Westland Storage Review: Crypto Ponzi with WLS token exit-scam
Westland Storage provides no information on its website about who owns or runs the business.
The Westland Storage website domain (“westlandstorage.com”) was first registered in 2005.
The registration was last updated on May 9th, 2018 but provides no information about the domain’s owners.
A visit to the Wayback Machine confirms the current version of the Westland Storage website went live on or around April 27th, 2018.
Prior to that the Westland Storage domain redirected to an unrelated storage business in Michigan.
This coincides with Alexa reporting an uptick in traffic to the Westland Storage domain from early May.
Despite existing for less than a month, on its website Westland Storage claims to have generated $33.5 million in annual profit for over 8000 investors.
In an attempt to feign legitimacy, Westland Storage provides an incorporation certificate for “Westland Storage LTD”.
Westland Storage LTD was incorporated in the UK on February 1st, 2018.
UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.
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.
Westland Storage Products
Westland Storage has no retailable products or services, with affiliates only able to market Westland Storage affiliate membership itself.
The Westland Storage Compensation Plan
Westland Storage affiliates invest $10 or more in cryptocurrency on the promise of a perpetual 1% daily ROI.
Referral commissions are paid on invested funds down two levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 5%
Joining Westland Storage
Full participation in the Westland Storage MLM opportunity requires a minimum $10 investment.
Payments in Westland Storage are made in bitcoin, litecoin, bitcoin cash, dash, ethereum or ripple.
Conclusion
Westland Storage claim to generate external ROI through real-estate.
Westland Storage offers you to become a share owner of real estate around the world. Buy square feet of real estate and get a daily profit from their lease.
Westland Storage provide no evidence of the company owning real-estate anywhere in the world.
The real-estate ruse is common enough in the MLM underbelly, with BeReal Estate and BitEstate coming to mind. Both Ponzi schemes have since collapsed.
Westland Storage solicit investment on the promise of a perpetual 1% daily ROI.
The company will continue to pay this ROI until new investment dries up, wherein it appears it plans to launch a WLS token ICO.
Now you can become an investor and get profit from the acquired real estate. WLS seeks to decentralize the real estate market.
As soon as the company’s turnover reaches the required level, the platform will be released on the ICO.
This will likely manifest itself by way of ROI payments switching over to worthless WLS tokens.
No doubt the plan is to bait and switch as many investors as possible, in the hope a sizable user-base will pump WLS at launch.
In reality altcoins attached to Ponzi schemes attract no interest outside of the Ponzi scheme itself.
When the ROI payments stop, any value an attached altcoin has also plummets.
This serves the interest of Westland Storage’s anonymous owners two-fold.
Firstly they make off with whatever cryptocurrency the companies gullible investors initially invest.
Then they convert owed ROI payments to a worthless token they generate at little to no cost.
As the primary holder of WLS, in the event the altcoin briefly pumps at launch – they stand to make the most profit through the dump.
The real-estate investment fraud model isn’t any more legitimate when attached to an ICO.
In the end, same as any other Ponzi scheme, the owners and a few early investors will make off with the majority of invested funds.
The majority of investors (which includes you if you didn’t get in on or close to day one), lose out.
The website is from Russia? Yesenia Gonzalez?
link ://domainbigdata.com/westlandstorage.com
She also has youniquewithyesenia.us registered under her name.
Yeah, I am definitely waiting on this investment to fail essentially. I let my husband pick it.
SCAM 100% don’t fall for all this make money fast bs.
you can make money fast by trading not these ponzi scams.
Westland strorage is definitely a Scam
This company made a bounty for app downloading.
In its website I found no app. So I visited google play store and found only one app name WESTLAND STORAGE.
I attempted to log in by this app but fail.
One day later it sends me a message that they found a fake app in play store and advised not to download.
From then on I can not log in to this site with my pc. They says that too much log in attempts already happen. So I cannot log in.
Actually I attempted once that day. If I would make more attempts, still as my email and password is correct so I should be able to log in.
They themselves uploaded this app and declare it fake to show that stealing my password scammers are continuously log in.
This way they ban me from this site as I did not yet make any investment.
In their email they gave a app downloading site. I visited this site
page and found that this app is for IOS, not for Android.
Why they have no app in Android. Why this so called fake app is
still in play store?
I visited their site and chat with support section official. This person was making answers with yes or no. They kept me waiting for long time to give every answer.
This way they will drive out unwanted persons from their site.
Now they are driving out non-investors, next they will ban people who made only one investment.
They want to show that they ban only those who are inactive. But reality is when an unwanted person tries to log in, its says that log in a temporarily disabled.
This way way they make people inactive.
They are not capable to give profit, because to continue their website they have to make a capital minimum 500 percent increased every year.
Their declared business is buying land and making construction and rent them.
