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<center>[Source](https://cdn.pixabay.com/photo/2014/09/28/10/38/road-sign-464653_960_720.jpg)</center>

German outlet "Zeit" published a very good [article](http://www.zeit.de/2018/05/kryptowaehrungen-rendite-bitsequence-sascha-pallenberg) on the crypto investment project called Bitsequence. I want to share the information with you in case you do not understand german.

Foremost this ponzi scheme is even more cocky than Bitconnect. Bitconnect offered it´s investors up to 1% daily revenue. Bitsequence however goes up to 3%! That means you could invest 100€ now and have 500.000€ after roughly 288 days. Because 100*1.03^n = 500.000 has the approximate solution of n = 288. They say they trade cryptos and make their profits like this. Growing your capital from 100€ to 500.000€ is an increase of 5.000x or 500.000%. This is roughly ten times more than ripple gained in 2017. If ripple had the maximum gains in 2017 it would have been only possible to beat ripples gains by foreseeing the dips. This would not only require the most rigorous trading strategy but also insider knowledge around the entire world. Knowing what goverment authorities, financial institutions and important authorities in the crypto space like coinbase are about to announce to the public. It is simply ridicolous.

Now I want to share some infos from the article with you. The owner of bitsequence is named Aaron Ekert. There is also a shill named Sascha Pallenberg. He owns the blog [mobilegeeks](https://www.mobilegeeks.de/) and is employed by automobile titan Daimler. His [twitter](https://twitter.com/sascha_p?lang=en) and [facebook](https://de-de.facebook.com/Saschapallenberg/). [Here](https://de-de.facebook.com/notes/sascha-pallenberg/zocken-mit-bitcoin-und-co-tradebots-die-ich-nutze/1996018714007837/) he advocates for Bitconnect and a sinister TradingBot. I could not find a twitter post where he shilled for any ponzis but that is due to his twitter spam. [Here](https://twitter.com/sascha_p/status/956296732022722560) he admits that he promoted it. However he addressed the risk to lose your entire money. In contrast he also said to his followers that they should not be afraid of warnings by banks. In other words he  belittled the actual risk. He referred 170 people to Bitsequence.

Bitsequence has a lack of security and quality standards. An eMail is enough to register. You do not have to give any other information that is actually important due to legal reasons like your address or something like that. In Germany you need to fill a short survey about your investment and trading experiences if you want to start investing at your bank. You don´t have to do that for coinbase as well, but coinbase at least checks if you are a real person. Bitsequence does not allow to deposit fiat money only cryptos like Ethereum. The author deposits Eth worth 25€. However it took a while for them to arrive. So he checked the blockchain and saw that the address he sent his Eth to is a collecting address. That means you cannot directly send your Eth to the Bitsequence wallet. Every minute hundreds of transfers are being made on this collecting wallet. The author contacted Bitsequence support to elaborate what is happening there. The support refused to respond. He suspects this is being done to mask the transfers and make them harder to follow if the system collapses.

Only after annyoing the support he got his 25€ deposited on his wallet. He wanted to immediately cash out and it took several emails to make them cash out his money (spoiler alert: he has not received it yet). Page 2 is not really interesting. It is mentioned how the pyramid referral system works. It is just the same as every ponzi. And Pallenberg shills yet again saying there would be no proof of a scam and super fast trading bots blabla. The author asks the support how they are able to make 3% per day. They simply refer to their awesome statistics and that they are traders.

So far this is not super incredible information. Very easy to gather actually. On page 3 it is getting more interesting however. The author calls the british number that had been mentioned on Bitsequence´s website. A guy with a deep male voice picked up the phone. Author asked if he is Aaron Ekert from Bitsequence. The guy is confused after being asked about the british phone number and said that he is in UAE and he will ask his brothers about Bitsequence. The author should call again later. Later nobody picked up the phone anymore and the support confirmed that they have a seat in Dubai. However the phone number is for VIP users and in order to get VIP status you need to deposit 50.000€ LOOOL. After that the phone number disappeared from their web presence.

The the author tried an official way and contact them via information they had to give the british commercial registry. [This](https://wck2.companieshouse.gov.uk//compdetails) should be the entry. I guess you have to order the exact details but I am not going to do that now...Whatever the article says it confirms that Aaron Ekert is the owner and the business was started with a mindblowing capital of 1 British Pound. If you send eMails to their official eMail account Bitsequence does not respond. So our lovely author travelled to Leeds where Bitsequence´s seat is located.

During his flight he chatted with Bitsequence. He asked them if Pallenberg is a trustworthy person. They confirm, but the chat partner mentioned somebody called "Goldprofit". Goldprofit appears to be the chat partner. Our author would get special bonus if he is referred by Goldprofit. What the fuck lol? The author arrives at [14 East Parade, Leeds](https://www.google.de/maps/place/14+E+Parade,+Leeds+LS1+2BR,+UK/@53.798875,-1.5513536,17z/data=!3m1!4b1!4m5!3m4!1s0x48795c1db8613da5:0x151580cfa2939a05!8m2!3d53.798875!4d-1.5491649?dcr=0). The concierge has no idea what bitsequence is. At this address there is only a recruiting company, a law firm and her majesty´s courts and tribunals service. The concierge checks the Bitsequence website and says that the pictures of their bureaus can´t be from 14 East Parade. Currently their website is offline so I cannot check their photos myself. However [this](https://www.valforex.com/2017/12/bitsequence-review-bitsequence-group-ltd-is-scam.html) report mentions they use stock photos. And in this video you can see how the website looks. it looks pretty professional on the surface btw
https://www.youtube.com/watch?v=5iB9Vo76vPk
Bitsequence is not even a letterbox company. It literally only exists on paper. The concierge got nervous and called his property manager. After that a proletarian woman laughed her ass off and mentioned that a daily 3% is ridicolous. You have to work hard for your income. Well, a smart woman.

Our author asked the support about the fake address. They didn´t care. They only cared about him depositing more money. Our dear author has not gotten his 25€ back so far.

What is the lesson out of it? Such scams can have professionally looking shills like Pallenberg. They can get through with the most ridicolous claims (3% daily). They do NOT own a legit company and they give false contact data. They do not answer your questions. Let it be your lesson.

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