Aladino Review: Another Steinkeller bros MLM crypto Ponzi
Aladino fails to provide ownership or executive information on its website.
In fact as I write this, Aladino’s website appears disabled until September 15th:
Further research reveals Christian Steinkeller on a September 9th Aladino webinar.
On the webinar, Steinkeller introduces Michele Domizi as Aladino’s CEO.
As per Domizi’s LinkedIn profile, he’s the CEO of Making Duplication Technologies.
Making Duplication Technologies is behind Duplii, a failed MLM marketing platform.
Domizi’s LinkedIn profile places him in Dublin Ireland.
Whether that’s still accurate though is unclear.
Other than Duplii, which isn’t an MLM opportunity itself, Domizi doesn’t have a publicly verifiable MLM history. This is a red flag.
Christian Steinkeller meanwhile is a notorious Ponzi promoter and admin.
Following OneCoin’s collapse in 2017, the Steinkeller brothers fled to Dubai.
Both the Steinkeller brothers and Michele Domizi are originally from Italy.
As of October 2022 the Steinkeller’s criminal case, which pertains to OneCoin fraud charges, is ongoing.
Earlier this year we learned the Steinkeller brothers engaged PR firm Eliminalia to hide their fraudulent conduct.
While I can’t say for sure, it’s highly likely the Steinkeller brothers have a hand in the setting up and operation of Aladino.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Aladino has no retailable products or services.
Affiliates are only able to market Aladino affiliate membership itself.
Aladino’s Compensation Plan
Aladino affiliates invest tether (USDT), into an eight-tier NFT position investment scheme:
This is done on the promise of shares in a crypto mining pool:
- invest 25 USDT and receive 20% of an allocated share
- invest 250 USDT and receive 25% of an allocated share
- invest 1000 USDT and receive 40% of an allocated share
- invest 2500 USDT and receive 45% of an allocated share
- invest 5000 USDT and receive 60% of an allocated share
- invest 10,000 USDT and receive 70% of an allocated share
- invest 25,000 USDT and receive 75% of an allocated share
- invest 50,000 USDT and receive 80% of an allocated share
In its marketing material, Aladino cites a 300% annual ROI per allocated share. Returns are purportedly paid out for five years, after which reinvestment is required.
Note that although returns are calculated annually, Aladino pays “multiple time(s) daily” in bitcoin (BTC).
The MLM side of Aladino pays on recruitment of affiliate investors.
Aladino Affiliate Ranks
There are eight affiliate ranks within Aladino’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Rank 1 – sign up as an Aladino affiliate and invest at least 25 USDT
- Rank 2 – invest at least 250 USDT and generate 2500 USDT in downline investment volume
- Rank 3 – invest at least 1000 USDT and generate 10,000 USDT in downline investment volume
- Rank 4 – invest at least 2500 USDT and generate 50,000 USDT in downline investment volume
- Rank 5 – invest at least 5000 USDT and generate 200,000 USDT in downline investment volume
- Rank 6 – invest at least 10,000 USDT and generate 1,000,000 USDT in downline investment volume
- Rank 7 – invest at least 25,000 USDT and generate 2,500,000 USDT in downline investment volume
- Rank 8 – invest at least 50,000 USDT and generate 10,000,000 USDT in downline investment volume
Note that from Rank 2, no more than 60% of required downline investment volume can be counted from any one recruitment leg.
Aladino pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Aladino caps payable unilevel team levels at sixteen.
Referral commissions are paid as a percentage of USDT invested across these sixteen levels based on rank:
- Rank 1 affiliates earn 10% on level 1 and 5% on level 2
- Rank 2 affiliates earn 10% on level 1, 5% on level 2, 4% on level 3 and 3% on level 4
- Rank 3 affiliates earn 10% on level 1, 5% on level 2, 4% on level 3, 3% on level 4 and 2% on levels 5 and 6
- Rank 4 affiliates earn 10% on level 1, 5% on level 2, 4% on level 3, 3% on level 4 and 2% on levels 5 to 8
- Rank 5 affiliates earn 10% on level 1, 5% on level 2, 4% on level 3, 3% on level 4, 2% on levels 5 to 9 and 1% on level 10
- Rank 6 to 8 affiliates earn 10% on level 1, 5% on level 2, 4% on level 3, 3% on level 4, 2% on levels 5 to 9 and 1% on levels 10 to 16
Rank 5 and higher Aladino affiliates qualify for the Infinity Bonus.
The Infinity Bonus pays a bonus percentage on USDT investment volume from level 17 of the unilevel team.
- Rank 5 affiliates receive a 1% Infinity Bonus
- Rank 6 affiliates receive a 2% Infinity Bonus
- Rank 7 affiliates receive a 5% Infinity Bonus
- Rank 8 affiliates receive a 10% Infinity Bonus
Rank Achievement Bonus
Aladino rewards affiliates for qualifying at Rank 2 and higher with the following one-time Rank Achievement Bonuses:
- qualify at Rank 2 and receive 100 USDT
- qualify at Rank 3 and receive 400 USDT
- qualify at Rank 4 and receive 2000 USDT
- qualify at Rank 5 and receive 8000 USDT
- qualify at Rank 6 and receive 40,000 USDT
- qualify at Rank 7 and receive 100,000 USDT
- qualify at Rank 8 and receive 400,000 USDT
Aladino affiliate membership is free.
Full participation in the attached income opportunity requires a minimum 25 USDT investment.
Aladino represents it generates external revenue via cryptocurrency mining.
No evidence of Aladino generating revenue by mining, or any other source of external revenue, is provided.
Furthermore, as per the screenshot of Aladino’s website in the introduction of this review, the company claims to already have “$100 millions” in its mining pool.
If that’s the case, what do they need your money for?
On the regulatory front Aladino’s passive returns investment scheme constitutes a securities offering.
Aladino fails to provide evidence it has registered itself with financial regulators in any jurisdiction.
This means that, at a minimum, Aladino and its promoters are committing securities fraud.
This doesn’t come as a surprise considering the Steinkeller brothers’ past.
As it stands, the only verifiable source of revenue entering Aladino is new investment.
Using new investment to pay affiliate withdrawals would make Aladino a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Aladino of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.