USI-Tech lied about $70 million dollar BitFury contract?
Not content with spreading lies about registering their Ponzi scheme with the SEC, USI-Tech and their affiliates are spreading porky pies about a contract with BitFury.
For those unfamiliar with the company, BitFury claim to be a “full service Blockchain technology company”.
The Bitfury Group develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain.
USI-Tech marketing material promoting a $70 million dollar deal between the company and BitFury began circulating about three days ago.
Irish USI-Tech affiliate Aoibhin Sheehy, aka “KingsOfBitcoin”, wrote in a Steemit post dated October 7th;
Seems all it takes is a bit of Fun-in-the-Sun, a Postcard Destination, and liberal amounts of Alcoholic Beverages to loosen some lips and let the “cat out-of-the-bag!”
“What’s the Scoop?” you say. USI-TECH has acquired 70 Million Dollars of Mining power through the BitFury Group — one of the largest and most lucrative mining companies in operation.
This is an unprecedented acquisition, typically refused to most companies approaching BitFury, due to the significant draw on resources the purchase represents; however, for USI-TECH, the “Sky’s the Limit”, and the deal was inked, thereby adding years of longevity to the already potent powerhouse that is USI-TECH.
Similar content from other USI-Tech affiliates can be found plastered all over Facebook:
The event referenced in both posts is a recent “VIP” event held for top USI-Tech investors in Mallorca, Spain.
It was at this event that USI-Tech’s owners purportedly revealed that $70 million BitFury contract.
Naturally it didn’t take long for the news to reach the rest of the USI-Tech affiliate-base, who promptly began spreading it all over the internet.
The problem?
According to BitFury CIO Alex Petrov, there isn’t a contract.
Within 48 hours of the purported contract being mentioned here on BehindMLM, Petrov claimed no contract was signed;
USI Tech doesn’t sign any contracts with Bitfury, contact are fake. This is officially confirmed from Bitfury side.
Putting aside a BitFury contract doesn’t negate USI-Tech running a Ponzi scheme since late 2016, one can only speculate as to why USI-Tech management would create a lie that is so easily debunked.
The obvious reason was to detract attention away from the bogus SEC registration, which was also ridiculously easy to debunk (an Edgar database search takes all of two seconds).
What with BitFury quick to confirm no contract between the two companies exists, I wonder what new lie USI-Tech will come up to cover up their latest PR blunder?
When’s their next event? Stay tuned…
Update 10th October 2017 – Alex Petrov has provided video evidence of USI-Tech lying about a BitFury contract.
The footage (screenshot above) shows USI-Tech owner Horst Jicha on stage.
At [1:05] Jicha tells VIP USI-Tech affiliates in attendance;
We just signed this morning another seventy million dollars BitFury block boxes.
According to the BitFury website, their BlockBox AC
is one of the first mobile Bitcoin mining units that has the scale of a full-size data center, allowing for easy access to the Bitcoin network.
Despite being lied to (not that they’d have known it at the time), USI-Tech’s VIP affiliates applaud Jicha’s announcement.
[1:17] We are the only company that gets it hands on $70 million dollars in BitFury block boxes in this world.
And this is a long-term contract, we can renew it every six months. And that’s the reality.
Alex Petrov maintains BitFury never signed any contract with USI-Tech.
Update 18th October 2017 – Likely in an attempt to remove evidence of Horst Jicha’s lies, the video referenced in the last update has since been deleted.
Try to check edit history on their Facebook page, or here is still copy Youtube prof of fake annoncment: youtu.be/1mtyvJabE-8?t=1m05s
youtu.be/1mtyvJabE-8?t=2m7s according to said they buy 280 thousands mega-hash or 280th/s eq 1 small miner, 1.8$/day 🙂
Examples of affiliates:
facebook.com/ken.montes/posts/10103818097534288
facebook.com/franklyn.agbeko/videos/10215069799043609/
facebook.com/Charles.De.Sousa29/posts/261758044345207
facebook.com/groups/1623693621213619/permalink/1904682883114690/ 🙂
Thanks for the updates Alex!
