Following the suspension and subsequent restriction of withdrawals, HomesCNL has announced its CNL token exit scam.
HomesCNL disabled withdrawals at the beginning of July. Some nonsense concerning API software was offered as a justification.
The business declared on July 21 that it would resume withdrawals with newly enforced restrictions.
The minimum withdrawal amount was cut to $50, and daily withdrawals were limited to $1,000.
While HomesCNL restricted the outflow of funds from the Ponzi scheme, the $5,000 investment cap was increased to $50,000.
On August 1st, the minimum investment amount will increase from $50 to $500.
HomesCNL is a relaunch of the defunct Ponzi scheme, CryptoCNL. The introduction of the CNL token and a new marketing gimmick distinguishes the two cons.
According to June 2022’s coverage of the HomesCNL revival, this time, when the Ponzi scheme collapses, HomesCNL will exit-scam by handing out tokens.
This enables them to milk unwary investors for a little longer rather than simply fleeing. HomesCNL’s announcement on July 21 also disclosed the eventual CNL token departure fraud.
With CNL TOKEN, withdrawals will soon be possible. The CNL Token is still available for purchase in the back office for $0.50.
Paying out in CNL tokens, which HomesCNL creates out of thin air on demand at no cost, enables the Ponzi scheme to cease directly paying out in bitcoin. Due to the fact that the CNL token has no value outside of HomesCNL, they will still need to indirectly cover withdrawals (affiliates converting CNL into bitcoin or something else).
However, by accepting CNL tokens as payment, HomesCNL is able to maximize investor losses. An internal token is easier to manipulate than a token or currency issued by a third party. In this regard, HomesCNL will move to a staking Ponzi, allowing users to stake CNL tokens for returns.
Naturally, returns are also paid in CNL tokens. This effectively allows HomesCNL to postpone the demise of their exit-scam. Additionally, HomesCNL has disclosed a planned NFT scam. However, specific information has yet to emerge.
HomesCNL is rumored to be controlled by serial con artists Andrew Arrambide and Juan Carlos Guinea, despite being fronted by “Jack Wilson,” the CEO of Boris.
It is believed that Arrambide resides in either Utah or California in the United States. Guinea is headquartered in Mexico.
Due to a marketing effort targeting South America, HomesCNL’s recruitment in Peru increased by 5000 percent last month.
HomesCNL’s website receives the most traffic from Mexico (40 percent), Peru (31 percent), Venezuela (16 percent), and El Salvador, according to SimilarWeb (7 percent ).
HomesCNL is incorporated in the United States under the name “Crypto CNL Group & Associates LLC,” which is a Nevada shell corporation.
The SEC has not registered Crypto CNL, Homes CNL, Crypto CNL Group & Associates LLC, Andrew Arrambide, or Juan Carlos Guinea.
On July 30th, HomesCNL will host a marketing event in Dubai. On July 3, Arrambide left the United States for Dubai.
It is unusual to leave a month before HomesCNL’s planned event. It is uncertain whether Arrambide’s visit is permanent or not.
It is unknown what the current status of Juan Carlos Guinea is. Dubai is the world’s MLM crime capital. Through restricted extradition treaties, non-cooperation with foreign law enforcement, and turning a blind eye to MLM-related securities fraud, the United Arab Emirates provides a safe haven for con artists.