Complete and utter scammers - STEER CLEAR.
Complete and utter scammers - STEER CLEAR.
Disclaimer: I have (until now) been a loyal customer for three years and have never once withdrawn or gone against their ever moving goal-posts of what constitutes "a violator" of terms that they use to renege on obligations.
Plutus has been circling the drain for quite some time at this point and it's a non-stop barrage of painfully poor management & communication, open hostility and totally tone-deaf changes, widespread censorship to the point alternative communities have had to spring up to be able to discuss and air grievances without being silenced.
The project is rotten to its core with leadership that have no clue what they're doing, moderators/"ambassadors" that have no clue what's happening and having to constantly u-turn and openly and unashamedly abusing their customers.
Their latest stunt (of MANY) involves forcing withdrawals to retain existing benefits, unless you're "lucky" enough to be one of their golden children given "free" withdrawals of funds you've already EARNED fair and square via monthly subscriptions AND paid-for reward cap increases (which was yet another stunt they pulled last year) out of the blue with a few weeks notice.
This is all while simultaneously locking crypto withdrawals behind a 33% (fiat only) withdrawal fee airing this as a "feature" for "sustainability". Nevermind the fact you have to have a paid monthly subscription fee to even have the privilege to PAY the 33% for withdrawal. This is extortion, holding funds for ransom plain and simple, and is a textbook pig butchering scam - I don't care how they spin it.
The absolute kick in the jewels is them subsequently holding "competitions" for showing off happy screenshots bragging about their withdrawals; they could not be more out of touch and deluded if they tried. The complete lack of self-awareness is astounding and this is well beyond abusive.
DO NOT, I repeat, DO NOT trust them with your money. They will milk you dry, if they don't get completely buried under lawsuits first. They are not worth the deep and recurring levels of stress they will give you trying to track their convoluted and nonsensical changes
Reply from Plutus.it
Hi,
Plutus provides regulated services through our licensed banking partners and has an established legal and compliance department that adheres to all necessary guidelines to protect customers. All our terms are sent out with 30 days' notice, with recent updates requiring customer action before further use. We've built a clear framework for PLU rewards designed for long-term sustainability. The terms for stacking, utilities, and payouts are outlined in our Terms & Conditions to ensure full transparency.
Our ownership structure follows standard loyalty reward program practices—PLU remains Plutus property while in your in-app rewards balance and becomes yours once transferred to your external wallet via payout fees. This setup allows us to maintain the ecosystem's integrity while giving you flexible options for your rewards.
Our communications team ensures that any changes are communicated in advance via email, in-app notifications, and our blog. All updates are intended to improve the platform experience and support a sustainable rewards system for all.
For any specific questions about your account or rewards, our support team is available to provide personalised assistance and clarification.
Plutus offers its unique reward services for a low-cost monthly plan starting at just £/€6.99. The fees for additional services help maintain a sustainable rewards ecosystem for all customers.
When considering fees for third-party payouts, remember the exceptional rewards you receive. For just £/€6.99 per month, a 33% payout fee is reasonable, as external use of rewards impacts sustainability. Even with the fee, you still get more value—for example, paying £/€6.99 plus the 33% payout fee can cover your subscription and more when PLU is used for prohibited services. We understand this, which is why a fair fee is charged to shift towards in-app use—protecting customers and creating a more sustainable rewards system for all.
For PlutusGifts, PLU was earned at a $1 rate, with brands offering 0% fees, making each PLU worth £/€10 in-app. With PlutusGifts, swapping $1 rewards for a £10 gift card costing £/€5 or more is an amazing deal. Even after fees, you still pocket £/€5 to £/€2 in savings, offering unbeatable value for rewards earned at a $1 rate.
We apply the same logic to PlutusSwap—since rewards are earned at a $1 rate, bulk swapping for £/€10 emissions rate is not possible. That’s why we have limits and fees, ensuring sustainability while offering unique features like card balance top-ups, a benefit that doesn’t exist elsewhere.
Rest assured, now that the transition is complete and we have achieved fair-balanced emissions and redemptions across all key utilities, the next step is to match these rates on PlutusSwap in Q2.
Please Note: Fees support our ability to provide better features, enhance service quality, and protect sustainability, ensuring long-term value for our customers.