DESCRIPTION OF EVENTS
"Following months of misappropriating ESPN branding to shill their Ponzi scheme, Espian Global has collapsed."
"Now the anonymous scammers behind Espian Global have rebooted as eOracle."
"e-Oracle is an Organic global Knowledge Network sustained by a portfolio of top tier Blockchain use-cases."
"e-Oracle is an educated global community using a proprietary and innovative decentralised platform to access a highly vetted pipeline of blockchain startups, The e-Oracle Use Case. The e-Oracle User is sharing in a unique wealth building model that exponentially distributes knowledge and wealth. Our 5+ Million plus e-Oracle Users is the Unicorn and our model our USP."
"Blockchain system verifies and supports extreme levels of simple transactions and this enables players to engage in battles and win money. Take part in the competition and be rewarded for your winnings in the safest way possible."
"Welcome! At e-Oracle you can join an exciting and lucrative family of entrepreneurs building their financial future on a sustainable ecosystem of first tier Blockchain use cases. Simply select from our Platform Dashboard one of many economical memberships to get started today and join our first class family of global networkers, where you can learn, earn grow your business."
"e-Oracle unites the cryptocurrency industry with the Online Gaming sector. Take your place, start earning rewards. Take advantage of cryptocurrency mining, staking and spend your daily earnings with your Peywey Mastercard Crypto."
"e-Oracle's primary business function is providing the framework to incubate and accelerate the "best of bread" blockchain startup projects, and with success of this function, our e-Oracle Users participate in wealth generation directly from our DEFI, Yield Farming and Lending Ecosystem."
"With e-Oracle you can accelerate your success. Attend international events, meet leaders who are making a difference. Be inspired and listen to their success stories. Thanks to Referral Marketing you can impact millions of people and contribute to their growth. With this system combined with e-Oracle Global's products and services, you can provide real solutions to the market and be recognised as an e-Oracle Ambassador to the world."
"Like Espian Global, eOracle’s website provides no verifiable information on who owns or runs the company." "eOracle’s website domain (“e-oracle.com”) was privately registered on May 31st, 2021."
The CEO is not named. The signature provided however reads “Edgar Ariel Gavilan Gonzales”.
"On LinkedIn Gonzales represents he is from Colombia. Gonzales’ LinkedIn profile cites him as a “Business Developer” for M2R Technology." "M2R Technology is a dead tech company based out of Colombia."
"At the time of publication Alexa ranks India as the only notable source of traffic to eOracle’s website (67%)."
"eOracle has no retailable products or services, with affiliates only able to market eOracle affiliate membership itself."
"eOracle affiliates invest funds on the promise of advertised returns. eOracle offers four investment tiers, each with seven levels within the tiers."
"eOracle affiliate membership ranges in cost from $50 to $30,353 paid annually. The more an eOracle affiliate spends on membership, the higher their income potential."
"Once again when recruitment tanks, like Espian Global did eOracle will also collapse." "The math behind MLM Ponzi schemes guarantees that the majority of participants lose money."
As of November 10th, 2021, "Indian authorities have identified a trio of scammers they claim are behind FomoEX, Espian Global and eOracle."
"The arrested suspects are Raghavendra, Nagaraju and Shivamurthy. All three reside in Bangalore, India."
eOracle was supposedly investing in various blockchain startups. In reality, there is no evidence that any funds were invested. The site appears to have run for a short time before disappearing with any invested funds. There is a report that 3 of the founders have been arrested in India.
HOW COULD THIS HAVE BEEN PREVENTED?
Experienced cryptocurrency users can typically tell what's fraudulent, however this takes practice, so it's always best for new participants to err on the side of caution, and avoid investing in most services.
To prevent such ponzi schemes, our framework provides that 2 industry reviews should be conducted of each proposed new service, by knowledgeable organizations. Regular reviews should also be conducted to ensure that all customer assets are fully backed, which prevents ponzi schemes since the key component is that funds are no longer backed.
Home | e-Oracle (Feb 23)
eOracle Review: Espian Global reboot with new Ponzi token (Feb 23)
About Us | e-Oracle (Feb 27)
Ecosystem | e-Oracle (Feb 27)
FomoEX Ponzi admins arrested in India (eOracle too) (Feb 27)
https://www.thehindu.com/news/cities/bangalore/cryptocurrency-scam-3-held/article37374709.ece (Feb 27)
e-Oracle MLM Closing After 150% ? #eoracle - YouTube (Feb 27)