I was scammed by an outfit called Phala-Network
I was originally approached by a 'mentor' who used a combination of 'expertise' and 'romance' to get me to start working with her. Essentially, the process is: you start with a small amount of money, to invest in purchases of online apps, for "optimization" which raises the level of popularity of these apps on the web. You are then paid a commission after completing a set number of these transactions called 'tasks'. But there are multiple levels, depending on how much money you put into the system. All the money is placed in the form of crypto.
As the amounts get larger, there is usually some "combination task" that requires a much larger investment, which requires you put in much more money. When you do, then you need to be at a higher 'level' to withdraw your money, which requires even more money invested. Essentially, they continue to impose 'rules' or conditions at each step to make you need to put more money in in order to withdraw your funds. You end up chasing your own money.
Very sophisticated and very effective.
I was alerted to the scam by several clues, like the fake W2 form attached, but I should have seen it t much sooner. As of this point, I am out about $35,000 to $40,000.
Their website is: www.phala-network.com
If I never see my money again, at least I hope I can prevent someone else from falling victim to their operation.
I was originally approached by a 'mentor' who used a combination of 'expertise' and 'romance' to get me to start working with her. Essentially, the process is: you start with a small amount of money, to invest in purchases of online apps, for "optimization" which raises the level of popularity of these apps on the web. You are then paid a commission after completing a set number of these transactions called 'tasks'. But there are multiple levels, depending on how much money you put into the system. All the money is placed in the form of crypto.
As the amounts get larger, there is usually some "combination task" that requires a much larger investment, which requires you put in much more money. When you do, then you need to be at a higher 'level' to withdraw your money, which requires even more money invested. Essentially, they continue to impose 'rules' or conditions at each step to make you need to put more money in in order to withdraw your funds. You end up chasing your own money.
Very sophisticated and very effective.
I was alerted to the scam by several clues, like the fake W2 form attached, but I should have seen it t much sooner. As of this point, I am out about $35,000 to $40,000.
Their website is: www.phala-network.com
If I never see my money again, at least I hope I can prevent someone else from falling victim to their operation.
