When the internet first became commercial and gained acceptance by the masses it was a great thing. During the late 90s the internet was young and innocent. It was a new place of discovery and possibility. This medium allowed people to do just about anything and everything they wanted. As time went on, plenty of bad people began to figure out how to rip people off through the world wide web. Soon, fraudulent online investment opportunities began to emerge. Eclipcity is one of those fraudulent opportunities. The following Eclipcity review will explain why this online opportunity is no good. This information will help you to understand why you should avoid this scam.
What is Eclipcity?
Eclipcity is a blockchain aggregator and a smart-contract site. Oh, did we also mention that it is an MLM company and a Ponzi scheme? One more thing, this company is also an investment vehicle for blockchain bitcoin. Truthfully, who really knows what this online company is except for a fraudulent operation.
At this point, we’re going to quickly tell you what a blockchain aggregator is. An aggregator is a software program or website that gathers related information and displays them together or provides links to them. This information usually consists of different types of content. A blockchain aggregator uses this type of technology for the purpose of security, analysis, privacy, and auditability.
The blockchain process is still fairly new to people even though it has been around since 2009. Without going into a bunch of detail, the blockchain process needs blockchain aggregation methods to operate. Eclipcity helps to bring different entities (people, businesses, programs, est.) together within a particular blockchain network. Well, this is what Eclipcity is supposed to do. However, this part of the business is not that clear cut.
Another part of this business has to do with smart-contract processes. However, we’ll discuss that a bit further in the article. Let’s just say that Eclipcity is a hub for connecting lots of organizations and people together in one spot. They do this for the purpose of collaboration and making money. Instead of using money, they use cryptocurrency or blockchain as their medium of exchange. On paper this sounds really great. However, this is not what Eclipcity is all about. Keep reading to find out more about what this company really has to offer.
An Important Word about Andreas Kartrud
Sometimes, when you see a person’s name, it can remind you of somebody that you heard of before. When I researched Eclipcity, I noticed that Andreas Kartrud was listed as the founder of this organization. For some strange reason, his name sounded incredibility familiar. Truthfully, his name is uncommon but that is not why I have heard this name before.
Andreas Kartrud is associated with EtherChain. This online investment opportunity was considered a Ponzi scheme. It collapsed around September 2020. Apparently, Kartrud made about 19.5 million dollars. He pocketed most of this money after cheating investors out of their cash.
When EtherChain was crumbling, Katrud launched other online blockchain operations to help slow the organization’s demise. He launched TronChain and Cyberchain. He presented these two investment sites to gather more investors. His Ponzi scheme with EtherChain had come to an end because he couldn’t gather more investors to keep it going. So, TronChain and CyberChain has helped to delay the process.
Now, I heard about this dude from various online sources that associate his name with investment scams. The Securities and Exchange Commission has also mentioned his organization a few times when addressing fraudulent online investment opportunities. The bottom line is that Andreas Kartrud is a scam artist and has been classified as such. He lives in Sweden, but he fled to Montenegro once his Ponzi scheme was exposed. It’s not clear if Andreas Kartrud still lives in Sweden. However, if he does, he is still pushing another Ponzi type scheme against the public in the form of Eclipcity.
This situation about Andreas Kartrud is alarming. If he was accused of running a Ponzi scheme and end up fleeing his home country for another place, then something clearly was wrong. Andreas Kartrud is not a trustworthy individual. Anyone who is signing up to joins his online networks will probably end up getting ripped off.
The Eclipcity Scam is Real
The Eclipcity scam is real. The organization claims that it offers all the services that were listed in the “What is Eclipcity?” section above. This site does not offer any products whatsoever. Since it takes people's money without offering any service or product in return, then the organization is a legitimate scam. The Ponzi aspect of this online scam happens when people start giving money for investment opportunities. However, they are clearly being ripped off. The site allows its clients to make money by recruiting new investors. However, when members can’t consistently get more people to join, the Ponzi scheme crumbles. The MLM aspect of this organization pays out some money, but the owner also limits how much a person makes from this activity.
What is a smart-contract Ponzi scheme?
A smart contract uses a computerized function to digitally start and verify a contract. This contract can be a negotiation or a performance for a business transaction, a trade of commodities, sale of assets, or another type of credible transaction. No third parties are needed to verify that the contract or activity has taken place.
