Plus Token Wallet Review: Mobile crypto wallet Ponzi scheme
The Plus Token Wallet website identifies a co-founder of the company as “Mr. Leo”.
Other than a small grainy photo of someone wearing a baseball cap standing behind a podium, no information about Leo is provided.
The Plus Token Wallet website domain was privately registered on September 19th, 2018.
Plus Token Wallet appears to be primarily promoted across Asia.
The Plus Token Wallet website provides a graphical roadmap in Chinese and showcases a recent event in Japan.
There’s also reference to a “grand opening” in South Korea last month.
Offered languages on the Plus Token Wallet website include English, Russian, Chinese, Korean, Indonesian, Vietnamese, German and Japanese.
The “latest news” section of the website boasts of “two China guys reach million monthly income club”.
Update 23rd October 2018 – The owner of the “plustokenwallet.com” domain has informed us he or she is only an affiliate.
At least for now, Plus Token Wallet doesn’t appear to have a problem with affiliate’s using misleading domain names.
The official Plus Token Wallet website domain is “pltoken.io” and is pretty useless.
The default website language is Korean and other than generic blockchain waffle, doesn’t provide any information about the company. /end update
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.
Plus Token Wallet Products
Plus Token Wallet has no retailable products or services, with affiliates only able to market Plus Token Wallet affiliate membership itself.
The Plus Token Wallet Compensation Plan
Plus Token Wallet affiliates download a mobile app, through which they invest funds on the promise of a monthly 6% to 18% ROI.
Residual commissions on monthly ROI payments are paid out 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.
Plus Token Wallet caps payable unilevel levels at ten.
Residual commissions are paid out as a percentage of the monthly ROI received by affiliates in the unilevel team as follows:
- level 1 (personally recruited affiliates) – 100%
- levels 2 to 10 – 10%
Joining Plus Token Wallet
Plus Token Wallet affiliate membership is free, however a minimum $500 investment is required to participate in the attached MLM opportunity.
The ruse behind Plus Token Wallet’s monthly ROI payments is bot-based cryptocurrency arbitrage, trading and mining.
Naturally Plus Token Wallet fails to provide any evidence of any external ROI revenue generation taking place.
Furthermore the company’s business model fails the Ponzi logic test.
If Mr. Leo and the gang were able to legitimately generate a consistent 6% to 18% monthly ROI (over double this if residual commissions are factored in), why would they be soliciting investment from randoms over the internet?
With new investment the only verifiable source of revenue entering Plus Token Wallet, the company essentially functions as a closed-loop Ponzi scheme.
Plus Token Wallet affiliates download the app and then use it to transfer pluscoin, bitcoin, ethereum, bitcoin cash, litecoin, XRP, doge coin and/or dash to Mr. Lee and whoever he’s working with.
PlusCoin at this stage exists only inside of Plus Token Wallet. It serves as a convenient method for Plus Token Wallet to accept real money for worthless points, which Plus Token Wallet can generate on demand at little to no cost.
From here it’s the usual MLM cryptocurrency story: Plus Token Wallet affiliates will be able to withdraw through the app as long as there’s new investment rolling in.
When that dries up or withdrawals exceed new investment, Plus Token Wallet collapses and everybody loses money.
As an additional kick in the nuts, the closed-loop nature of Plus Token Wallet means when Mr. Lee inevitably does a runner, the app will stop working and you’ll be locked out of funds you didn’t withdraw to a third-party.
Unfortunately the closed-loop nature also means we’re probably going to see a lot of people who think they’ve made a mint, based on what the app tells them.
Remember that numbers on a screen provided by a Ponzi app is not real money.
Nor are promises of pluscoin going public evidence of legitimacy. Launching your own worthless shitcoin to scam people through is Chapter 1 of the MLM cryptocurrency scam playbook.
And try not to get sucked in to the inevitable pageantry we see with Asian-based cryptocurrency scams.
