad for Ronald Aai and Bit Beta systems, while Bit Beta doesn’t even exist anymore.
(fox34.com/story/41848440/bitbeta-founder-ronald-aai-the-fourth-generation-of-the-blockchainy)
Fox34 is a spam website. Anyone can upload a press-release for a fee.
Has anyone recieved their principle amount after leaving the CTO?
It has been more then a month now.
Any news?!
If they were arrested when we will here back from the Singapore police or journalistic announcements? Court date? Report to the layers of the governments?
When never bij asked for evidence?
Another platform “PlanFlash” what is related to Sblock. Also exit scam. Why we never hear something about arresting or court results.
Why is plustoken still on Facebook!!??
Why can plustoken convert 3 million of assets in exchange. While they arrested ??!
Is it all huge of mafia network? Included government? Or all behind is the government itselfs??!
And no one from the million members can take action?? There is no journalism or jurisdictions in the members under us? Who can take action by do it as an community to sue them?!!
Can we do start up a group community on Facebook and or telegram?
We must join a sue club against this criminals. Or leave this scum with totally of more then 400 million of dollars??!
The news is Cloud Token was a Ponzi scheme and your money is gone. Sorry for your loss.
No point bitching and moaning about it and other scams after the fact. It’s too late.
SEA is terrible at Ponzi regulation. Which is why so many of them pop up there, or are run by Euro and US scammers targeting the region (Africa isn’t far behind).
lol. the first day i downloaded the app last year, with all the hype then, i just knew it was a well branded bitconnect and a plustoken in another dress.
after all the bashing the admin took above, guess he has been proved right. just like control finance that no arrests have been made till date.
all your funds are gone forever.
after losing thousands of dollars in 2017 and early 2018, i have not had issues spotting a crypto scam.
daily passive income above 15% per annum is a big red flag. no data about the owners another red flag.
sketchy details about how the money is really made? another red flag.
the scammers have now gone to cashfx which i heard is having issues to0.
Cloud 2.0 is still available on App Store.
It’s not and never was a decentralized wallet you have access to look at your money on there server once they take down there server all the funds you put in there control are gone dumbass.
Stop falling for these Ponzi scams
Ponzi (the end)
& that guy is so overweight.
He is gonna die of a heart attack soon and when Ronald does, well is that payback?
My tokens where earned with an initial BC investment of 875 USD into my Cloud Token 2.0 wallet.
Through the Jarvis trading bot, it earned interest on the value of my Bitcoin holdings and grew as the value of the Botcoin grew.
The higher the BC, the more CTO crypto I accumulated.
I know have 650 UD worth of CTO, and believe me, it cannot be converted or redeemed.
Due to Cloud Token being a Ponzi scheme, in effect you have $0 worth of CTO.
CTO is and always has been worthless outside of Cloud Token. After Cloud Token collapsed, sorry for your loss.
There never was a Jarvis trading bot. What Aai occasionally presented in promotional material as being Jarvis in operation was simply the free, open source Zenbot software:
https://behindmlm.com/mlm-reviews/cloud-token-review-another-mobile-app-crypto-ponzi-scheme/#comment-414154
It’s not just that the screen output looks identical, in the video referenced in that comment you can actually see Zenbot debug info interspersed with the regular output.
In fact, Jarvis was so fake that Aai on other occasions forgot about it, and talked about employing human traders – before realizing his mistake at the last moment, and hurriedly adding that of course they used Jarvis, too.
Theoretically, they could have been doing some trading using Zenbot. But:
(a) there is not just no evidence for that, but no reason to assume they did so – what would be the point when you’re running a Ponzi scheme? It’s an unnecessarily hassle when you can just lie about it.
(b) the preposterous interests they claimed to generate are impossible to achieve with any kind of trading.
no wht happenned to the crptos we depoited regardless CTO. BTW i heard there is another app version. Is it true?
Thanks
Same thing that happens in every MLM Ponzi. What wasn’t paid out as recruitment commissions was kept by the admins (Ronald Aai etc.).
Does it matter? Your money is already gone.
Sorry for your loss.
Has any leavers in Canada got their money back when the transfer happened? just wondering? thanks.
Hey Sharon, I’m in canada too and can confirm my withdrawl from Jarvis is still pending over a week now. WTH.
My original investment would come in handy for sure right now. I don’t care about the loss intrest nor CTO tokens just give me my initial investiment back.
There is no support nothing. How do I contact these people?
Out of interest Carlo, when did you first invest?
Following this thread & the great work done by Oz it would seem CT started collapsing mid 2019.
FYI, There’s a class action lawsuit group on FB.
Is there any light at the end of the tunnel with Regards to payouts?
No. Cloud Token was a Ponzi scheme and your money was stolen.
Sorry for your loss.