EmpiresX Review: 1% a day BTC & ETH Ponzi scheme
EmpiresX provides no information on its website about who owns or runs the company.
EmpiresX’s website domain (“empiresx.com”) was privately registered on December 1st, 2019.
Despite being set to English, certain elements on EmpiresX’s website still show up in Portuguese:
This suggests whoever is running EmpiresX is fluent in Portuguese.
Further research reveals EmpiresX marketing material crediting Emerson Pires and Flávio Gonçalves as co-founders of the company.
According to his LinkedIn profile Emerson Pires is based out of Florida in the US.
BehindMLM first came across Emerson Pires in our comments section. Back in 2018 Pires showed up to defend the Mining Capital Coin Ponzi scheme.
Apperently everyone is misguided and have not done their research correctly.
Instead of speaking about any mlm company in the market why not do actual investigation such as actually speaking to owners and getting the full truth and proof of a a company before jumping into conclusions. Please read your own reviews behindmlm.
As an early investor, Pires likely made money. Mining Capital Coin collapsed by the end of 2018.
Possibly due to language barriers, I was unable to establish Pires’ involvement in any other MLM opportunities.
Flavio Goncalves is purportedly based out of Brazil. Same issue with language-barriers.
Update 5th June 2021 – BehindMLM reader Semjon has tied Flavio Goncalves to the Brazilian MLM software company Technology2u.
It seems Technology2u ran out of scams to sell their services to so, with the help of Emerson Pires, decided to start their own.
For more information refer to comment #1 below. /end update
Read on for a full review of EmpiresX’s MLM opportunity.
EmpiresX has no retailable products or services, with affiliates only able to market EmpiresX affiliate membership itself.
EmpiresX’s Compensation Plan
EmpiresX affiliates invest $200 or more in bitcoin or ethereum, on the promise of an advertised “up to 1%” daily ROI.
- Affiliates invest $200 and receive up to 0.6% a day
- Investors invest $400 and receive up to 1% a day
These investment tiers should not be confused with “affiliate investors” below, used to refer to EmpiresX affiliates who have invested.
Note EmpiresX charges a 20% withdrawal fee made on withdrawals within an affiliate’s first month.
EmpiresX Affiliate Ranks
There are seven affiliate ranks within EmpiresX’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Rank 1 – invest $500 and recruit at least one EmpiresX affiliate investor
- Rank 2 – invest $1000 and recruit at least two EmpiresX affiliate investors
- Rank 3 – invest $1500 and recruit at least three EmpiresX affiliate investors
- Rank 4 – invest $2000 and recruit at least four EmpiresX affiliate investors
- Rank 5 – invest $3000 and recruit at least five EmpiresX affiliate investors
- Rank 6 – invest $4000 and recruit at least six EmpiresX affiliate investors
- Rank 7 – invest $5000 and recruit at least seven EmpiresX affiliate investors
EmpiresX 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.
EmpiresX caps payable unilevel team levels at nineteen.
Referral commissions are paid out as a percentage of funds invested across these nineteen levels as follows:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 4%
- level 3 – 3%
- level 4 – 2%
- levels 5 to 19 – 1%
Using a second set of affiliate ranks, EmpiresX rewards affiliates for encouraging others to invest.
- Bronze Trader (generate $16,000 in unilevel team investment volume) – receive a “ledger”
- Silver Trader (generate $48,000 in unilevel team investment volume) – receive a “smart watch”
- Gold Trader (generate $64,000 in unilevel team investment volume) – receive an iPad
- Sapphire Trader (generate $480,000 in unilevel team investment volume) – receive a “travel voucher”
- Emerald Trader (generate $1,600,000 in unilevel team investment volume) – receive a Rolex watch
- Emerald X Trader (generate $3,200,000 in unilevel team investment volume) – receive a “compact car”
- Ruby Trader (generate $11,200,000 in unilevel team investment volume) – receive a “luxury sedan”
- Ruby X Trader (generate $16,000,000 in unilevel team investment volume) – receive a “luxury crossover”
- Diamond Trader (generate $48,000,000 in unilevel team investment volume) – receive an “exotic car”
- Double Diamond Trader (generate $80,000,000 in unilevel team investment volume) – receive “sports cars”
EmpiresX affiliate membership is tied to an initial $200 or $400 investment.
