Yesterday an acquaintance of mine sent me a message on Whatsapp. He wrote me that someone offered him a “cryptocurrency” called MetFi. Since he knows that I know the cryptocurrency industry well, he asked me if I’ve heard of it before and if I think it’s a reliable cryptocurrency. I replied with laughter emojis 🤣🤣 and told him to let it go. According to Behind MLM, MetFi is a Ponzi scheme.

It is being promoted by former Onecoin promoters Staffan Liback and Stephan Steinkeller. The latter together with his two brothers is under investigation in Italy for financial crimes. Italian prosecutors allege the Steinkeller brothers and promoters who worked under them stole over $10 million from Italian investors.

Often all these platforms are illegal in all countries and have no authorization to operate from the competent authorities. Ponzi schemes promoters widely use social media to recruit people and they leverage typical network marketing phrases: “be your own boss” or “millionaire lifestyle” or motivational phrases and famous quotes from important entrepreneurs. In the bio of the promoters on Instagram read “DM for info”. I show you below one of the stories I saw on the Instagram profile of one of these fools that are recruiting people in Italy in this period.

TRANSLATION:
14,725 members in 90 days
What do you think will happen in 1 year with the top players in the world?
You can still be among the first of this huge movement.

The ten investment tiers envisaged by Metfi are:

• Shrimp — 100 BUSD (receive $10 worth of MFI tokens, invested on the promise of a 100% annual ROI)
• Crab — 200 BUSD (receive $20 worth of MFI tokens, invested on the promise of a 200% annual ROI)
• Octopus — 400 BUSD (receive $40 worth of MFI tokens, invested on the promise a 300% annual ROI)
• Fish — 800 BUSD (receive $80 worth of MFI tokens, invested on the promise of a 400% annual ROI)
• Dolphin — 1600 BUSD (receive $160 worth of MFI tokens, invested on the promise of a 500% annual ROI)
• Shark — 3200 BUSD (receive $320 worth of MFI tokens, invested on the promise of a 600% annual ROI)
• Orca — 6400 BUSD (receive $640 worth of MFI tokens, invested on the promise of a 700% annual ROI)
• Whale — 12,800 BUSD (receive $1280 worth of MFI tokens, invested on the promise of an 800% annual ROI)
• Whale Shark — 25,600 BUSD (receive $2560 worth of MFI tokens, invested on the promise of a 900% annual ROI)
• Humpback — 51,200 BUSD (receive $10,230 worth of MFI tokens, invested on the promise of a 1000% annual ROI)

(I know you are already laughing. It seems to be in the movie Finding Nemo. OMG. I can’t believe anyone is putting money into this bulls**t.)

Looking on their website and on the WhitePaper there is no information on the founders, the team and the roadmap. However, we read that there is an affiliate program.

“MetFi’s affiliate program is probably the fairest, most powerful, most transparent affiliate program ever created. Anyone can participate and everyone earns money, whether they choose to be active or passive participants.” (Then I would add the clown emoji 🤡 in the back). Searching the internet I also found the compensation plan in Spanish language. Usually the compensation plans of these Ponzi schemes are too unbalanced and unsustainable in the long term. Then 5 income streams are indicated (ANNUAL PERCENTAGE YIELD (APY), MATRIX BONUS, MATCHING BONUS, FAST START BONUS, TOKEN STAKING BONUS).

Also at the bottom of page 45 of the Whitepaper is written a rather cryptic sentence: “MetFi is growing rapidly and while all efforts will be made to stop bad actors from gaining an official role some bad actors may slip through the cracks to deceive you and steal your assets so always be suspicious and always proceed with extreme caution.”

This is all very suspicious. Don’t give these fools any money. If someone has already recruited you, report them to the appropriate authorities. Needless to say that after the pump and dump all the top promoters will disappear as usual. Many people will lose their money and notice it when entering their back office they will see the message: Error 404 not found.

Remember: stay away from these scoundrels and also from influencers who give financial advice on Instagram. When you have to evaluate a crypto project, use the 5 criteria I explained in this article and Do Your Own Research.

Don’t get fooled by these scammers !!

Leave a comment below and tell me if someone have already offered you MetFi or another bulls**t like this. Consider this space a place to talk without censorship.

A winner is a dreamer who never gives up.

Disclaimer: I am not aware of any third party rights on the images used. I undertake to cite the source if there are any and to adjust the position if requested.

Disclaimer: Trading cryptocurrencies carries a high level of risk and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives and your level of experience. Do Your Own Research. All opinions expressed here are owned by the respective writer and should never be considered as financial advice in any form.

ABOUT THE AUTHOR

CRYPTO_ALBERT

EDITOR-IN-CHIEF AT NEW COIN POST. I HELP PEOPLE TO UNDERSTAND BETTER THE CRYPTOCURRENCY SECTOR AND ITS PURPOSES.

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