Feeder Africa qwaqwa – What is wrong with the Investment Platform
According to Feeder Africa qwaqwa, “Feeder Africa, registered as Sea of Mountain Trading, is a South African company established in 2017. It deals in trading with all crypto currencies and offers its members an opportunity to invest and get good returns that will change their lives forever. Our minimum period of investment is 30 days and maximum 90 days with interest that ranges from 90% – 250%.”
The scheme went on to explain about it’s system thus: “Feeder. Africa is not a stokvel or peer-to-peer online programme where members circulates money among themselves. Feeder. Africa buys and sells different currencies through its unique international trading software that guarantees 100% profit on all its trades”
Note that Anyone who has a South African bank account can join Feeder Africa qwaqwa. The platform also claims that it’s registered as Sea of Mountains Trading 528. Reg.2006/220070/23 Tax no.9141486168.
On whether there is any refund once investment is canceled the platform revealed :
“After five days waiting period, NO CANCELLATION AND NO REFUNDS. (Members are urged to read contracts at the back office before they invest).”
Convincing people to work with them, the supposed admins behind this scheme wrote: “We have many years experience with operating and participating in successful get-paid-to programs; as such, we have a reputation to keep and will go out of our way to keep members happy! That means reliable payments, quick support and excellent website reliability and uptime.”
Now the problem is that many people have invested in this platform without getting a dime back. What is the intention of this scheme..?? Are these another set of scammers just like Mylifechange..??
The Service operated by Feeder Africa also allows all registered users of the Service (“Members”) to:
- Transfer Bitcoins to other Members or other users of Bitcoin outside the Feeder Africa site.
- Use Bitcoins for purchasing goods.
- Buy the Internet currency known as XRP.
- Access and use the Ripple system.
Is this another crypto Scam ? How do people get their money back. Before we conclude if this is a scam website, allow us to further investigate and research on this. We are trying to find out where it is hosted and the owners of this ‘likely fraudulent’ website.
For now we advice that you stay off the website of Feeder Africa qwaqwa and cease any further investment.