Carnelian12 Review: NFT trading ruse MLM crypto Ponzi
Carnelian12 fails to provide ownership or executive information on its website.
Carnelian12 operates from two known website domains:
- carnelian12.net – privately registered on February 20th, 2023
- c12.net – first registered in 1999, private registration last updated on May 4th, 2023
In an attempt to appear legitimate, Carnelian12 provides an incorporation certificate for “C12 Trading & Services Limited”.
C12 Trading & Services Limited is represented to have been incorporated in Hong Kong on March 29th.
C12 Trading & Services Limited is a Hong Kong-based entity, founded by the tech team lead Andreas Garcia & Partners.
For the purpose of MLM due-diligence, basic incorporation in any jurisdiction is meaningless. This is due to the ease with which scammers are able to register shell companies with bogus details.
Furthermore, “Andreas Garcia & Partners” doesn’t exist outside of Carnelian12’s website.
As of April 2023, SimilarWeb tracked top sources of traffic to “carnelian12.net” as the US (33%), South Africa (14%), Spain (9%) and Italy (8%).
Top sources of traffic to “c12.net” are the US (16%), Germany (13%), Russia (10%), Brazil (9%) and Spain (8%).
The Central Bank of Russia issued a Carnelian12 pyramid fraud warning on May 2nd, 2023.
Although not definitive, this suggests Russian scammers might be behind Carnelian12.
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.
Carnelian12’s Products
Carnelian12 has no retailable products or services.
Affiliates are only able to market Carnelian12 affiliate membership itself.
Carnelian12’s Compensation Plan
Carnelian12 affiliates invest USD equivalents in cryptocurrency. This is done on the promise of a 12% a day ROI paid for 12 days.
Carnelian12 pays referral commissions on invested cryptocurrency down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 2%
- level 3 – 1%
Carnelian12 affiliates who convince others to invest over $100,000 in cryptocurrency receive 7% on level 1.
Joining Carnelian12
Carnelian12 affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $12 investment.
Carnelian12 solicits investment in various cryptocurrencies.
Carnelian12 Conclusion
Carnelian12 represents it generates external revenue via NFT trading;
The main activity of Carnelian12 is trading digital assets.
The NFTs, which have given new life to cryptocurrencies by combining art value collection and digital technology, has also triggered smart upgrades in our yielding mechanism.
Notwithstanding the NFT market collapsed last year, Carnelian12 provides no verifiable evidence it is engaged in NFT trading.
Furthermore, Carnelian12’s business model fails the Ponzi logic test.
Carnelian12 pitches a 144% ROI over 12 days:
If Carnelian12 was capable of legitimately generating 144% every 12 days, what do they need your money for?
As it stands, the only verifiable source of revenue entering Carnelian12 is new investment.
Using new investment to pay a 144% ROI every 12 days makes Carnelian12 a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Carnelian12 of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 13th June 2023 – Carnelian12 has collapsed.
Update 23rd May 2024 – Carnelian12 has been rebooted as C12V2.
They are very transparent about business telling all. don’t invest more than you can afford to lose.
Yeah no worries chief. Hiding who runs the scam, failure to register with financial regulators and no audited reports = vErY tRaNsPaReNt.
Whether you’re willing to lose money to scammers is irrelevant to Carnelian12 being a Ponzi scheme in which the majority of investors are guaranteed to lose money.
C12 is not at all what this article says. C12 is an amazing trading platform. And it pays. Everytime i requested a withdrawal i recieved it in my Binance.
Regardless of whether you’re stealing money through it presently, Carnelian12 is still a Ponzi scheme in which the majority of investors will lose money.
/obvious
C12 does not promise 144% profit for a 12 business day contract. So the statement you make, is false. You have your investment back in 8-9 days (100%). Days 9-12 is profit (44%).
Everything else you say, may or may not be correct. Only time will tell. So far (and I joined in January 2023), C12 has delivered. Why don’t you join and then we Re-evaluate in 6 months?
100 + 44 = 144, paid after 12 days as stated in the review.
It is. Sorry for your loss.
Yet Carnelian12’s website domain wasn’t registered till late February 2023.
GG Russian Ponzi shills…
25 years later, it still grates on my nerves every time one of these idiots attaches the word “investment” to one of these SCAMS.
The odds of anyone seeing any profit would be profoundly better “investing” at a blackjack table.
SD
Most of the scammers start like this, they act like all is well then the following comes. mark my word you will see this coming:
– They will ask for KYC update and lock withdraws and attach a fee to the KYC update task.
– An upgrade will come where they will lock withdraws again and ask all users to deposit a certain amount to reactivate account.
– They will change business rules along the way to make it more difficult to withdraw but deposits will still be easy.
– They will disappear with the money after that upgrade which will just be a change of website appearance and nothing more.
Just to give people an up date, C12 has not paid for 7 Days now, So I belive it might be going down.
