Dream Farm Review: How Deceived South Africans

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Dream Farm Review: How Deceived South Africans

Dream Farm is a revamp of so many such virtual farm Ponzi schemes we’ve seen so far. Here’s our detailed review for more on this risky online game.

It all started in February 2023, after this app found its way on the Google Store thanks to a heavy marketing campaign. The platform is one of the biggest Ponzi schemes to have hit South Africa and is now repackaged differently in different parts of the world.

Stay away from Dream Farm and  such projects

The platform promised real funds after investors took care of a virtual farm. What most didn’t know is that the app had malicious code targeting Crypto wallets. As such, the need to invest in USDT was the prerequisite of the project.

Hundreds of South Africans have lost their USDT all thanks to this project. And now, we have reason to believe Ant Ranch is tied with this project. Both have now collapsed with investors looking for answers.

Another project similar to Dream Farm was U-FARM targeting USDT investors in South America. The project is still underway but has in the past few days shown signs of defrauding the current crop of members.

Wandile Fadana is one of the victims of Dream Farm who lost over R30,000. Now she has nowhere to turn to.

Here’s our comprehensive DreamFarm Review.

A Brief Overview of Dream Farm

All we know is that Lee is the lead marketer of this project in South Africa. He has been quoted by many victims as the point of contact leading to several investors losing a large chunk of their investment.

Chinese scammers have taken over the South African scene with plenty of virtual games on offer. These games start off excitingly well for players but eventually end up taking advantage of them.

Little is known about Lee only that he seems to have jumped ship and is now residing in Brazil. U-Farm is the hottest virtual game in Brazil that’s a mirror copy of Dream Farm. Not long from now, the project will pull the rag and defraud investors.

Such projects start off by convincing investors there’s everything to gain from virtual farming. Once the crops mature, the platform convinces investors to sell the crops as virtual indices on several markets using USDT.

To start them off, the platform claims to have an account for them gifting them with 100% deposit bonus. This means Dream Farm was to match the number of USDT deposited by virtual game players.

And as such, investors signed up and deposited their hard-earned USDT for the mere chance of profiting from virtual yields. Dream Farm would promise daily guaranteed ROI for yields sold on the exchange.

A great example would be investors who decided to grow apples on Dream Farm. The project promised investors a guaranteed 20USDT daily capped at 3,600. Sadly, there was no mention of vesting days.

All investors had to do to receive 20USDT daily was to deposit 800USDT for the apple farm venture. And most investors heeded this call seeing they would triple their investment. That started a roller coaster of emotions for investors.

How Dream Farm Convinced investors to sign up and deposit funds

The game plan was to use a Dream Farm Token as collateral for USDT deposits made by investors. Which means investors would get DFT as collateral for the USDT vested for the duration of the yield program.

What most investors didn’t realize is that the project was severely underfunded. The DFT was worthless as it had a negative value in the real Crypto exchange world. Lee and his team wanted to strengthen the coin using USDT derivatives as back up.

High profit margin claim is the closest thing Lee would offer to financial freedom. What Lee failed to mention was the vesting period necessary to see this through. And so, investors blindly deposited their USDT without prior information of the day of withdrawal.

How deceived investors

In any staking investment, transparency is key with investors needing to have all the information. You need to have the expected ROI and exact number of vesting days. Even crops take a certain time to grow and mature, so does staking.

Lee didn’t like the fact that some investors would ask questions of when they would get to withdraw funds. Such queries were greeted with Dream Farm closing accounts of investors who seem not to trust the project’s viability.

Anonymity was the key to Dream Farm’s success in South Africa as investors blindly deposited funds without asking questions. And when the time to withdraw funds came, Lee had already closed shop and headed to Rio.

Dream Farm is now operating in Brazil, Kazakhstan, Peru, and Russia. The platform goes under different names including FX Farm and Peace Ranch. India is another target of such projects with authorities eager to get a hold of this Chinese syndicate.

Scammed by Dream Farm?

With hundreds of investors losing their funds with the project, it’s clear we are dealing with a rogue platform. An international scam, syndicate operating from multiple jurisdictions is hard to apprehend.

Investors need to have the right information on crypto investments and unrealistic profit margins. What we have with Dream Farm is an exact copy of several other such-like projects in the past. You need to steer clear of any project lacking proper information.

Lee and his team managed to fool investors by creating a game that solicits funds in USDT. Farming of all games seems like a creative way to encourage farmers to get involved. The produce was the profit that would later cause havoc for players.

Weeks to withdrawing funds or yields, the project would either shut your account down or demand more funds. Most of the investors were angered by the fact that to withdraw funds, you had to deposit half of the account balance.

This was a way for Lee and his team to take a final sweep at your USDT balance. With this in mind, the platform also started using backlogs to gain access to wallets on your mobile. There are some players who would find their wallets hacked with no crypto balance.

Dream Farm is one of the biggest scams to hit South Africa with investors losing millions in USDT. Others funded the project using their life savings which is even more painful. Authorities are still not close to catching Lee and his team.

Dream Farm Complaints and User Experience

Wandile is not the only investor who lost a large chunk of her investment to Dream Farm. There are tens of thousands of South Africans who rushed to exchange their rand for USDT to play this game.

Before you invest in any project, you must do due diligence and find out whether the project is viable. You can also reach out if you have any concerns, doubts, or queries and we’ll be happy to help.

A review of any of the projects you’re interested in could help you make the right decision.

Legit or Scam (High-risk) Dream Farm?

Clearly, Dream Farm is a high-risk no-reward platform targeting investors. You need to stay away from this project or risk losing everything.

Verdict Dream Farm

After seeing how many South African investors lost their way with this project, Dream Farm is a no-go zone for investors.

The surest way to earn passive income with crypto is by going for projects with verified performance.

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