Yolllo – Engaged in an MLM Scam? Hoax Posing as an NFT Platform (Latest 2023 Update)
Yolllo claims to be an NFT-based social media platform for creators. However, it has become notorious as a scam that targets wealthy women from Russia and Ukraine.
Yolllo says it would pay content creators as well as those who like the content.
They are marketing themselves as a futuristic alternative to TikTok, YouTube, and Instagram.
The company is collecting money from consumers based on these claims and promises.
However, it has a ton of red flags indicating it’s not a legitimate crypto venture but a scam.
The first red flag is their VIP business offer which asks you to pay them $50,000.
Apart from the VIP subscription, they have the following subscription plans for creators:
- Light ($100)
- Basic ($300)
- Advanced ($1,188)
- Pro ($3,000)
- Expert ($10,000)
- VIP ($50,000)
However, in exchange for such hefty amounts, you get several ‘arbitrary’ benefits that don’t translate much in the real world.
Yolllo’s scam is similar to another MLM scheme called Gem4Me. The company collects money from people claiming to launch a digital competitor of Telegram and WhatsApp.
How Yolllo is Marketing Itself:
The way Yolllo markets itself reminds me of the various MLM scams that enter the industry.
According to their online profiles, their CEO is Pasha Kidman.
This company claims it’s a “great opportunity” which you might regret not joining.
Their basic service allows you to post one digital art one day. However, their lowest-paid subscription allows you to create 1 NFT.
The company is trying to capitalize on the rising popularity of NFTs.
Also, they claim to provide you with AI-based virtual assistants and tools. They claim you will be able to monetize your creative content and make money.
But the app doesn’t have any significant audience so content creators have no real incentive.
Moreover, to do all of this, you would need to spend hundreds or thousands of dollars on Yolllo.
The actual scam is their pyramid scheme.
The company is showing ‘projections’ to wealthy women on how they can make money.
They divide their pyramid structure into the following levels:
- Producer
- Administrative Producer
- GA Producer
- Line Producer
- Prime Producer
- Executive Producer
- VIP Producer
A Producer is responsible for generating 5 sales for a subscription worth $300. At this level, you will make 5% on every sale your first 5 recruits make. Then, those recruits will recruit 5 more people each.
As you can see, Yolllo is promoting an illegal pyramid scheme. Almost everyone who invests in these schemes loses their investment.
A great example is Penney Ooi’s WFG, a notorious MLM scam that claims to help people make money but ends up causing them to suffer great losses.
What is an MLM Scam?
Multi-level marketing (MLM), network marketing, or direct marketing businesses involve selling products to family and friends as well as recruiting others to do the same. However, some MLMs are illegal pyramid schemes.
Verdict: It is a Pyramid Scheme
Yolllo is marketing itself as a blockchain-based social media platform that lets creators generate NFTs and earn money.
But that’s all just to deceive you into signing up for their MLM scam.
Another MLM scam that promotes itself as a ‘tech’ venture is OmegaPro. The company claims to be a forex broker but in reality, it’s promoting its “Loyalty program” which is its pyramid scheme.
Financial regulatory authorities of France, Belgium, Mauritius, and many other countries have blacklisted OmegaPro.
Hence, beware of Yolllo.
You are at great risk of losing your entire investment and more, without getting anything in return.
My money has gone with them and they haven’t responded to any of my messages for my refund, although I had invested money with them based on their services.
We all are required to investigate the company’s past activities and their returns on investment so that in the future when you have invested, they couldn’t create any issues.
We all are required to investigate the company’s past activities and their returns on investment so that in the future when you have invested, they couldn’t create any issues.
We need to invest our money in firms that aren’t involved in any type of criminal charges and none of the lawsuits are on them.
Avoid doing any type of business with them so that your money is safe with you and also your money is invested in some profitable firm.
They are the real cheaters.
The company has got various fake schemes to attract their investors but their schemes will land into a mess and you will regret investing with them, avoid investing with them, and also there are numerous other safer platforms in the market for investing, where you can invest without any fear.