Can you aspect a rent system where in one year land and construction cost will be fully recovered in one year?(and also 500% increased !!!!!!)
How long until it collapses?
Same as any other Ponzi scheme, when new investment dries up.
So, around 6 months then?
Since it started in April, we should expect it to go down as of October?
What if we are wrong here, and it’s not a scam?
Like I said, Westland Storage will collapse when new investment runs out.
No point discussing “what if” hypotheticals. No evidence of external ROI revenue being used to pay affiliates makes Westland Storage a Ponzi scheme.
If you’re looking for an excuse to invest anyway you’ll have to look elsewhere.
No I’m looking for a reason to keep the few satoshis that I put on there.
What to do in this situation? Get everything back and leave the boat asap?
What can you do? Ponzi schemes don’t let you withdraw invested funds.
I invested $150 and so far I withdrawn half of it back, withdraw to my ethereum wallet was instantly, there are two apps on the playstore the one is fake.
All my questions to the support team was answered instantly, yeah maybe it is a ponzy but for now I make my money back slowly.
^^ You weren’t taught math in school, were you.
Or spelling or grammar for that matter…
So, you have 50% of your “investment” back and you’re supposedly earning 1% a day, right ?
That means you will break even in another 50 days, approximately.
Sorry for your loss.
Not sure what all the fuss is about, because it actually made me money by referrals at the time we could still advertise for it on AdWords. It always paid out and still does really.
I have tried many others and most are closed since authorities started watching. It is no proof of not being a Ponzi of course. Just mentioning it is almost the only thing that didn’t fail me in crypto investments so far ..
It’s not rocket science, a Ponzi scheme pays out for as long as new gullible schmucks sign up and invest.
If you’re looking for congratulations for stealing money from people, you’re in the wrong place.
Yup.. I agree with you Westland isn’t reliable you can’t withdraw your fund without completing a ‘must do actions’ and am aure they don’t have a KYC.
most of this kind of investment will turn ugly someday.
i believe all good comments came from westland ppls, same like cheerleaders.
I am an trader and I want to try it anyway…since I started around June this year I only see it pays on time and did not fail to provide support and services.
I agree that the scheme seems sketchy but so much ppl are already making profit and not from bounty but after 100 days of return… it only profit let’s hope for all the ppl that invested in it; it can continue longer!
Ponzi math is a zero sum game. Every dollar you get paid is stolen from someone who invested after you.
Sitting around hoping doesn’t change the fact that the majority of investors in a Ponzi scheme lose money.
Excuse me Lionel but what profit? You need to stay in the platform for at least 140 days just to recover what you “invested” in the first place. Where’s the profit on that?
You could just made more money trading on any other platform.
Err, 100 days @ 1% per day isn’t a RETURN it’s your own money being drip fed back to you.
What’s more, unless it’s in your pocket, you haven’t got anything at all – except numbers on your screen
Have you seen the latest blog entry in WS page? They are claiming they bought an entire island! HAHAHAHA!
Truth is they rented out the Petit Saint Vincent island (a private resort complex in the Bahamas), googled a picture of it, flipped it backwards and posted a misleading blog entry about it, so gullible people now think they own an island when in reality they just rented it for a week using investors’ money.
Why would buying an island (fake or not) be something Westland Storage would tell investors about anyway?
Check this before you make any investment. If they are real they would answer their customers not blocking them.
twitter.com/btcdetective/status/1056498266437795840?s=21
The site is not working. They stole money from investors.
Ok…is there anyway to we can find out exactly what when wrong? I’m not too much in the hole but my sponsor is really in the hole & her sponsor is even deeper in a hole probably to the tune of over $40K which to some may not be but a drop in a bucket.
One other question..does anyone KNOW if this lose can be deducted from our taxes as an investment failure of some sort….Just putting that out there..
Like I told my sponsor, we can’t always depend on someone else to take care of us..We had the option to just say NO…Thanks & I wish everyone a Merry Christmas!!!
Sure, you invested in a Ponzi scheme and now your money is gone.
Sorry for your loss.
No, you generally can’t deduct fraudulent investment scheme losses. But by all means confirm with an accountant.
Several captures in the Internet Machine, for those willing to fill a Class A lawsuit against them (good luck with that).
1. web.archive.org/web/20180824192119/https://westlandstorage.com/
2. web.archive.org/web/20180617012804/https:/twitter.com/westlandstorage/status/1006844319486144512
3. web.archive.org/web/20180509230303/https://twitter.com/westlandstorage/status/994201817075601409
4. web.archive.org/web/20181010161755/https://westlandstorage.com/blog/view/the-main-event-of-the-year-visit-the-wls-conference-at-our-island
5. web.archive.org/web/20181010162659/https://westlandstorage.com/westland-storage-road-map