Added to this delay, according to the note on the website, new requests (presumably withdrawals at least) will only be processed when pending requests have been finalised according. It definitely looks like the end is nigh.
Yes, it is the end. Now C12.net’s new ruse is to pretend they have paid” investors” by changing withdrawals statut from ” paying” or ” in work” to”complete” to mislead subscribers they are been paid when they really are not.
I saw Carnelian12 mentioned “everything back to normal” by Monday 12th. If they’re still stuffing around I’ll call the collapse.
Russian scammers dont register in HK, only chinese scammers do 🙂
Been obvious this is collapsing for quite some time, anyone still in doubt gotta wake up. If you look at tronscan at their wallet they’ve been draining their wallet slowly, depositing small amounts into other chinese wallets.
If you actually did some research you would see its not Russians, its chinese. One of the tokens they have in their wallet is free.vip (doesnt look russian to me) then theres 202229.com , mma22.vip all these tokens have websites, if you visit them its purely chinese. These guys have their hands in a shit ton of scams.
Hong Kong and Singapore shell companies are used by both Russians and the Chinese.
Russian and Chinese scammers also work together. CBR is usually on top of Russian scams (at least as far as warnings go).
Yes, they are widely used by both typically when the operation is sanctioned by the government, however at this point in world history with everything thats going on, russian hackers are not permitted to do so.
However the CCP on the other hand has been on a roll acquiring all sorts of assets to trade them in for gold in order to change the nominal from USD to gold.
The whole point of scam shell companies is they are registered with bullshit information.
I think we should file a complaint with SEC and spread the link so we can make a mass complaint of c12.
sec.gov/oiea/Complaint.html
Good idea, but probably useless. I have submitted a complaint because I had made a small investment and reinvestements to see how this scheme operated.
As expected, it has collapsed so now I can from experiment describe it as a scam/ponzi.
(July, 7 2023) If I could give a 0 rate to Carnelian12, I would. It is a major scam in which, I’m ashamed to admit, I fell.
The site is now showing on my account that my withdrawals are “complete” or “paid”, while C12 is using this method to flush me out of the system taking my money and the earnings.
There is no hash or tracking number that can be used. And what bugs me the most is that their scam is still there up and running continuing to scam more people with no shame whatsoever.
If you are reading this, please DO NOT invest any funds on Carnelian12 or any other website that isn’t licensed and fully registered. And don’t let anyone convince you otherwise. Lesson learnt.
C12 is Bull@ with a capital “B”. As far as I know some people managed to generate some sort of income via this platform and were lucky enough to withdraw their money right on time before c12 stopped paying.
Other than that we all should know that earning good money ALWAYS requires good efforts on our side and doesn’t just grow on trees.
Luck had nothing to do with it. They invested before you and stole your money.
Welcome to Ponzi schemes.
This bunch are quite sneaky. First it was necessary to withdraw any interest gained to the Binance wallet from which the “investor” had deposited to C12. Then more funds could be deposited. This makes it look pretty legitimate.
After a while, ‘to make things easier,’ internal reinvestment was activated. I bet most people found this working well because they just entered a couple of choices.
At this stage I suspect that the results shown in portfolios were purely funny money.
Next, withdrawals were flagged as “Paying” for days. At some time recently, withdrawals have been shown as “Completed”.
The address to which the payment was supposedly made is apparently the “investor’s” Binance wallet address. However, it seems that these completed payments have never been received in the Binance wallets.
Yes, the site is offline , wherever the money you all had there is lost , dont look back its life.
i join in this month 50$ in bitcoins to test cant witdraw anything.
its like someone says here before , this sites use home farms and in the beginning you can get money but one day they need close the farms and the lasts months people get scamed lets see next site.
There is no “farm”. Ponzi schemes like Carnelian12 recycle invested funds to pay earlier investors.
When that runs out the admin exit-scams with what’s left. Running along to the “next site” guarantees more losses.
I invested $3000 in May and my investment has grown.
The site is down for maintenance.I have not been able to log in for more than 12 hours.
You gave $3000 to scammers and got numbers on a screen. Sorry for your loss.
I tested the scheme with a few $ in April. As noted above, for a while, reinvestment required withdrawal to Binance and deposit from there. This worked fine, even with “reinvesting” smaller amounts than withdrawn.
After a bit, reinvestment was made easier by being possible directly from the dashboard. Still, withdrawals were possible.[NOTE I had so little in that withdrawals were only the minimum $12 or whatever.] No proof yet that this was a scam.
In June, reinvestments began to be very. very slow, but still accepted and shown in your “balance”. Withdrawals seemed to stop at that point.
OK, there it goes as expected. At the moment, the clever little bot still shows that deposits are earning the 12% (imaginary) per day.
Very sorry but your money has gone to Ponzi heaven, as far as my experiment shows.
version 2 of this ponzi is now here –
c12v2.net/
c12v2.online/
Promoted by the serial ponzi promoter Coach Saffy:
youtube.com/watch?v=YRBCMZ5imF0&t