Wow, the CIO of Bitfury is here with us confirming that USI-Tech lied about this shit! It is time for the authorities to slam this scam shut!
I bet it was just an agreement at first, rather than a signed contract. In the video he says it was “signed” in the morning, so probably got excited and “misspoke.”
Bitfury probably doesn’t want the world to know as it woould have annoyed the companies that got declined.
Also usi-tech never claimed they registered with sec, just that a u.s legal firm confirmed they are sec compliant. It was only over-hyped affilliates that claimed this.
have they sent an invite to the london police or should we?
usi tech claims to have 300,000 investors already. alexa rankings show steep growth of their pyramid:
alexa.com/siteinfo/usi-tech.info
at this rate the number of victims will grow larger by the day.
as alex petrov has video proof of usi tech COO horst jicha lying about a contract with bitfury, i think bitfury should expose them via a press release.
here is another example of how the bitfury ‘contract’ is being peddled on facebook to ensnare more victims:
bitfury should expose this lie on their own website and via a press release.
as if selling crypto investments without SEC registration was not enough, usi tech is now also planning to introduce something called a ‘crypto bond’.
move over all you old fashioned crypto scammers with your IPO’s and ICO’s and make way for a new ‘buzz’ product- the crytpo bond!:
crypto ‘bond’ definitely sounds like an investment product, so i hope usi tech is getting SEC registration before selling this stuff.
i mean, just sounding ‘cool’ wont keep them out of jail!
Alex, would it be possible if some other (third party) aproached USI in attempt to sell them BitFurry boxes worth of $70m which they intend to buy from you ?
@SRL
Yeah, I’m sure it’s that and not the fact USI-Tech is a Ponzi scam.
Rightio…
So the Bitfury CIO has come onto a public blog to lie to everyone about one of its customer relationships, and falsely accuse one of its clients of dishonesty – a 70 million dollar client. In order to not hurt the feelings of companies who aren’t its customers, and whom it has no reason to care about whatsoever.
*slow handclap*
I’m quite intrigued by all this. I wouldn’t invest a cent of my own money in it as 1% ROI daily is too hard for me to believe it’s legit.
BUT, i have to ask, why would the owners put themselves out there like this if it is a scam? Hosting people from all over the world, lying to their faces, hugging them, sharing laughs…I mean if it is a scam they’d have to be some of the biggest psychopaths the world has to offer.
Also wouldn’t they be arrested when it does go belly up for fraud?
I just can’t understand if it is a scam why are they making themselves so public??
Bitfury only sells ASIC equipment. USI contracted to buy GPU equipment to mine coins like ETH, ETC, Monero, Zcash etc
Horst was confused on who manufactures the equipment that they contracted to purchase. The USI sales reps have violated their NDA by posting that video.
There will be an official announcement at the USI London event.
@Bob
Same reason people invest, greed.
Europe doesn’t have the best track record for arresting Ponzi scammers, unless it’s well after the fact.
I gather they’re counting on the SEC turning a blind eye because the owners aren’t US residents. They could nab them if they continue to hold events in the US but you’ll probably find management start avoiding the US soon.
Why? He was quite specific in mentioning BitFury and boasting about exclusivity. Didn’t sound like he didn’t know what he was talking about to me.
Horst lied and got caught out. Here comes the excuse train…
o bwahaha
here come the dumbasses with all of their half dozen neurons trying to create alternative facts.
fail! try again, its fun!
Man I did some digging around, the people in this scam are showing similar traits to those in a religious cult!
Human beings never cease to amaze me. They are all trying to recruit heavily on their facebook pages and are all acting like successful entrepreneurs, it’s rather embarrassing the whole thing.
