Foreword

We mostly like crypto world and the raising projects here. Some projects might be successful and some not but intentions of people behind them are mostly honest. But there are also people and groups of people whose only intention is to rob you. I will introduce one group of such services to you right now and I hope it will save some money and unpleasant experiences to many of you. These services are usually use phrase "high performance coin multiplicator or cloner" or similar. I call them simply crypto ponzi-scheme SCAMs because it is exactly what they are! Most of written below is based on unpleasant personal experiences.

Principle

Let's describe basic principle of these services.

How it should work?

For these services principle is quite simple

• you invest (send) some cryptocurrency (BTC, ETH, ...) to this crypto clone service
• they cleverly invest your money to bring promised profit to you and some profit to them
• you receive your investment plus some very tempting profit (like double or triple of your investment in short time (a week or two) and meantime you can watch interactive progress showing you how far you are from your next payment.

How it really works?

• you invest (send) your cryptocurrency (BTC, ETH ...) to this crypto clone service
• they partially use it to pay fragments to others and to you back so there is no strong suspicion
• this words as long as more and more investors are coming or as long as service owner has not enough
• you receive fragment of your investment if you are lucky or nothing if you are not. If you are very lucky (very early adopter), you can maybe receive full investment and even profit - this is to lure more fish) - this is valid maybe for 1% of early investors.
• majority of invested money becomes profit of site owner
• most people will receive nothing back or just fragment of their investment
• when there are enough money collected by owner or no new investors are coming, the shop is closed

These people usually don't operate on single site but they have multiple projects/sites with very similar structure, I will show you some of them now (even some still active).

Cryptoclone.com

Currently closed due to being exposed, hundreds (almost thousand) of BTC stolen. What actually happened is that reception addresses were changed to some different addresses and owner reported site has been stolen by hackers. Not very trustworthy story, though. Sure thing is that invested money are gone. You can get some more details on bitcointalk thread.

Cryptoclone.ga

Cryptoclone.com-like slightly modified site. This site is still operating!

Blockwake.com

New service with the same schema started yesterday but works only with bitcoins and it is highly probably made by the same people as the previous ones. Also discussed at bct.

There are (and will be) many other sites like these as long as there are people willing to rob others

Don't be surprised these sites will be closed overnight and new similar will arise tomorrow. This is simply how it works.

Indicators

Some typical indicators showing a service is probably fraudulent:

• extra high ROI
• unknown team
• fake local addresses
• domain owner hidden
• not-transparent principle how they generate such a high profit
• poor or even no responsiveness of their support
• multiple similar sites can be usually found
• other ponzi-schema indicators (first people can get something but very soon the schema crashes due to insufficient funds from newcomers)

Conclusion

When you invest in cryptowrold, always use only transparent and trustworthy services and be always cautious when promised ROI is too high and when you're loosing control over your coins and tokens and especially when several indicators listed above are met. From my own experience I can tell you I've lost more than insignificant amount of money with "services" like these in the past so I can assure you the risk (or rather certainty) of loosing your capital is very real.

Take care and I wish you safe investing!