CryptoPerformance Review: CPCoin securities fraud
CryptoPerformance operates in the cryptocurrency MLM niche. The company launched in 2019.
Attached to CryptoPerformance is CPCoin, which operates off a separate website domain.
International Performance Group owns both companies.
International Performance Group is a shell company incorporated in Kazakhstan.
Heading up CryptoPerformance are co-founders Horst Staebler and Giuseppe Rimola.
According to his LinkedIn profile, Horst Staebler was a Juice Plus distributor from 2009 to 2015.
Sometime between 2015 and 2017 Staebler got into cryptocurrency:
USI-Tech started off as a forex Ponzi scheme but migrated to bitcoin in 2017.
Following regulatory warnings across multiple jurisdictions, USI-Tech collapsed in 2018.
Giuseppe Rimola’s LinkedIn profile is rather barren, citing only “cryptocurrency trader” (2016-2019) and CryptoPerformance (2019-).
I wasn’t able to establish whether Rimola has an MLM history. This might be due to language-barriers.
Both Staebler and Rimola are based out of Stuttgart, Germany. As opposed to Kazakhstan, this is where CryptoPerformance is actually operated from.
Read on for a full review of CryptoPerformance’s MLM opportunity.
CryptoPerformance has no retailable products or services.
Affiliates are only able to market CryptoPerformance affiliate membership itself.
CryptoPerformance’s Compensation Plan
CryptoPerformance do not provide compensation details on their website.
The following analysis has been put together from an official corporate presentation.
Regular CryptoPerformance affiliates invest cryptocurrency on the expectation of passive returns.
- Crypto-Package 150 – $150
- Crypto-Package 250 – $250
- Crypto-Package 500 – $500
- Crypto-Package 1000 – $1000
- Crypto-Package 2500 – $2500
- Crypto-Package 5000 – $5000
- Crypto-Package 7500 – $7500
- Crypto-Package 9500 – $9500
CPCoin is included with the packages, however the exchange rate is not disclosed.
Platinum CryptoPerformance affiliate membership can be obtained for an additional $899 to $1999 fee.
In addition to increased commission rates, Platinum CryptoPerformance affiliates also have affiliates recruited near them automatically added to their downline.
Platinum CryptoPerformance affiliates who pay $899 to $1999 for membership, have anyone recruited within 60 km of their signup location added to their downline.
CryptoPerformance Affiliate Ranks
There are six affiliate ranks within CryptoPerformance’s compensation plan.
Criteria qualification information wasn’t available. Nor is it clear what benefits advancing in rank provides.
CryptoPerformance 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.
CryptoPerformance caps payable unilevel team levels at eight.
Residual commissions are paid as a percentage of funds invested across these eight levels, based on whether Platinum member fees have been paid.
Regular CryptoPerformance affiliates earn
- level 1 (personally recruited affiliates) – 10%
- level 2 – 4%
- level 3 – 2%
- level 4 – 1%
- levels 5 and 6 – 0.5%
- levels 7 and 8 – 0.25%
Platinum CryptoPerformance affiliates earn
- level 1 – 20%
- level 2 – 8%
- levels 3 – 4%
- level 4 – 2%
- levels 5 and 6 – 1%
- levels 7 and 8 – 0.5%
CryptoPerformance takes 5% of monthly company-wide investment and places it into a bonus pool.
$1499 and $1999 Platinum CryptoPerformance affiliates receive an equal share of the Pool Bonus each month.
Fast Start Bonus
Platinum CryptoPerformance affiliates who buy in at the PI-Package 2 ($1499) or PI-Package 3 ($199) tier, qualify for the Fast Start Bonus.
The Fast Start Bonus is paid as 10% of PI-Package fees paid by personally recruited Platinum affiliates within the qualifying affiliates first thirty days.
Regular CryptoPerformance affiliate membership is tied to a $150 to $9500 initial investment in CPCoin.
Platinum CryptoPerformance affiliate membership costs an additional $899 to $1999.
- PI-Package 1 – $899
- PI-Package 2 – $1499
- PI-Package 3 – $1999
These appear to be one-time membership fees.
Platinum CryptoPerformance affiliates earn higher commissions over Regular CryptoPerformance affiliates.
CryptoPerformance solicits investment in bitcoin, ethereum, tether, link, iota, stellar, cardano, tron and infinityeconomics.
CryptoPerformance’s CPCoin scheme is your typical pump and dump.