The difference between these two investment tiers is income potential.
Note that EmpiresX solicits investment in bitcoin and ethereum.
EmpiresX represents it generates external revenue via “software”.
With our software, your return is guaranteed, yielding up to 30% profit per month.
Supposedly EmpiresX’s trading activities are overseen by the “master trader” Joshua Greg.
As above, Greg is being credited as either working at or working for Goldman Sachs.
Outside of EmpiresX Greg doesn’t have a digital footprint. This is a red flag, suggesting a bogus name is being used.
What we do know is the individual playing Joshua Greg has an American accent. Whether he’s in the US or offshore though is unclear.
As part of their marketing efforts, EmpiresX provides affiliates with trading reports in their backoffice.
Two important points need to be stressed:
- This is not evidence of EmpiresX actually using external revenue to pay withdrawals.
- Social media marketing is not a substitute for registering with financial regulators and providing audited financial reports.
By their own admission, EmpiresX is running a passive investment MLM opportunity:
Sign up, purchase the plan, add funds and put the robot to work. Then just sit back and watch the profit be deposited in your account.
This constitutes a securities offering, requiring EmpiresX and its executives to register with financial regulators.
In the US that’s the SEC, in Brazil it’s the Securities Commission.
A quick check of the SEC’s Edgar database reveals neither EmpiresX, Emerson Pires and Flávio Gonçalves are registered.
EmpiresX fail to provide evidence they have registered with Brazil’s Securities Commission, or a financial regulator in any other jurisdiction.
This means that at a minimum, EmpiresX is committing securities fraud.
MLM companies commit securities fraud when they aren’t doing what they claim to be. With respect to EmpiresX, this is generating external revenue to pay withdrawals via trading.
The only verifiable source of revenue entering EmpiresX is new investment.
Using new investment to pay a daily return makes EmpiresX a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve EmpiresX of ROI revenue, eventually prompting a collapse.
The math behind MLM Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 1st December 2021 – Following non-payment of withdrawals for a month and a half, BehindMLM has called EmpiresX’s collapse.
Update 19th January 2022 – EmpiresX has announced it is shutting down.
Update 7th 2022 – The SEC has sued Emerson Pires, alleging at least $8 million in damages.
The lawsuit pertains to Mining Capital Coin, a Ponzi scheme Pires co-founded in late 2017.
I think I managed to discover the IT company involved in this scam.
So the follwing goes out to Brazilian & international law enformenet people who must act to stop this ASAP. And for the investors who will inevitably lose money in this fraud — this is a key party whom to target in your legal actions.
You can see that on the same ip which hosts some of the EmpiresX subdomains, is a domain “bluoceaninvestment.com”
It was originally registered by a company called Tecnologia2u –> domainbigdata.com/nj/bviSIEDQV0fYM5XJGGyicA
Technologia2U is a Brazalian it company which markets itself as a MLM scamming software provider. See:
On the .org domain you can see en email “flavio[@]tecnologia2u.com.br”
The Tecnologia2U even left publically available their Trello page: trello.com/b/fjXEThdx/tecnologia2u
One of he particpants on the Trello page “flaviogoncalves8″(trello.com/flaviogoncalves8/activity) — our EmpiresX FlaviO!
So there you have it, suckers (and cops)!
Tecnologia2u ran out of scams to sell their scripts to and so they started their own.
These guys are registered in Miami too technology2u shorturl.at/norCI how easy is to register a scam in the USA?
Basic US incorporation is almost as easy as UK Companies House. You just find an agent and give them bogus details.
Completely irrelevant from a regulatory perspective. Basic incorporation != registration with SEC.
They provided proof of trading activity on Ameritrade broker and demonstrated direct link of these trades on the back office during live Zoom meetings (some of these zooms are available in YouTube).
Is it possible to cheat us at that point ??
Social media videos aren’t a substitute for registration with the SEC and legally required filed audited reports.
You saw proof of Ponzi theater.
Of course it is.
Hello, I want to inform you that this trader who named himself as Master trader, is JOSHUA DAVID NICHOLAS, The owner of JDN CAPITAL LLC.
he has lost his certificate over a complaint and NFA banned him for 8 years to reapply. his FINRA code is 6529944 and The other thing is about EMERSON PIRES, he was the vice president of MINING CAPITAL COIN, And he already has different complaints in AFRICA.
