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Possible Scam Warning: MegaLido.com

November 12th, 2008

megalido-logo.jpgThis afternoon I received a warning about an autosurf site called MegaLido.com indicating that the program may close down soon and move into the scam category if late-arriving “investors” are not paid. John Stankiewicz, a frequent reviewer of cyclers, autosurfs, HYIPs, MLM programs, and other decidedly non-mainstream investment vehicles, sent out a brief email to subscribers informing them that it might be a good time for people who have a significant amount of money in the program to cash out their profits. Here is the text of the message:

js here.

Well, I have warned many folks over private e-mail about Megalido. Many have wondered why I have not joined nor promoted it.

The same is true of some other bloggers that I know.

I think it has become apparent to some of you by now that indeed it is a scam and they are going to run, soon, with your money, if you have anything appreciable in there.

Am sorry, but I did not have the data to support my gut feel on this one. But know that my gut feel is yet true again! Megalido will go down, and soon! And I mean days, if not weeks. Look for red flags. Get the heck out!

That’s all.

I wish MOST of my advice were right. But it’s not. But this time am almost 100% sure that it is right.

Get out of Megalido! And those of you leaders that I warned about this? For shame! You folks care NOTHING about the folks that follow you into these scams! And.. well… ha! There does appear to be a Law of Karma in these here realms! Have a nice day!

js

PS: Oh and do not send me hate mail over this. After all, if they do go down, and they will, I will not have lost you any money by telling you about it! Your inaction will have cost you, that’s all. So don’t even bother. Am not THAT influential after all! OK? Now go and sleep on it.

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Although this latest missive lacks specifics, I tend to agree with its general sentiment because of the timing and the type of program that MegaLido represents. The site’s basic business model, which promises to pay members 12% of their funds for 12 days in return for automatically surfing at least 12 sites per day, is virtually identical to the infamous 12DailyPro, a surprisingly popular autosurf program that was active from May 2005 to January 2006 and was the only such program so far to be shut down by the federal government of the USA. Although many sites in this category are able to derive a small portion of their funds through the sale of advertisements, they are in fact mostly Ponzi-based, which means that profits of current members are paid from funds that come from members who joined the program before them. Such a model is not sustainable over the long term; the promised returns are simply too high to be reliably guaranteed through normal methods of generating revenue.

Of course, it is still possible to make money with these types of programs if one knows how to work the system. However, the economic climate for this “industry” has cooled considerably since the giddy days of 12DailyPro, especially after the tragic decline of the StormPay and E-Gold payment processors, which has introduced even more than the usual amount of uncertainty into this genre. Anyone who wishes to try their luck by “investing” in or promoting a program such as MegaLido should make sure that any funds spent here are not necessary for basic living expenses.


11 Responses to “Possible Scam Warning: MegaLido.com”

  1. comment number 1 by: Webtoolkeeper

    I am closely monitoring this program since it was launched… I already feel something fishy..

  2. comment number 2 by: Edgar

    Hi ppl, check my last news about MegaLido!

    They are changed their terms and delayed payouts for more than 48 days than expected….

    12 days passed since my last investment and they added the profit to another reinvestment and i will only receive it (if they pay) after 36 days.

    Check out my website at PTSCAM.COM to see another ways to generate cash.

    Don’t invest again in Megalido while they are with this changes.

  3. comment number 3 by: John H.

    I have been monitoring Megalido.com for 3 months. My friends got the earning collected to their bank accounts. I too joined megalido but the very next day for my suprise i got a mail from megalido saying that they they cut the earning frm 12% TO Rubbish 4 % and the earnings to be got after 36days of surfing. I didint mind the change,. But the problem came from the point that the admin of megalido never answered to any Support ticket from the customers/members. From here i came to know this is turning into a scam. My friends who invested $2000 never got a reply form megalido’s owner Micheal.

