Farcinvestments (farcinvestments.com) claims to be “a global investment Decentralized App/portal(DApp) built on Blockchain. It is a kind of Decentralized Finance(DeFi) built with the going concern mechanism(GCM) hence making the system impossible to attain elastic limit(EL).”
Further down their home page, they present statistics for their operations within the past 2 years.
Looking at the WHOIS information for farcinvestments.com, we found out the domain was registered on the 14th of May 2020. This means the domain is a less than 2 years old. From this we can infer the statistics presented is false.
Going back to their initial claim of being a “global investment Decentralized App/portal (DApp) built on Blockchain,” this statement begs several questions. First which blockchain? Popular blockchains for building decentralized apps are Tron, EOS, NEO, Stellar, Tron, Cardano and Ethereum. There is no place on their webapp where they blockchain used is stated. The next question is where is their smart contract? Decentralized Apps are built using smart contracts, which consists of code. This code is open source so anyone can check to make sure it does what it is supposed to do and not something malicious. As such, there is supposed to be a link to a GitHub repository where this code is stored or a link to the smart contact address on the blockchain where it was built, but we find neither of these. Since there are absent, this is not a decentralized app.
After registering on Farcinvestments, there is a part called “Markets” where investments can be made. Below is a screen shot.
Looking at this list of investment instruments, we can see that they are cryptocurrencies. Clicking on Make Investments opens a page where we can input the amount, we want to invest and our calculated return on investment. For an investment of 50 USD our ROI after 30 days is 8.5 USD.
The first question to ask about this is what does it mean to invest in bitcoin? Is it that the money put in is used to buy bitcoin and sold after 30 days? If it is, since the price of bitcoin fluctuates, it might be less than what it was bought and therefore be sold at a loss. So how do they exactly make the money to pay the 17% ROI? There is nowhere on the webapp where this is explained, or who are the owners, or a physical office location. This are all huge red flags and points to the fact that this is a scam.
Clicking on the payment tab, we find three payment methods listed, PHUSD, Paytrill and Twetacoin.
Selecting the first option PHUSD, we are told that “mypaytril.com Is A Trusted Exchanger To Buy Pathash Dollar (PHUSD).”
So, the two ways payment can be made to this fraudulent scheme is either through Mypaytril.com or Twetacoin. Navigating to Mypaytril.com we find that it is similar to Farcinvestments, for there is no physical address listed on the website and no list of owners or profile those running the exchange. After registering on the site, we find that to fund the account in order to buy crypto, we are directed to another website called seodrill.com
Clicking the “Pay Now” button leads to a flutterwave checkout page for Seodrill.
Seodrill.com claims to be SEO specialists “committed to driving real human traffic to our customers sites/blog.” The question is why would a Trusted Exchange need an SEO website to help it process payments? The answer is most likely that they are both run by the same entities and since they already had a flutterwave checkout page for Seodrill, they decided to use it for Mypaytril to save them the stress of opening another checkout page.
The second payment gateway mentioned, Twetacoin has its own issues. On its website, twetacoin.com, there is no indication of those involved with the project, neither does it list a contact address or phone number. Twetacoin claims to run on its own blockchain called Twetachain. Navigating to the Twetachain website we found that links to the Twetachain Documentation and Developer APIs are not functional.
So, we have something that claims to be a crypto coin but does not list its developers or owners and the blockchain it claims to run on has no documentation. This has all the tell-tale signs of a scam.
From the foregoing, we can infer that Farcinvestments.com, Mypaytril.com, Twetacoin.com and Seodrill.com are all connected and most likely being run by the same group of scammers. Our advice is to avoid all the above listed websites.