Yes there will be “millionaires” in China and plenty of events with lots of ribbons and people speaking on stage, but on the backend Plus Token Wallet operates the same as any other MLM crypto Ponzi scheme.
Update 2nd July 2019 – Following the arrest of six Chinese nationals in Vanuatu last weekend, Plus Token has collapsed.
Bernd Reinders, a well-known German OneCoin scammer, recommends PLUS TOKEN on Facebook:
1. Why is the APP not official in the APP Stores? Sorry, they say Samsung and LG created the app, but cannot bring it in the offcial app store? An app registration cost about 60$ per year!
2. The APP is only installable about manual installation and take full control over your smartphone! Very strange and be careful!
3. The APP is bad coded. So much errors and faulty codes inside! Really created by SAMSUNG? HAHAHAHA! What a joke.
4. Its s scam, nothing more. This ERC-20 Token has zero value!
5. Also one person is holding 60% of this tokens. Really strange!
6. Personal warning.
Hold up, I don’t think this website can handle two “from Germany” readers.
THEY’RE TAKING OVER!
Oh ok thats true 😀 A friend asked me to meet him tommorow on a plus token meeting in Saxony (Germany).
He wants my expertise if he should invest or not. I say him, dont do it, but i will hear what they say tommorow 🙂 And i will blame them. 😀
Be careful walking that fine line between friendship and greed.
If your friend gets sucked in and sides with the scammers then things could get unpleasant. You might have to just walk away.
Its okay, i trained over 8 years material arts 😀 He dont get sucked in with them.
Yes i think they will put me out of the room, because they rent them for few hours.
The German magazine “NETWORK-KARRIERE” writes today:
Source: network-karriere.com/2019/03/06/neue-vertriebsmasche-multi-wallet-arbitrage-roboter-finger-weg-vom-plus-token/ (Translated by Google)
There’s a new similar scheme called Wotoken. I’m seeing it marketed by people who used to sell Plus Token.
Maybe worth doing a review on this, Oz?
WoToken on my radar.
a big fu..ing SPAM.
To all the nay sayers Plus Token is still around so what do you have to say for yourself now?
The same thing that was said when this review was published: Based on its business model, Plus Token is a Ponzi scheme.
Just because Plus Token hasn’t collapsed yet doesn’t make it any less of a Ponzi scheme.
Do you walk into hospitals and dispute terminal cancer diagnoses because the patients haven’t died yet? Herp derp a derp derp.
It will be scamed in the end, but people are stunned by the interests, Sucking blood from their downline.
Bad news for all doubters, grumblers and critics. I quote the serial cheater Walter Gerhard Piranty from Austria:
Oh yes, if Walter Gerhard Piranty is not busy with cheating, he operates a so-called “hour hotel” (brothel) in Vienna. Details can be read here:
These women are not his daughters but they work for him. Mostly lying. 🙂
Before Plus Token he was promoting Questra with one of the largest YouTube channel about these scammers.
As from Analytics (bloxy.info), the Plus Token transfers are decreasing rapidly this month.
Is it a sign of approaching the End ?
There’s only so many gullible suckers they’ll convince to sign up and invest. So yeah, if the transfers in are decreasing #RIP
Yes, I know that. I’ve already commented on the subject but have not sent it yet. Maybe I succeed today.
Hi Oz, recently my local town has a few plus token offices open shop, what gives?
I myself am a firm believer that plus token is a scam, but what will happen to the offices when the scam explodes?
When you say offices you mean local affiliates renting some space?
Doesn’t mean anything except authorities are asleep at the wheel.
They put locks on the doors and go into hiding.
This is the end my friends…….
Since 4 days no more transfer possible.
China Plus Token head arrested.
Checks the news.
Just putting the final touches on our report. Give me 2 mins.
I got the third conclusion on the Expert option, I work further, there are no reproaches for them, for online earnings what’s needed.
So far I decided to work with this wallet.
During the work with him, I have only positive reviews.