I do feel sorry for them though, but I guess the world has still not learnt there is no such thing as easy money! Unless you’re born into royalty.
Nah, to be in with a shout of “the biggest psychopath” you have to kill a few million people or so. They aren’t psychopaths, they’re just common-or-garden liars. It’s not difficult. Why glamorise it?
Guys do you really think that USI is that stupid, Mr. Horst works very hard to provide a long term business for eveyrbody. I saw the contract it is a 70 Mil Mining contract, if it is with Bifury or like Bitfury I dont know.
DO you realy think they would communicate something BIG like this in front of Mike Kiefer and the Leaders if they can not deliver?
London will be the day for 100% transparancy let us wait and see…….I know you guys will pick on something else after the Event because you see it is the real deal.
WHY NOT WAIT and THEN you come up with all negative input about everything they do.
Remember first you told everybody USI is a scam because of the Trading Software NO Single account lost money. It runs on people own Broker account dont forget about his important detail.
Thanks for reading this
always happy to help
Yup.
steal as much money as he can from gullible idiots such as yourself. That’s how a Ponzi scheme works.
Yeah no worries champ. You saw a contract that doesn’t exist and can’t even name who was on the contract.
You’re just as full of shit as Horst is.
The only way a Ponzi scheme can become transparent is to acknowledge it’s a Ponzi scheme. That’s obviously not happening in London so it’s just going to be more white noise.
No third-party auditing confirming ROI revenue is generated through trading. That’s a given seeing as they’ve had a year to provide it to affiliates.
Because USI-Tech’s business model is not a mystery.
Newly invested funds go in, existing affiliates are paid a ROI and everyone runs around pretending it’s not a Ponzi scheme. Wink, wink.
Nice strawman. The original business model was a pyramid scheme. It’s only recently with the bitcoin packages that USI-Tech has expanded into Ponzi fraud.
Why do you think all the usual suspects that inhabit the bottom of the MLM underbelly have signed up over the past few months. It’s a Ponzi feeding frenzy all round.
Always astonished by the amount of gullible idiotic half wits that comment and try to stick up for these criminals and it’s always the same story line. Wait till this event for full transparency or why would they be in the public domain if it’s a scam.
Idiots, get it through your thick skulls these people don’t give a flying f@ck about you or where they apply their trade all they want us your money then they’ll be onboard the next scam.
Grow up and get a real job, stop chasing numbers on a screen that don’t exist.
If he really is, he doesn’t need to occupy a hotel meeting room stage to announce some bogus contract.
Your comment doesn’t make sense within the context of the facts available. One must conclude you’re living in your own reality where “there must be a reasonable explanation for ponzi behavior” other than the obvious: it’s a PONZI SCHEME out to scam you.
Yes you are right, but when these people make more in a month than most people in year, you can see why. Morals or sanctimonious attitudes don’t come into it. Lots of people have skelitains in a cupboards these just choice to flaunt “I’m a scammer and making more than you”.
Please see the CIO’s tweet: twitter.com/sysmannet/status/918170263291822081
Alex Petrov or someone pretending to be? For someone who is supposed to be “smart” and a CIO* (not CEO) of a multi million dollar company, he sure looks like an absolute dummy in these tweets. He can’t spell and his grammar is appalling.
What’s really weird and stands out to me; if this news was all lies and a scam then why isn’t the real media or news onto it? Why hasn’t Bitfury’s CEOs made a public announcement either? Notice how the very few “debunking” articles all refer back to this blog and those couple of tweets?
*”Chief information officer (CIO) is an executive job title commonly given to the person at an enterprise in charge of information technology (IT) strategy and the computer systems required to support an enterprise’s objectives and goals”.
Hardly the go to person for information on financial/business decisions the CEOs make. A CIO of a company has an IT support only role and I would imagine is not qualified to make public comments on behalf of a company.
