In this review, we delve into the story of the alleged bitcoin scam USI Tech (United Software Intelligence Technology) and highlight the reasons why we believe it is best to avoid this seemingly fraudulent “bitcoin trading scheme.”
What is USI Tech?
The popularity of digital currencies has led to an explosion of cryptocurrency investment schemes. These investment schemes offer a variety of crypto-related products to investors who are looking to generate profits by trading cryptocurrencies.
USI Tech (United Software Intelligence Technology) is a company that claims to have developed the world’s first bitcoin automated trading platform. The platform began to sell automated trading and mining packages to users who wanted to make profits.
Additionally, the “investment” venture runs a referral program that entices users to bring in new users for a 35 percent commission. This has led to more users buying packages over the years.
Is It a Scam?
Firstly, according to several accounts from users of USI Tech, the company doesn’t deliver on its promises of providing profits for users. In a recent backlash, some victims reported the platform to the UK police with one victim from Melton Mowbray, United Kingdom, describing the scheme as a “massive scam” in an interview with The Mirror.
“This is a massive scam that needs looking into from the UK promoters all the way up to the owners who have vanished.”
Secondly, the project website provides scant details on the team behind the project and what the paid packages include. Some information online indicates that Joao Severino and Ralf Gold are the founders.
Severino was banned from all financial activities in Portugal before starting USI Tech. The ban came after his involvement with a scam company called AMC Invest. Ralph Gold has been involved in several (alleged) Ponzi scheme companies. These schemes include AdsProfitWiz, APR Clicks, MX Fast Money, Upper Game, and AdsProfitReward, among others.
Finally, USI Tech claims to be a Dubai-based registered company. However, the registration of the business is actually from Ras al Khaimah, another city in the United Arab Emirates. A place known for its offshore business registration services.
Eyeline Trading or WealthBoss?
After authorities in the United States, Canada, and New Zealand served the alleged scam with a cease and desist order, the company website went offline along with the funds of victims.
However, this did not mark the end of the USI Tech saga. The company simply rebranded to Eyeline Trading. The USI Tech website was then redirecting to the Eyeline Trading website.
Authorities caught up with the newly organized scam once again, forcing them to rebrand again. This time from Eyeline Trading to WealthBoss.
Red Flags Summarised
- No valid information on the company or individuals behind the platform
- Both Joao Severino and Ralf Gold have connections ith other alleged financial scams
- USI Tech’s website has now disappeared, along with investors’ money
- No insight into how the “trading software” generates its alleged profits
- USI Tech has received cease and desist orders authorities in the United States, Canada, and New Zealand
- The platform guarantees a profit, which is arguably the biggest red flag of all
Avoid USI Tech!
If such an extraordinarily profitable trading software existed, it would be all over the news and not mentioned on some obscure websites. What’s more, USI Tech has been identified as a scam by many a large number of industry experts and publications.
Bitcoin users should always conduct research before making any type of investment in the cryptoasset markets. In the case of USI Tech, it is best to avoid it altogether!