Snap Innovations: This Industry Is Running a Ponzi Scheme. The Truth Exposed (Update 2024)

Snap Innovations is a dangerous Ponzi scheme focusing on the crypto industry. The company uses deceptive marketing and has shady leadership. Find out more in this detailed

What do know about Snap Innovations?

Snap Innovations is a Singapore-based Ponzi manufacturer. Snap Innovations is linked to known Ponzi scams such as Cloud Token and Torque Trading.

Snap Innovations attempted to dissociate itself from its scams after Torque Trading just went bankrupt.

SnapBots Ambassador Amin Sukisawn is the only Snap Innovations employee named as a SnapBots Ambassador on the company’s website, while SnapBots marketing material also names Snap Innovations directors Donna Lee and Tan Duong as SnapBots Ambassadors.

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SnapBots’ “research team” is credited to the remainder of Snap Innovation’s management staff.

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RoboFi is the usual cryptocurrency trading bot Ponzi scheme.

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The fraudsters from the Torq Trading and Snapbots Ponzi schemes have returned with new scams. RoboFi’s website refers to the company as “powered by Snapbots Limited” rather than its true name. SnapBots, which debuted in 2018, was the predecessor of Snap Innovations Ponzi before Torq Trading.

At some point, RoboFi updated their lite material with a more basic version. RoboFi reduced its lite paper from thirty-four to fifteen pages. The new lite paper does not include Ting Shang Ping and the gang.

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Snap Innovations is owned by Ting Shang Ping. He and Bernard Ong were the masterminds of the Torq Trading Ponzi scheme. Torque Trading went live in late 2019. It was a straightforward crypto trading bot Ponzi scheme based on TORQ Ponzi points.

How exactly does a Ponzi scheme operate?

An investment fraud known as a Ponzi scheme draws investors with claims of great returns and no risk but fails to invest the money as stated. Instead, it pays off earlier investors with money from future investors while maybe keeping a portion of the profits. These schemes typically fail when recruiting investors becomes challenging or when multiple investors attempt to cash out. They depend on a steady flow of new buyers to operate. They are called after Charles Ponzi, who ran a similar scam using postal stamps in the 1920s.

Even though Torque Trading was started by Snap Innovations after it failed, Snap Innovations and Ping attempted to dissociate themselves from the scam. Ting Shang Ping even submitted a false DMCA to conceal BehindMLM’s investigation into his fraud.

23/12/2023 Update
As of now, Snap Innovations has not responded, nor has it apologized for its misdeeds. They have ignored our efforts to highlight the problems faced by their victims. Furthermore, they have only focused on propagating their fake PR.

Snap Innovations and Ping return to RoboFi for another attempt at the crypto investing scam Apple. Investors in RoboFi make investments in Bitcoin trading bots. RoboFi is introducing their bots as promotional activities and has coined the term IBO (“initial bot offering”).

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RoboFi is based on VICS, a BEP-20 token that Snap Innovations could have created in five minutes.

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Wash trading VICS is most likely Snap Innovations and RoboFi’s lone trading activity. Aside from that, RoboFi is the usual “passive income” Ponzi scheme that serial scammers are known for.

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RoboFi lacks an MLM component. So, except for documenting Snap Innovations and Ping starting a new fraud. Finally, neither Snap Innovations, RoboFi, nor Ting Shang Ping is registered to sell securities in any country. Without an MLM component, passive cryptocurrency investment plans are still deemed securities.

Anyone considering investing in RoboFi ought to catch up on Snap Innovations’ Torque Trading disaster.

What changed Snap Innovations?

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Ting Shang Ping, AI Research at Snap Innovations, sent an email out of the blue that altered everything.

Snap Innovations advertises itself on its website as an Artificial Intelligence, Blockchain, Financial Trading & Technology Solutions company.’

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Snap Innovation and Torque Trading are linked by the following key players:

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  • Bernard Ong – Director, Snap Innovations/only known Torque Trading admin
  • Zee Wu – Director, Snap Innovations Vietnam/ Torque Trading CTO
  • James Teo – AI, Banking Mentor Snap Academy/Torque Trading CIO
  • Jackson Png – Director, Snap Innovations/ Torque Trading CMO

Snap Innovations has removed Bernard Ong, Zee Wu, and James Teo from their website since Torque Trading’s demise. Jackson PNG is still available, which we can only presume is an error. This is not Snap Innovations’ first MLM Ponzi scheme.

Semjon joined Snap Innovations to Cloud Token in December 2019. 

How can you claim Snap Innovations had nothing to do with Torque Trading if more than half of your executive team is involved?

Following the October 2019 collapse of Cloud Token, Snap Innovations went through the same “we have anything to accomplish with the Ponzi scheme that we’re in bed with” routine.

Snap Innovations employs the DMCA as a safeguard

What is DMCA?

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The Digital Millennium Copyright Act is abbreviated as the DMCA. It was founded in the late 1990s in response to emerging innovations that made piracy easier. 

It safeguards artists working in several artistic mediums. Its goal is to prevent unfair content use. Fair use still permits anyone to utilize content to generate new content if the end product is transformed into a fresh idea that offers benefit to society.

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Source

So, the corporation uses DMCA as a protective shield to secure its company’s image, and Snap Innovation is doing the same thing by presenting the aforementioned DMCA certificate.

What does the description of complaints mentioned in the certificate say?

The URL in question is “https://behindmlm.com/companies/snap-innovations-seeks-distance-from-torque-trading-ponzi/, which shows an image of me and the name Snap Innovations without their permission

They have not provided permission for their image or company name to be used in any form, and they have received no remuneration or recognition for this use. 

This unlawful use of their image and the firm name has caused them a great deal of pain and suffering because it misrepresents my affiliation with the website and violates my intellectual property. 

As the owner of their likeness and a copyright holder, they request that you delete the URL in question from your search results since it is infringing on their rights and causing them harm.” And we now know that it is not faithful at all.

Conclusion

So the argument is that Snap Innovations is a sea of Ponzi schemes. It is completely fake and it has utilized DMCA to clear its image to go for more photos. Its whole team is full of fraud individuals.

2 Comments
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  1. Can we write some credible article rather than you gather wrong info and write whatever it is? have you ever even looked at the robofi website? I took a look.. there is no where ponzi thing and it’s just API trading bot. So how do you say ponzi scam? ponzi means pyramid affiliates no? At the end this article is non-sense.. without any proven evidence.

  2. RoboFi running fine for 2 years and snapbots still operating normally. How it’s the scam? Do you even know what is the scam means? What a nonsense article. Go and monitor or research better and write a better article for users, rather than calling everything scam LOL.

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