A smart-contract Ponzi scheme does the same thing. However, it utilizes bitcoin in the case of Eclipcity to carry out this process. Keep in mind that smart contract plays a big role with the Eclipcity process because of their bitcoin functions.
Information about Kartrud’s Three Smart-Contract Ponzi Schemes
Here is some information about the different smart-contract schemes created by Kartrud.
- EtherChain – Ethereum smart-contract Ponzi launched in June 2020, collapsed within three months. This is an open-source platform that employs blockchain technology for the creation of digital applications. This technology is designed to create and operate the technology. Users can buy and sell to each other and trade goods without having to use a third party to complete transactions. Notice how I talked about this smart-contract Ponzi scheme in the present tense. While the site only operated for 3 months in the past. It is up and running on the internet once again.
- TronChain – Tron smart-contract Ponzi launched in August 2020, collapsed in January 2021. TronChain used a similar format to EtherChain and it also seems to be circulating on the internet.
- CyberChain – Tron smart-contract Ponzi launched in September 2020, this site continues to still run online. It is similar to the other two chain sites mentioned.
Eclipcity is also a Ponzi Scheme that has been operating since 2020. However, it is the latest edition to the Kartrud lineup.
Don’t forget that all of these sites use blockchain technology.
What does the SEC have to say about online investment schemes?
The SEC says a lot of things about online schemes. They are adamant about taking caution against any online investment scheme that requires you to recruit members. No legitimate investment scheme is going to rely on you recruiting members to their organization to make it work. They advertise but they have their own unique ways of bringing clients in besides MLM marketing tactics.
Also, if an online investment operation isn’t signed up with the Securities and Exchange Commission, chances are they are shady. Any legit investment organization would make it a point to get signed up and regulated by the SEC. It lends a lot of credibility to the organization and helps to get it recognized as an upstanding operation. This is one way that investment organizations are able to get people to get involved within their organization. Too bad Andreas Kartrud doesn’t want to register Eclipcity with the SEC. It could seriously help his business.
How does Eclipcity work?
In this section we’re going to learn about some basic services that Eclipcity claims to offer.
- Eclipcity offers a personal account for businesses and individuals. This personal account gives account holders the ability to make smart contracts, manage private portfolios, and to operate crypto wallets. They designed the account to “enhance” a business’s efficiency and to grow their revenue.
- The FINTECH service is a software program offered by Eclipcity. This program allows users to create innovative solutions that they can intermingle with the delivery of financial services. The goal of this program is to improve financial transactions within a company.
- DEFI services is also provided by Eclipcity. This service is a new generation of smart contract functions and is considered the future of bitcoin transactions and operations. This service is connected to the TRON matrix of Eclipcity in a connected ecosystem of security and professionalism. What does all this mean? Honestly, many people are confused about this as well.
- You can identify issues with your financial vulnerability, codes, or potential bugs within your system with a smart contract audit. This audit is to be performed by your Eclipcity software and the team’s so-called group of IT experts. However, no one knows who these experts are or why you would want this program to audit your system for potential problems. Truthfully, this scam is more than likely examining your system to figure out how it can be exploited.
- Blockchain based DAPP games are available on Eclipcity. They offer this new online gaming platform through DAPP which is one of the largest gaming markets in the world. Why would blockchain investors need to be connected to a gaming market?
- Blockchain Software as a Service is known as BaaS. This particular software is designed to replace the previous SaaS model. This new software helps blockchain operations to function more efficiently and effectively.
At this point, we’ll stop here with the features. There are many more that Eclipcity offers their clients. Eclipcity says that all these things will be beneficial to a business or to a person investing in blockchain operations. Again, these perks are nothing more than fancy features for a program that serves no purpose. Truthfully, they’re not even real. They just sound really good to put on a website to make this fraudulent online company to appear more credible. Truthfully, no business is even involved with Eclipcity.
What businesses are involved with Eclipcity?
Truthfully, there are no businesses involved with Eclipcity unless they are fraudulent. No credible business is going to sign up for an MLM scheme and ruin their reputation. No business will even promote an MLM and Ponzi scheme like Eclipcity. Yet, this online site claims that they serve businesses. What business would sign up for blockchain services to improve their business and then have to start recruiting more members to help keep an MLM/Ponzi scheme going? The only way this would happen is if the business is also a fraudulent enterprise. You won’t see established credible companies signing up with Eclipcity.