There is nothing on Bitfury’s official twitter page about fake contracts and no mention of Alex Petrov either. Nothing suss hey. Alex is not the Chief Communications Officer, you know, the actual person who has the authority to speak out on behalf of the company when it comes to public affairs announcements or other matters. I guess time will tell.
@Dino
Petrov’s social media profiles check out. He was CIO of BitFury long before USI-Tech management made up a fake contract.
Instead of going after the messenger and building strawman rebuttals, why not focus on the fact you were lied to? Oh right…
I mean what, you think if Horst Jicha actually had a contract he wouldn’t have shown it by now? It’s the same story as their trading.
There is no contract, USI-Tech management are nothing more than Ponzi scamming liars.
he’s just dino-sore his scam is exposed.
here is a mention of alex petrov on bitfury’s official facebook page which is linked to their website:
here is a mention of alex petrov [with his photo], CIO of bitfury being invited to a [segwit] blockchain conference as recently as may 2017:
spb.blockchainconf.world/en/article/segwit-i-hardfork-posledstviya-i-prognozi-ot-aleksa-petrova-bitfury-69285 © St. Petersburg Blockchain Conference
as for bitfury not commenting on the ‘fake contract’, crypto ponzi/pyramid schemes are a dime a dozen these days, and serious companies may hardly be interested in commenting on lies trotted out by two bit scammers in some hotel in mallorca.
if dino-sore is convinced bitfury is lying and horst jicha is a shining example of honesty and integrity, all he has to do is ask jicha to share the ‘contract’ with his affiliates.
but that wont happen, and dino-sore will also be butt-sore.
usi tech has a tie up with two brokers: argus FX and pure markets.
1] argus fx: is registered in cyprus and though it seems it can do business in the UK and europe , it Cannot do business in the USA. the argus website has a list of countries it provides services to, and the USA is NOT on the list.
2] pure markets broker:
affiliates of USI tech have to link their accounts only to these two brokers as usi tech has a contract with them. usi tech is directly and fraudulently referring its US affiliates to brokers who are not registered to do business in the USA.
22.4% traffic to usi tech comes from the USA [alexa] so are how are US affiliates doing any trading? illegal eagles??
Argus FX website domain details were last updated on July 12th, 2017.
Pure Markets website domain was created on October 3rd, 2016.
USI-Tech website domain was registered on June 23rd, 2016.
Both companies are run by persons unknown (shill names provided). What’s the bet neither had any activity prior to USI-Tech?
*winkwink nudgenudge*
If USI had to invoke “tie-up” with brokers, rather than provide trading records, it’s pretty obvious which way this is going.
At the middle and end of TVI Express, they were claiming tie-ups with so many vendors they’re getting shut down left and right because both the critics and their members are trying to confirm the “tie-ups”, which quickly proved that so-called tie-ups don’t exist.
hmm and its a strange ‘tie up’ too, where these two brokers argus and pure markets have agreed to give back a large portion of their brokerage ‘fees’ to the USI matrix 12 levels deep!
listen in at the 0:30 mark:
youtube.com/watch?v=MhxTDb_GN9g
2017-10-17 USI-TECH Press Release [edited for brevity]:
COO horst jicha ‘lied’ about bitfury and is covering his ass^^ because he don’t want no legal notice from bitfury!
secret mining contracts worth 70 million, NDA’s with ‘strategic partners’, proprietary algorithms, USI ‘branded’ ethereum blockchain…..
^^ the favorite fake techie buzz word soup to cover the ponzi!
show the contract or shut up horst. nobody will eat your swill except your top ponzi pigs.
It makes zero sense to enter into a secret $70 million NDA partnership. This is not how legitimate business is conducted.
Ponzi schemes trying to reassure investors they aren’t just recycling funds however…
top usi tech ponzi promoter David Agrinsonis, who was at the mallorca meet where the bitfury ‘lie’ was announced, has posted a video a few hours ago saying there was a ‘technical’ reason why bitfury was ‘inaccurately’ mentioned and that reason would become clear in time.
