2020 is just that year that everything seems to be coming to light when most hoped it wouldn’t. A bombshell report published this week by Muddy Waters Research appears to confirm longstanding allegations that some of the web’s most recent popular websites in fact are scams. The daming report shows that first things first — Bigo Live is not what it says it is.
In the mile long report, researchers found that at least 90% of the revenue and the like from BIGO is actually faked. That means that people may not actually be earning the monies they’ve claimed to have earned on the site simply because as the report shows a large chunk of the “die hard fans” on the network are actually carefully crafted bot networks.
Popular online dating site Baidu is also implicated in the report because they appear to be ready to buy BIGO, however, nothing about BIGO appears to be real. Baidu does appear to know of the fraud allegations against BIGO, although, due to the fact they themselves are struggling it remains unclear whether or not they will address them.
The fraud investigatio reportedly started after it was revealed that BIGO Live is going to be sold for $3.5B but nobody could confirm the existence of financial records in accordance with the law.
It also appears that BIGO Live has been faking their revenue this entire time. The same report goes on to note that they’ve been cooking their books since their inception.
You literally can’t make this stuff up. Muddy Waters reportedly spent more than a year investigating the site just shortly after reports surfaced that users weren’t getting the monies and such they were promised.
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