This review explains that the Topone Wallet is in fact a fraudulent platform that is just pretending to be conducting activities related to cryptocurrencies.
What is Topone
Topone is presented as a cryptocurrency platform that is built for the Web 3.0 era. It supposedly provides a quantitative wealth management wallet and the whole project is backed by Galaxy Digital.
Quantitative asset management together with high-frequency trading, staking, mining and lending allegedly generates substantial profits that people can get their share of.
Daily returns offered by the Topone Wallet range between 0.8 and 3.0%.
Referring new people to the platform can increase your revenue, there are four levels that can bring you rewards for new depositors.
The minimum deposit for staking (pledging) is 100 USDT.
But can you trust Topone, is it a legitimate investment platform?
Topone is not legitimate, it’s a scam
We investigated Topone and our conclusion is that it is a scam that has nothing to do with Galaxy Digital. It is not doing any real cryptocurrency trading, staking or mining. It is just an illegal financial scheme that is sure to collapse. Here is why.
Illegal platform not connected to Galaxy Digital
One of the main lies of Topone is that it is backed by Galaxy Digital. It is not. You can contact the company to verify this claim.
In fact, Topone is completely anonymous, it is not run by any registered, let alone regulated company.
Topone is obviously providing investment services by accepting deposits from people and promising them returns on those very deposits.
As such, it needs to obtain licenses from regulators in countries it wants to have users in. But as we have already mentioned, the Topone Wallet is not registered as a company, let alone licensed as a financial service.
Which makes it an illegal financial platform that offers no protection to investors. This fact has been already confirmed by the Spanish financial regulator CNMV.
Showing fake history
Another lie of Topone is in the roadmap that it is showing on its official website. Because there it says that already in 2021 the project had 10 million users. Which is a huge number that suggests that the project has been online for years before that.
But as you can see in our picture below, the toponewallet.co domain has been created only in July 2022. It certainly did not exist in 2021, so it could not have millions of users at that time.
It is another very tangible proof that the project is a pure investment scam.
The proof is in the plans
For years we have been warning people that platforms offering steady daily returns on investment, like 1%, 2%, 3% or more, are always scams. Looking at the investment plans is most of the time the quickest way to recognize a scam.
And it is valid with Topone too. With its daily ROI up to 3% it can’t be legitimate, it’s just impossible. Nobody is able to generate a fixed daily 3% return, be it cryptocurrency trading, mining or staking. That is a fact.
We know that a lot of people don’t want to hear that, but that is the way it is. And any honest person with experience in trading and/or the field of cryptocurrencies will confirm this to you.
So yes, the Topone pledging plans are a proof of scam in themselves.
How Topone works
Topone works like a simple Ponzi scheme. There are thousands and thousands of these schemes online pretending that they use digital assets to generate great returns. They speak about pledging, staking, mining and trading, while in reality they don’t any of these things.
What Topone and similar fraudulent platforms do, is transferring money from new to older members in a typical Ponzi fashion.
When you make a deposit on the platform, the money is divided among people who joined the structure above you, and that is all that happens. As simple as that.
As you can see, the scheme requires a growing inflow of deposits. Which can always last only for so long, and that is why Ponzis always collapse in the end, it is just a matter of time.
And it is what is going to happen to Topone, it is going to crash and stop paying. If it has not already happened. That is why you should avoid it and not invest any money money in it.
Topone review – Conclusion
Topone is a dirty financial scheme and a scam that is going to collapse. It has already been blacklisted by the financial regulator in Spain.
Don’t trust any investment platform that is promising 3% daily returns, only scams feature numbers of this kind.
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