Altsurf site offline with reports that members could not recover their...
By stiener
@stiener (735)
Singapore
November 22, 2008 12:50am CST
investment.
Well it seems that Altsurf has turned out to be another plot to pull in investors and just run off when the site hits jackpot. Their site stats really look very impressive...more and more HYIP are closing down with some admin running off with the members money...how much can we trust reputable HYIP like Megalido and Instant2u...will they be part of the plot to attract large pool of investments and run off out of a sudden?
I hope that if there are MyLottians who have funds in Altsurf be able to recover their money through the processors...
1 person likes this
2 responses
@rosdimy (3926)
• Malaysia
22 Nov 08
I have never joined any HYIP however impressive their sites are. Usually it is the first comers or early birds who make a profit. As for the rest they can only dream of getting their money back.
However impressive they may seem to be, there are questions which need to be answered first. How can they give a high return in a short time? If they are involved in investment activities then they should explain the activities and companies they are involved in. Stock trading? Then the same arguments apply.
If HYIPs are so good why is it reputable companies do not get involved in them? Why does not the government use them as a steady source of income instead of imposing taxes on the population.
@stiener (735)
• Singapore
22 Nov 08
So the non-greedy early birds will be the ultimate winner in this case...the early birds that I am referring to are those second wave investors who have seen others getting their payouts and invested their money...probably after 1 or 2 investments, they pull out of this site and move on in search for other new promising sites...
@chiaeugene (2225)
• China
22 Nov 08
if they run off with members money, can members complained against them to freeze their money in either paypal or alertpay or whatever processors they are using. if they have not transfer the funds out of their account, there is a good chance that members would get back their money, am i right?
@stiener (735)
• Singapore
22 Nov 08
Well...this is the loophole...it only takes an average of 3-5 days to withdraw the funds of Alertpay or Paypal account to a local bank...if you are the admin, would you take the risk of not testing via which country would it take the shortest time to get the money? Well...most HYIP's requirement is that the capital must be invested for 10 - 14 days while they give you parts of your capital plus returns on a daily basis...so...the moment they receive the cash, the can immediately request for a withdrawal with some money left or simply use a prepaid debit card to credit the account on a daily basis...in this case the admin has ample time to withdraw the pool of investments and getaway with it.
You see...HYIP with admins that are out for a major scam fishes for big investors...they will probably payout on a regular basis to initial investors and they will spread the word to many others...while more investors are attracted to the site...the initial investors may in turn invest what they have earned to get more return. It is the greed and impatience factor that made they come back for more...considering each investments that each investment will take about 10 days to breakeven and 14 days to cash out...why not throw in a big sum and maximize my return fast...
All in all...we cannot rely on the processors to return the money to us...especially when there are no balance in the admin's account...if the members pay HYIP through their credit cards, they may want to file for a chargeback...
