Is the Sidra bank mining app legit or a scam?

“We are planting our Seeds to grow our vision in Digital Islamic Banking to create the world largest decentralized Islamic DEFI Sidra Bank.”

It is considered a “Real App”. It has working links, Google Play has verified over 100,000 downloads, (zero verified by the Apple Store). Apparently, the Sidra Bank App is ambidextrous in that it works for android and iOS… ok…

Upon reviewing the app details, I noticed it has received over 1,200 reviews. That’s a lot for 30 days. So, I dove in. The positive reviews read the same, “smooth app, profit making, great mining app,” blah blah blah. What was the bad news?

Most of the complaints are on two specific code-related software bugs… or purposely placed for future use?

First, ranging from 1 October through mid-October, they discovered a problem within the referral code. When the account originator would refer somebody to open an account, the referred party needs a referral code from the originator. Sidra Bank was not issuing them, therefore stripping the originator from his referral commission.

Second, and to be honest, the complaints are very worrisome to me. Beginning on 26 October 2022, review after review states similar to:

“I was able to login yesterday, but it won’t verify me today.”

“It doesn’t believe me to be a human. Keeps failing verification.”

“Please fix the verification process, I can’t login!”

… and some other variations of the same problem. An update was noted 22 October, 2022, but no activity beyond 28 October.

>>> There are no updates, >>> there are no reviews, >>> there is no activity.

As it appears to be a legit app, so was a similar mining app that was financed through a group on Telegram. Since it’s conception, people in this telegram group invested their money in this mining app. For weeks this went on, some people gaining small profit, some gaining huge profit.

Suddenly, the website wasn’t working correctly, glitching, not accepting entries, freezing up. Some portfolios took huge losses. After explaining to the group that a small drop in value made too many investors withdraw their portfolio balances, causing further loss in value… It tanked. Everyone else was completely drained, within 8 hours.

The owner, creator and person who was in charge of the app since its conception (who really knows who was behind it) suddenly posts and last “F@!k You” message to his group and deleted his account, while simultaneously, the website domain showed “URL error path” message.

So again, this website was a fully functioning operational mining site for 3 to 4 months, only to discover it could have been for the sole purpose of the creator stealing your investment. Some people will say it was the investors pulling money out, others will swear that the creator planned the theft from the beginning. Depends on who you talk to.

All I can do is verify that the app is legit, share the reviews, and say any Crypto Currency could be as legit as long as it’s legit. Then one day, it’s gone, along with your money. Be cautious and good luck. I hope this was helpful.

Sidra Capital’s Mutajara USD Fund continues to show strong performance with annualized returns in excess of 6% for 2020

Jeddah, September 27, 2020 – Sidra Capital’s US dollar-denominated Mutajara Fund has been successfully achieving its targets and is on course to deliver returns in excess of 6% for 2020, with no payment defaults or delays despite the challenging market conditions created by the global COVID-19 pandemic. The returns generated by the fund are superior to the USD money market return rate of 0.5% per annum.

The Sidra Ancile Global Structured Trade Investment Fund (GSTIF), Sidra Mutajara Fund (SMF), and Sidra Income Fund (SIF) continued to perform consistently during 2020, reflecting Sidra’s expertise in balancing risks and opportunities. The liquid investment funds cater to institutional investors and together encompass a total of USD 177 million in Assets Under Management (AUM), with the SMF alone accounting for USD 37 million in AUM.

Jeddah, September 27, 2020 – Sidra Capital’s US dollar-denominated Mutajara Fund has been successfully achieving its targets and is on course to deliver returns in excess of 6% for 2020, with no payment defaults or delays despite the challenging market conditions created by the global COVID-19 pandemic. The returns generated by the fund are superior to the USD money market return rate of 0.5% per annum.

The Sidra Ancile Global Structured Trade Investment Fund (GSTIF), Sidra Mutajara Fund (SMF), and Sidra Income Fund (SIF) continued to perform consistently during 2020, reflecting Sidra’s expertise in balancing risks and opportunities. The liquid investment funds cater to institutional investors and together encompass a total of USD 177 million in Assets Under Management (AUM), with the SMF alone accounting for USD 37 million in AUM