Review of the WBank Wallet hype project: exposing a fraudulent scheme

Review of the WBank Wallet hype project: fraudulent scheme and lack of trust

The service WBank Wallet is an online investment platform that has gained popularity for its suspicious activities. Another ultra-new hype aimed at deceiving gullible users. Developers build their plan on simple tricks: the client transfers money to the platform’s cryptocurrency wallet, and then they simply disappear. No explanations follow, you are just blocked and expelled. Not the most cheerful prospect, is it? In this review, we will delve into the workings of wbankwallet.com and examine user reviews.

Essence of the WBank Wallet Hype Project

How is everything arranged on the platform? Everything is simple: you invest funds in your own token WBT (minimum $100), and in return, you receive income. It sounds enticing, but unfortunately, we did not find any trustworthy lucky ones.

The domain wbankwallet.com has been operational for 157 days. According to their roadmap, the investment online platform WBank Wallet started working with its token back in October 2018. This raises questions because how can you develop something without resources?

User information is presented on the site, but we doubt its truthfulness. The developers presented us with a dubious Singapore license that has no relation to cryptocurrency wallets. You can easily check this point yourself. WBank Wallet even provides a link to some unclear resource, which, unfortunately, is not accessible. Another reason to think twice about the hype project.

WB Wallet prides itself on its complete decentralization as it utilizes the ERC-20 token (Ethereum). This is supposed to guarantee the security of storing your funds. However, reviews from deceived investors seem to indicate otherwise.

The investment online platform promises several benefits, but they are not supported by evidence. General statements and empty phrases raise doubts, but let’s take a look anyway:

• protection from third parties,
• analytics and planning,
• instant fund withdrawal,
• attractive investment offers,
• ability to buy and sell coins.

Review of the Official WBank Wallet Website

The initial impression of the wbankwallet.com site is pleasant, and it is difficult to guess what lies behind its attractive appearance. Users are greeted with colorful graphics, the roadmap of WBank Wallet, and even news at the bottom of the page.

Developers slightly confused and added a few sections to their site, going beyond the traditional single-page resource. However, the information is only sufficient for the homepage. The other categories do not offer anything new because the texts are simply repeated.

The site is multilingual and available in 12 versions. This could have been an advantage for WBank Wallet if the translation of texts had been of high quality. Inconsistent endings and clumsily composed sentences are not the only shortcomings we encountered.

How to Register on the WBank Wallet Site?

To register on WBank Wallet, you need to download the mobile application (links are available on the site). Then, create a wallet. Developers have made the process as simple as possible, minimizing it. No extra information or scans—just enter a password with confirmation and provide a partner code (if available).

For emergency situations, you need to come up with a secret phrase. After completing this stage, click the “Open Wallet” button.

Evaluation of the WBank Wallet Investment Program

There are no affiliate programs for investors on the platform, which is very strange. More people—a better scenario for the project. However, for WBank Wallet, apparently, different scenarios apply.

However, the platform entices users with attractive investment offers. The conditions are transparent: you receive profit for your investments. Interest is credited only when you have the WBT token (currently valued at $2.36), which can be purchased on the site.

There are two types of investment programs. The minimum investment amount is $100. In this case, you receive 6-15% monthly profit, but if you invest $3,100 at once, expect bonuses of 15-30%. Unfortunately, these promises do not correspond to reality. The investment program is just a trick to lure clients.

Deposit and Withdrawal of Funds

To deposit funds into the wallet, you need to convert cryptocurrency into the WBT token. Simply click the “Swap” button in your account.

Concerning fund withdrawals, the procedure is similar. You need to exchange WBT for cryptocurrency by clicking “Send.” We could not find precise information about the minimum withdrawal threshold because the developers did not disclose this information.

WBank Wallet Customer Support

There is official support, but its usefulness is questionable. There is no contact phone on the site, making direct contact impossible. The creators suggest sending an email or using the feedback form. However, you have to wait a long time for a response. This is far from a customer-oriented approach.

On Telegram, the platform has a channel that duplicates site news. However, there is no special bot for answering questions. In general, the quality of service leaves much to be desired.

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Conclusion

So, WBank Wallet is a fraudulent hype project seeking to deceive. The platform uses a simple but effective scheme. You create a wallet, deposit funds, and believe in the promises outlined on the site. Then you simply end up without money. No reviews of the platform were found. The absence of a license, informational vacuum on the site, and a young domain all suggest that it’s better not to deal with WBank Wallet.

Author: Alina Maymistova