The GBhub project shows signs of a multi-stage transformation, fraud, in order to be able to appropriate tens of billions of dongs

Taking advantage of the growth dynamics of the cryptocurrency market and the gullibility and gullibility of many people, a number of tiered models have emerged that have been transformed through participation in cryptocurrency investments. After the names that are already too loud in the community, OneCoin, BitConnect, more recently Vitae and now GBhub. Believing and with the intent of making quick money, 9 investors filed a complaint against the GBhub company showing signs of multi-stage transformation and fraudulently seized more than VND 10 billion.

Team GBhub

What is GBhub? Multi-level virtual currencies are increasingly penetrating the market

GBhub presents itself as a technology development project implemented by a company with more than 10 years of practical experience in carrying out projects with Google. GBhub introduces itself as a partner of Google and promises to build a potential business market for cryptocurrencies with huge profits for the customers.

Project profile It also shows that GBhub has many partners in all countries in the world. In addition, they also confirmed that GBHub is certified by Google to enable use and access to all Google application services to build their own applications on the Gbhub chain technology platform.

Gbhub promises to open a Visa payment gateway in August and September 2020, open a separate exchange for the project token GBPro, open a mutual fund, open a blockchain academy in Synthetic Team in October and late, and finally the GBCloudbank portal to open in November of the same year. You claim to be an internationally networked bank; Trade over 22 different currencies around the world. So many promises, but less than half of those promises have been realized so far.

In order to participate in the project, investors must also buy a GBPro token and then use that token to activate the account. Through the above bank portal, they said they would pay interest daily and withdraw money directly from USD to VND. Initially, the company paid interest on withdrawals very regularly to surprise investors and had great confidence in the company’s future. But after each interest, the investor has to pay the principal again in order to receive the next interest, etc. until one day the account is closed and the interest can no longer be withdrawn. In fact, GBhub only opens GBCloudbank and allows investors to withdraw funds in the first month.

For example, an investor deposits $ 10,000 and receives 40% interest on the amount deposited. The following week they deposited another $ 6,000 and continued to receive 40% interest. The third time you need to deposit $ 10.00 to withdraw the 40% interest on the deposit. For the fourth time, they paid another $ 10,000 and the company … disappeared.

The company’s promised roadmap seems a long way from the project roadmap given in the project file provided by GBhub

From January 2021 until now, project participants have not been able to withdraw a single cent from the aforementioned bank portal, but have also received an email from a Google Synthetic Team representative “Warning of abuse of power and dissemination of religious images” by email from the Google Logo ” the money they receive daily interest is sold to the so-called “managers” in Synthetic Team at extremely low prices compared to the USD price, according to the proportion of victims. The company is currently in contact with phase 1 investors with phase 2 blocked and the accounts locked so that there is nothing left for these victims to do.

Google Synthetic Team sends out an email to warn investors about abuse of power and the spread of plagiarism of the Google logo.

Invest virtual money but lose real money, be careful

Many victims used their savings, even borrowed, mortgaged properties, to participate and then lost their money. In addition, GBhub celebrated the opening of an office on Le Hong Phong Street (District 2, District 10, HCMC) on April 6, but had no operating license. Then on April 24th, this company also opened an office in Nghe An on Nguyen Quoc Tri Street (Hung Binh Ward, Vinh City). The director of this company is both Malaysian and Synthetic Teamese. The company also advertises on its website that its membership will exceed one million worldwide over the next three years.

There are currently many people investing in GBhub, especially the elderly in rural areas. You can easily lose money on real money investment games on virtual networks because the servers are overseas. The company will call person to person to trade cryptocurrencies in a short period of time to avoid statements and documents. After that, the company closes the server and deletes all information.

This isn’t the first time project owners have targeted the crypto market to carry out scams. There have been too many projects borrowing coin investment names and investing in new technology to scam investors. While there has always been a warning of potential risks, these are the enormous profits that make cryptocurrencies so attractive to investors. Not to mention, many more sophisticated exchanges also trick investors into buying real coins in order to buy back junk tokens for big profits, and then investors lose their investment.

Veronica

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