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The WorldOTC “click a button” app Ponzi scheme has failed.
Withdrawals from WorldOTC have been blocked, and a “regulators!” exit scam has been set up.
WorldOTC’s demise was heralded with a three-day “free money” promotion:
WorldCat disabled withdrawals on or around August 25th.
WorldCat pulled out its exit-scam scheme on August 27th:
The FBI is doing a legality check on WorldOTC. We are presently assisting the FBI with the investigation.
We regret any trouble this has given you.
We will be confirmed as a real corporation within a week and will be able to continue operations.
Our tax problem is being investigated, thus withdrawals are not possible.
Have faith in WOTC. We’ll have a better tomorrow in a week.
Of course, this is all rubbish. The FBI does not do “legality checks.” Not to mention that true regulatory investigation, whether tax-related or otherwise, take far longer than a week to complete.
Today commemorates seven days after WorldOTC went bankrupt. There have been no more developments.
While the overall number of WorldOTC victims is unclear, SimilarWeb rates Vietnam (38%) and Spain (31%), as the leading sources of traffic to WorldOTC’s website.
It is unknown how much money WorldOTC investors collectively lost.
WorldCat is a click-a-button app Ponzi scheme. The frauds began in late 2021, and there have been hundreds of rebrandings since then.
While “click a button” app Ponzis are frequently tailored to target certain groups, the great majority of them are thought to be the work of Chinese fraudsters.
