Fintoch claimed to hold a public event in Dubai. An old trick for the Ponzi scheme.

WikiFX previously made an article about Fintoch; we suspect it is a Ponzi scheme. For more information about Fintoch, you can check the link below.

Breaking: Fintoch, a blockchain platform, is reportedly a Ponzi scheme.

On May 24, 2023, renowned on-chain detective ZachXBT on social media exposed publicly that Fintoch, a blockchain financial platform, get involved in a potential Ponzi scheme. This article delves into the controversy surrounding Fintoch and highlights key warnings issued by prominent entities in the financial industry.

News 2023-05-24

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FINTOCH is getting involved in a Ponzi scheme, which has been under fire for allegedly taking in money under the guise of lending money, collapsed less than a year after it was founded. It is understood that the company claimed to cooperate with Morgan Stanley Bank, focusing on the blockchain financial market.

FINTOCH's Twitter account was only established in May 2022, and even though it is followed by about 70,000 people, the average number of likes per tweet is only three. Obviously, these are paid followers to fake the corporate image and gain investors' trust.

In its last three tweets, Fintoch has highlighted his success in hosting events in Dubai. We think this is a familiar tactic in a Ponzi scheme. They want to pretend to be high profile, to reassure investors about them. Some facts, however, cannot be solved by disguising, not least the inability of many victims to withdraw their funds. The company has defaulted on many investors' money.

According to report, FINTOCH's team leaders started to prepare abscond with the money a few months ago, but because the platform appeared to be operating normally and the high profits were so attractive, many investors were reluctant to put up money too quickly and didn't believe FINTOCH is a scam. By the time they saw the crash, it was too late.

Conclusion

WikiFX wants to remind investors that no matter whether brokers set up branches around the world, look for celebrity endorsements, or organize charity activities, these are all marketing strategies of brokers, and traders should not invest in these brokers without deep analysis. On the whole, FINTOCH cannot be trusted. There are not only activities and studios everywhere, but also large and small conferences. How can an investment that can double and double in just a few months support the money of so many people？ In fact, the truth is not difficult to understand, but in the face of interests, it is really difficult not to be confused.