ibg.finance Review: IBG Finance Ponzi Scheme - Topedgefx.com

ibg.finance Review: IBG Finance Ponzi Scheme

Welcome to the iBG Finance review. IBG Finance is a ponzi scheme that masquerades as a legitimate DeFi aka Decentralized Finance project.

This is the number 1 disqualifying reason for not including the company in our list of the most profitable, reliable trading and investing platforms.

The business is currently selling iBG tokens and promising investors that the growth of the token will be guaranteed by demand, partnerships and token burns.

Ibg.finance is also providing a Seychelle-based physical address but my research shows that this address is being used by several other shell companies.

This makes IBG Finance lose its credibility. Their website sounds genuine but we have to understand that this is the general sales language of a typical ponzi scheme in 2021.

IBG.Finance Review: What it is all about

First of all, IBG Finance is banking on the fact that many investors are unable to navigate the complex world of Cryptocurrency investing.

Secondly, their website claims that IBG.Finance will provide a platform that provides recommendations on where to invest and if this is not the best choice, they can still offer AI investing where portfolios are allocated according to your investor profile.

IBG Finance claims that their platform is bringing AI to the blockchain. The truth is that these claims are all over the internet and this is nothing new as far as blockchain investing is concerned.

To get started, iBG.Finance requires investors to purchase iBG tokens from their website.

The “smart engine” will allegedly take over to build your personalized investment portfolio based on your profile.

In the process, your tokens are converted to “stable coins” and invested in various decentralize finance protocols.

According to the company, all of these activities are undertaken by a Robo Advisor. A Robo advisor is basically a trading algrothim that is programmed to take actions according to certain laid out rules.

This means that the automated program must also involve experienced traders and investors.

Naturally, we should be curious of which people are behind the alleged automated trading robot. Here’s what we know:

Owners of IBG Finance

The website has listed a number of supposed contributors to this project.

I shall focus on the one and only Mr. Vin Menon. Vin Menon has claimed on his Linkedin profile that he is based in Singapore.

It is suspected that he has been involved in MLM activities in the past. Based on our research, it is evident that IBG Finance is being operated from Singapore as opposed to Seychelles. This is because the Sychelles address that this company is using is tied to many other shell companies. It is basically a virtual address.

The products or services that this ponzi scheme provides are as follows:

1.Parked IBG tokens in 30 days will earn 5% return on investment

2.Parked IBG tokens in 60 days will earn 6% return on investment

3.Parked IBG tokens in 90 days earns 7% return on investment

On the other hand, the compensation plan is generally paying based on affiliate activities. You have to refer at least one person to earn the least affiliate commission in the program.

Ultimately, all affiliate commission is in IBG tokens. This is where the problem begins.

Conclusion

I said there is a problem in the last paragraph. Indeed iBG.finance is a ponzi scheme paying members using iBG tokens.

The website promotes itself as a Cryptocurrrency wealth management app.

There is evidence of desperate attempts by Vin Menon to get involved in the MLM niche. His past MLM projects failed. He would like to give it a try a second time. This is why he formed iBG.finance project.

The iBG token is built on the ERC-20 token but it is a worthless coin. This means the ROI that can be paid out will only come from the newly invested funds.

Without the new funds being injected, there is no ibg.finance. In the end, investors will withdraw from the project with all their losses and disappointments because they will ultimately realize that this is a Rolla coaster ride and a scam.

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