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TRONUSDT (TUSDT) Honest Investigation: 5 Scam Threats Found

Bull Is Coming has actualized that 90% of new cryptocurrency investors are fallen gravely for ICO (Initial Coin Offering) and Airdrop scams.

We have taken it upon our self as a task to investigate the potential risk involves in investing in such a project, and also to enlighten the public on what to look out for in such projects.

What is an ICO (Initial Coin Offering)

ICO is a cryptocurrency company or an initiative looking to raise money to establish a new coin, app, or services launches an ICO (Initial Coin Offering) where interested investors can buy into the offering an receive a token issued by the initiative or company

what is an ico

KEY TAKEAWAYS:

  • Some ICOs have yielded massive returns for investors. Numerous others have turned out to be fraud or have failed or performed poorly. 
  • Early investors in an ICO operation are usually motivated to buy tokens in the hope that the plan will succeed after it launches
  • Know the developers. Investors should strive for 100% transparency from a company launching an ICO
  • ICOs are, for the most part, completely unregulated, so investors must exercise a high degree of caution and diligence when researching and investing in ICOs.
  • ICOs are rife with fraud and scam artists looking to prey on overzealous and poorly informed investors. And since they are not regulated by financial authorities like the SEC, funds that are lost due to fraud or incompetence may never be recovered.

What is an Airdrop

Airdrop is a distribution of token for free with the aim of building a massive user base and a wider disbursement of coins.

In our first Investigation, we spotted an ICO called TronUSDT that has been getting a lot of attention because of the influence of the word “Tron“, but then, we found some threats associated with this new company and we did like to let you know, should incase you want to invest with them.

What is TRONUSDT

TRONUSDT is a stable currency which made with Tron Blockchain. You can use TUSDT as Digital currency and convert it into real cash. TUSDT can be used to purchase products, also you can use TUSDT as a payment system. TUSDT is a fiat currency that can be changed into USD. A completely centralized token in the Tron blockchain.

TRONUSDT whitepaper extract

TRONUSDT Presale

tronusdt presale

TRONUSDT will be released on the basis of the Ethereum and Bitcoin platform. It’s the compatibility with the token with third-party services wallets, exchanges, etc, and provides easy-to-use integration.

Start EndNumber of Token for SaleToken exchange rateAcceptable currenciesMinimal transaction amount
Sept. 21, 2020Until the finish of 3 Rounds200000000 TUSDT1 TRX = 1 TUSDTTRX, ETH, BTC, USDT100 TRX

TRONUSDT Exchange Listing Roadmap

  • Start of the TRONUSDT platform development, August 2020
  • Airdrop and Token sales starts, September 2020
  • TB, October 2020
  • TronUSDT claims that they will be listed on Justswap right after the presale ends.

5 TRONUSDT Scam Threats to Watchout

Above, is all about TRONUSDT as published on their whitepaper, but then you won’t just go ahead to buy their coins on presale, without knowing:

  • The team behind the project
  • The product of the company and its revenue
  • The potentials or the ability of the company to achieve its goals.
  • Legal tenders and others

Now, after we have taken time to analyze TRONUSDT we figure out this 5 Scam Threats, that should be put into consideration.

#1. Fake TRONUSDT Partners

On the official TRONUSDT website https://tronusdt.xyz, they claim to partner with the following companies.

  • Iconetwork.io
  • Btrc.io
  • Icoagency.io and others

From our investigation, some of their acclaimed partnership are traced to non-existing domains/companies whereas the others have no verification of being in partnership terms with TRONUSDT

#2. Fake Team Profiles

The identity of the website owner has been hidden. This may be done for a valid reason as spammers use this information to email website owners.

Unfortunately, it also makes the identification of the owner difficult. We prefer if the website does show his true identity.

When checked upon we spotted a different team profile that was traced to the team of the WordPress theme they used to customize their site http://wpdemo.oceanthemes.net/icos/#application

We wanted to consider maybe it was a mistake from the designer (might have forgotten) but then, it was intentionally used on their whitepaper.

And that signified that they have intentions to use it like that to confuse the public.

#3. TRONUSDT Tronscan Overview

Tronsudt has claimed to be listed on tronscan.org, while that is True they were tagged SUSPICIOUS.

TRONUSDT REVIEW

Also, on the tronscan their official site is quite different from theirs, https://tronusdt.com for https://tronusdt.com and the worst part of it all is the former is non-existing and available for purchase.

#4. No Achievable Goal or Roadmap

Below is a chart overview of what Tronusdt claims to have and to achieve

tronusdt

From our research, we discover that the invisible team behind TRONUSDT has no specific goals, as their features are confirm stolen from the WordPress theme they are using.

You can see the proof below.

So for a company not to have unique goals that mean they are unsure of their future. They only took their logo and insert it in the demo feature of the WordPress theme they are using.

#5. Domain Age

It has been 12 Days days since the website was set-up. This is a concern as many scam websites never grow old.

These kinds of websites are usually taken down by the hosting company after days, weeks, or a few months.

As young websites have a higher risk than older websites, we reduced the trust score. However, we might overlook that because we believe the company is a start-up.

Conclusion

Participating in ICO (initial coin offering) can actually be a lucrative idea if the company will be able to achieve their goal.

But then, it is stated that 70% of ICO is total scams, 25% of ICO projects fail and only 5% of ICO is actually a success.

The risk involves in ICO should be noted so there will be no surprises even when the project fails.

Comments (4)

  1. James Sep 23, 2020
  2. The Blogger Scientist Sep 23, 2020

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