WoToken Review: WOR token Appollo bot Ponzi scheme
WoToken’s website provides no information about who owns or runs the business.
The WoToken website domain (“wotoken.pro”) was registered using bogus details on September 16th, 2018.
WoToken marketing material suggests the company has ties to Hong Kong.
Update 27th June 2019 – A marketing video shot by the Asia Blockchain Review website earlier this year features an interview with WoToken’s founder.
The video was purportedly filmed in Hong Kong earlier this year and features Edward Wu as founder of WoToken and CEO of 1WorldBlockchain.
1WorldBlockchain claims to be a banking alternative.
1WB performs the basic functions required for efficient transfer of all types of Cross border payments into blockchain technology using smart contracts execution mechanism.
Edward Wu is credited as “Edward Ng” on the 1WorldBlockchain website. He also uses this name on LinkedIn.
1WorldBlockchain’s website domain was first registered in 2016. The registration was last updated in January 2019.
An old copy of 1WorldBlockchain’s website reveals the company operated out of Nanshan District, Shenzhen in China.
As far as I can tell 1WorldBlockchain exists today for no other purpose than to create smoke and mirrors around WoToken. /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.
WoToken has no retailable products or services, with affiliates only able to market WoToken affiliate membership itself.
The WoToken Compensation Plan
WoToken affiliates invest funds on the promise of advertised returns.
- invest in $1000 worth of WOR tokens and receive a 0.25% to 0.5% daily ROI
- invest in $5000 worth of WOR tokens and receive a 0.3% to 0.65% daily ROI
Affiliates invest in WOR tokens through the WoToken app.
WOR tokens are created by WoToken on demand and have no value outside of WoToken itself.
All returns and commissions within WoToken are paid in WOR tokens.
WoToken pays referral commissions on WOR returns paid to downline affiliates.
WoToken pays referral commissions 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.
How many levels a WoToken affiliate grows their unilevel team to determines their referral commission rates.
- one level deep unilevel team = 50% referral commission on level 1 (personally recruited affiliates)
- two level deep unilevel team = 80% on level 1 and 50% on level 2
- three level deep unilevel team = 80% on level 1, 50% on level 2 and 30% on level 3
- four level deep unilevel team = 100% on level 1, 50% on level 2, 30% on level 3 and 10% on levels 4 to 10
- five level deep unilevel team = 100% on level 1, 50% on level 2, 30% on level 3, 10% on levels 4 to 10 and 5% on levels 11 to 15
Satisfying Apollo Level qualification criteria allows WoToken affiliates to earn referral commissions beyond level 15 of their unilevel team.
- Level 1 – generate $250,000 in downline WOR token ROI volume and receive 5% referral commissions from level 15 to infinity
- Level 2 – personally recruit thee Level 1 affiliates and receive 10% referral commissions from level 11 to infinity
- Level 3 – personally recruit at least three Level 2 affiliates and receive 15% referral commissions from level 11 to infinity
- Level 4 – personally recruit at least three Level 3 affiliates and receive 20% referral commissions from level 11 to infinity
WoToken affiliate membership is free.
To participate in the attached MLM income opportunity, a minimum $1000 investment in WOR tokens is required.
WoToken marks a departure from Telegram Ponzi bots to app-based Ponzi bots.
This is done under the ruse of developing decentralized app technology (dapps), but in reality is just another platform to commit Ponzi fraud through.
WOR tokens are generated by WoToken at little to no cost. They are flogged off to gullible WoToken investors, at whatever internal value the company has set at the time.
WoToken do not publish the current internal WOR token value.
While investing and returns are handled through WoToken’s app, returns are realized through the Neraex exchange.
Neraex is a failed Japanese crypto exchange that was recently repurposed to create the illusion of public WOR trading.
On Neraex WoToken affiliates can sell their WOR tokens to other WoToken affiliates, thus realizing promised returns through WoToken’s app.
This is of course Ponzi fraud, as newly invested funds are being used to pay existing investors.
Adding to that you have pyramid fraud, by way of referral commissions paid out on recruitment of new investors.
Securities fraud is also present, as neither WoToken or Neraex are registered to offer securities in any jurisdiction they solicit investment in.
By now you should be familiar with the MLM cryptocurrency exit-scam model.
Whenever whoever is running WoToken decides they’ve stolen enough money or investor recruitment collapses, they’ll announce WOR’s public listing.
This will presumably initiate on Neraex but could later be expanded to other dodgy exchanges.
During the initial public listing hype pump, WoToken’s admin(s) will further dump as many pre-generated WOR tokens as they can.
After the initial pump they then do a runner. This leaves duped WoToken bagholders left to watch their worthless WOR tokens dump to $0.
Every MLM cryptocurrency scheme has followed this trajectory. WoToken will be no different.
Update 3rd December 2020 – Chinese authorities have arrested and jailed WoToken’s four co-founders.