WorldOTC Review: Fake trading “click a button” app Ponzi
WorldOTC stands for “World Over the Counter”. Don’t read too much into the name, it’s not supposed to mean anything.
WorldOTC provides no information on its website about who owns or runs the company.
In an attempt to appear legitimate, WorldOTC provides a bunch of meaningless or outright bogus regulatory certificates through its app.
One of the provided certificates is from the FCA. I looked up the reference number in the FCA’s registry and it doesn’t exist.
WorldOTC’s website domain (“worldotc.com”), was first registered in 2019. The private registration was last updated on June 17th, 2022.
I believe this is on or around when they current owners took possession of the domain.
If we look at the source-code of WorldOTC’s website, we see it is localized to Chinese:
This strongly suggests whoever is behind WorldOTC has ties to China.
SimilarWeb shows a large uptick of traffic to WorldOTC’s website beginning June 2022.
38% of WorldOTC’s website traffic originates from Vietnam. 31% is from Spain and 6% is from Peru.
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.
WorldOTC has no retailable products or services.
Affiliates are only able to market WorldOTC affiliate membership itself.
WorldOTC’s Compensation Plan
WorldOTC affiliates download an app and invest USD equivalents in tether (USDT).
This is done on the promise of advertised returns:
- invest $10 and receive 4 cents every 3 hours
- invest $20 and receive 8 cents every 3 hours
- invest $30 and receive 12 cents every 3 hours
- invest $40 and receive 16 cents every 3 hours
- invest $50 and receive 20 cents every 3 hours
- invest $60 and receive 24 cents every 3 hours
- invest $70 and receive 28 cents every 3 hours
- invest $80 and receive 32 cents every 3 hours
- invest $90 and receive 36 cents every 3 hours
- invest $100 and receive 40 cents every 3 hours
- invest $500 and receive $2 every 3 hours
- invest $1000 and receive $4 every 3 hours
- invest $5000 and receive $20 every 3 hours
- invest $10,000 and receive $40 every 3 hours
- invest $100,000 and receive $400 every 3 hours
There doesn’t appear to be any limit to WorldOTC’s advertised returns. A 3% fee is charged on all withdrawals.
WorldOTC pays a referral commission on invested USDT down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 15%
- level 2 – 10%
- level 3- 5%
Finally, for every ten investing affiliates recruited, the affiliate who recruited them receives $10 USDT.
WorldOTC affiliate membership is free.
Full participation in the attached income opportunity requires a $10 to $100,000 investment in USDT.
WorldOTC is another app-based task Ponzi scheme from what appears to be Chinese scammers.
WorldOTC’s Ponzi ruse is a “trading service”, managed by “a team of experienced professionals (with) a huge liquidity pool”.
WorldOTC represents “clicking a button” generates trades. To qualify for the maximum daily ROI, WorldOTC affiliates must click a button in the app every 3 hours per active investment.
Scammers get around this by promoting WorldOTC automation scripts.
Be it automated or manual clicking, no trades take place. All WorldOTC are doing is recycling invested funds to pay returns.
WorldOTC is part of a group of “click a button” app Ponzis launched since late 2021.
Including WorldOTC, BehindMLM has thus far documented thirty-one “click a button” app Ponzis. Most of them last a few weeks to a few months before collapsing.
The same group of Chinese scammers are believed to be behind the “click a button” app Ponzi plague.
Update 2nd September 2022 – WorldOTC has collapsed.
Typical HYIP scam which is obvious on its face, unfortunately no regulator will ever investigiate and prosecute.
The domain registrar and ISP however have the ability to close it down but won’t because they do not enforce their own rules regarding KYC and domains used for obvious fraud.
They usually claim it is law enforcement who must complain if an abuse complaint is filed.
The new “click a button Ponzis” are getting pretty thin on the ruse front. Cloud mining? What is this, 2015?
I don’t know how this model keeps spreading from country to country. It’s like every country has a cross-section of dumdums who think clicking a button in a phone app = Ponzi riches.
And they absolutely have to jump on these stupid things. Four of five reload apps later, Chinese scammers move onto a new country.
There are dedicated facebook groups where the members post new ones. Majority of the people try to “get in early before it collapses” to “make a profit”, some try to “get back what they lost on the previous one”.
It’s fucking ridiculous.
Most of the people in them don’t even bother with legitimacy,or it’s as easy as “I’ve been doing this for a month and doubled my money”.
They’re pretty boring to cover. Lots of copy paste. The current tron ones are just fucking pallete swaps aimed at different regions.
For the sake of completeness I’ll sprinkle them into the publishing schedule as they don’t take long to dissect. This is peak bottom-of-the-barrel as far as MLM crypto scamming goes though.
Sometimes they don’t even bother to update groupnames.
WOTC has been rug pulled and no withdrawals happening. When will people learn and stop being driven by greed.