WaterMine Exit Scam Complete, Affiliates Asked To Stop Promotions
- MLM News
- June 5, 2021
Watermine has been battling these so called “hackers” in the last several days and looks like their battle has been lost…
Today they just 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 network marketing ponzi schemes.
It all started when Watermine had issues paying their investors which flooded TrustPilot with massive negative reviews.
In fact, they got 36 negative reviews in just hours of that happening…
This prompted Watermine to put out an official announcement saying they have been hacked and are trying to fix the problem.
What didn’t make sense to me was Watermine several days before when they “got hacked” turned off their Two Step verification system…
Why would ANY company that is holding peoples investments would do that?
The simple answer is their new recruitments stalled and they needed to come up with some kind of excuse to pull an exit scam.
In my original Watermine review, I noticed how they were promising 2.6% returns with no proof of external revenue coming into the company…
When a company promises outrages claims with no leadership or proof, it’s most likely a ponzi scheme.
According to their traffic stats, they were in a huge decline after February 2021 and simply just ran out of money.
When affiliates slowed down on the recruiting process, they could no longer pay the returns…
Why?
Because new investments were paying off existing members…
This is how these ponzi schemes work.
Watermine has been paying out since 2020 and did go pretty long compared to some ponzi schemes, but end of the day they will exit scam on you when you least expect it.
It looks like Watermine is pulling the plug, I am surprised they didn’t just go offline but instead let their investors know it’s over.
I wonder if they are already gearing up for another company they might mention in the near future to start this process all over again.
Only time will tell…
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