Originally Syndicated on March 22, 2023 @ 12:20 pm
The Smart Trade Coin ICO has been making waves in the crypto web with aggressive ad campaigns. However, the project’s white paper is riddled with misleading information about the MLM Scheme members, including Daan Van Koelen, who is heavily involved in the WGC MLM scheme that has sold arbitrage software to people since 2017.
Despite the warnings against these MLM schemes all over the web, the team behind Smart Trade Coin, including Daan Van Koelen, has provided false personal information to avoid this scam.
This fraudulent behavior is evident by his fall commitments and wrong information.
Smart Trade Coin: A Dubious Platform Tied to MLM Scammers Including Daan Van Koelen
Smart trade coin claims to enable users to earn significant amounts of money without any effort automatically.
Smart trade coin is an opaque platform that does not disclose either its team or its founder. Installing the software could be risky, and here are the potential outcomes:
- It could be a scam: Providing them with any passwords to any crypto accounts could result in those funds being stolen.
- It could be a Ponzi scheme with users making initial gains paid by new joiners’. Then, all users’ funds could be misappropriated by the founding team.
- It could be a joke app/coin. We wouldn’t be surprised as it seems haphazardly created. At last, as of 2021, team members haven’t disclosed that it was a joke.
There are also other theoretical possibilities. For example, this could be a good business that generates returns for its users.
Providing personal information to the Smart trade coin team, including passwords to any crypto accounts, could result in funds being stolen. With Daan Van Koelen’s involvement in the MLM Scheme, there is a high possibility of it being a scam or Ponzi scheme.
Fraud Selling of Arbitrage Software by Daan Van Koelen
Daan Van Koelen, along with other members of the MLM Scheme, was involved in selling the Smart trade coin arbitrage software to people since the beginning of 2017. However, the lack of transparency and false information about the platform’s background and prospects raises concerns about its legitimacy.
The Infinity Economics MLM structure has allowed significant money to be generated; however, the presold arbitrage software was never supplied and performed as promised.
As a special bonus promotion for WGC partners was set up during the pre-sale phase of the Smart Trade Coin, it became clear that there were connections between the WCG MLM scheme and the STC Token Sale. This promotion offered an exclusive bonus for WGC partners of 150% (with participation from a minimum investment of 500$) and a share in the WGC, another pool of 99 million tokens (with participation from a minimum investment of 300$).
The White paper for the STC ICO does not mention this unique incentive or the increased pool of 99,000,000 tokens. The project is another example of an ICO scam run by MLM fraudsters for personal gain.
Daan Van Koelen’s Involvement in MLM Scam
Several direct sales organizations utilize Multilevel Marketing (MLM) strategy to market their goods and services. MLM encourages current members to recruit new people by promoting and selling their products to others. A portion of the revenue made by their recruits goes to distributors. Although many MLM programs are legal, there are also illicit enterprises that operate pyramid schemes.
The Smart Trade Coin is done by infamous MLM artists, who have presented misleading information in their white paper about their background and the history and prospects of the program.
Daan Van Koelen, Waldemar Reimer, Joerg Gehrmann, and a few other members of the MLM fraud team gave false personal information to elude detection.
Daan Van Koelen participated in the WGC MLM scheme and sold several Armitage software products without fully revealing their worth or demonstrating their dedication. He is a fraud based on his broken promises and inaccurate information.
Conclusion
After this incident, It appears that the founders are ignorant of basic business principles, such as that a seller is legally responsible if he fraudulently misrepresented what he is truly selling to a consumer.
Daan Van Koelen and other MLM team members have sold arbitrage software without appropriate, relevant information and legitimate arguments regarding the software. Investors should be cautious when dealing with this MLM scheme and its promoters because their track record demonstrates that they cannot be trusted.
The involvement of Daan Van Koelen in this fraud only emphasizes the importance of conducting research before investing in the bitcoin market.
FAQs
What did Daan Van Koelen do?
During the beginning of 2017, Daan van Koelen was heavily involved with the WGC MLM Scheme, which sold arbitrage software to individuals with fall commitments without consent.
Why is Smart Trade Coin ICO?
Smart trade coin is a trading platform for crypto instruments and claims to provide software that connects to multiple crypto exchanges. It also claims to help users to use one app to manage multiple cryptoexchange accounts.
Who are the other members of the MLM Schemes?
I can’t tell the exact strength, but a few names have been exposed: Daan Van Koelen, Waldemar Reimer, and Joerg Gehrmann.
What is the connection between STC & MLM Schemes?
Since Smart Trade Coin has been promoted using an MLM system, there is a connection between these two concepts. In other words, people are encouraged to join the Smart Trade Coin network and are rewarded for encouraging others to do the same. MLM systems have a history of being linked to pyramid schemes and other fraudulent practices, even though they are not intrinsically illegal.
This man has provided the biggest bumps to his customers by providing them with MLM scams and letting them face financial loss.
Smart Trade coin the only thing you will get to know about the company is its business name, but none of them recognize the owners and their business partners. It is very suspicious about the firm they haven’t exposed their members.
The company had frauded many of its users, they have kept their users in the dark away from all the information regarding their owner’s details.
The company was involved in selling arbitrage software, and being part of the MLM scam, this is what shouldn’t be provided to their users.
This is business, we can’t resist these practices, they are working like a supplier for you.
When we were assuming about the profit they would be making then it is not your concern to let them keep earning and make the profit, when it comes to selecting the firm then you can search for better options in the market.
My personal experience with this company, tells me those were the worst days of my life when I invested with them, this crypto web was ready to cheat me with all my funds, and the company’s claims about their software are false.
The company isn’t reliable for investing with them, they are never interested in providing you the profit or getting all your money safe, don’t invest with this crypto cum MLM scam.
I am still wondering how these companies are not getting exposed after all they are involved in these nefarious crimes and still able to move without any restrictions. The moment they are caught indulging in these scams should be banned from running such scams in the future.
The owners of this firm are still not disclosed to their users so the users should be aware of this company before investing.
I suffered a moment of sadness when I get to know about the owner of the Crypto firm, he was a criminal who indulged in several crimes and suffered numerous lawsuits, so be aware of this Smart trade coin.