Some news also points that “IS YOU SEE HIM IN YOUR COUNTRY JUST CALL THE HOTLINE OF INTERPOL HOTLINE”.
as I’m not a fan of YOUTUBE for many reason, we (TRADER BOT REVOLUTION) made different videos about scammers but Youtube has restricted many of our videos.
This would explain a lot. What I’m missing is a face to put to Joshua David Nicholas outside of EmpiresX to confirm.
Any chance you’ve got that. I’ve been poking around and turned up nothing so far.
In the same channel, you pimp ai.marketing/inb though: youtube.com/watch?v=AefeDAq9_QY
Nailed him. Joshua goin’ down. Standby.
@antiMLM Yeah, Unfortunately… I confess that yes we made videos about AIM, it was the first day of our channel, I didn’t share any Link in there for affiliation. But recently all we are doing is to show the real face of these companies, I hope it’s understandable…
And Now I removed this video. I’m fine if you attack me. I understand… But now I am not in any MLM, Ponzi, or whatever their name is. Thank you.
If you want I can share the documents about EmpiresX, GoKuMarket, ANTARES (ALEX RICHTER I mean his real name and identity) 🙂
Fair enough! I’m all for people learning from mistakes. I’d use that for a video too though, a Bio of past errors to prove you aren’t just a hater haha.
AIM, Was the first and the last experience I’ve ever had in MLM.
let me tell you something. we have a chatroom. in this chatroom, we tried many times to share evidence and documents about INB (INeuroBrain), What happened to this company, Aleksey Malakhove, and other members of this company, but I think those that call themselves leaders have control over investors.
they said that these documents that you are sharing in your chatroom are just rumors and you should let people invest in a piece without being worry.
AI.GESTION also joined our chatroom. tried to talk about the reliability of this company.
it’s a hot topic in our chatroom. we truly want to help. but we are just two against almost 700 members who are the fan of AIM.
Post your experiences for AIM here: https://behindmlm.com/mlm-reviews/inb-network-review-ai-marketing-cashback-ponzi-scheme/
Hi guys, to be honest when we started the channel on trader bot revolution I wanted to talk about passive income and crypto with Boujee and yes I insisted with her to join me on AIM.
my bad, but after few weeks I understand tha it will be more important to exposed frauder and scams than promote “passive Income”.
I’ve made 2 vidéos bout Antares to exposed Alex Richter, but striked by YouTube, now also empiresX in English and French version and both striked cuz Joshua ask to YouTube..so we’re not in any MLM or Ponzi or whatever things like that..
we really try to protect our community that’s it.. and I learned from my mistakes.
Is there a way we can report this scam to FBI.
FBI website should have a report page.
Wow! This is incredible report you are sharing. It gives me chills in my spine. I know this is to good to be true.
And guess who is pimping this? SHOHAN BOWALA.
After his first 30 programs scammed, he needs to be stopped.
If your not good on recruitment, you won’t be able to reach any levels, or it depends on the money you invested.
Emerson Pires owner of EmpireX was running a scam company called Mining Capital Coin. Both stole millions of dollars from Africans especially Tanzania, Kenya, Uganda and Nigeria where their biggest number of victims were located in Africa.
We have videos of these scammers and whoever is trusting Emerson, trust him at your own risk.
Withdrawals pending. Investors wait for more than 3 weeks for their withdrawals. The ship is sinking.
How do we reach these Guys @Empire X? I have questions?
If the questions are “where’s my money?”, EmpiresX admins don’t want to be found.
I have a number of scammers on my FB friends list and this is the latest one they are trying to push on me. I only keep them as friends so I can use this evidence against them.
My investigations end up with the Action Fraud UK. They are useless if I have to say so.
I’ve reported quite a few and all their stories are the same with the red flags etc etc. Its getting boring as AF do nothing but tell me they will keep the information.
Empiresx it scamming poor south african in africa the leaders wjo brought this bad thing in south africa should be arrested by fbi.
i hope all victm of empiresx should come togethe and open case against this whom stealing from. poor people in south africa we want our money.
Hat tip- Joe Lu from EmpiresX now what fb group….
What a busy day! Working on an article and then I’ll get stuck into this.
Thanks for the head up.
You’re welcome!!..looking forward to your write up on this…