BigWhale Review: BNB staking Ponzi scheme
BigWhale fails to provide ownership or executive information on its website.
BigWhale’s website domain (“bigwhale.io”), was privately registered on January 30th, 2023.
One name we can attach to BigWhale is Marianna Vilchez:
In BigWhale marketing videos, Vilchez claims to represent its Media Relations department.
When she’s not marketing dodgy crypto schemes run by anonymous scammers, Vilchez works as an Executive Assistant at Quizam Media Corp.
Marianna Vilchez joined Quizam Media Corp. in early 2020.
She is responsible for various administrative and human resource duties at On-Track Corporate Training and Quantum Cannabis.
Quizam Media Corp is a Canadian firm that combines a corporate training center with a retail cannabis division.
Whether anyone else from Quizam Media Corp is involved in BigWhale is unclear.
BigWhale represents it is run through BigWhale Fintech AG, a Swiss shell company registered by persons unknown.
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.
BigWhale has no retailable products or services.
Affiliates are only able to market BigWhale affiliate membership itself.
BigWhale’s Compensation Plan
BigWhale affiliates invest Binance Coin (BNB). This is done on the promise of daily passive returns:
- invest 0.1 to 1 BNB and receive 0.8% a day
- invest 1 to 10 BNB and receive 1.2% a day
- invest 10 to 30 BNB and receive 1.5% a day
- invest 30 to 80 BNB and receive 1.8% a day
- invest 80 or more BNB and receive 2% a day
BigWhale pays referral commissions on daily returns paid down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 5%
- level 3 – 2%
BigWhale affiliate membership is free.
Full participation in the attached income opportunity requires a minimum 0.1 BNB investment.
BigWhale represents it generates external revenue by illegally providing banking services to high-risk clients:
We work with carefully vetted borrowers in the Crypto, Legal CBD Oil / Hemp production and other underbanked or unbanked industries, who are refused loans by traditional banks who do not fully understand these businesses or are bound by out-dated government regulations.
These borrowers take loans from our protocol at daily interest rates ranging from 2.2% all the way up to 5% depending on their profile & loan requirement, and this is how we are able to pay stakers like you between 0.8% to 2% daily returns for your investment into the BigWhale Protocol.
No evidence of BigWhale’s alleged illegal banking services is provided. Nor does the company name any of its clients.
In light of their publicly traded Quantum 1 Cannabis CBD division, Marianna Vilchez working for Quizam Media Corp is certainly interesting.
I don’t have any evidence anyone from Quizam Media Corp beyond Vilchez is involved in BigWhale.
BigWhale citing CBD production companies as a source of revenue and Vilchez working for a CBD production company, if unrelated, is a pretty significant coincidence.
If Quizam Media Corp or its employees are running BigWhale, that could point to money laundering taking place.
Quizam Media Corp and Vilchez are based out of British Columbia in Canada.
Neither BigWhale, Quizam Media Corp or Vilchez are registered with the British Columbia Securities Commission.
At a minimum, this means BigWhale and Vilchez are committing securities fraud.
Registration with financial regulators in markets they solicit investment in would require BigWhale to file audited financial reports.
This is the only way to verify BigWhale is generating external revenue via its claimed activity.
Instead of operating legally, BigWhale provides meaningless marketing documents to its investors:
The Vilchez Quizam Media Corp CBD link aside, BigWhale is otherwise running an obvious Ponzi scheme.
New investors sign up and invest BNB, and those funds are used to pay earlier investors. It’s the classic crypto “staking” Ponzi model we’ve seen time and time again.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve BigWhale of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 24th July 2023 – Among other things, BigWhale claims it has no association with Quizam Media Corp.