Sulim Malook has made a name for himself in the world of cryptocurrency, but unfortunately, it’s not a positive one. Known for his involvement in several fraudulent schemes, Malook’s current venture, Crypto Millions Lotto, has raised significant red flags. This detailed review aims to shed light on his history and the reasons why you should be cautious when dealing with any of his ventures.
Introduction to Sulim Malook and Crypto Millions Lotto
Sulim Malook is the founder of Crypto Millions Lotto, a lottery scheme that claims to offer big jackpots to participants. The premise seems attractive: players can add funds to their accounts using Bitcoin and other cryptocurrencies, and the lotto promises anonymous participation. However, a closer look reveals several serious issues with the platform.
Crypto Millions Lotto has a troubling reputation for several reasons. First and foremost, there are frequent complaints about the delayed payouts. Winners often find that their jackpots are postponed by at least 30 days. Moreover, users have reported problems with their purchased tickets, which sometimes fail to appear in their accounts. These issues raise concerns about the platform’s reliability and transparency.
Here is the review of the user about the scam :
The Problematic Licensing and Withdrawal Limits
One of the major red flags about Crypto Millions Lotto is its licensing. The company operates under a license from Curacao, a jurisdiction known for its weak regulatory oversight. This means that the platform is not subject to stringent checks or regulations, making it easier for unscrupulous operators to exploit the system.
Additionally, Crypto Millions Lotto imposes a withdrawal limit of $12.50 worth of Bitcoin. This limit is unusually low and can be seen as a tactic to discourage users from withdrawing their funds. Such practices are often employed by fraudulent platforms to trap users’ money and prevent them from accessing their earnings.
A History of Fraudulent Activities
Sulim Malook’s problematic history goes far beyond Crypto Millions Lotto. Before launching this lottery scheme, Malook was involved in several other ventures that turned out to be scams.
One of Malook’s previous ventures was the CML Token, which was marketed as part of an Initial Coin Offering (ICO). An ICO is a fundraising method where a company sells a new cryptocurrency to investors, with the hope that the value of the coin will increase as the company grows. Malook claimed that investing in the CML Token would give people a stake in his lottery business. However, the ICO never took place, and many investors allege that the CML Token was a scam. They believe that Malook misappropriated their funds and that the token was nothing more than a ploy to steal money.
The website used to promote the CML Token is no longer functional, further complicating efforts to trace the scam’s details.
The LuckyGiftCards Scam
Following the CML Token fiasco, Sulim Malook launched another venture called LuckyGiftCards. This company was supposed to sell lottery tickets linked to the CML Token. The idea was that users could purchase cards, which would then allow them to participate in draws. However, LuckyGiftCards turned out to be another fraudulent scheme.
Similar to Crypto Millions Lotto, LuckyGiftCards promised users the chance to win big prizes, but the reality was quite different. The website for LuckyGiftCards is no longer operational, and users who purchased tickets reported that they never received any winnings. This scam was particularly egregious because it exploited the same tactics as Crypto Millions Lotto, including false claims and unfulfilled promises.
Sulim Malook’s Other Ventures
Before his involvement with Crypto Millions Lotto and LuckyGiftCards, Sulim Malook was associated with a company called Ofertas365 Ltd. This company was used to market the CML Token and was part of Malook’s broader pattern of deceptive practices. Ofertas365 Ltd has since become defunct, but it was another link in Malook’s chain of fraudulent ventures.
Malook’s pattern of behavior suggests that he is a serial scammer, with each new venture building on the tactics of the previous ones. His companies often make grand promises of high returns or big jackpots but fail to deliver on those promises, leaving users with nothing but frustration and lost funds.
Family Involvement and Controversies
Adding another layer to the story, Sulim Malook’s daughter, Natasha Malook, has her own controversial history. In 2014, Natasha was arrested for her behavior towards police officers. Reports indicate that she was heavily intoxicated and used racist slurs against the officers. She was charged with racially aggravated threatening behavior and pleaded guilty to the charges.
Despite this troubling past, Natasha Malook is involved in her father’s business ventures. This association raises further questions about the integrity and ethical standards of Sulim Malook’s operations. When a person with such a history is involved in managing or promoting financial ventures, it adds to the overall distrust and skepticism surrounding those ventures.
Why You Should Avoid Crypto Millions Lotto
Given Sulim Malook’s extensive history of running fraudulent schemes, it is highly advisable to avoid engaging with Crypto Millions Lotto. The combination of delayed payouts, low withdrawal limits, and a history of deceptive practices strongly suggests that the platform is not trustworthy.
some key reasons are given below to avoid Crypto Millions Lotto and similar ventures:
- Delayed Payouts: The frequent delays in jackpot payouts are a major red flag. Legitimate lottery platforms do not typically withhold winnings for extended periods.
- Low Withdrawal Limits: The unusually low withdrawal limit of $12.50 worth of Bitcoin can be a tactic to prevent users from accessing their funds.
- Weak Licensing: Operating under a Curacao license, which is known for its lax regulations, means that there is minimal oversight to ensure the platform’s legitimacy.
- History of Scams: Malook’s track record of running scams, including the CML Token and LuckyGiftCards, demonstrates a pattern of fraudulent behavior.
- Family Involvement: The involvement of Natasha Malook, with her own controversial background, further complicates the trustworthiness of the ventures.
Conclusion
In conclusion, Sulim Malook’s ventures, including Crypto Millions Lotto, have a long history of fraudulent activities and deceptive practices. His track record of running scams and the problematic features of Crypto Millions Lotto make it clear that users should approach this platform with extreme caution, if not outright avoidance.
If you are considering participating in any crypto-based lotteries or investment schemes, it is crucial to conduct thorough research and ensure that the platform is reputable and well-regulated. There are many legitimate opportunities in the cryptocurrency and lottery markets, but it is essential to steer clear of those with a history of scams and unethical practices.
By being informed and cautious, you can protect yourself from falling victim to fraudulent schemes and ensure that your investments are safe and legitimate.
