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What is Double Way and why do we consider it a scam?

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As you know, many fake and Ponzi projects have been created in Iran these days due to the lack of transparency of investment laws using blockchain methods. Among the most famous Ponzi projects at the moment, we can mention Double Way and Crypto Hands. For this reason, we tried to check the Double Way project and see if the claims made in this project are true. Is it possible to get 3500 Ethereum in less than 64 days?


What is Double Way?


Double Way is a Ponzi scheme that attracts capital by claiming to invest using smart contracts.


The membership fee to enter this system is a very small amount and you can become a member of this network by paying an amount of about 300 thousand Tomans. After becoming a member, your activity continues as a sub-collection, and to upgrade your level, you must introduce two people to the system as a referral, and those two people must pay an entry fee of 300,000 tomans to become members of this network.

Why is Double V a scam?


The most important reason for this Ponzi system is the promise of getting rich with a very low amount (around 300 thousand tomans). In general, wherever you see the promise of getting rich with little capital, there is a Ponzi project at work.


In this network, no economic activity is done by itself, and only by introducing new people and receiving input, the profit of old people is paid.


Another important thing is that by joining this system, you have only 64 days to upgrade your level by introducing your friends, otherwise you have to renew your membership level again by paying the initial fee. Repeat your subsets to transfer huge capital to the pockets of the creators.


The next thing is that it is claimed that this system uses smart contracts on the platform of Ethereum, but this claim has no concrete basis. The Double Way project is completely unrelated to the Ethereum digital currency, and the smartness of this project’s contract on the Ethereum platform has been emphasized several times on the main page of this site.


On the other hand, the Double Way website claims that it has made its project available as an open source for the whole world, which is considered as a competitive advantage in 2020 when most of the major software and projects in the world are open source. can’t


How Double V works


By joining this network, you have to pay the entrance fee which is 300 thousand tomans and then introduce two people who will also pay a total of 600 thousand tomans for membership. After becoming a member, to transfer to the second level, your two friends must also upgrade their level to level 2, and for higher levels, the number of introductions will be increased. Now, if you cannot reach the next level in 64 days, you must pay the membership fee again. In this cycle you and your subsets will lose and this cycle will continue.


A little more precision


We said that by joining this network, you have to pay the entrance fee which is 300 thousand tomans and then the two people you introduce should pay a total of 600 thousand tomans. Now the system will give you 600,000 tomans for referring your friends, and in this cycle you will actually lose 300,000 tomans of your entry fee!



I personally love blockchain technology, digital currency and especially Bitcoin. This new technology has brought a lot of good possibilities and has created many changes in the world.


Blockchain and digital currency can create positive economic developments in the financial world in the very near future. In addition to the economy, it can affect all issues in the world and be a positive step towards world integration.


As you know, this technology has caused a series of middlemen to disappear. By eliminating these intermediaries, the cost for this necessary third party is also eliminated. Likewise, this decentralization makes hacking and many frauds difficult and creates a safer system for society.


But no system is perfect in the beginning. One of the problems of this technology, which of course can be one of its good features, is hiding a series of information from the transaction parties, which many fraudsters are attracted to. With the advancement of technology, human intelligence has also increased, which many people use in a negative way, as a result, there have been many types of fraud in the field of blockchain and digital currency, which we briefly discuss below.


Elders against digital currency


Still, many famous people and even great economists are skeptical about this technology and digital currency, or consider it a total scam.


One of these people is Nouriel Roubini, winner of the Nobel Prize in Economics. He considers the field of digital currency to be a fraud and in criticizing the Plus Token fraud scheme, he said that:


Digital currency fraud in 2019 was more than 4 billion dollars and Ponzi schemes are the latest form of Bitcoin fraud and Bitcoin was able to pocket a lot of money by Plus Token.


Also, Peter Sheff, CEO of Euro Pacific, is one of the critics of Bitcoin, who won the award of “the most ignorant person who does not have Bitcoin”. Peter is a fan of gold who considers Bitcoin a scam and a Ponzi scheme! Also, according to Paul Krugman, Bitcoin and new technologies are not particularly valuable.


Using an insecure hardware wallet


A hardware wallet can be the most secure option for storing digital currency, but if a valid wallet is not prepared, fraudsters can easily empty your pocket, they hack the wallet algorithm and balance They transfer it to themselves.

ICO scheme


The initial offering of a digital currency or ICO can be a very profitable investment plan, but fraudsters take advantage of this opportunity and collect a lot of money with the fake ideas they offer. For this purpose, if you want to invest in this field, be sure to read the ICO white paper and get information about the authenticity of the people and their expertise in this field, and even talk to expert advisors.


Among the fake ICOs that reached their peak in 2017, the plex coin benebit and ebit companies can be mentioned.

Cloud mining


To mine digital currency, using pools and servers helps a lot, but in the meantime, there are companies with the promise of high return on investment and by using the large amount of data they have, they take a large amount of people’s capital from them.


For example, the famous Bank of Tron website is one of the latest examples of fraud.