Every day you read news about the most recent crypto scam. Websites are shuted down, social media accounts go missing, and the team stops responding to the questions.
While this can happen in any industry, the cryptocurrency industry seems to be especially fruitful for scammers. Nowadays you don’t see one or two people trying to illegally get funds, but entire teams.
And this brings us to the topic of today’s article. In this article we’re going to analyze Profit Foundation.
Apparently it’s a blockchain-based platform, for which presale is live at the moment. So far, they managed to raise $136875.17. Or that’s what they claim. According to its website Profit Foundation is:
”A company which specializes in development of the IT technologies based on implementation of artificial intelligence and robotics in alternative financial institutions for the purpose of their direct and maximum development and improvement…”
This is just one small part of the explanation of what the company actually does, the rest of it is just like the above: completely unclear, with vague and general statements. But this isn’t the only red alarm.
There are plenty of them, and in this article we’ll touch on some of them.
Ready to dive in?
What exactly is Profit Foundation’s business model?
On their flashy website you can find a page (with the name Business Model), but no actual explanation of the mentioned. After doing some additional research, and finding the User’s Guide, some information surfaced.
There is a long and completely unclear explanation that the company solves the current problems of IT and the crypto industry with the help of artificial intelligence.
But what problems and how remains a mystery. Which applications of artificial intelligence? Where is the white paper that should explain all that?
How should companies or individuals work with Profit Foundation? What is the process, and how to should they use their platform? And why is there no information about this company on the Internet?
Unfortunately, we couldn’t find answers to those questions.
No information about the team
This is usually the first sign of a cryptocurrency scam. Who are the people behind this project? On the official website, there is no page dedicated to the members of the team. Absolutely no information about the CEO, developers, etc.
When going to the contact page, all you can see are some generic emails such as:
But not a single name.
Social media profiles
Do you remember reading about the abandoned or inactive social media profiles at the beginning? Well, here you can see how that actually looks.
On their social media profiles like Instagram, Twitter, or Telegram, there is only couple of followers (read: 2, 3, or 4).
Plus, you can only find some basic posts with announcements about how the Profit Foundation website is now available in Spanish, Russian, etc.
Final words about Profit Foundation
Is Profit Foundation a scam? Well, one thing is sure: It has a lot of characteristics of a scam company. Except for a (badly create and written) website, there is nothing more that can be found about the company.
Our advice is not to invest or give any money to Profit Foundation. However, it’s up to you to educate yourself, do the research, and come up with the final decision.