MLM Mania and Eclipcity
Many online businesses started by individuals or a group of tech or financial genius end up being MLM/Ponzi schemes. This has been the norm for many years. This is the only way that most people like Andreas Kartrud can get over on people. Sure, they can make a slick sounding presentation and even create a really nice website to back up their fake presentation. Ultimately, those businesses rely on MLM marketing to make money. Also, just like Andreas Kartrud did when his Ponzi scheme was discovered, they will bail out before being caught.
MLM marketing is annoying and very frustrating for people that want to legitimately earn money on the web with a legit business. The MLM and Ponzi marketing schemes are not going away anytime soon. This is because a few people will always try to exploit most people’s desire to get rich quickly. The real way to build wealth is through slow growth over time. However, very few people want to wait a long time to build up their finances. They want it all now and at this moment. This is a huge reason why MLM marketing and Ponzi schemes continue to take people’s money and waste their time.
MLM mania has swept the internet. Each month new investment sites will keep showing up. They will be bogus operations that ultimately force people to recruit other members just to get back their initial investment. In the case of Eclipcity, this site promotes blockchain technology but delivers nothing in return to investors, businesses, and individuals looking to get into this field. However, the site is really “slick” and the service they’re fraudulently offering looks credible and updated. This is a serious disservice to people who are trying to figure out a way to improve their financial situation.
The SEC and Eclipcity
The SEC has a page on its website that informs the general public about online scams. One of the things that they tell opportunity seekers to look for are promises of instant wealth, fame, and success. I just mentioned that most people want to get-rich-quick. So, when a site like Eclipcity starts talking about the latest technology and how it can make them money, they’re immediately hooked. Not everyone falls for this false sales line.
Some people don’t have enough money to buy into the site or they would. Other people want to buy into a site like Eclipcity but don’t follow through for some reason. Then there are the people who actually sign up for this program through a member that is working for the site. These individuals are the ones that typically complain to the SEC about a fraudulent online investment company.
Remember, Eclipcity claims to be an investment opportunity for people looking to risk their money. Once a business makes this type of claim, they fall under the jurisdiction of the Securities and Exchange Commission (SEC). This organization was created for the purpose of protecting the public from fraudulent investment companies. If an investment company (online or brick-and-mortar) was legit, they would quickly register with the SEC.
Investing businesses that register with the SEC are usually credible organizations. By the way, if you are serious about finding investment opportunities related to blockchain, go through the SEC to find companies that offer this service. They will be valid operations that will not have you out here trying to recruit members just to keep their Ponzi scheme/MLM marketing operating afloat.
The SEC knows that when the investment industry become overrun with fraudulent behavior it will create a ripple effect. This ripple effect will erode the economy since people will lose trust in financial institutions. Also, businesses and investors will stop risking their money in various financial and business markets. This in turn would cause new businesses to decline, many established businesses to fail, and many people will stop purchasing products and services. Jobs will be lost, less money would circulate, and government tax revenues would decline. All this would end up eroding the nation. Thankfully, the SEC is in place to help keep the investment industry on the right path.
The SEC doesn’t stand behind Eclipcity. They know this organization is not about the right thing. Investment regulators inside of Sweden are not so fond of Eclipcity either. It is one reason why the authorities chased Andreas Kartrud out of Sweden.
Eclipcity should be Avoided by Everyone
Eclipcity should be avoided by anybody looking for an online opportunity to make money. This is especially true for investors. There are plenty of companies in the market where people can invest their money without dealing with MLM/Ponzi marketing tactics and problems. Eclipcity is something that any business in their right mind should avoid.
Andreas Kartrud is not a good businessman. He is known to conduct shady online platforms. The fact that he had to flee authorities behind one of these fraudulent companies should be enough to make people leave him alone. Eclipcity’s blockchain services are no good. They sound good, but they really don’t deliver. Remember, the real goal of this online business is to get members to recruit more people to their site. The other services are just a ploy to carry this out.
The Eclipcity Ponzi scheme should be shut down and it probably headed in that direction. Eclipcity global is nothing more than a way for Kartrud to rip off people and to take their money. Don’t forget that this man was able to get close to 20 million dollars before the authorities began to arrest him. No one is certain if he is operating in Sweden or from some other part of the globe.
Remember, you can set up an internet business online and run it from some remote location in Antarctica. People wouldn’t even know you were there. That is basically what most of these online scams do. They pick an undisclosed location, set up their online business, and work to take people’s money. Eclipcity is a fraud, a scam, and an online opportunity that should be dismissed before you even think about signing up.