The world of cryptocurrencies has indeed made alot of people quite wealthy. There are numerous stories about crypto millionaires who invested in the beginning and made a fortune on their investments.
However, there is one trader who we have not heard of. His name is “Max Carney” and apparently he has some sort of a system that is going to make you a lot of money. We came across Max Carney while randomly clicking on juicy click bait titles on Yahoo news.
Max Carney has a company called “Crypto Wealth” which he claims is a guaranteed way to make rich beyond your wildest dreams. To the untrained eye, this could like an amazing route to wealth.
Yet, it is clear to us that “Crypto Wealth” is nothing more than a binary options scam that is employed by internet marketers to get you to send money to an unregulated broker.
Moreover, it is an internet scam that tries to blur the lines of reality and fiction. Yes, cryptocurrencies have made people immensely wealthy, but this was down to their prudent investments early on. It certainly was not down to some questionable system.
In this post we will break down the Crypto Wealth scam and show you conclusively why it is nothing more than a ruse.
When you land on the crypto wealth homepage, you can see all of the familiar ploys that are made use of. There is a video that plays on auto, a signup form, big numbers claiming many dollars and of course, scam testimonials.
Starting from the top, we are asked how “753 people made $1,950,787” from this amazing software. We have no idea but we are sure that we are about to find out.
Next to the video you have a signup form that has a profit counter above it. Being the inquisitive person that I am, I decided to calculate the rate of profit growth. It seems as though 753 members make about a dollar every second.
That means that each member was earning about 0.1 cents per second. This translates into about $4.78 an hour?? That is below the minimum wage in many countries.
I think I am reading too much into it. After all, it is nothing more than an internet scam and the web developers merely set the profit counter to look functional. I digress…
As one scrolls down the Crypto Wealth scam page, you are presented with a few more glowing testimonials and snazzy marketing garb. Not to let a few sleazy catch phrases throw us off, we decided to take a look at the video.
The video was a weird combination of really comical and slightly depressing. Max Carney starts telling us about some recent market stats of Bitcoin etc.
The choice of name “Max Carney” is also quite suspicious. When choosing pseudonyms for their fake characters, they usually take the names of famous people and try and alter it ever so slightly.
This creates the feeling of familiarity for something that is nothing more than an internet ghost. In this case, the famous person in question is “Mark Carney” who is the governor of the Bank of England.
As the video goes on, our governor of the Bank of BS talks about “Super wallets” in the crypto space. As far as we are aware, there are simple wallets and there are multisig wallets. We have never ever come across a “super” wallet.
Max goes on to explain that these new super wallets are really special. Your $2,000 in daily income is insured! It is “cryptographically insured for future growth”. That is a fascinating concept which I am sure is in the original Bitcoin white paper (it isn’t).
The video then goes on with a whole host of snazzy pics of luxury cars and exotic locations. Max let’s all of the viewers know that the only thing standing between you and that brand new Lamborghini is a “super” crypto wallet.
Max Carney should watch out though, someone may come along with a “super duper crypto wallet” and his business model may be screwed.
Some Legal Disclaimers
We are sticklers for the details and wanted to take a look at the fine print in the legal disclaimers. Taking a look at the risk disclaimer, we were presented with a well written piece that seems to absolve the Crypto Wealth scam of everything.
In fact, the most clear and present sentence in the disclaimer is right in the middle in bold and caps.
This appears to be in direct contradiction of the claims that are made in the video of crypto wealth. I thought that our profits were cryptographically “guaranteed”?
Moreover, the legal disclaimers talks about CFDs and Forex trading? I thought we were investing in super wallets and were not trading the financial markets?
Whoever Max Carney really is, he seems to have hired a good lawyer.
The Next Step…
Not to be sticklers about legal disclaimers, we decided to follow through and enter our details. Putting our full faith in an underpaid actor, we hit “Join Now”.
We were then taken to the next stage of the signup process where Max Carney asked for some more information. This had a great deal more testimonials from members all around the world.
An example is the one below where “Larry” from New Zealand asked whether the system was a forex trading program.
The highly pushy customer support rep at Crypto Wealth quickly dispelled that notion with some really expressive language. Someone should tell him that the flag he is using is the South African and not the New Zealand one…
The new video is Max taking us through his experience when he first got that $4,000 in his account. Using tones that one would reserve for romantic novels, he recounts the unbelievable experience.
He mentions that a member of his team is getting the software ready for us. He also says that we will be directed to his personal broker who will act as a “gateway” for us.
We didn’t know that super wallets needed a broker but then again, we didn’t know that Binary scams were still a thing. We decided to enter our info and watched our phones. We knew that the inevitable was about to happen.
The Broker Call
As if on queue we received a call from a broker. She introduced herself as “Olivia Adams” (I don’t think I will have a problem using their chosen names as the lady on the phone with a strong eastern European accent clearly is not the very English named Olivia Adams!).
After two minutes of trying to work out what the company was called; was it Astro Trade? Asset Trade? S to you Trade? She kindly agreed to email me her details. It was in fact S2 Trade.
I mentioned to Olivia I hadn’t signed up with S2 Trade and she read out my details and assured me I had. I alerted her that I had in fact signed up to Crypto Wealth to earn my millions. She giggled and said they were just one of a number of marketing arms before swiftly changing the topic and asking how much would I like to deposit.
I then asked my favourite question to these unregulated scammers. “Where are you based?” “London of course” came the reply!
As a born and bred Londoner this is always music to my ears. “Great, which part?” “The office building” was the reply. When I started to push for more details on the “office building” and what the closest tube station was, Olivia got somewhat defensive and told me this was private information.
She then put me on hold and the call was taken up by her manager the ultra-aggressive (also strongly eastern European accented) “Ryan Davis”.
Ryan asked me “why do you need to know where in London we are I’ll tell you once you deposit? We don’t want people who aren’t clients turning up. You wouldn’t just turn up at the Queens house would you?”
I did alert Ryan I knew where the Queen lived but he had already moved on to when I was going to deposit and start making real money. “That’s why you signed up, right?””
Like Olivia he read out my details and (aggressively) enquired as to why I would fill this out if I didn’t want to make money.
I asked if they were a regulated brokerage. “Your money is protected by Visa, MasterCard and Apple”. “Apple??? I asked. Pretty sure Apple is not in the regulation business! Do you not have a CySec licence?” Ryan then informed that it was pending but if I knew anything about finance I should know it takes 5 years!
At this point I was getting somewhat bored of Ryan’s lies and told him I wouldn’t be investing. Ryan did (unsurprisingly) get the last word “Don’t waste our time and don’t sign up again”.
Don’t worry Ryan, I won’t.
Should You Invest?
I think the answer to this question should now be abundantly clear.
Crypto Wealth is nothing more than a CFD and Binary Option “make money” marketing funnel. They try to sucker unsuspecting traders into the claws of some unregulated broker out of Eastern Europe.
Once you deposit money with the broker, then this is where your troubles will begin. The broker knows that if you find a sucker, you have a sucker for life.
They will continually up-sell you more services. Ask for more deposits and continually try and pitch you amazing profits. You could even be lucky enough to have the benefit of a “dedicated account manager”.
This is how people get sucked into trading scams. As you hand over your savings, the broker and the affiliate marketer will line their pockets one scam at a time.
Don’t invest with the crypto wealth scam.