Keep away from QubitTech / QubitLife
QubitLife (formerly QubitTech) is a widely promoted financial pyramid that has been on the alert lists of many financial regulators. We strongly advise against depositing its platform.
On the web, you can easily find many promoters and touts advertising QubitLife (QubitTech). One of the characteristics of each financial pyramid is the reward system for drawing new people into it. Recruiters can count on commissions, and the fraud is guaranteed an inflow of capital. Some users manage to withdraw funds, but the money comes from deposits obtained from other deceived people.
According to the simplest math, any scheme of this type must lose its liquidity and collapse, so at some point, its creators stop withdrawing funds and disappear along with the clients’ money. The only people who can be held accountable are usually the promoters (who, in most cases, also become victims when the pyramid collapses without paying them out).
Big profits and no risk?
QubitLife offers very high returns and a profit guarantee. The two never go hand in hand, and technology has yet to be developed to make this kind of money-making machine. On the other hand: if QubitLife really had it, would it be profitable for him to recruit new clients? Its creators, investing even $ 1,000 each, would soon become multi-millionaires. No warnings from financial regulators, no website addresses and name changes, no fraud accusations. Huge money without knowledge, commitment, or risk? The only requirement is to transfer funds to someone else’s account? Does it seriously look like a credible offer?
QubitLife (QubitTech) is a scam: evidences
What is the evidence that QubitLife (QubitTech) is a financial pyramid? We present them in points:
- QubitTech website (now QubitLife): qubittech.dev, has been blocked in Italy. Internet service providers obfuscated her at the request of the local financial regulator (CONSOB), which indicated that her offer was illegal and could endanger customers. Information on this subject was presented in the press release on February 26, 2021. You can find it in this tab.
- Many financial regulators from around the world have warned about QubitTech (later to become QubitLife). Including: Spanish CNMV (link to warning), Malaysian SC (see list of warnings), and Securities Commission of The Bahamas (see warning).
- QubitTech (the current QubitLife) has made its list of the Top 10 Cryptocurrency Scams of 2020 by Chainalysis. A well-known company that tracks digital asset transfers (the US authorities use its services), indicated that qubittech.ai – the former QubitTech website, is responsible for nearly USD 60 million of losses on its investors. The original and the description of the Chainalysis report.
- QubitTech used the image of people from the cryptocurrency industry who have no ties to it. It was like that in the case of blockchain developer Per Lind, who announced it on Twitter.