You sign up, hand over cryptocurrency in exchange for CPCoin, number go up, and you cash out someone else’s money.
Or at least that’s the marketing pitch. CPCoin is barely tracked anywhere but charts are still available on Coinbase:
CPCoin’s pump peak was $9.43 on June 26th, 2021. The dump bottomed out at 12 cents on October 26th, after which public tracking stopped.
CPCoin’s dump coincides with CryptoPerformance affiliate recruitment slowing down.
At time of publication Alexa ranks website traffic to CryptoPerformance as “n/a”. CPCoin’s website traffic rank is 5.5 million (practically n/a).
Breaking down the flow of money within CryptoPerformance, the bulk of cryptocurrency invested wound up with founders Horst Staebler and Giuseppe Rimola.
No doubt they and some early investors cashed out during the mid 2021 pump.
Commissions were paid to top promoters. And, like in any pump and dump scheme, the majority of CryptoPerformance affiliates are left holding the bag.
Seeing as the only motivation to invest in CryptoPerformance was the expectation of a passive return, it’s MLM opportunity constitutes a securities offering.
Outside of Kazakhstan, International Performance Group isn’t registered to offer securities in any jurisdiction.
CryptoPerformance and CPCoin aren’t registered to offer securities in any jurisdiction.
Seeing as there’s no retail offering, the MLM side of CryptoPerformance operates as a pyramid scheme.
In conclusion, within CryptoPerformance we have securities and pyramid fraud.
CryptoPerformance’s owners made off with most of the crypto invested, and affiliate investors are left bagholding yet another worthless MLM shitcoin.
Rimola is a friend of Harald Seiz and was fundamental in the building of the Karatbars Ponzi Scheme.
Brian McGinty has been the main promotor of the Crypto Performance scam and is listed as the Marketing Director on the website.
He was one of Karatbar’s biggest UK affiliates and has since fled the UK to live the high life in a villa in Malta (purchased with stolen funds from Karatbars).
McGinty helped Rimola launch Crypto-Performance two years ago. The coin was available on two exchanges, Bitmart and P2P-B2B.
Three months ago the coin was suddenly delisted on both exchanges after suffering a massive dump, and since then Rimola and Staebler have offered no explanation and have fled Germany.
Their current whereabouts are unknown.
There are nearly 2,000 desperate investors looking for answers (see for yourself on the official Telegram group).
Constant requests and pleads for information are ignored and now it has been months since the management has disappeared and the coin delisted from all exchanges and there are still no answers.
I saw Staebler boasting about being in Dubai on Instagram. Wasn’t sure if it was a holiday so didn’t bring it up in the review.
If they’ve fled Germany then looks like they’ve joined the Dubai scam collective.
Graham Laurie (AKA Cash Master) Promotes CPCoin: youtube.com/watch?v=1s6siE-Kruk
In the past, Graham Laurie has promoted Karatbars (he was/is a close friend of Brian McGinty) and USI Tech.
He also promotes Daysi and has promoted Hyperfund, Mining City and the Bitclub Network in the past.
His blog has a large following and he makes a lot of money referring people to these scams.
The answer is a simple one; it was a scam from day one.
I was immediately removed from their telegram group for asking a simple ligitimate question about the dump.
Why is there no answers and a timeframe to relist and trade. Its been 4 months, everyone just told to be positive, great things are coming and just wait for good news.
I must laugh about how gullible those in the group are.
I have been invested in this project for over a year. Of some of the promises, such as its own blockchain or its own bank, virtually nothing has been implemented so far.
Once you have bought, you have almost no chance to get your money back.
To me it looks like the company does not have enough financial resources to take the next necessary steps, listing on top ten exchanges and active international marketing.
There is no real use case to fill the coffers.
Spoiler: there never was any plans to “take the next necessary steps”.
Ponzi schemes tell you anything to get your money.
Whoever wants to invest, beware. Not answering support tickets why my SWAP function to sell coins not working.
You are not allowed to sell at any price only at their predetermined level, so your coins are sitting in the order book to wait for it to be matched.
I’ve been trying to sell my coins since they introduced this function for the last 5 months. I have also been tracking the daily sales on the P2Pb2b exchange where they have listed their coins.
Everytime the price has risen way past my sell price, nothing has happened.
Brought it to their support but they reply its out of their hands, really? Or they just don’t answer at all.
Save your money folks or look for better projects or coins to invest.