Banqiro Review: Alex Reinhardt’s side hustle crypto Ponzi
Banqiro fails to provide ownership or executive information on its website.
Banqiro’s website domain (“banqiro.io”), was privately registered on May 9th, 2023.
Formation of Banqiro began with Alex Reinhardt registering trademarks in the EU in January and February 2023.
Next came Banqiro GMBH, a German shell company Reinhardt registered in March 2023. Fronting Banqiro GMBH is Jurgen Dieter Mischke.
Banqiro GMBH feeds into ALMA GmbH, another German shell company registered to Alex and his sister Maria Reinhardt.
Alex Reinhardt began MLM crypto Ponzi scamming as an investor in SwissCoin (circa 2015-2016).
When that collapsed he got into running Ponzi scams himself, first with PlatinCoin in 2017.
PlatinCoin collapsed in late 2019. Reinhardt eventually rebooted as PlatinWorld in mid 2021.
PlatinWorld saw platincoin abandoned in favor of PlatinCoin Ultima (PLCU).
The PLCU iteration of Reinhardt’s Ponzi scheme collapsed in late 2022. This prompted a reboot of the PLCU iteration in January 2023.
As PLCU began to immediately collapse, PLCUC was launched to keep the scam going.
PLCUC collapsed within a few months. This marked the end of Reinhardt’s MLM crypto Ponzi scamming, until he resurfaced with Ultima a few months ago.
Ultima is the fifth reboot of the Ponzi scheme Reinhardt started with PlatinCoin. And alongside Ultima, we also have Banqiro.
Reinhardt registered Banqiro’s official Twitter profile as “BNQTech” in August 2023. In September, Reinhardt created Banqiro’s official Telegram and YouTube channels.
Currently Banqiro is primarily being pitched to German-speakers as a presale of BNQ token. Banqiro’s website suggests BNQ’s presale is scheduled for April 2024.
That said, early investors (Reinhardt’s inner-circle of scammers), are already able to promote Banqiro and BNQ through a “seed sale”.
In addition to Alex Reinhardt, specific names we can also attach to Banqiro include Shahab Ganji:
And Roshan Indran:
Shahab Ganji is a German serial promoter of MLM crypto Ponzi schemes:
While Ganji and Indran appear to be based out of Germany, Alex Reinhardt, also believed to be a German national, fled to Dubai in 2021.
Read on for a full review of Banqiro’s MLM opportunity.
Banqiro has no retailable products or services.
Affiliates are only able to market Banqiro affiliate membership itself.
Banqiro’s Compensation Plan
Banqiro affiliates invest tether (USDT) into BNQ token. This is done on the promise of an annual 10% passive return.
The MLM side of Banqiro pays on recruitment of affiliate investors.
Banqiro 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.
Banqiro caps payable unilevel team levels at ten.
Referral commissions are paid as a percentage of USDT invested across these ten levels as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 4%
- level 3 – 3%
- levels 4 and 5 – 2%
- levels 6 to 8 – 1%
- levels 9 and 10 – 0.5%
Banqiro takes 5% of company-wide investment and places it into five smaller bonus pools.
Along with their respective qualification criteria, they are as follows:
- Pool 1 (generate 100,000 USDT in downline investment volume) – 1% pool
- Pool 2 (generate 250,000 USDT in downline investment volume) – 1% pool
- Pool 3 (generate 500,000 USDT in downline investment volume) – 1% pool
- Pool 4 (generate 1,000,000 USDT in downline investment volume) – 1% pool
- Pool 5 (generate 5,000,000 USDT in downline investment volume) – 1% pool
Note that no more than 50% of required downline investment volume can come from any one unilevel team leg.
Banqiro affiliate membership is 50 USDT.
Full participation in the attached income opportunity requires additional investment in BNQ tokens.
BNQ tokens are being sold to early Banqiro promoters for 13 cents to 26.5 cents each.
Diverting from his “Ultima” branding, Banqiro comes off as a side hustle Ponzi of Alex Reinhardt’s.
There’s not much to Banqiro as a business. BNQ is a BEP20 shitcoin. These can be set up in a few minutes at little to no cost.
And beyond that, Banqiro itself has nothing to differentiate itself from any other crypto offering.
Banqiro as a Ponzi scheme exists through the “staking” model. Reinhardt is pitching “~10% a year” on staked BNQ.
Attached to this is a unilevel compensation plan, incentivizing recruitment of BNQ investors.
There’s no source of revenue entering Banqiro other than new investment. Said investment funds withdrawals, with early investors hoping to cash out before BNQ inevitably dumps (read: Alex Reinhardt cashes out).
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Banqiro of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 26th November 2023 – Banqiro has collapsed.