Is Zero10 reliable? Be sure to read before investing
A Zero10 is an investment platform created to broker financial operations in cryptocurrencies. In 2019, the CVM condemned the company Zero10 for illicit practices involving the sale of collective investment plans.
A GVC, The Securities and Exchange Commission, had issued 2 communications talking about the irregularity of the Zero10 in Brazil.
The company was not authorized to operate in the national market. Subsequently under investigation the Zero10 Club was accused of being a pyramid bitcoin financial.
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What is the Zero10 Club?
Zero10 Clube was a company of the group gensa Digital Services. The company was offering collective investment contracts in bitcoin. The company had a platform that intermediated the purchase and sale of cryptocurrencies.
However, what Zero10 Club did was to offer investment plans with a profit of 5% to 20% per month within its platform.
The CVM notified Zero10 twice. The company was prohibited from offering investment contracts, but continued to carry out the offer through genbit your digital currency trading platform.
The website of genbit is still online and offers cryptocurrency trading, the company belongs to Nivaldo Gonzaga dos Santos who is responsible for the crime of fraud, along with his stepson Gabriel Tomas Barbosa.
Zero10 club it's trustable?
No, Nivaldo Gonzaga dos Santos, owner of Zero10, has already set up companies structured by the pyramid scheme more than 3 times. Your investment platform genbit and cryptocurrency treep Token (TPK) are a fraud.
The currency TPK of genbit was offered within an advantage program for Zero10 customers. THE genbit changed os bitcoins of investors by TPK.
TPK is a totally worthless and illiquid currency. Many people lost money in genbit because of that exchange. We advise you not to exchange bitcoins for currencies that do not have liquidity in the market.
Always make the purchase or sale of bitcoins within secure and internationally recognized platforms.
How does zero10 work?
A zero10 promised gains with terms of up to 24 hours. Investment plans would yield between 5 and 15% per month (depending on the plan). All contracts consisted of 36 months. The investment plans were:
- $ 100 with 5% yield
- $ 750 with 10% yield
- $ 7.500 with 15% yield
Bitcoin Zero10
To invest in Zero10's plans, the person should create an account at exchange Genbit to buy bitcoin of the group gensa Digital Services S / A.
O bitcoin was transformed into Zero10's digital shares. The greater the contribution, the greater the monthly profit, the $ 7.500 plan promised to yield 15% per month.
Zero10 has always depended on genbit to function, after all exchange made the exchange from dollar to bitcoin. But the other problem is that genbit it wasn't a exchange. And we can say that the two companies were even the same. After all, when the CVM closed Zero10, the investment plans passed to the genbit.
Zero10 was pyramid?
Yes, it was a financial pyramid. Record through the Spectacular Sunday exposed the fraud to all of Brazil. About 45 thousand people fell in the coup Zero10 Club.
The leader of the pyramid scheme was Nivaldo Gonzaga dos Santos, he managed through speeches bold to make Zero10 last 2 years in Brazil.
A genbit and Zero10 are the same company, both from the Group gensa, the two were structured in a financial pyramid, for the scheme to be profitable Nivaldo would have to involve as many people as possible to make money. The more people, the more pyramid it grew and the greater the profit for whoever was at the top wins (Nivaldo).
In the beginning it is easy to believe in the promises of easy earning, because whoever first entered the scheme can earn money, so there is social proof for others to come in and trust. But later on, the last investors lost their investment.
Complaints
In Record's report, aired on Spectacular Sunday, it is possible to hear the account of one of the investors who lost at Zero10.
The victim's name is kept anonymous, she said:
"I always had a back seat with the company, but to see other people buying apartments and cars I invested R $ 27.500 reais, money taken from my savings and that did not earn any cent in Zero10".
The company captured customers through workshops and promised a financial transformation in the lives of those people. Events were a more attractive way to attract new customers for Zero10.
