In this review we reveal a modern scam scheme that is based on the Tron blockchain. See the fraud behind Tron Fonex, TronRidge, Tronax and E-TRX.
What are Tron Fonex, TronRidge, Tronax and E-TRX
Tron Fonex, TronRidge, Tronax and E-TRX are online investment platforms based on blockchain technologies. They use smart contracts to drive the investment system. They alle promise different rewards to their users:
- Fonex: 9.5 to 13.5% daily returns on investment
- TronRidge: 2% daily returns
- Tronax: 0.9 to 1.8% daily returns
- E-TRX: 1 to 3.6% daily returns
All these platform accept investments in TRX (cryptocurrency Tron) only. So, you first have to buy TRX on an exchange, get it into your wallet, and only then you can deposit with these investment platforms.
The question is, are Tron Fonex, TronRidge, Tronax and E-TRX legit? Can you trust them, can they make you money?
Tron Fonex, TronRidge, Tronax and E-TRX are scams
Unfortunately, Tron Fonex, TronRidge, Tronax and E-TRX are scams based on the same scheme. Investment scams that run on the Tron blockchain are popping up these days and these four are only just a few of them.
Smart contract BS
Tron Fonex, TronRidge, Tronax and E-TRX claim that they are secure because they run in a smart contracts on the blockchain. Therefore nobody can hack them, nobody can alter them etc. But that is not true.
You see, smart contracts are just fairly ordinary programs running on the blockchain. The only novelty it brings from the security point of view, is that no third party can change the program.
But the author of the program can still make mistakes in the code or even place a backdoor in the code. In case of mistakes it means that the program can still be hacked by a third party and in case of the backdoor it means that the author can do a rug pull, which means that they can withdraw all the money from the contract.
Simply put, unless you are a very experienced blockchain programmer that can verify the code of the smart contract code, this technology does not inherently mean security for investors. Rug pull scams happen every day in the world of cryptocurrencies.
For example we have reviewed Troncase and Tronvest, which are scams of the same kind that have already crashed. If it has not happened yet, the same destiny awaits for Tron Fonex, TronRidge, Tronax and E-TRX.
How Fonex, TronRidge, Tronax and E-TRX really work
Scams like Tron Fonex, TronRidge, Tronax and E-TRX often start as Ponzi schemes. It means that in the early stages they will pay their users according to the plan. It will help them to attract more users and more money into the system.
Then they will either collapse naturally because of their nature, but more likely their owners will do a rug pull and withdraw all the money from the system and run away. It is as simple as that. Sometimes they have the audacity to immediately launch a new version of their scam with a BS story and ask people to invest again.
Another thing that is worth mentioning is that Tron Fonex, TronRidge, Tronax and E-TRX are illegal investment schemes. And since they need their members to promote the system and refer new members, it could get you into trouble.
Because if you start referring people to either Tron Fonex, TronRidge, Tronax or E-TRX, you will be promoting an illegal investment scheme, which is punishable by the law. And regulators over the world have already started going not only after these schemes, but also after ordinary people who promote them.
This is another reason to stay away from Tron Fonex, TronRidge, Tronax and E-TRX and similar investment platforms.
Tron Fonex, TronRidge, Tronax and E-TRX review – Conclusion
Tron Fonex, TronRidge, Tronax and E-TRX are illegal investment schemes and scams that are sure to collapse. If you don’t want to lose money, you have to stay away from them!
If you are interested in legit crypto investing, try it on a free demo with a regulated broker. With virtual money you will be able to test everything and learn.
If you later decide to invest real money, be sure to understand the risks and to have a proper strategy.