Social trade scam has been exposed. SocialTrade.biz cheated 6.5 lac people for 3700 rupees. Here is how social trade scam worked to cheat people.
Nowadays people are fascinated by the concept of earning money online. A misconception that earning money online is a very easy job lands some people in trouble. Some innocent people get attracted towards different schemes that offer chances to earn money online, which later turn into a scam.
Social trade scam is a similar scam that cheated around 6.5 lac people for 3700 crore rupees. This social trade scam was run by a Noida-based digital marketing company, 3W digital private ltd. Three members of the company were arrested for cheating people.
The company’s director, Anubhav Mittal, CEO Shridhar Prasad and technician Mahesh Dayal were held by a UP Police’s Special Task Force (STF) after two complaints were registered at Noida’s Surajpur and Phase-3 police stations by two people alleging that the company was not paying them for their investments.
A website called socialtrade.biz displayed the different plans where in a user would opt for any of them to earn accordingly. Users were asked to pay for different amounts to subscribe to different plans which include Rs 5,750, Rs 11,500, Rs 28,750 and Rs 57,500.
A daily return of Rs 625 was promised on an investment of Rs 57,500.
The investors were entitled to a daily return for one year based on the money deposited. They were promised a return of the principal amount at the end of one year.
Social Trade Scam – How They Worked To Cheat People
Social trade scam first asked for money from users to subscribe to any of their plan. Users were sent links ranging from 50 to 100 daily. All they had to do is clicking and liking the content that link redirects them to.
Company claims that they are sending links of their clients(business who wants to advertise/promote their brands) to the socialtrade.biz users who have invested their money.
This means they get money from brands to advertise their links and share some profit with those who click their links.
It all turned into a scam. According to many authentic media outlets social trade biz had no clients and all the links were of different websites connected to their own server. It means they were promoting their own content.
This means they not only earned from those clicks but also the money that people had put into as investment was a direct gain to the fraudsters.
How to stay safe from scams like Social Trade
The best way to stay safe from such online money-making scams is to never deposit any money if asked. Why would a legit person/company ask somebody money for working for them.
Best & legit way to earn money online are free. They never ask for any money like subscription, investment or anything like that.
Note: The information in this post is based on authentic news articles published on internet. This post is not meant to defame any person/company.
Don’t forget to share with your friends about this social trade scam so they don’t lose their hard-earned money to such online money-making scams.