Update: Watermine exit scam is now completed. The website is down!
Watermine has been battling these so called “hackers” in the last several days and looks like their battle has been lost…
They posted in their back office:
Watermine will be discontinued We have worked night and day the last 3 days to make everything functioning again, but it has been nearly impossible to solve in such a small time frame. The hacker has gathered a lot of data, they are requesting payouts if we continue. We do not believe its impossible to solve, but we need minimum of a month. Ninety percent of Watermines’ users can not wait. Our name has been tarnished on trust pilot. Many users are saying add more team members to speed up the process, as we are very leery of adding new team members. We will try to pay manually to those who are not in profits. Please stop Watermine promotions. Ending like this very painful for Watermine team and loyal investors. Watermine was making millions for investors. We had no intentions of closing this amazing opportunity . Please forgive us
Watermine isn’t the only company to take this hacker excuse to exit scam their investors, it’s actually one of the oldest tricks in the book when it comes to these MLM Crypto Ponzi schemes.
They started pulling out this exit scam when they said they have issues with paying investors. That causes a lot of bad reviews from Watermine.io investors on TrustPilot.
After the flood of bad reviews, Watermine admins put an official announcement on their platform saying they have been hacked and trying so hard to bring the systems back on and fix the issues.
The thing that was a bit fishy to me was that Watermine.io turned off their 2FA (Two-step Verification) a couple of days before that! There is no good reason behind turning off one of your best security measurements just before saying you were hacked!
This was basically the whole exit scam plot. They didn’t have any more money coming in because their recruitment was dialled down, hence not having money to pay off the existing investors.
In my original Watermine.io review, I noticed how they were promising 2.6% returns with no proof of external revenue coming into the company…
See, when an organization promises that huge amount of ROI without any proof and also guarantees that you will never lose money, most likely they are running a scam!
Looking at Watermine.io traffic stats, there were huge declined just after February 2021. Meaning less recruitment which equates to less money coming in.
And in the Ponzi math, when affiliate recruitments slow down, they won’t be able to pay off existing members anymore, because the only revenue that they have is the new recruitment’s deposit.
Watermine has been paying out since 2020 and comparing to most Ponzi schemes, it is quite a good record.
They had the site still up while they were not paying, I think they might have been getting ready for another program/platform.
I guess we just need to wait and see…
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