Since the beginning of 2017, Daan van Koelen has been a part of the WGC MLM Scheme, through which arbitrage software was sold to members of the public. Dennis Nowak and Joerg Gehrmann, two former members of the WGC-MLM team, have been vocal about their distaste for the scams online.
What is smart trade coin (STC)?
A fully automated trading platform, Smart Trade Software is available now. It’s a cryptocurrency trading platform that provides software solutions. The app’s pitch is that it makes it easier for users to keep track of their holdings across numerous cryptocurrency exchanges.
- Make use of a central hub for all currency conversions.
- Set up trading robots to make trades automatically.
- Make money by taking advantage of pricing discrepancies between markets, as demonstrated here.
Using Deceptive Advertising to Draw in Investors
With over 46,000 users, Smart Trading Coin ICO’s Telegram channel is inundated with “Fake Paid Articles” promoting the product written by Smart Trading Coin CEO Daan Van Koelen. The Bitcoin news website encourages readers to educate themselves, but we believe they should also perform research on the advertising materials they allow before posting them, as doing so is illegal in most developed nations. Bloggers and journalists could quickly find errors, misinformation, and gaps in the Smart Trade Coin concept by doing their research.
Smart Trade Coin users, it is claimed, can passively and automatically generate a large income. This sounds too good to be true, of course. Neither the platform’s creator nor its staff is publicly acknowledged on Smart Trade Coin. If something goes wrong during the software installation, it could lead to the following:
- You face the danger of having the funds in any cryptocurrency accounts you provide their passwords for stolen. This is the most likely outcome due to the reasons we outline below.
- It could be a Ponzi scheme, in which early investors profit at the expense of later ones. At that moment, the original crew may abscond with all user funds.
- It could be a joke app or mock cryptocurrency. Since it seems to have been thrown together quickly, we wouldn’t be surprised. Finally, as of the year 2021, they still haven’t admitted that it was all an elaborate joke.
- Additional speculative possibilities exist as well. This company may, for example, be legitimate and beneficial to its clients. This is completely unbelievable.
Whitepaper members include Smart Trade Coin CEO Daan Van Koelen and his team.
- Dennis Nowak– Dennis Nowak’s resume conceals his true history by failing to mention that, since 1994, he has worked largely in multi-level marketing. Dennis Nowack’s book How to Become a Millionaire detailed his multi-level marketing (MLM) success story. There is no doubt that Dennis Nowack plays a key role in the Lavylite MLM scam.
- Waldemar Reimer is another well-known multi-level marketing ringleader. He goes into great depth on his YouTube channel about his participation in the Kairos Technology multi-level marketing scheme.
- Joerg Gehrmann is another seasoned multi-level marketer; he worked with Dennis Nowack to promote Lavylite, a fairy dust spray sold through the MLM model.
- Daan van Koelen– Since the beginning of 2017, Daan van Koelen has been a part of the WGC Multi-Level-Marketing (MLM) Scheme, through which consumers purchased arbitrage software.
Smart Trade Coin’s CEO, Daan Van Koelen, has been exposed for running a fraudulent business.
These examples show why you should be wary about investing in Smart Trade Coin:
Claims Without Foundation:
Arbitrage across markets is possible and may bring value. However, in practice, this would be extremely difficult to achieve:
The vast bulk of the value will be lost as fees to the two exchanges involved in the trade.
Arbitrage profits, no matter how little, are vulnerable to the tremendous volatility of bitcoin prices.
Even if the corporation possessed the capability to consistently create profits through arbitrages, it still wouldn’t go after regular investors. Its main functions would be fund-raising and vast arbitrage. Therefore, it would generate more value while reducing the requirement for its existing level of advertising. Therefore, it is highly unlikely that the company can rely on arbitrage to consistently generate profits.
Deceptive Marketing:
Advertising a product with false or exaggerated claims is an example of misleading marketing, also known as deceptive marketing. Companies often employ misleading advertising to sell products by making claims that are at odds with how the products work or look. Any action taken by a company that is intended to, or has the foreseeable effect of, misleading or deceiving its customers or other businesses is unlawful. This statute remains in effect even if you did not intend to deceive anyone or if no harm was caused by your actions. To me, this reads like a perfect example of how to sell a scam.
Opaque Business Practises:
Lack of transparency in business dealings; no background knowledge about the company’s founders is provided. The founder’s age is also listed, but no other qualifications are provided.
Also, observe that they have the wrong nationality listed in their address. We need to use “and” instead of “an” here. No company has ever misspelled a country’s name in front of me.
They are vague about their financial backing. However, they have begun buying visitors via pay-per-view platforms like CoinPayU.
Negative App Store Reviews:
User complaints posted on app stores Nearly half of the reviewers have dubbed them scammers.
Several People Lost Up To 95% of Their Savings:
Some investors say they lost 95% of their money, and there’s no way to verify that the Smart trading coin team didn’t steal it. Why these users would make up stories about losing money is incomprehensible. If they aren’t promoting some other cryptocurrency or investment method, then why would they make up fake losses?
Company Accepted Users Lost Money:
The company has acknowledged that users suffered financial losses and has offered many explanations, including its use of leverage, for why certain users had such severe losses. There is no evidence to support their allegations. Most of the money utilized to support the STC system was probably just taken by the STC staff. We cannot be sure of what happened because of their dubious business practices, but it would be unwise to invest in them now, especially in light of this episode.
They also launched the coin on a single trading platform. The graph below demonstrates the coin’s declining value over time. Given what we know about the organization, we don’t expect the coin to be very valuable.
The Arbitrage software is sold by WGC-Network
Many thousands of dollars were made using the Infinity Economics MLM framework, but the pre-sold arbitrage software was never delivered and did not work as advertised.
During the Smart Trade Coin pre-sale period, a special WGC bonus offer was set up to give WGC partners a 150% bonus on top of the initial investment. In addition, for a minimum investment of $300, participants might receive a portion of the WGC’s additional pool of 99,000,000 tokens. We also saw how the STC Token Sale was related to the WCG MLM scheme. By the way, the STC token Sale white paper makes no mention of this special deal, the extra 99 million token pool, or the WGC network.
The STC ICO White paper makes no mention of the exclusive bonus or the number of 99,000,000 tokens. The idea is nothing more than an ICO fraud orchestrated by MLM con artists.
Daan Van Koelen, Smart Trade Coin’s CEO: What is Whitepaper?
Whitepapers are in-depth, authoritative publications that describe a problem and propose a solution to that problem. Whitepapers are written by marketers to inform readers on a specific topic or to advocate a specific strategy. These solutions manuals are extremely technical.
CEO of Smart Trade Coin, Daan Van Koelen, Responsible for Providing Inaccurate Information in Whitepaper
If a seller misrepresents the nature of the goods they are offering for sale, they may face legal consequences. Everyone who is considering buying a product has the right to know everything there is to know about that product’s condition. Every buyer needs to have faith that the vendor is being forthright about the quality of their wares. If a vendor deliberately misleads a buyer about the nature of the goods or services they are offering for sale, he may be committing fraud. Therefore, if prospective buyers of Trade Coin tokens are given false and misleading information, the sellers could be held liable. Please do your research before committing resources to this venture.
Putting a Stop to Scammers Like Daan van Koelen.
App stores require a method to verify that popular programs are backed by legitimate companies to provide users with a reliable service.
App stores like Google Play presently profit from apps due to the positive effects they have on their ecosystems. It is irresponsible for app stores to not provide even the most fundamental verifications for programs with dozens of ratings, leaving users vulnerable to fraud and data collection scams. It is unacceptable if this continues.
You should stay away from Daan van Koelen-style scammers.
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