Cryptexify gives no info on its web site about who owns or runs the corporate.
Cryptexify’s web site area (“cryptexify.com”), was first registered in Could 2021. The non-public registration was final up to date on June twenty first, 2022.
In an try to seem professional, Cryptexify gives company addresses in Canada, the UK, New Zealand, the US and Zimbabwe.
With the addition of Nigeria, primary incorporation certificates for numerous shell firms are additionally supplied.
For the aim of MLM due-diligence, these addresses and incorporations are meaningless.
Cryptexify’s official FaceBook web page was created in September 2021. Versus any of the nations above, Cryptexify’s FaceBook web page is managed from India.
Cryptexify uploaded its first 5 video to its YouTube channel in August 2021. These have been your typical inventory footage advertising and marketing hype, all coming in at 15 to 30 seconds.
On March twenty sixth 2022, Cryptexify determined to go the Boris CEO route:
Nicely, not a lot a Boris CEO as Boris “Tour Information”. “Sandra Davis” takes us on a tour of the standard rented workplace setup.
There we meet Cryptexify’s precise Boris CEO, “Zane Hayden”:
I don’t have a reputation purchase Hayden is an actor based mostly out of Japanese Europe. He not too long ago appeared in a advertising and marketing video for Jaoken, an organization based mostly out of Georgia.
Georgia neighbours Russia, the place virtually all Boris CEO movies are produced from.
Who owns Cryptexify comes down to 2 potential situations:
- Russian scammers run Cryptexify with social media outsourced to India; or
- Indian scammers run Cryptexify and employed Russians to make the Boris CEO video.
As at all times, if an MLM firm will not be brazenly upfront about who’s working or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
Cryptexify has no retailable services or products.
Associates are solely capable of market Cryptexify affiliate membership itself.
Cryptexify’s Compensation Plan
Cryptexify associates make investments cryptocurrency on the promise of marketed Monday to Friday returns:
- Bronze – make investments $30 to $25,000 and obtain 2% a day for 100 days
- Silver – make investments $25,500 to $60,000 and obtain 3% a day for 100 days
- Gold – make investments $60,500 to $150,000 and obtain 4% a day for 100 days
Be aware that Cryptexify expenses a ten% payment on all withdrawals.
The MLM aspect of Cryptexify pays on recruitment of affiliate traders.
Cryptexify associates earn a share of cryptocurrency invested by personally recruited associates.
Referral fee charges are decided by how a lot a Cryptexify affiliate has invested:
- Bronze tier associates earn a 7% referral fee fee
- Silver tier associates earn an 8% referral fee fee
- Gold tier associates earn a ten% referral fee fee
Cryptexify pays residual commissions through a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary staff, cut up into two sides (left and proper):
The primary degree of the binary staff homes two positions. The second degree of the binary staff is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary staff are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary staff are crammed through direct and oblique recruitment of associates. Be aware there is no such thing as a restrict to how deep a binary staff can develop.
On the finish of every day Cryptexify tallies up new funding quantity on each side of the binary staff.
Residual commissions are paid as 10% of cryptocurrency invested on the weaker binary staff aspect.
- Bronze tier associates are capped at $3000 in residual commissions a day
- Silver tier associates are capped at $6500 in residual fee a day
- Gold tier associates are capped at $15,000 in residual commissions a day
After residual commissions are paid, weaker aspect quantity is matched towards the stronger binary staff aspect and flushed.
Any leftover quantity on the stronger binary staff aspect carries over.
Becoming a member of Cryptexify
Cryptexify affiliate membership is free.
Full participation within the hooked up revenue alternative requires a minimal $30 funding.
Cryptexify solicits funding in numerous cryptocurrencies
Cryptexify claims it generates exterior income through “cryptocurrency and foreign currency trading”.
These cliches are the defacto ruse for MLM Ponzi schemes.
Cryptexify fails to supply proof of buying and selling, or another exterior income technology getting used to pay withdrawals.
Because it stands, the one verifiable income coming into Cryptexify is new funding.
Utilizing new funding to pay associates a Monday to Friday ROI makes Cryptexify a Ponzi scheme. This tracks with Cryptexify’s nameless possession and Boris CEO setup.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This may starve Cryptexify of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, the vast majority of members lose cash.