Eco Smart is a scam scheme labeled “Theron Smart Contract” that receives Theron digital currency from its users by claiming to raise funds to create the “ECS” token. Bank of Tron. Is a very similar project with a few changes in plans and interest rate. The mechanism and activity of both of these scam projects is through attracting people through the pyramid method and is very similar to Panzi schemes.
The attractiveness of digital currencies to the public and the lack of awareness at the community level have provided scammers with the opportunity to make a profit by creating scam projects in which there is no useful activity and no scientific backing. In recent months, these projects have expanded more than ever. Doubleway, Deg Quinn and Pie Network are some of these projects, and now Eco Smart and Bank of Thrones have joined the mix. Next, stay tuned by reviewing these two projects with digital currency.
Misuse of smart contract names for fraud
As mentioned in the post about the double scam scheme, these days the name “smart contract” has become a tool for fraud. In this way, these projects try to differentiate themselves from other scam projects.
The fact that smart contracts are a great innovation does not mean that they should not be used for fraudulent purposes. Tools do not matter if a plan is a scam. Whether using a face-to-face company, a site, or a smart contract, a fraudulent scheme is inherently fraudulent and only manifests itself in various forms.
Anyone can make a smart contract for a very small fee (sometimes less than $ 100), but it can not be said that this smart contract is healthy and has real application. For example, you can build a website for less than 200 thousand tomans. The nature of your site is the same as the nature of the Amazon site, and both carry the title of website. But is the value of your website equal to the value of Amazon’s multibillion-dollar website?
More than 1 million smart contracts have been registered so far, and creating a smart contract is not a difficult task.
Therefore, the smart contract for fraudsters is just a tool to use the ignorance of the people about this innovation, to be able to attract more people to the system.
What is Eco Smart?
Echo Smart claims to be a smart contract on the platform. In this project, each person participates in this project by investing at least 5,000 tron. The developers claim that these funds will be used to develop a token called ECS. According to the completely false claim of this plan, the use of this token will be in payments related to computer games, technical analysis robots of financial markets and decentralized exchange offices of digital currencies.
As mentioned, each person must invest at least 5,000 Tron in a smart contract to participate in this project. Like all other scam projects, this plan states that the higher the amount invested, the higher the profit. No ceiling has been set for the amount of investment in this project.
How to distribute profits
Eco Smart uses the referral process or inviting others to expand its community. Each user receives a portion of the new member as a commission for recruiting subscribers. If the subscribers of this user also add other members to the network, the user will also benefit from bringing them, but the amount of this profit will be less than the first level.
Eco Smart is a 15-level pyramid project. This means that it is claimed that each user will benefit from the entry of new people by subscribing to the 15th level. The greater the distance between the newcomer and the top of the pyramid, the lower the salary of the person at the top. The table below shows the amount of commission received for each level.
|Level||Commission (percentage)||Level||Commission (percentage)||Level||Commission (percentage)|
Each user can only have 3 subcategories and those three users can also have 3 subcategories. This process continues until the fifteenth level.
Of course, not all Eco Smart users can use all 15 of these levels. In the eco-smart system, users are divided into three categories. Users who have invested more than 5,000 Tron are in Plan 1, those who have invested more than 10,000 Tron are in Plan 2, and those who have invested 20,000 Tron or more are in Plan 3.
Those who are part of Plan 1 can only use 5 levels. Those in Plans 2 and 3 can use 10 and 15 levels, respectively. The interesting thing is that to complete all 15 levels (3 people per person), to more than 14,348,000 Member required!
But in addition to attracting members, Eco Smart has a second way to benefit users. In this method, the total number of people in the network is divided into three categories or Swimming pool Are divided.
public swimming pool: Everyone involved in the project will be part of the pool, even if they do not have a subset. Payments in this pool are made weekly; This means that 10% of the total capital that will be entered into the network that week by newcomers to Eco Smart will be distributed among members of the public pool.
Middle pool: This pool is for those who have completed three levels of their sub-categories; That is, a user who has three subcategories and those three people each have three subcategories and those nine people each have three other subcategories. Payment for this pool is made on a monthly basis; Each month, 7% of the new capital invested in the system is distributed among middle pool users. The members of this pool are also part of the public pool and enjoy its benefits.
Retirement pool: Those who complete their 6 levels completely will be in this pool and in addition to enjoying the benefits of the previous two pools, 3% of the total new capital entered in the system will be distributed among them.
Why is Eco Smart a scam?
This project, like all other Panzi projects, uses a subsystem to benefit the branches. There is no productive economic activity or investment. Of course, the lack of productive economic activity is a feature of all Panzi projects, with the difference that other projects at least claim to provide profits to users by investing and doing productive activity; But in this project, it is clearly stated that the profit of users will be provided from the capital of newcomers!
Unlike similar projects like Doubleway, this project has a cleaner appearance and is well decorated. The graphic work done on the two websites Eco Smart and ECS Token is at a high level; But the project is empty of content. No white paper can be found on either of these two websites.
Like all other Panzi projects, in Eco Smart, the benefits of those who entered the network earlier will be paid from the capital of newer users and new users will be affected. But on the project’s website, it is claimed that since the project is a smart contract, it is not possible for the developer or developers to withdraw money from this smart contract. But the question is, if withdrawals are not possible, how will these funds be used to develop ECS tokens?
Also, logged in users have no escape route from the project.
You will never be able to get back the original money you invested in this project in the form of thrones.
Bank of Thrones; Design similar to Eco Smart
Bank of Thrones is structurally quite similar to Echo Smart. In this project, users can invest with at least 10 thrones. There are four different plans for this investment; Diamond, platinum, gold and bronze planes.
In the diamond scheme, each user earns as much as 3.7 percent of their daily capital. This benefit will last forever and this means that your income from this plan will be infinite!
In platinum, gold and bronze plans, each user will earn 4.7, 5.7 and 6.7 percent of their capital per day, respectively. Each of these plans will last for 45, 25 and 18 days, respectively.
In addition, interest is paid to invite others. This profit is 5, 2 and 0.5% for three different levels, respectively.
There is no special useful activity in the Bank of Thrones project. Its scientific and technical nature is unknown; Because there is no white paper and roadmap.
Summary: Participating in these projects = emptying the pockets of ignorant people
The survival of pyramid schemes and the continued profitability of these schemes depend on the arrival of new people, without any economic activity or value creation.
In fact, from a macro perspective, if you participate in this scheme, you have to take the money out of someone else’s pocket and put it in your own pocket to be profitable, according to the advertisers of the scheme, and this is a clear example of fraud in all countries and jurisdictions.
In Panzi schemes, very few people make a profit, but most of the participants end up leaving the system at a loss, and the fate of the system itself will be nothing but collapse.
Both Eco Smart and Bank of Thrones projects are scams in which old users benefit from new users.
One of the most important features of such projects is the promise of astronomical profits, lack of scientific and technical content, lack of roadmap and use of pyramidal and viral methods. Both projects reviewed in this article have all of these features, and their basis is to use users’ ignorance to deceive them.
Remember that it is a crime to engage in any fraudulent scams known as smart contracts, and it is even possible that someone who has lost their assets in these schemes may be found guilty and fined and imprisoned. Be.