SCAM ALERT: Lies, Deception of Zugacoin and why you should not invest

SCAM ALERT: Lies, Deception of Zugacoin and why you should not invest

So once again I was called upon to look into the gruesome deceptions and lies that has been peddled by the handlers of Zugacoin quess what I answered and that is why you are seeing this article, I have written on Inksnation, Racksterli, etc.

Talknlive remains the name and I will be dissecting Zugacoin, the lies being paddled by it, the fraud and so many more. My article are always lengthy so pick a bottle of cold water and flow with me.

History Zugacoin

As first seen online on November 06 2020 with this Website link – Zugacoin.com on that same day the website was updated twice with information relating to the launch of the ICO, whitepaper and other information. The website claims that Zugacoin is Africa’s first coin for equity and investment funding.

History of Zugacoin
History of Zugacoin

The website also carries this information ” Zugacoin is a unique brainchild that aims to rebuild Africa’s dying economy by becoming Africa’s first coin in equity and investment funding for Africa’s government instead of China. Starting a business in Africa can often be a gargantuan task, especially since the prospects of obtaining a loan are few and far between, we will give out loans to aid businesses and encourage investors.

The Zugacoin ecosystem provides the tools, resources and ease-of-use necessary for running a successful business.

Zugacoin says that its Ecosystem will be built on Bitcoin and Ethereum Platform but today the investors are yet to hear about the Bitcoin platform being introduced into the system.

History of Zugacoin
History of Zugacoin

We also saw the roadmap of Zugacoin Where it promised that 100,000 Zugacoin will be offered to public for exchanges January 14th 2021, All theses were seen on the website.

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Zugacoin Roadmap

Zugacoin According to their Whitepaper also said that ” Our target users is the African market. Nobody is left out of our unique project. We are targeting the poor, underemployed and unemployed Africa in the streets that currently exceeds over 400 million people between the age of 15 to 35. We are looking at assisting the African governments in developing our economy using Zugacoin as our major currency and power to success.

So forward to 2021 a new website was launched 19th January zugacoin.io but prior to this the Zugacoin was listed on some marketplace of which the price drop from $44000 to $4.

Investors were asked to buy the coin from Nellabox which is allegedly owned by Zugacoin from inception.

Lies, Deception of Zugacoin

Following the launch of the the new website zugacoin.io the Roadmap was severely changed and then after a week the Sam Zuga Wallet was launched as people were complaining that the price of the coin has dropped to $20. So the App was created to independently create the impression that the coin has value meanwhile it has dropped beyond repair.

zugacoin roadmap 2021
zugacoin roadmap 2021

So foreigners was added to the team of Zugacoin to create the impression that it is not just a Nigerian affair as many people has began to lose interest and want to start raising dust, Mador Soo was added to be the Legals/Blockchain Advisor but recent check on the website shows that he is no longer with the team.

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Karen Lurve who was added to be the Promoter/Marketer is just a Freelance Video creator who charge $10 Dollars for creating Promotional videos on Fiverr. Further checks revealed that her name is Guinto Crampatanta and she is a Phillipine.
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So Zugacoin has in many occasion claimed to be a Poverty eradication hub that will chase poverty out of Africa just like Inksnation claimed sometime ago that in any country they move into in 6 months Poverty will be a thing of the past.
So in bid to draw people attention to rush into investing in Zugacoin, the founder on the 13th of March said Zugacoin can now be used to Buy Innonson cars after few hours of revealing this the Car Company in swift response countered the claims.

Some of the investors in the project seems disappointed as they vent their angers on social media.

Meanwhile some awaits their hope in the withdrawal which is to commence 20th of March 2021 but were all crumbled by the organization asking them to pay for E-PIN.

Investors were asked to pay 50,000 Naira so as to have access to their money. So lets assuming someone invested 20,000 Naira, he or she is then asked to pay 50,000 to have access to his account. This life is not balance at all.

Notwithstanding they were also told that after you make payment of 50,000 Naira you can only withdraw 10,000 Weekly out of the audio Millions in the Sam Zuga Wallet.

Some of this Ponzi Cryptocurrencies are always introduced to Nigerians by Nigerians and they always go with the acronym that their project is from God.

We will continue following the trends, meanwhile be wise when trying to invest your money.

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