My money is gone with them and they have never provided the promised input.
Beware and also maintain a distance from this company for any of the investment schemes.
The most nefarious company anyone could think of investing with, they have scammed thousands of their people, so I will request you not to waste your money with them, be safe and search for some other firm for investing, my experience was the worst and will never get into any of these fraudulent schemes.
Need to take your money from this company and invest with others so that they could understand that they are betraying their investors in the name of investment, they have faced several complaints regarding their scams.
They were collecting money based on their services and also the company was not providing the promised services, you can’t trust this venture for investing your money with them.
This man is targeting women from Russia and Ukraine, making them a part of their scam for their profit and filling their pockets.
I can relate to the situation because I am a Russian, we recently found on the news channels that some Russian girls were being scammed by this MLM scheme run by Yolllo. Some researchers said that the company was targeting Russian and Ukrainian girls.
It is very easy to target women especially teens or girls who are trying to become social media influencers, this is a warning to all those who are thinking of investing in Yolllo as this site is just a scam. Their main business is to add new customers for promoting their brand or say it is just a Pyramid scheme.
My experience was heartbreaking. My girlfriend asked me to invest in a similar scheme from a company named Yolllo. It appeared an opportunity to make millions from this company but it came out to be a pyramid scheme. We were still investing and working on it but we were misled because before investing we were thinking that it is a social media platform but we were wrong.
We are one of the scammed customers we are on social media platforms and always dreamed of becoming social media influencers. We came to find Yolllo and we thought that it is a similar platform to Tiktok. But we were wrong. It was nothing more than a Pyramid scheme in the name of social media platforms or say an MLM scheme. ????
My experience was the worst with this company. Yolllo promised to provide high returns but it was a false promise, after investing I found it is nothing more than a Pyramid scheme, and here I was, still dreaming of making millions from these fraudsters.
There should be some strict regulations for these scammers so that they can be under surveillance and asked to refund the money to their users.
I still remember when I invested in the company. The promoter of yolllo told me that they were generating a revenue of EUR 10000 every day. It seemed promising but wasn’t accurate enough. I only saw the reality when I invested my money with these fraudsters. Please don’t fall for this scam.
If you are dreaming of making money then it is free advice not to lose your hard-earned money with this scammer.
These online sites are just degrading the image of the companies by reviewing their thoughts and talking rubbish, sometimes I feel like these are the agents who are trying to mislead the investors.
It is a request to all the new investors not to get stuck with this pyramid scheme where you will regret losing your hard-earned money. My father has recently lost $12000 by investing in some cryptocurrency, we are still in debt, guys be aware.
You will only lose money with yolllo. This company has no regard for customers. I believe that they are lying about their platform. There is no way you will make money with this fraud company. I made the mistake and still regret it.
My friend always shared links related to this MLM scheme from Yolllo but I never showed interest. Instead of investing in this fraudster’s company I asked my friend to take out their money.
Gosh, reading these reviews really put things into perspective. I thought yolllo would be legit but I guess I was wrong.
Im never going to invest in such an obvious scam and this is coming from a guy who got 3 of his friends to start buying crypto.
My money gone too… they are not replying now.
My friends were dreaming of making millions from Yolllo but ended up losing $15000 in total, and now they maintain a long distance from these buttery schemes.
How do I get my money back….they took $10,000 from me. But I have never made any money…plz help me get my money back????????
My sister was always fascinated by making millions from these MLM schemes but she broke when we lost our $10000 from a company. It is 100% possible to make a profit but you have to choose the right palace for investing your money. Sadly, Yolllo is not that place.
You should try contacting their customer support. They should be able to help you get your money back but don’t get your hopes up. I’m fairly sure they stole the funds.
Yolllo is a complete scam. My wife was talking about it, I showed her this article.
I have checked out their website. They are totally a scam. No legit company makes so many bold promises. Don’t sign up.