Forsage claims to be a new crypto-earning program that is available everywhere. It does not set a time limit or targets. It is an Ethereum-based crowdfunding platform that promises you a good financial future.
There are many red flags about this company. Firstly, Forsage.io does not have any information about the company founder. It is very doubtful and shows the corruption of the company. It claims to be the first cryptocurrency project of its kind. Moreover, it claims that it does not have a single manager. A large community of investors runs the company.
Though, everyone can understand that this is untrue. A manager is essential for a company and its website because every organization needs a supervisor or a team to manage it. The official language of Forsage.io is English. However, it supports Russian as well. Thus, someone fluent in Russian is running the organization.
What is Forsage?
Forsage claims to be a global crowdfunding platform offering crypto-earning programs. It uses Ethereum-based blockchain technology. Moreover, it promises long-term income to investors through a referral system.
The company does not have legal licenses. Its business model is like any Ponzi scheme in which the new investors pay the old investors. Furthermore, it claims to be a part of the Central Bank of the Philippines. But, it is not present in the virtual currency exchange list of the Philippines Central Bank.
All the facts about the company show that it is a fraud. The plan is like any other gifting pyramid scheme. It wants to exploit people and make dishonest income. Investors must avoid Forsage.io to prevent any losses. It is one of the many such schemes that has been trying to earn illegal Ethereum from the people.
Who Runs Forsage?
Lado Okhotnikov is the founder of Forsage. There is no official information about its owner. It is not clear if he has any partners in the organization or not. Okhotnikov’s social media profiles show that he is from Tatarstan. He is currently living in Moscow. He does not have a LinkedIn page. Hence, there is no data about his education or work experiences.
Moreover, Okhotnikov interviews with many cryptocurrency platforms promote a false image of Forsage. Since a lot of people watch his interviews on YouTube, he can reach many people through social media.
Forsage website has a high global ranking. Its domain is only four months old. The website was created on 9th February 2020. The domain will expire in February 2023.
According to Alexa Rank, most of the traffic on Forsage is from the USA (11.4%). Additionally, India (10.5%) and Venezuela (9.6%) also contributes a lot of traffic to the website. Organic searches and referrals attract the highest number of users to the website.
US SEC Report About Forsage
On 30th June, the US Securities and Exchange Commission (SEC) warned the public about dealing with many companies like Forsage. Moreover, it has not registered with the SEC. It means that Forsage cannot accept investments from the public. It is not credible at all.
Forsage.io is also a relatively new domain that cannot be trusted. It will expire in the next three years. The site is full of complicated words to impress the users. In truth, it is a scam to exploit people. Therefore, investors should not get involved in it.
What are the Products / Services of Forsage?
Forsage.io has no real products or services. Affiliate memberships are the only way the company is trying to scam people. In other words, Forsage is an Ethereum-based gifting pyramid scheme. It is trying to promote itself as a new crypto-earning crowdfunding platform. If you look at its compensation plan, you will find it to be the same as a Ponzi scheme.
It claims that all you have to do is to pay Ethereum to become a part of the community. After paying the entry fee, you can refer to your friends and family. It is a common pyramid scheme that is becoming popular due to a large number of referrals and new members daily. Such fraud websites are quite common nowadays.
Unfortunately, Forsage has trapped many people. They think that the company is legit and can improve their financial future. Try to ignore the fancy words websites of fraud gifting schemes use to fool you into investing in their scam schemes. Keep in mind that it is an illegal pyramid scheme that is trying to scam the largest number of people.
Do not waste your resources in fake gifting pyramid schemes like Forsage. Consider taking benefits from the crypto cloud mining companies because they are safe for investment. You can enjoy many short-term and long-term benefits from these legit crypto platforms as they have minimal risk. Most of such companies offer flexible mining plans and a reliable customer support system.
What is the Current Status of Forsage?
The report of the US SEC revealed the fraudulent activities of Forsage. On 1st July, the Philippines SEC ousted Lado Okhotnikov from the ownership of Forsage. The current status of the company remains unclear. Besides, the Forsage.io is still running. People must know that it is an illegal company that has no manager. They must avoid any kind of investment in it. It is never a good idea to invest in an unknown company like Forsage.
Forsage Payment Plan
Forsage has a good payment plan on their website. It is important to highlight again that the entire company is a fraud. However, it has no intention of paying their members on referrals or successful trading because it is a scam.
You have to pay 0.05 Ethereum to join the Forsage affiliate membership. After paying the ETH, you can invite other users. Different matrix sizes are available. For example, a 3×1 is a simple matrix that requires only three complete positions. The investors can fulfil their positions directly and indirectly. As a result of the fulfilment of the position, the cycle commission and distribution of ETH starts.
Initially, this compensation plan may seem real to the users. Yet, there are several gaps in it. This type of plan is very common among the Ponzi schemes. Forsage.io has not made any significant efforts to modify the plan. It is similar to any other scam website.
The model of gifting schemes like Forsage forces you to constantly hire new members. It keeps the money flowing through the community. Eventually, the cycle breaks and all of the revenue accumulates at the top of the company. Hence, the members will be left suffering.
Additionally, the founders of Ponzi schemes have experience in promoting scam projects. Members at the bottom of the pyramid will suffer, while those at the top will make the most money. As a result, common members will have to suffer the consequences. Do not get involved with it in the first place.
Forsage transfers the profit from different participants into your wallet. It proves the illegal nature of the company. To sum it up, remember that gifting schemes are illegal. The company is violating the law when it is using Blockchain or scripts for gifting schemes.
MLM gifting scheme, for example, Forsage, benefit the founders and the managers. The community of investors does not get any kind of payment. Forsage is scamming many people, and its owners are enjoying the benefits.
Nevertheless, keep in mind that Forsage.io is a fraud. It may try to present itself as a modern crowdfunding platform. However, the authorities like the US SEC has warned the public about the company. You can lose a lot of money if you choose to invest in Forsage. Hence, you must avoid it.
Instead of wasting your time, energy, and Bitcoins and Ethereum in illegal and fraud gifting schemes like Forsage, find out about trustable cloud crypto companies to make secure investments. It will help you save a lot of time and money because they have better management and transparency.