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 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.
Carnelian12 affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $12 investment.
Carnelian12 solicits investment in various cryptocurrencies.
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.
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.
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.
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.