LT Wallet Review: LT Pro app crypto trading Ponzi
LT Wallet fails to provide verifiable ownership or executive information on its website.
Three executives are named; Stephen Taylor (co-founder), Ajit Powell (co-founder) and James Middleton (“a member of the LT Wallet Project’s Nuclear Development Regimen”). These appear to be made up.
When looking at the properties of LT Wallet’s marketing material, we find Chinese:
This strongly suggests whoever is behind LT Wallet has ties to China and/or south-east Asia (typically Singapore).
Supporting this is LT Wallet’s Fivver style marketing videos on YouTube.
LT Wallet’s website domain (“ltwallet.online”), was privately registered on August 8th, 2022.
SimilarWeb currently tracks top sources of traffic to LT Wallet’s website as Belarus (18%), Brazil (13%) and Russia (10%).
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
LT Wallet’s Products
LT Wallet has no retailable products or services.
Affiliates are only able to market LT Wallet affiliate membership itself.
LT Wallet’s Compensation Plan
LT Wallet affiliates invest various cryptocurrencies. This is done on the promise of a 0.2% to 1% daily return.
LT Wallet pays referral commissions on invested cryptocurrency via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
LT Wallet caps payable unilevel team levels at ten.
Referral commissions are paid out a percentage of cryptocurrency invested across these ten levels as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 9%
- level 3 – 8%
- level 4 – 7%
- level 5 – 6%
- level 6 – 5%
- level 7 – 4%
- level 8 – 3%
- level 9 – 2%
- level 10 – 1%
Joining LT Wallet
LT Wallet affiliate membership appears to be free.
Investment in various cryptocurrencies is required to fully participate in LT Wallet’s income opportunity.
LT Wallet Conclusion
LT Wallet is your typical MLM crypto Ponzi scheme.
LT Wallet is a multi-ecological Smart quantitative trading wallet software.
LT Pro is a high-frequency arbitrage AI trading platform for the world’s major digital currency exchanges.
Users are free to participate in artificial intelligence transactions without setting any mandatory requirements. There is no transaction risk for users to participate.
LT Wallet runs its Ponzi scheme through an “LT Pro” app. LT Pro is how investors interface with the scam.
Through LT Pro, LT Wallet represents to investors that trading is the source of their returns. In reality all LT Wallet is doing is recycling newly invested funds to pay off existing investors.
This is what makes it a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve LT Wallet of ROI revenue, eventually prompting a collapse.
LT Wallet’s exit-scam of choice is likely to be its own LT Coin.
Create a binding invitation code and get 10,000 LT coins to view on the TRON chain.
Each time you invite a user and bind your own invitation code, you will receive another 10,000 LT coins.
LT coins will be listed on exchanges in the near future, when people can withdraw their LT coins for free trading.
LT Coin appears to be a TRC-20 shit token. These are generated on demand at little to no cost.
Watch for LT Wallet’s collapse when LT Coin is dumped on public exchanges. Withdrawals being only paid out in LT Coin will soon follow.
Alternatively LT Wallet could just go the traditional route and disappear.
Either way, math guarantees the majority of investors in Ponzi schemes lose money.
Update 10th May 2023 – LT Wallet has collapsed.