Below we explain what this fraud consists of, which is mainly based on a pyramid or multilevel system or also a Ponzi scheme , and makes use of cryptocurrencies such as USDT (Cryptocurrency associated with the Dollar). It is currently widespread and affects thousands of people from every country in the world.
It is a web and mobile application that is fraudulently impersonating major online commerce trademarks such as Aliexpress, Amazon, Alibaba, Ebay, Gmarket, TaoBao, Broadway and others .
There are dozens of replicas of these applications, the best known are called Gmarket, CjonStyle, Asda, ASOS and Aliexpress . They are installed on newly created domains such as www.gmarket38.com , www.asda667788.com , www.aliexpress7777.com , www.cjcjapp.com , among others.
In the case of the Gmarket application, if we visit the company section of the application itself, we can see that the content has been fraudulently copied with the official data of the Gmarket company. In this way they make users believe that it is an official application of this multinational company.
From these applications you can only access with an invitation sent through another user who is already registered. Therefore, access is not open, nor is it available to anyone who wants to enter without an invitation.
Once you register in the application, you become the subordinate of the user who invited you, and from that moment you can send invitations to those who will be your future subordinates. In this way, the team is formed with a pyramidal structure or the purest Ponzi scheme, and they will acquire supposed profits from commissions of the operations carried out by each of the subordinates . This is really the fundamental pillar of the economic structure of this macro scam. The more people are invited to use the application by depositing money, the higher the commission earnings of those subordinates.
The application supposedly allows access to a series of official online commerce markets such as Ebay, Aliexpress, Amazon, Gmarket, TaoBao, Broadway, Alibaba, etc… Where a series of purchase and sale operations of products of various kinds can supposedly be carried out. categories such as electronics, clothing, beauty accessories, lingerie, among others. When carrying out these supposed operations, profits are obtained by commissions between the purchase and sale of these products. Basically what this organization of scammers wants to imply is that the user acts as a kind of intermediary between these operations using the money that is deposited in their account. In this way, the user thinks that he is financing some operations of purchase and sale of materials to the company.
The most curious and really the most suspicious thing about this system is that money is never lost during operations. You always get to earn money from commissions and the user never risks any amount of money from his deposit. The user believes that he is facing a perfect trading system and that he is going to earn a lot of money.
Obviously, in order to carry out these supposed operations, the user must have deposited money converted into the USDT cryptocurrency . The conversion of the local currency to cryptocurrencies can be done from applications such as Binance .
Access to these markets is restricted by user levels. The levels range from level 1 to level 4. Depending on the number of users who have been invited and they have deposited at least 100 USDT. It also depends on the minimum deposit of money that the user has in the account. If you meet the requirements of each level, you can go up levels. At a higher level, a higher percentage of commissions (from 0.26 to 0.32% per operation) and maximum limits on daily operations ranging from 50 orders to 70 orders.
Every time the user performs daily operations, he is supposedly earning higher and higher commissions that depend on the total deposit he has at that time. Days go by and money multiplies exponentially and extremely fast. At the same time, you are earning daily commissions for the subordinates that you have put in, so you are encouraged to continue inviting more users, and the latter will do the same.
Little by little a team with a large structure is being formed and the organization is receiving thousands and thousands of USDT from the deposits of these users.
The application, in addition to having the option to continue depositing USDT, also has the option to withdraw money from that deposit to your Binance account or the one the user is using. Later, the user can convert that cryptocurrency into the local currency and transfer the money to their bank.
So far, everything seems perfect!
Users think that they are the luckiest people in the world to have entered this circle. They thank each other for inviting themselves to this wonderful application with a perfect trading system. In fact, to get an idea of the supposed high level of profitability, we have seen how users with deposits of 7,000 USDT, supposedly generated around 3,000 USDT a week for the orders placed.
However, since the more money you have on deposit, the more money you will generate daily, users get into the ambitious loop of not trying to transfer part of their deposit to their bank account. They feel the desire to generate more and more money daily so that their deposit grows and thus will generate even more money every day. This circumstance is precisely what this scam organization is trying to do. The longer it takes the user to try to get their money, the longer it will take to realize that this is all a hoax. Therefore, more users will have been invited by him, and these, in turn, will deposit a lot of money encouraged by the supposed earnings of the user who has invited them.
Most of the profiles that are falling for this scam are young people (we could say between 20 and 45 years old) who are vulnerable to falling into the mistake of believing that for the first time in their lives they are earning large amounts of money and that this system it will last a long time. Many even quickly condition their lives to a supposed high standard of living that they believe they will lead in the coming months.