May 2021 - Qubit Life Ponzi Scheme - $Unknown (Global)
"Taking a leap towards the Quantum Future. The main mission of QubitLife is to provide its users with effective ways to receive royalty payments from the use of quantum technologies."
"The main goal of QubitLife is to reach platform's capitalization value of 10 billion USDT and grow its users base to more than 10,000,000 users by 2025."
"The development ideology of QubitLife implies the creation of its own unified ecosystem based on quantum technologies, as well as distribution of platform resources among its users."
"The main mission of QubitLife is to provide its users with effective ways to receive royalty payments from the use of quantum technologies, as well as to grant its users with an exclusive access to its strategic partners' platforms."
"The main goal of QubitLife is to reach platform's capitalization value of 10 billion USDT and grow its users base to more than 10,000,000 users by 2025."
"QubitLife already uses the advantages of quantum technologies, gaining a serious advantage over the competition by adopting quantum neural networks data processing and applying computing power of quantum algorithms. Such implementations allowed to significantly improve the accuracy of analytical data acquired used for development, set up and adjustments of algorithmic systems, and as well as generally improve the efficiency of platform operations."
"QubitLife initially marketed their “big webinar” as being hosted by CEO Greg Limon and Chief Marketing Officer Marc Swickle."
"Speaking of collapses, it should be noted that victims of QubitLife, another recently collapsed Ponzi scheme, are being funneled into eOracle." "Neither [Greg Limon nor Marc Swickle] turned up, leaving Global Master Distributor Iakov Ashurov to deliver the bad news."
"Following a lavish event held in Dubai for its top net-winners, QubitLife has informed the rest of its affiliate-base, over a quarter of a million victims, that withdrawals have been suspended."
"QubitLife collapsed on May 26th. Five days later Espian Global collapsed and was rebooted as eOracle."
Further Analysis
Qubit Life was a multi-level marketing scheme with no realistic product or service behind it. On March 26th, 2021, the platform collapsed and all funds were lost.
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.
More Cryptocurrency Exchange Hacks/Scams/Frauds
JulSwap Wasn't Hacked > > < < AutoShark Economic Exploit
Sources/Further Reading
eOracle Review: Espian Global reboot with new Ponzi token (Feb 23)
Qubittech - Home page (Mar 3)
Qubittech - About (Mar 3)
https://ca.trustpilot.com/review/qubit.life (Mar 3)
QubitLife collapses; no withdrawals & CEO Greg Limon MIA (Mar 3)
Your Money Is Gone! | QubitLife Exit Scam Update - YouTube (Mar 3)
https://www.crunchbase.com/organization/qubit-tech (Mar 3)
qubit.life Archives - investgenix (Mar 3)
QubitLife: Отзывы и обзор Qubit Life [СКАМ, НЕ ПЛАТИТ] (Mar 3)
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