Prance Gold Holdings Review: Scam Wants to Exit - Topedgefx.com

Prance Gold Holdings Review: Scam Wants to Exit

Prance Gold Holdings is a site that announces risk-free and attractive returns to investors of Bitcoin Cryptocurrency.

We know that risk-free investing is not possible in this planet as even the best trading tools out here only guarantee up to a certain risk-reward.

Moving forward, the company is operating out of South-East Asia under the domain prancegoldholdings.com.

A quick who.is check reveals that the site was registered in May 2019.

Another quick background check on the internet archives website reveals the site started active operations on the 28th of March 2020.

Prance Gold Holdings is touting short-term investment options ranging from 7 hours to 180 days.

Prance Gold Holdings Review

Minimum investment is just $1,000. However, there are reports that the site has also solicited as much as $30,000 from a single investor.

Promotion materials on this website claim that Prance Gold Holdings is involved in high speed arbitrage trading using their so-called PGA proprietary trading algorithm.

The supposed trading activity happens in exchanges like Binance, Huobi and Bittrex Global via an API.

This PGA trading algorithm is time-tested and is supposedly 100% risk-free.

When investors put in their Bitcoins equivalent to $1,000, they’re not supposed to lose any money but make profits 24/7.

Isn’t this offer too good to be true?

Let’s find out what Prance Gold Holdings is really up to and how far they’ve gone.

Prance Gold Holdings review

The company’s website is your typical worldmarkets.com design.

The company is listing ANDRE GERALD as the CEO and JACOB COULSEN as the COO.

All of these guys are fictitious officials of the company.

A quick research reveals that they are actually actors.

This is a bizarre finding, considering that this company has managed to make a very convincing presentation, from the design of their website, all the way to what they claim to do.

My understanding is that Prance Gold Holdings is run by fraudster from China.

This is the only reason they want to be faceless, hence the use of hired actors.

That being said, the company was promising investors a ROI of up to 600%.

At the time of its launch, the site was getting most of its traffic from Japan.

Around November of 2020, traffic to the Prance Gold Holdings website started to plummet.

This raises the question of whether investors suddenly realized that the operators were playing games.

Did Prance Gold Algorithm (PGA) stop working?

For the site to witness a quick surge in traffic in a short time, the owners must have promoted it aggressively and also given investors a good reason to keep “investing”.

The narrative paints a picture of a supposed trading algorithm called PGA.

It’s supposed to scan 1000s of trading pairs in a single exchange to find profitable positions.

The PGA algorithm has multiple of its exact copies spread out across the 3 exchanges.

It utilizes triangular arbitrage strategy to map out volatility between trading pairs.

The process is supposed to be completed in milliseconds.

Therefore, it can only “make profits and not a single loss”.

The question is, did the company offer any ROIs as advertised earlier? Yes they did.

But later on, ROI payouts stopped, and this is probably the reason traffic to the website began to plummet.

A revival using 45% monthly ROI campaign

Soon the scammers realized that investors were panicking, so they launched a campaign where investors were supposed to start earning 45% ROI in October 2020.

On the 1st of October, the site stopped processing payouts, citing festivities in China.

By the way, these celebrations end on 7th of October. So did Prance Gold Holdings resume the payouts?

According to investors’ reports, no payouts were forthcoming.

On the 12th of October, the company went ahead to encourage more withdrawal requests, probably to create a veneer of legitimacy.

The withdrawal dates were pushed to the 15th but as usual, investors were never paid.

Shortly afterwards, the company put up a bullshit announcement, citing reason to do with their accounts being investigated by US authorities.

Prance Gold Holdings on why they don't issue payouts

John McAFee is being used as a scape goat

Shortly after John McAfee’s arrest in Spain, an indictment was announced, charging him with tax evasion and willful failure to file returns.

The report indicated that McAfee was earning millions from promoting Cryptocurrencies and working as a consultant.

Indeed there was a report in October 1st of the same year, announcing efforts to curb Cryptocurrency fraud.

I must add that in this report, there were no new laws or enactments pertaining to Cryptocurrencies that would have prompted Prance Gold to stop the payouts.

In short, the report had nothing to do with this company or its faceless operatives.

As to why Prance Gold is or was not able to process withdrawals, they cited reasons to do with suspension of their accounts in the 3 Crypto exchanges where they operate.

This is complete baloney, as neither Bittrex, Huobi nor Binance have issued a statement confirming what Prance Gold is claiming.

Prance Gold Holdings is a ponzi scheme

Forget their PGA narrative. This company does not trade Bitcoin or any Crypto for that matter.

It was actively involved in a ponzi scheme business where as soon as revenue dwindled, the scammers couldn’t pay out anymore.

In as much as the official website is still on and accepting Bitcoin deposits, they are not openly announcing to investors that once money is in, no going out.

Conclusion

The website is clearly employing well-known ponzi scheme tactics by fraudsters.

Truth is, it wants to collapse. The founders are planning on how to run away with the money without bringing it to the attention of authorities.

The statement which they issued on their website was to calm investors with the illusion that the company would soon return their money.

What you should know is that we are in the early 2021, and payouts are not being processes still.

What this tells me is that the website will either close down or the owners will be basted in their own game.

Stay tuned and thanks for reading.

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