It has been a while since we debunked some online job opportunities that pop up to steal money from vulnerable young Kenyans. Today we look at E-Ken, a supposedly order-grabbing website that uses machine learning to make you money while you do nothing, is it a scam?
The website is fairly new, Whois data shows it popped up just last month which is the first red flag as there are no positive reviews on the internet about the platform.
What Is a Ponzi Scheme?
A Ponzi scheme is a fraudulent investing scam promising high returns with little risk to investors. A Ponzi scheme is a fraudulent investing scam that generates returns for earlier investors with money taken from later investors. They are based on using new investors’ funds to pay the earlier backers.
These schemes tend to eventually bottom out when this flood of new investors dries up and there isn’t enough money to go around. You can find a list of such companies here
“is E-Ken Legit?”, “Should I invest in E-Ken?” No, it is definitely a money grab. E-Ken is a scam!
The platform follows Amazon Web Worker business module to the teeth, while you can join for free, you have to buy tiers to make money doing ‘daily’ tasks. Alternatively, there’s a referral program.
I would suggest you avoid platforms like this to avoid losing money! Happy holidays.