Morris Coin: A Guide To Investing In The Crypto

Morris Coin is a cryptocurrency ICO scam that emerged from Kerala, India. The accused, Nishad K, a 31-year-old resident of Kerala, and his partners allegedly collected deposits from investors under the guise of an Initial Coin Offering (ICO) for the launch of the Morris Coin cryptocurrency. Over 900 investors were cheated out of ₹1200 crore through this scam, which offered returns of up to 3% per day on an investment of ₹15,000. Unsuspecting investors were lured through WhatsApp messages and celebrity endorsements. The website and marketing strategy used by the creators of Morris Coin were deceptive and lacked transparency, with no information about its creators, backers, or official business address. The cryptocurrency also lacked a blockchain ID, which is a core component of any legitimate cryptocurrency.

Morris Coin is a scam

Morris Coin is a cryptocurrency ICO scam that emerged from Kerala, India. The accused, Nishad K, a 31-year-old resident of Kerala, along with his partners, collected deposits from investors under the guise of an Initial Coin Offering (ICO) for the launch of the Morris Coin cryptocurrency.

Over 900 investors were allegedly cheated out of ₹1200 crore through this scam, which promised returns of up to 3% per day on an investment of ₹15,000 made to purchase Morris Coin, a fake cryptocurrency. Unsuspecting investors were lured through WhatsApp messages, where they were offered ₹270 every day for 300 days and 15 Morris Coin cryptocurrency worth ₹1,500 each. The agents who brought in investors were given 10-30% in commissions.

Nishad K meticulously executed the plan by conducting promotional events with celebrities, creating flashy websites, and promoting the investment opportunity on YouTube. He falsely claimed that the Morris Coin would be listed on the Franc exchange, a fake crypto exchange based in Coimbatore, after which the value of the tokens would increase multifold. However, the coins were never listed, and investors' funds were transferred to shell companies.

The Morris Coin website is highly suspicious and deceptive, lacking any legitimate information about the founders, official addresses, or technical details about the currency. Morris Coin is just one of many fraud companies that try to confuse users with terms like multi-level marketing, blockchain, and cryptocurrency, making them believe they are investing in future technologies.

The Enforcement Directorate (ED) has seized assets worth ₹14 crore in relation to the Morris Coin scam, including bank accounts and properties of the accused and their associates. The ED investigation was initiated based on multiple FIRs registered by cheated investors, and the prime accused, Nishad K, has been arrested and charged under the Prevention of Money Laundering Act (PMLA), 2002.

No blockchain ID

Morris Coin is a scam and does not use blockchain technology. As a result, investors will not be given a blockchain ID, which is the core technology behind every cryptocurrency. This is a major red flag for investors.

The absence of a blockchain ID means that there is no way to track the funds being raised by the ICO project. This lack of transparency and accountability raises serious concerns about the legitimacy and security of the investment.

Additionally, Morris Coin does not provide any official information about its founders, board members, investors, objectives, or value proposition. The website lacks specific details about the cryptocurrency's operations, and there is no white paper or other useful documents available for investors to review.

The lack of a blockchain ID, combined with the absence of critical information and transparency, should serve as a warning to potential investors. It is strongly advised to conduct thorough research and due diligence before considering investing in any ICO project, especially one that does not utilise blockchain technology and lacks proper disclosures.

To avoid falling victim to scams, it is crucial to remember that if something sounds too good to be true, it probably is. Always prioritise your financial security and only invest in opportunities that are transparent, legitimate, and properly regulated.

Non-existent customer service

Investing in Morris Coin is not recommended, as it is a scam. Morris Coin is a fake cryptocurrency that emerged from Kerala, India and has cheated over 900 investors out of ₹1200 crore. The accused, Nishad K, a resident of Kerala, and his partners, collected deposits from investors under the guise of an Initial Coin Offer (ICO) for the launch of the Morris Coin cryptocurrency.

