Remember when the British came to India and looted our country’s wealth? While they may be gone, what’s worse is that today it’s those fraudulent apps that seem to drain people’s hard-earned money.
The only difference is that people were unwilling to give money to the Britishers, but invested in these apps willingly, expecting high returns.
One such app that has made a breakthrough is the AI cash app.
The app provides earning opportunities with low investment and high returns.
But what concerns the audience is the question of “Is AI Cash app safe?” Let’s dig deeper into the roots of this application to find out if the AI cash app is legit or not!
Is AI Cash App Safe in India?
The AI cash app is often marketed as a magic loan or earning platform. It keeps popping up in social media ads.
WhatsApp forward and spam notifications, especially if you have been searching for earning opportunities. It promises instant withdrawals and guaranteed high returns.
Imagine investing ₹600 and getting ₹120 daily for the next hundred days which makes it ₹12,000.
The app also assigns daily tasks to users and promises daily earnings of ₹200-10,000.
It seems like a dream to earn more than a corporate employee by sitting at home and working with your mobile phone.
These are some of the investment plans mentioned in the app and all of these have high returns.
It gives you 20x more than your invested money. Does it sound like most of the fraudulent apps?
Well here’s the catch.
According to the evidence, the AI cash app is deeply suspicious and unsafe. It is a scam designed to steal your money. If you look at the app, it has several red flags, such as:
The app operates illegally. It is not registered with legal authorities like RBI or SEBI which means once you invest your money, it is very difficult to get it back.
Several users have reported that the application is unsafe to use. You will find that negative reviews outweigh the positive ones.
If you read the positive feedback of the app, you will notice that most of them are fake. Several five star reviews also report that this app is a scam.
Most of the positive reviews are exactly the same. It appears like the developer prepared a set of 3-4 reviews and gave people money to post those reviews.
It is clearly mentioned in the app description that the user data may be shared with other organisations. Which means your data is not safe with them. They can misuse your data.
AI Cash App Complaints
Users are not able to find the app unsafe until they try to withdraw their funds.
Users have reported that the app has withdrawal issues. 90 of 100 reviews have raised concerns about cash out. The app blocks users’ accounts when they try to withdraw money.
The red flag here is “processing fee” which is asked at the time of withdrawal. When you contact the support for help, they never answer.
This app depicts classic scammer behavior. Take the money and run.
Here are some of the reported complaints of users on the Play Store:
Users have reported that the app has withdrawal issues. 90 of 100 reviews have raised concerns about cash out. The app blocks users’ accounts when they try to withdraw money.
Is AI Cash App Ponzi Scam?
Well, apart from the above risks and issues, there are a few characteristics of a Ponzi Scam. It gives a commission to the users for referring the app.
Once the users stop investing in this application, it eventually vanishes. So investing your money in such scams can be risky.
How to Report The AI Cash App?
If you have been scammed by the application, instead of staying silent like many victims, you should take immediate actions. Here’s what you can do:
- You should file a cyber crime complaint.
- You should file a police complaint at the nearest police station.
- You should gather all the screenshots of transactions and communication.
- You should immediately report the scam on Google play store and spread awareness on community platforms.
- You should alert RBI and SEBI through their consumer grievance pages.
Need help?
We understand that it becomes very frustrating when all our hard-earned money just vanishes in seconds. In case you are confused about how to report a ponzi scheme or such fraud online, register with us now.
Conclusion
Don’t let modern digital looters make you a victim.
Apps like AI Cash are not safe to use because they exhibit similar characteristics to fraudulent apps. Making money is never an easy task.
If someone promises you 20 times more than your investment, you should definitely think twice before investing.
If your money is at stake, you should definitely stay cautious and informed about where it is going.