Yes, yes, David Agrinsonis, ponzi schemes habitually and perpetually ask for Time for this or that, but they’re long gone before the said Time arrives!
the real info in the video is David Agrinsonis’ admission at the 2:50 mark that bitfury asked USI tech to issue a clarification that there wasn’t any contract!
youtube.com/watch?v=1PP-egtvQrg
i hope bitfury will issue a press statement from its side too.
such a statement will be picked up by cryptocurrency news publishers and help spread the word about the USI tech scam.
anjali. Guys like you really need to take a step back or you just look moronic. Attack, Attack, Attack is not the way.
Having said that, this statement released makes me laugh.
What will be the excuse given on the 28th?
Sheep remain sheep till they are told otherwise!
Looks like they are doing their own ICO now. The affiliates can purchase “tokens”.
Another one? *groan*
One can only wonder how many billions will be lost by the time regulators catch up with the Ponzi ICO model.
I think we will see a flood of so called ICO’s, with no let up until late 2018.
Some people dont care, some dont GAF, some are just missing brain cells, some are guliable, some are desperate and some know exactly what is going on and just will get what they can get while they can get it.
the most disappointing thing it the sheer lack of creativity.
C
When in Doubt… do a ICO…
Need cash….Do and ICO…
Alexa Rank starting to drop….Do and ICO
Not enough new cash coming in to pay off older investments…Do and ICO..
That is the game going now..
Someone has posted a comment using my name in an attempt to discredit me. I know who it is and he has told me he would be doing this, so I have to put the record straight here.
I have never said and will never say that ANY online business opportunity will be around forever.
ANY business opportunity that I join, I do so with full knowledge that they could be gone next week and when the people who follow me online join the same companies, I tell them the same thing.
Shaun Smith (convicted scammer) you post under my name in order to cause me problems. This is simply going in the file for harassment and will be passed to the Police to follow up.
I ask the admin of this site to please remove the comments on this thread that have been posted in my name.
^^ Done.
Thank you Oz I appreciate it, I hope that this person will stop this defamatory behavior.
I have sent a message also to your contact page, please disregard that message as you have already removed the comments.
That’s only one of the lies that got exposed. Here’s some more BS that’s going around. People are going to jail over this one and some of the big earners are going to have to pay back all they earned, just like with zeek rewards.
See links below.
gyazo.com/5f90bdba3a42c0554d6e6fdff6d8e3a2
gyazo.com/8a3393209c9cefd5c1c2bc3d262a7fbb
OMG and they have a special machine to make free energy?? Are they serious???
@Dickie d
yep you heard right, they have a magic self generating magnetic power generator hahaha. i seriously cant believe people buy this crap.
I’ve now acquired a unicorn that shits bitcoin. I’ll lend it to usi-tech free of charge.
So many wise guys in here. You don’t even have the facts right, when it comes to accusing USI-Tech, of being a scam.
Can only say, look at blockchain.info/de/pools mid-December and you will Find USI-Tech there as well. Imagine so much energy being spent on accusing on fals basis! Funny!
(Ozedit: Abuse and offtopic derail attempts removed)
What does that have to do with USI-Tech affiliate ROI revenue or lying about a BitFury contract?
First, of, we don’t get ROI but ROC.
The $70 million is for hardware, without it we won’t appear in the mining pools.
They have paid out between 0.75 and 1.25% every working day, without exceptions for more than a year.
Furthermore, I don’t think, that a person like Evan Ahern (google him) would have anything to do with a scam.
I was in London, I saw his presentation and talked with him as well.
And after a short look at Jesper’s personal website, I can say that I will not be believing a word out of his mouth regarding technology or marketing.
Not until he’s shown that he has more common sense than a 1st grade child.
There are no facts from USI, so that statement is “technically” correct.
