All In Blockchain Review: Forex trading Ponzi scheme
All In Blockchain’s website provides no information about who owns or runs the company.
In fact as I type this, All In Blockchain’s website is nothing more an affiliate sign-in/registration form.
All In Blockchain’s website domain (“allinblockchain.net”) was privately registered on March 2nd, 2020.
Further research reveals the first video uploaded to All In Blockchain’s official YouTube channel is in Turkish.
The video description of the March 28th video reads as follows (auto-translated from Turkish):
It is an independent partnership initiative that provides worldwide education and training services in the field of finance, founded by All In Blockchain company Mr. Muhammed COŞAN.
“Muhammed COŞAN” lead me to the “Bitcoin Scams Thieves of Turkey” Facebook page, which claims “muhammet cosan”
is a long-known since 2016 and already announced since 2016!
Nowadays, he says the new lie is professional in England and has developed this fund for the benefit of the Turkish people.
Due to language-barriers I was unable to put together an MLM history on Cosan.
At the time of publication Alexa estimates that 91% of traffic to All In Blockchain’s website originates out of Turkey.
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.
All In Blockchain’s Products
All In Blockchain has no retailable products or services, with affiliates only able to market All In Blockchain affiliate membership itself.
All In Blockchain’s Compensation Plan
All In Blockchain affiliates invest $30 or more on the promise of 10% to 30% monthly returns.
- invest $30 to $999 and receive 10% a month
- invest $1000 to $4999 and receive 12.5% a month
- invest $5000 to $9999 and receive 15% a month
- invest $10,000 to $24,999 and receive 20% a month
- invest $25,000 to $50,000 and receive 30% a month
Returns are paid for 12 months, after which the principal invested amount is also available for withdrawal.
All In Blockchain pays a 10% commission on funds invested by personally recruited affiliates.
All In Blockchain pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each week All In Blockchain tallies up new investment volume on both sides of the binary team.
Affiliates are paid 10% of funds generated on their weaker binary team side.
Once paid out on, investment volume is matched with the stronger binary team side and flushed.
Any leftover volume on the stronger binary team side carries over.
Joining All In Blockchain
All In Blockchain affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum $30 investment.
Despite the company’s name, All In Blockchain doesn’t appear to have anything to do with blockchains.
Here’s a taste of what All In Blockchain’s affiliates are running around promoting:
For starters, All In Blockchain didn’t exist until March 2020. There was no company prior to that date.
With respect to company registration, all of that is meaningless in light of All In Blockchain not having registered its securities offering with financial regulators.
Ditto the nonsense about having a forex license.
As for claims about having traders, the onus is on All In Blockchain to provide audited accounting reports to the public and financial regulators.
Marketing slides are not a substitute for these legal requirements.
All In One Blockchain exists wherever Muhammet Cosan is based out of. Turkey is the obvious candidate with Bitcoin Scams Thieves of Turkey’s England claim also noted.
At best All In Blockchain is committing securities fraud and operating illegally. At worst the company is committing securities fraud and operating a Ponzi scheme.
Supporting this is All In Blockchain advertising monthly returns of 30%.
If we pretend the “we’ve been around for five years” claim isn’t bullshit, surely 30% compounded for five years means Muhammet Cosan is one of the richest people on the planet?
Yet here he is with All In Blockchain, promising riches to anyone with $30.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve All In Blockchain of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
“BUT MUH BLOCKCHAIN!” is baked right in the company name!