Cool. You must be one of the select few who didn’t lose money when Plus Token collapsed.
Want a cookie?
I believe that now it turned out to be really profitable to work with this wallet.
At least, the results of the work seemed to me excellent.
Plus Token collapsed back in July. No need to keep lying.
Sorry for your loss.
Plus Token is legit.
Gominer Token is legit.
800cc is legit.
$PANDA is legit.
CCDC is Legit.
Long Live GoMiner!
(Jk, I’m just making a meta trail for Google and all the shitcoins and sec-fraud douche canoes)
What do you think, is this PlusToken Leo?
(I was testing various image search engines)
The “beauty spot”/mole in his left ear would be a wonderful proof idenitificator but I cant find any high resolution pictures of him from PlustToken context.
But here is a picture of him that has a photo that looks like something made for modeling agencies:
Looks *very* similar. And fits with the Asian scam finding a white guy to front business model.
I think Plus Token’s Leo though has thinner lips and a squarer jaw:
The model has more of a triangular slant towards his chin.
It’s definitely the same guy, or his identical twin. Actually both his earlobes provide a clincher. He doesn’t just have that mole on his left one, his right earlobe is visibly pierced.
In a picture from plustokenwallet.biz (I can’t manage a direcct URL), where he’s sitting with that silly pink cap on looking upward, you can see both earlobes.
Despite the low resolution, you can see those marks on both of them. They’re only three pixels across, but they’re there.
There is also this picture from World Blockchain Forum:
which also looks more like something out of a model/actor’s portfolio than something you’d have made for promoting a business.
But still, all this shows is that Plus Token’s Mr. Leo also did some work as a, not very upmarket, model.
It’s not that unusual for young, goodlooking people who are aiming for a completely different career to earn some extra money as a model to make ends meet.
Most people on the books of agencies who provide for this kind of what is known as “catalog” modeling do it as a very occasional, part-time job.
If you can get it, the work pays better for only a very small part of your time than the kind of low-paid part-time jobs available to people like college students looking to make some extra cash.
So there’s nothing about these pictures which excludes the possibility of Mr. Leo being both an MLM scammer and a past occasional model, rather than an actor hired to portray an MLM scammer.
I’m almost sure that the model is indeed “Mr. Leo”. What PassingBy said about his ears, can be seen in some of the pictures in this post:
In at least two of the pictures, I think there are pixels showing that there is the mole in his left ear.
This six minute talk of him (which probably is the only longer PlusToken recording of him existing) is awkward to watch because it reveals what kind of uncharismatic and incompetent emptyhead he is:
Leo was supposed to be some kind of “super nerd” with background in Google AlphaGo team(right at the start of: youtube.com/watch?v=2A-DPEWdOAA).
The talk indicates that technology (or even MLM scamming) certainly wasn’t his main area expertise, and quite likely World Blockchain Forum hired him to be the masoct for the project.
Perhaps Asian mafia guys contacted the Russians (who are genreally considered to be in the wholesaler role in global criminal underworld) to see what they can do to help them in their new Ponzi scam prjoect.
They arranged the mascot and perhaps other things as well
They reached out to Bulgarians as well, because, the PlusToken app installation requires to trust a Bulgarian company called GLOBAL ONLINE MARKETING EOOD
The owner and (now former) manager Akeljan Brami is an Albanian citizen born in 1988, according to the Company’s Founding Act. (bird.bg/tr?v=view&eik=204476536)
The million dollar heist promoted by Shohan Bowala. You would think the Australian government is puke kick his dumbass out by now… crook!
Idva Manaj is an Albanian girl who lives in tirana and work in a scamm broker this girl took to me more than 100k euro!
I already started legal papers and i am near to find this girl! Be careful she uses diferent names, she lives in tirana a blonde girl she have a little girl called Tiara and she is cleaning the money with a new bisnes (kindergarten) called Primus Gradus!
My first step will be notice the Albanian autority! Be very careful she is a danger woman!!!!