The Eclipcity World Ponzi scheme has collapsed. Proprietor Andreas Kartrud is but to publicly acknowledge the collapse.
For particulars we as an alternative flip to Ponzi veteran T. LeMont Silver.
Silver (proper) made a reputation for himself as a Zeek Rewards net-winner again in 2011. As per filed clawback litigation, Silver stole over one million {dollars} from Zeek victims.
After the SEC shut down Zeek Rewards in 2012, Silver uprooted his household and fled to the Dominican Republic.
There he doubled down on gaining Ponzi notoriety with BitClub Community.
We final got here throughout Silver in late 2019 pushing 3 to five Years, a short-lived foreign exchange rip-off.
About six months in the past Silver debuted on YouTube as “The Professor”.
As The Professor, Silver has been selling numerous MLM crypto scams. The most recent of which was Kartrud’s Eclipcity World.
Through a video uploaded by Silver on March sixteenth, we are able to verify Eclipcity World’s collapse.
Breaking information from Andreas
We will all see that the steadiness is declining quickly. We will all see that the members becoming a member of is lowering as effectively and we are able to all see that turning this round will probably be practically unimaginable.
For these unfamiliar with Andreas Kartrud’s model of smart-contract Ponzi schemes, it began with EtherChain again in June 2020.
A wise-contract steadiness being drained is inevitable. The “steadiness” is invested funds, which over time early buyers withdraw.
Recruitment in MLM Ponzi schemes inevitably declines, that means the steadiness runs at a deficit as early buyers proceed to deplete it.
That is your normal inevitable Ponzi collapse enjoying out.
Regardless of no person having the ability to management them being pushed as a serious advertising and marketing level for smart-contract Ponzi schemes, Kartrud (proper) goes on to announce he’s shutting Eclipcity World down.
We’re going to shut Eclipcity World, destroy the contract and transfer all funds into the insurance coverage contract of Eclipcity World.
Those that are in loss, that means they haven’t but obtain(d) 100% of their complete deposit will be capable of declare 1% each day from the insurance coverage contract till they’ve gotten their 100% again.
Should you’re questioning what the “insurance coverage fund” is, it’s easy a small steadiness put aside of invested funds.
When TronChain collapsed Kartrud promised buyers can be made complete via an insurance coverage fund – fueled by Eclipcity World funding.
On the finish of the day all Kartrud is doing is juggling a finite steadiness of invested funds. Math ensures that so long as there are Eclipcity World net-winners, the vast majority of buyers can not get better their losses.
As I perceive it that is how TronChain performed out, regardless of the insurance coverage contract guarantees. Naturally that is how Eclipcity World can even play out.
And it’s dangerous sufficient promising your victims an unimaginable 100% restoration. After radio silence for 2 weeks, Kartrud appeared in a March nineteenth video to announce a 120% insurance coverage fund restoration.
The place is the cash coming from? *crickets*
Tellingly, Kartrud has disabled feedback on his unimaginable 120% restoration video.
Wanting ahead, Kartrud has introduced;
We are going to NOT begin a brand new MLM, this isn’t the way in which to go as we have now came upon.
As a substitute of making an attempt to handle an MLM the place the return is predicated on different member’s deposits, we proceed with actual services and products that really generate income relatively then what Eclipcity World is doing now.
So mainly Eclipcity World will cease. Those that haven’t but obtained 100% will probably be getting that again via the insurance coverage and that’s it.
Alexa visitors evaluation of Eclipcity World’s web site suggests the vast majority of its victims are based mostly within the US, Canada and Russia.
Primarily based on his latest Fb posts Kartrud is busy shilling UME and EFT, two shit tokens he appears to have had a hand in creating.
T LeMont Silver is falling again on a foreign currency trading deal he’s selling via his Money Stream Membership advertising and marketing group.
