Website & Company Information
The company has provided an incorporation certificate in its website claiming to be registered in Singapore.
The website was registered in September 2019, privately. It is quite interesting to see the company claims of having been operating since October 2018. We couldn’t find any digital footprint of the company dated 2018.
However, The incorporation certificate on the website corresponds to “WB Develop and Technology PTE. LTD.”, and was registered on January 22nd, 2019.
The company has been using Fiverr actors to make its marketing videos.
Now as always the question is if the company is not transparent and has dozen of lies and manipulative data present on its website then do you really think it deserves your money?
WBank Wallet’s Products
WBank Wallet has no products or services to offer. The company has only its affiliate membership plan focused on pumping users into the system.
The company affiliates deposit cryptocurrency (Etheruem) to receive WBT tokens. Once the affiliate has bought WBT tokens, they are advised to park their tokens in the WBank Wallet in order to be eligible for daily advertised returns:
- Package 1 — invest $100-$300 worth of ethereum and receive 0.2% to 0.5% ROI daily
- Package 2 — invest $3100 or more worth of ethereum and receive 0.5% to 1% ROI daily.
The company has an in-house exchange that allows affiliates to convert their earnings to USD and cash out anytime.
The company also pays Referral Commissions and VIP Leader Bonus (based on tiers). The earnings can go from 1% bonus commission on daily downline returns to 5% bonus commission on daily downline returns.
The company doesn’t charge anything for one to get an affiliate membership. However, full participation in the attached income opportunity requires a minimum investment of $100, paid in ethereum.
The company has been successfully marketing itself as one of the most significant investment trends in 2020 and also promises a handsome return of 6%-30% per month on their website.
WBT token has no use case and was only introduced into the company ecosystem to create an illusion of a successful crypto project working with a ‘real token’, but in reality, people are required to buy the token and park it in the wallet to get daily returns.
WBT Tokens may have infinite supply because the owner of the smart contract keeps generating tokens based on demand makes it worthless.
The company can pay fifty uni-level team levels because the owner can generate as much as WBT token as they want. It doesn’t cost anything to issue new tokens on a pre-programmed smart contract.
The company’s whitepaper had also promised to publicly list it’s token in 2019, which still haven’t happened yet and you know why.
The company is also committing securities fraud because the Monetary Authority of Singapore regulates securities in Singapore and WBank Wallet is not registered with MAS. There is no evidence on the website of registration with financial regulators in any jurisdiction.
It is quite evident that the company will exit-scam soon once the owners of the company are done with their victims.