    After 4 days we saw his message pasted at megalido Forum asking for some more money to be lend to megalido so that Micheal can pay an amount of dollars debit to STP (online bank). I got almost 99% sure that megalido was a scam. And even before this megalido pasted a message saying that they wer having a problem with Liberty Reserve bank.

    I say Megalido is scam because it never replied to any of my friend memebers and to me till today.

    Megalido.com is scam

  4. comment number 4 by: Karlonia

    @John H:

    Thank you for your report — this kind of information will be useful for our readers.

    It seems that MegaLido is following the typical pattern of these types of programs. They will start out strong and make some significant payments, but after a few months things slow down and there is not enough money coming in for them to pay everyone on time. That is when they move on to the next phase, which is to reduce earnings and begin making excuses.

    The good news in this case is that you may have some warning before the program shuts down, allowing you to get some of your money out or at least avoid putting in any more spends. Other less scrupulous programs do not go through this phase and will shut down suddenly and without explanation, otherwise known as “pulling a runner.” In this case you can find yourself on the wrong end of some massive losses if you have overextended your “investments.”

    The key to making money with autosurfs and other similar programs is to get in right at the beginning or very close to it. This will allow you cycle your money through once or twice and get your original spend back — anything you collect after that is pure profit. Getting in after 3 months is very risky; the only time where you can still make lots of money in this case is if the program goes viral and picks up lots of members like 12DailyPro did. Unfortunately it looks like MegaLido is running out of steam, but history shows us that there will be other programs to take its place.

  5. comment number 5 by: luq

    yeah this program seemed to get a lot of buzz as it provided a 12% profit in just 12 days..but like all HYIPs megalido too is no exception and does not have the best business model out there so i won’t be a surprise if they run away eventually.

  6. comment number 6 by: Mary W

    Hi everyone,
    Well I just went to try to login and got a refused message. I guess that means that they’ve gone. Anyone else tried? And they reinvested my money with no notice to me. Thank goodness it wasn’t much but these days a dollar is a dollar. Oh Well - I learned a lot.

  7. comment number 7 by: Charles

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  8. comment number 8 by: BarryDavis

    Hi everyone:

    It’s official MegaLido is a scam. I invested only what I could afford to lose in this case $6.00. I surfed and then cashed out, but no money ever appeared in my AP account. I opened a support ticket about this and then noticed the site said it wasn’t taking any new registrations. Now the site isn’t there anymore. This one died quicker than the mother of all scams Bux.to, which is the PTC scam that keeps on scamming.

  9. comment number 9 by: Edgar

    Hi ppl, well i hope that you are wrong.

    Today i can’t open their website, but i was surfing since yesterday.

    I’m on the new plan of 36 days, and 3 more days left for me to withdraw my 144% of my last deposit.

    I hope i can get my hands on it.

    I’m in profit over there with around $200 in profit, but i whish i can earn some more.

    But i think that we all are going to be scammed because there’s no answer from admin since 18 November, and i sent a TON of support tickets.

    I will be the first here to say the opposite if he can pay me….

    but that won’t happen.

    MY BEST ADVICE is to use MLM programs…. well we all know that they are hard to build downlines and create steady incomes… but also we ALL know that they exist for a LONG TIME… and don’t plan to close… there are people with huge profits each month… and some others that are having a hard time to get there.

    Check this instead of HYIP website… because i SAID BYE BYE TO Megalido and HYPE Sites after this scam…
    http:/supowerline.com

    .. shame on you Michael… or what’s is name…

  10. comment number 10 by: Ken

    Most of the HYIPs are ponzi based scheme. Heard of Bernard Madoff. That is the example of it.

  11. comment number 11 by: Habibul Haque

    Seems i m another victim of Megalido.Invested $6 more than 2 mnths ago..Not yet rcvd anything.Moreover i am unable 2 find the website anymore.Whenever searching find an error msg.How fool i am! Still feels happy that i m not invested a lot!!

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