Zero10 investors invited people to attend the meeting, they were called ambassadors, the ambassadors received a bonus of R $ 2.500,00 per referral.
Zero10 club "Reclame Aqui"
Among the most frequent complaints of Zero10 are:
- Investment reversal order
- Lock the access to office zero10 club
- Lack of communication
Deposits stopped falling in September 2019. The report by record aired on May 17, 2020, at that time the pyramid scheme had made 45 thousand victims in Brazil.
The Campinas, São Paulo police investigated the company and the police chief responsible pointed out the following crimes:
- Money laundry
- Estelionato
- Formation of criminal organization
- Crime against the financial system
The Public Ministry of São Paulo also investigated Zero10, the lawsuit says that the group was specialized in involving foreign companies to attract investments, whose objective was to delay the return of the money raised to the deceived investors as much as possible.
New Tiger Merchant Bank
A New Tiger Merchant was a bank that was linked to genbit, the company is being investigated for the cryptocurrency scam. New Tiger has now changed its name to Icon Digital S / A.
Nivaldo's explanations
Nivaldo, leader of genbit and Zero10, made a live to try to explain what happened to the investors' money. At the time he stated that the values were all converted into the cryptocurrency of genbit a TPK. However, the currency has not had liquidity since November 2019.
The scheme leader announced that he would pay his investors with TPK and that they could use it at accredited establishments. But the project did not work.
Who is it Helipad Marcondes da Silva?
Helipad Marcondes da Silva was known as one of the ambassadors of GenBit in Brazil. Helipad he was a religious leader of the Christian Congregation of Brazil.
According to the Christian Congregation of Brazil, all members who were part of the genbit including Helipad were removed from church posts and ministries after the pyramid be revealed.
The leader said that comfort and luxury were possible for everyone who “invested” in genbit. Helipad Marcondes da Silva may have influenced some evangelicals to join the scheme.
Did the company close?
Yes, the Zero10 Club closed and is being investigated by the Public Ministry for fraud with cryptocurrencies.
A genbit (Zero10) owes more than 150 thousand in labor rights to its employees, the company fired everyone without paying the rights labor.
Employees were dismissed in early 2020 with no right to termination. Some officials report that the December and January salary was overdue.
Seconds one ex employee genbit, the company said it had no cash on hand to maintain the payroll.
Cap unmasked by ex employees
Os exs employees genbit reported the fraud from their point of view. One of the support staff said that the bitcoin it was the most attractive service within the platform. And that employees were instructed to halt customer withdrawals in October 2019.
The reason for slowing payments in October 2019 was:
"The company took all of the investors' money and invested in the TPK cryptocurrency."
TPK is one of the projects of genbit, another employee confirmed that the balance of genbit was transferred to a wallet on behalf of Gabriel Tomas Barbosa.
The alleged wallet linked to Nivaldo's bored, would have 498 bitcoins, about 387 million of reais in the current quote bitcoin. The bitcoins belonged to investors in the genbitaccording to one ex employee.
The debt of genbit extends to their employees, they had employees who had been without a salary for two months. The support salary was 1.800 reais, about 40 people working for the company.
It would give 144 thousand in labor rights alone. In this amount, a 5% fine and 1% per day will be added for each day of delay according to legislation labor.
The company said it delayed because the court blocked his assets, but that he was working to resolve the problem. Some companies related to genbit, for example, the Voll, who provided the chat services on the website, have been unpaid since November 2019.
Threats
Employees of the genbit reported that they suffered threats and harassment before the company closed. Investors who lost money would go to headquarters to face workers.
Another employee said: a Genbit never really acted with his customers. And the money was invested in the platform and theinvolved in the TPK project.
Bitcoin to TPK
The company created the cryptocurrency TPK and left operations with bitcoin. TPK has no liquidity, that is, it cannot be converted into cash, the currency is worthless.
The idea of genbit was to put TPK in circulation so that it could operate on machines inside commercial establishments, but the project changed and did not work.