BitClub Network @ BehindMLM

Crypto Societi at present doesn’t have a website. Anything online to do with the company was recently pulled offline. At the time of publication Crypto Societi’s website domain is parked, but that doesn’t mean there’s no information out there. What I wasn’t able to establish is who’s behind Crypto Societi. I’ve received intel that BitClub [Continue reading…]

The DOJ has gone after five individuals connected to BitClub Network. Matthew Brent Goettsche, 37, of Lafayette, Colorado, and Jobadiah Sinclair Weeks, 38, of Arvada, Colorado, are charged by indictment with conspiracy to commit wire fraud and Goettsche, Weeks, and Joseph Frank Abel, 49, of Camarillo, California, are charged by indictment with conspiracy to offer [Continue reading…]

Following the collapse of their mining Ponzi scheme late last year, BitClub Network is now asking gullible investors to pay them for access to a trading bot.

BitClub Network is the latest cryptocurrency MLM to announce it is suspending its daily ROI payouts.

A BitClub Network investor warning has been issued by the North Carolina Securities Division.

In what appears to be the latest effort to keep the BitClub Network Ponzi scheme chugging along, the company recently announced it would no longer be accepting or paying commissions in bitcoin.

BitClub Network’s original premise saw affiliates invest on the promise of a 1000 day ROI. When the anonymous owners of the scheme realized they were going to run out of newly invested funds long before 1000 days was up, they changed the ROI maturity period to 600 days. The idea was that affiliates who initially [Continue reading…]

One of the tell-tale signs that a share-based MLM opportunity operating in the US is a Ponzi scheme, is failure to register with the SEC. All it takes is the filing of a few documents and annual reports, and the regulator has all the information to ascertain whether or not an otherwise questionable opportunity is [Continue reading…]

What would you do if you were running an MLM opportunity and discovered one of your affiliates had made off with over five thousand dollars? If you’re BitClub Network, you set up a page on your website publicly shaming them and offer a “potential bounty” for any help given.

Putting aside the fact that BitClub Network simply take newly invested funds and use it to pay off existing investors, the ruse behind the scheme is that BitCoin mining will somehow consistently deliver >100% ROIs every 1000 days. That’s irrespective of how much is invested and irrespective of fluctuations in the value of BitCoin, otherwise [Continue reading…]