Is Qlof Fund a Fraud crypto Trading Platform?

 Now a days, a

company named Qlof Fund is running its crypto currency trading business. I came to know about this company from my friend who is currently using its trading platform. He is earning regularly without any fear of losing money. Assured income through trading. No fear of things gone wrong. He joined the company depositing only 3000 rupees. Now he earns more than 300 rupees daily. All he needs to do is to buy 'Call' or 'Put' every evening around 8 PM. He can use only 20 percent of the amount he deposited in his Qlof account for trading and the rest remains in his account. He also earns referral income every time someone joins using his referral link. He says that when he will manage 30 person to join using his link, the Qlof Fund will give him daily salary of 1000 rupees.

Is not this mind blowing!

To join as a user of  Qlof Fund, no document is needed. No PAN card. No photo verification. Account is opened only by mobile OTP verification. You have to provide a mobile number and an email address. They will not also verify your email ID. After your account is opened, you need to add your bank account with your Qlof user ID.

Crypto currency trading is not regulated in India.  But the questing is how any company can claim to provide regular income through trading. We know that derivative trading is a zero sum game. If you earn a certain amount of money, someone has to lose the same amount. It is quite evident that Qlof is providing trading advisory as they are giving Call and Put options to its customers to buy or sell. How can they earn everytime? Who are the people generous enough to lose money so that Qlof can generate regular income for its customers.

Something is definitely wrong with Qlof Fund.

I searched for the Terms and Conditions of Qlof but have not found it anywhere.

Their app is not available in Google Playstore.

The had company started only 3 months ago.

And the most important question is why Qlof does not allow its user to trade with the whole amount deposited by its customers. What do they do with the remaining amount. Why is PAN Card not required when there is prospect of earning huge amount by its customers.

Something is wrong?

Or nothing is right?