You invest money into USI-Tech and get paid a ROI. Leave the pseudo-compliance BS on Facebook.
Appearing in mining pools has nothing to do with affiliate ROI revenue. The fact of the matter is new affiliate investment is still the only verifiable source of revenue entering USI-Tech.
No they haven’t. USI-Tech’s bitcoin Ponzi only launched a few months ago.
Prior to that it was just a pyramid scheme with an unregistered securities offering.
Legitimacy by association doesn’t work. A Ponzi scheme is a Ponzi scheme because newly invested funds are used to pay off existing investors.
Who does or doesn’t “have anything to do with it” is irrelevant.
We don’t invest, we buy a product, that runs for 140 days.
This will be my last comment in this thread. I am already sorry, that I wasted time, to read through some of these comments.
Looking forward to seeing, what you guys have to say mid-December.
Buying a product doesn’t pay a ROI, an investment does.
Knee-deep in pseudo-compliance bullshit, this one.
The same as is said now. USI-Tech is a Ponzi scheme and you a Ponzi scammer.
Ok Jesper, continue on with your scamming ways! I hope the gov’t goes after you!
What a load of horse shit.
I dont usually bite at blogs but i was at both events london and spain. They did not make any reference to bitfury it was a rep.
We were told instantly to get it down it wasnt true followed by a statemnet from usi stating this.
Nothing but a twist on events. Worse than the sun newspaper full of shit.
Horst Jicha was recorded on video telling USI-Tech affiliates about a BitFury contract at the event.
There’s nothing to twist or be full of shit about. It is what it is.
USI-Tech management lied and were caught out. Rushing to delete evidence doesn’t change what happened.
So Oz, have you actually seen and heard that video, or is it just hearsay?
Of course I watched the video, I even published screenshots of it.
If you can’t find it, ask USI-Tech management why they hastily had it deleted it after this article was published.
so USI got slammed by Bitfury, then slam-dunked by Genesis openly, so plan B to white-label some small Ether pool and reinvent themselves as Ether miners who were mining eth to fund the Bitcoin packs. GTFO.
Ponzi-pimps now using etherchain links to prove USI as real deal. The pools above and below USI tech are also for sale btw.
A million $$$ to rename a pool is not a bad deal. It means nothing when paying for a white label. How stupid do people have to be to be earning income from packs denominated in Bitcoin and yet all this time the so-called mining was Ether based?
Since Genesis made it clear that USI are a fraud, renaming a morally weak Chinese pool is the obvious plan B. Ponzi remains a ponzi.
Ether mining is nowhere near as profitable as bitcoin mining and still no proof of actual trading income. no also arbitrage trade.
(Ozedit: Offtopic derail attempts removed)
I understand from this thread that there is not any “verifiable” income besides the package purchases. Is that verifiable?
Can we get some unbiased discussion so people can make an informed decision? Can we see if anyone has any anecdotal evidence of being swindled by USI-tech or not receiving what was promised?
@Bob
Sure is, you can verify it yourself by asking USI-Tech for evidence of external revenue being used to pay affiliate ROIs.
USI-Tech “promise” affiliates stolen funds from affiliate investors who join after them. Evaluating what is promised in by a Ponzi scheme serves is pointless beyond deciding whether you wish to become a Ponzi scammer yourself.
Instead of all those speculations going on in this thread, here what was taking place on Mallorca. Hear it directly from the SEO himself.
I even “bookmarked” the video, where he talks about exactly, what have wasted so many peoples time, in this thread.
Of course, I invite you all, to watch the whole video, so you get the right information.
(Ozedit: Video link removed, see here: https://behindmlm.com/mlm/regulation/usi-tech-investor-warning-issued-in-bc-canada/#comment-391732 )
Is that the same video Anjali already broke down? Looks like it.
Jicha didn’t reveal audited accounting, just more “coming soon” promises. Stop wasting people’s time with your Ponzi marketing garbage.