Watch out for get-rich-quick scams called Oracle Trader

Get-rich-quick scammers are tricking victims into signing up for risky and unregulated trading platforms by using the otherwise legitimate Oracle brand, falsely claiming Oracle is a newly created “neural network” that provides a “stable stream of income” to anyone who signs up.

Using names such as Oracle Trader and Oracle Space Trade, scammers are luring victims to websites with video sales pitches that claim the “Oracle neural network” will “analyse data from the Internet and Interpol” in order to make those who sign up at least 300 euros per day. The site then urges visitors to enter their personal information and make an initial investment, after which they will – according to the claims – make lots of money.

But, as is so often the case when it comes to things on the Internet that appear too good to be true, this is just another get-rich-quick scam aimed at luring victims to unregulated trading platforms that will almost certainly steal their money.

Sponsored Content. Continued below...

Here is a screenshot of a website – in this case oracle-space.trade-x.xyz – promoting such a scheme.

The site also features a range of “testimonials” and claims about how much money someone would apparently make after making an investment.

The site has nothing to do with Oracle the company, as we point out below.

What is Oracle?

In the real world, Oracle is a perfectly legitimate software company that provides various database and cloud services to other businesses. It is currently listed as the second largest software company by sales behind Microsoft. (Though because Oracle provides its services to businesses, its brand is perhaps not as recognisable when compared to companies like Microsoft that offers services to the general public.)

What Oracle is not?

Claims made by these schemes that Oracle is a “program” or a “neural network” or it is some sort of money-making trading opportunity for the general public are categorically false. Scammers have literally just taken the Oracle brand and logo and used it in their scheme to make it appear more legitimate.

Sponsored Content. Continued below...

As is often the case with get-rich-quick scams, they are paying Facebook to appear on Facebook’s Sponsored Ads platform, as per below.

When we registered with the scheme we were directed to a website called SimpleWay.cc, which was created a handful of months ago and, as is typically the case, is just an unregulated broker which requests the victim deposit money to start trading. However since these brokers are unregulated there is little guarantee that they won’t just take your money and run, or claim you lost it while trading.

And all of the claims about earning a “passive income” and becoming wealthy – along with all the other claims in the video sales pitches on these types of websites – are pure fiction. Don’t sign up for them, even if they do appear as an advert on Facebook.

For our recommendations on making money online legitimately, click here.