Unsuspecting investors were lured to invest in attractive schemes through WhatsApp messages, where they were offered ₹270 every day for 300 days and 15 Morris Coin cryptocurrency worth ₹1,500 each, on investing ₹15,000 through agents. The agents were reportedly given 10-30% of the commission for making people invest in Morris Coin.

Nishad K conducted several promotional events in the presence of celebrities, introduced investors to flashy websites, and came out on YouTube urging people to invest as much as possible. He promised investors that the cryptocurrency would be listed on Franc exchange, a fake crypto exchange based out of Coimbatore, after which the value of the tokens would increase multifold. However, the coins were never listed, and investors' funds were transferred to shell companies.

When investors stopped receiving money, the whole network collapsed. Investors approached the police, and the case was later transferred to the Enforcement Directorate (ED) due to the enormity of the crime. The ED booked and arrested the prime accused, Nishad K, and attached assets valued at ₹14 Crore under the Prevention of Money Laundering Act (PMLA), 2002.

As Morris Coin is a scam, there is no legitimate customer service to support investors. This is evident in the lack of response from the company and the absence of any official contact information or addresses on their website. Investors who have fallen victim to this scam have reported non-existent customer service, with some waiting weeks or even months for a response.

In conclusion, Morris Coin is a fraudulent investment scheme with non-existent customer service. Investors are urged to stay away from this scam and protect their hard-earned money.

Lack of transparency

Morris Coin is an alleged cryptocurrency ICO scam that emerged from Kerala, India. The scheme lured investors with the promise of high returns, but it was later revealed to be a fraudulent operation. One of the notable red flags regarding Morris Coin is its lack of transparency.

Firstly, the Morris Coin website lacks specific and detailed information about the project. The website contains only generic terms in the description of its products and services, with no documents stipulating or outlining a clear, step-by-step operation of the system. This lack of transparency makes it difficult for investors to fully understand the nature of their investment.

Secondly, the website does not provide any information about the people behind the project. There are no verifiable team members listed, nor are there any details about the creators, founders, or backers of the ICO. This anonymity is concerning, as it makes it difficult to hold anyone accountable for the project's success or failure.

Additionally, Morris Coin does not provide a white paper, which is a standard document for ICO projects. A white paper should offer insights into the project's objectives, strategies, and value proposition. The absence of this crucial document further contributes to the lack of transparency surrounding Morris Coin.

Furthermore, the website does not provide any information about the Morris Coin price, which is essential information for prospective investors. The absence of this information may have been intentional, as it could indicate that the price is unstable or non-existent.

The lack of transparency surrounding Morris Coin extends beyond the website. For instance, the customer service email address provided on the site returned an error message, indicating that the address was invalid or unable to receive mail. This issue raises further concerns about the legitimacy of the project and the accessibility of its creators.

In conclusion, Morris Coin exhibits a concerning lack of transparency in several key areas. From the vague website descriptions to the absence of key documents and team member information, investors are left with more questions than answers. This lack of transparency is a significant red flag and should serve as a warning to potential investors.

Pyramid scheme

Morris Coin is a Ponzi scheme, a type of pyramid scheme. A Ponzi scheme is a fraudulent investment operation that generates funds for earlier investors using the money they receive from new investors.

In the case of Morris Coin, the scam was operated by Nishad K., a 31- or 36-year-old resident of Kerala, India, through three entities that he was the chief executive of: Long Reach Global, Long Reach Technologies, and Morris Trading Solutions.

Nishad lured in unsuspecting investors by offering 'Morris Coins', which were not listed on any known cryptocurrency exchange. Investors were required to put in a minimum of 15,000 Indian Rupees (around $200) for a 'lock-in' period of at least 300 days, and they were promised a minimum daily return of 270 Rupees (approximately $3.70, or 1.85% of the minimum investment).

The Morris Coin website did not provide any information about the people running the project or how it was operated, and the scheme was promoted through social media platforms such as WhatsApp. Celebrities were also roped in for promotional events, and flashy websites and YouTube videos were used to encourage people to invest.

Those who brought in new investors received lucrative commissions of 10-40%, and the network grew rapidly. However, when investors stopped receiving money, the whole scheme collapsed.

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