Report: Kuilian, a cryptographic maker for the Latin American and Spanish markets, looks like a Ponzi scheme

Kuilian may well be an elaborate Ponzi scheme, according to the latest Tulip Research report. It is a company that provides master node operation software for a variety of cryptocurrencies and targets mainly Spanish-speaking markets, including Latin America and Spain. The company claims to be selling licences for a private piece of software that runs master nodes in a "smart pool" based on advanced machine learning.

Kuilian requires users to pay an "activation/membership" fee of $50 to access their "ecosystem", according to Tulip Research, which has studied the company's dubious business model in depth. After that, users must pay the equivalent of $100 for each license, which the company offers as low - and medium-risk. "Low-risk" licenses provide a 6% monthly ROI, while medium-risk licenses provide 17%. Users get their initial $100 investment back in 1,000 days. Without compound interest, annual returns can be as high as 60-72% or even 180-204 percent (depending on the license).

The company claims that it implements machine learning to select the master node with the highest risk/return. However, the report notes that all information about the master node is public and does not change overnight, so no advanced algorithms are required. Moreover, much of the information listed on the company's website is bogus. (CryptoSlate)

Text link:https://cryptoslate.com

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