With the illusion to be quick rich schemes, people usually get ripped off their hard earned money by scammers that knows how to impersonate in order to get their intents fulfilled. They create sites that seems to be legit but with obscure agenda with only intention to steal peoples money, most times this ones, because they struggle to get enought money to cover their expenses and with ambition to fast change it, they become a "great plate" for this smart scammers!
Today I will dive in to forsage.io, a ponzi scheme with a matrix-cycler position program based on the Ethereum mainnet launched in February of 2020. Users get impressed by forsage as it appears working on a smart contract, but it have nothing special about. It's one more sophisticated scam with matrix-cycler positions (each user need to recruit to maintain the matrix cycling positions) and this cycler position never last, because if it slows down people stop to get paid.
"It's the old system of recruiting in order to maintain the business to pay"
So what's forsage.io
Forsage is another ponzi scheme launched early this year (February 2020) on the Ethereum network, they use the automation cycling position in the matrices, as claimed on the website, and pay directly to members wallets. Ponzi matrix cycling position schemes are long based on web using scripts, the unique innovation made by scammers was making it based on a smart contract to make it look legit! It's a ponzi scheme, the ones on top gets paid the most, and due to the peer-to-peer payments, different from matrix-cycler scam on web that use traditional ways of payments the funds are irreversible, once you send funds to the smart contract your money is gone.
If you dig more on the site you will clearly see that the site doesn't have a public twitter channel, a privacy policy, who are the owners or even CEO information. The forsage website was privately registered on February 6 and expire on Feb.9, 2023.
All that publicly marketing mark on the website are just pure blah blah blah, nothing is really, check the results from the site listed on scam-alert.io:
Even claiming that: zero risks, instant payments, transparency, immutability, smart contract blah blah blah is a complete Scam, protect you money don't get deceived online, your money is important! Forsage is a ponzi scheme!
Always make research before joining any investment business, flag immediately business that ask to send funds before, they may be a fraudulent business.
I read this article after two years because I want to know about Forsage. I don't know how was this project two years ago but it has become quite popular and viral in our country since few months. I know you are well aware of these topics so I would like to request you to revisit this Forsage.io project with a new article. 🙂