Ponzi schemes reshuffle money from investors to pay other investors. The problem emerges because recruitment cannot go on forever eventually it stops and so does the Ponzi. All Ponzi crashes. Dogebank.ltd pretends to be an investment platform that does actual trading. They claim to be involved with ICO (Initial Coin Offerings), mining, etc. The whole thing is a joke and most people know it but decided to invest anyway due to greed.
Watch my video here to see how to easily identify Ponzi scam
At its peak dogebank.ltd was so popular it was registering as many as 15000 daily visits on its website. But now things have gone sour.
Dogebank.ltd has stopped paying
It shouldn’t come as a surprise to anyone. The whole platform looks fishy from the start.
Just take a look at the investment plan.
How can anyone believe that you’re supposed to send dogecoin to a wallet and expect this kind of high return? Even the actual dogecoin cryptocurrency doesn’t have such a growth rate.
Dogebank.ltd is not the same as Dogecoin cryptocurrency. Dogebank.ltd is a scam. Dogecoin cryptocurrency is an actual legit tradable cryptocurrency. You can see the market cap and volume of Dogecoin here. It’s one of the most popular cryptocurrencies out there. Dogebank.ltd is a scam that uses the name doge to exploit the popularity of dogecoin to scam others.
No one should fall for this scam but if you already did, sorry for your loss. Let’s chat on telegram https://t.me/hotcryptochat, Follow this blog, ask questions, follow on Instagram (@Ideasdome), and join our Patreon page to avoid getting scammed. I can’t stress this enough.
Here, we test out different scams so you don’t have to. For example, during our preliminary research of dogebank.ltd, I discovered the domain information of the website is set as private. As an expert scam detective and advisor, that immediately drew my suspicion. Domain information of websites is public for most companies. It tells when the domain name of a website was bought and when it will expire. Scam platforms like to hide this information for at least 2 reasons: To get away with lying about the founding date of the platform and to hide the truth about how long the domain name was registered for. Most scam companies register for a minimum of 1 year because they are never around much longer.
While testing dogebank.ltd, I had to create a new doge wallet to gain access to the platform. Someone new to cryptocurrency could think this was proof that dogecoin cryptocurrency and dogebank.ltd are related in some way. Not true. Dogecoin like any other cryptocurrency is just a currency. It can be used by anyone. It can also be misused and exploited the same way fraudsters misuse fiat currencies like Dollars and Pounds to facilitate fraudulent schemes. That doesn’t mean dollars and pounds are scam currencies. The same applies to dogecoin. It’s a currency that can be used by anyone and can be misused and exploited by scam platforms like dogebank.ltd but dogecoin itself is a legit currency. In fact, I recommend you buy dogecoin and hold it in your dogecoin wallet in the long term.
But flee from dogebank.ltd. And do not be tempted to invite naïve people to the platform using referral links just because the platform promises high referral commissions.
One last thing
Things have really gone down the drain for dogebank.ltd. They used to have a link to their Trustpilot reviews on the dashboard of the website but since they stopped paying and are negatively reviewed on Trustpilot, they’ve now had the link to Trustpilot reviews removed from their dashboard. But if you want to see the reviews, I’ve got you covered. Check it out here.
Cryptocurrency Investments are not all bad
(See my list of recommended investment platforms here)
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