Another 119% Lie: BUSDmatrix. What to Know Before You Invest.

The team behind the BNBmatrix lie is back with a new grift: BUSDmatrix.

The pitch — even website graphics — is identical: Earn as up to 17% per day for a weekly return of 119%. Even the website Bitcoinist, which pretends to be the “ultimate news and review site for the crypto currency community,” bought into this mathematical claptrap with a story this week calling BNBmatrix a “Stable & Profitable Yield Farming Dapp on Binance Smart Chain.”

Sure, let’s go with that, Bitcoinist…

The truth is slightly adjacent to that.

As I wrote recently, the promise of 119% per week is 100% bogus.

Even the owners of BNBmatrix conceded this in a Telegram chat with me. They told me that they have to compete with all the other high-yield crypto offerings now being advertised, so they have to propagate the lie.

From the BNBmatrix team:

If the shown amount is 19% instead of 119%, instantly no one will [ever] invest in [BNBmatrix] because clearly 19% means they only get 19% of their investment… 119% will be something people will want to play with because they understand that 100% is their initial investment back and 19% is their profits.