Warren Finance’s website lacks transparency because it does not reveal any ownership or executive information. A similar GitBook for Warren Finance introduces key players such as “Moonshot Max,” “Math,” and “Nomad” as the scheme’s masterminds. Interestingly, the only contact information available for these individuals is Telegram user accounts, which raises immediate issues.
Moonshot Max, identified as a likely US national based on his accent in YouTube videos, is linked to the promotion of questionable cryptocurrency investment schemes, most notably the crashed and relaunched Drip Network. Furthermore, Warren Finance’s privately registered domain name, “warren.finance,” which was registered on November 10th, 2023, adds to the doubt. This lack of openness, combined with troubling links and actions, necessitates a closer look into Warren Finance’s legitimacy and operations.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Warren Finance is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Warren Finance, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Warren Finance distinguishes itself by offering no retailable products or services. Affiliates are limited to marketing the Warren Finance affiliate membership itself.
Affiliates at Warren Finance are encouraged to invest in DAI with the promise of a 2% daily Return on Investment (ROI), capped at 175%. The compensation plan includes a 0.05% conditional bonus for those who choose not to withdraw funds and for those who invest a specific amount (153,129 DAI). An additional 0.1% bonus is applied for every 4,287,612 DAI invested into Warren Finance.
Notably, Warren Finance diverges from traditional MLM compensation plans by employing a unilevel compensation structure. In this structure, an affiliate is placed at the top, with personally recruited affiliates forming subsequent levels. The referral commissions, calculated through five levels of the unilevel team, range between 2.5% and 10% of DAI invested by personally recruited affiliates. However, the required downline investment volume to progress from 2.5% to 10% is not disclosed by Warren Finance.
While Warren Finance offers free affiliate membership, active participation in the income opportunity necessitates an investment in DAI.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Warren Finance tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Warren Finance reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Warren Finance, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Warren Finance enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Warren Finance reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Warren Finance.
You should always look out for consumer complaints. In the case of Warren Finance, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Warren Finance? You can share your complaint in the comment section or submit an anonymous tip.
Warren Finance adopts an unauthorized use of Warren Buffet’s likeness in its marketing, reminiscent of crypto scams that exploit well-known personalities like Elon Musk. On the regulatory front, Warren Finance is implicated in securities fraud, wire fraud, and money laundering, constituting a serious legal issue.
Furthermore, with “Moonshot Max” appearing to be a US national, Warren Finance falls under the jurisdiction of the SEC. A search on the SEC’s Edgar database reveals that Warren Finance is not registered, indicating its illegal operation as a Ponzi scheme.
Warren Finance operates as a Ponzi scheme, where new investments are misappropriated by Moonshot Max, co-conspirators, and early investors. Like other MLM Ponzi schemes, when recruitment wanes, so does new investment, leading to a collapse in the system. The use of the WARREN token in this scheme mirrors the model seen with Drip Network and its DRIP token.
However, it should be noted that WARREN is a PRC-20 token created on PulseChain, owned by Richard James Schueler, who has faced legal action from the SEC for misappropriating funds. The collapse of Warren Finance would leave investors with worthless WARREN tokens, emphasizing the inherent risks associated with such schemes.
Warren Finance is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Warren Finance can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Warren Finance?
All the evidence suggests that Warren Finance is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Is Warren Finance a scam?
Can I withdraw money from Warren Finance?
Where is Warren Finance Located?
How do I get my money back from Warren Finance?
Launch a website/app with a generic name
A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.
Pay influencers & social media pages to promote the scheme
By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.
Send thousands of emails and make cold calls to potential victims
It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.
Make victims feel safe through “small wins”
Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.
Convince victims into investing large sums of money
Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.
Disable withdrawals & take down the website/app
Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.
Repeat the cycle
After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.