EthTRX Review: 10% a day app-based tron Ponzi scheme
A visit to EthTRX’s website reveals an empty backoffice for a few seconds:
Then the message “please logged on” pops up, before the visitor is redirected to an affiliate login/signup form.
When logged in as an affiliate, EthTRX provides a Google Store app link.
Interestingly enough, when I attempted to access the link manually it came back “not found”. Also note the whitepaper link provided is tron’s whitepaper, it has nothing to do with EthTRX.
EthTRX’s website domain (“ether-trx.com”), was privately registered on February 26th, 2022.
SimilarWeb currently ranks top sources of traffic to EthTRX’s website as Ethiopia (37%), Indonexia (13%) and Ukraine (10%).
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.
EthTRX has no retailable products or services.
Affiliates are only able to market EthTRX affiliate membership itself.
EthTRX’s Compensation Plan
EthTRX affiliates invest tron (TRX). This is done on the promise of a daily 5% to 10% ROI.
- VIP1 – invest up to 29,999.99 TRX and receive 5% a day, withdrawals capped at 2.8% of backoffice balance daily
- VIP2 – invest 30,000 to 199,999.99 TRX and receive 6% a day, withdrawals capped at 3% of backoffice balance daily
- VIP3 – invest 200,000 to 999,999.99 TRX and receive 7% a day, withdrawals capped at 3.4% of backoffice balance daily
- VIP4 – invest 1,000,000 to 9,999,999.99 TRX and receive 8% a day, withdrawals capped at 4% of backoffice balance daily
- SVIP – invest 10,000,000 to 99,999,999,999 TRX and receive 10% a day, withdrawals capped at 5% of backoffice balance daily
EthTRX pays referral commissions down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 12%
- level 2 – 5%
- level 3 – 2%
EthTRX affiliate membership appears to be free.
Full participation in the attached income opportunity requires an investment in tron.
EthTRX represents it generates external revenue via cryptocurrency mining:
No evidence of mining revenue being used to fund EthTRX withdrawals is provided.
As it stands the only verifiable source of revenue entering EthTRX is new investment. Using new investment to pay ROI withdrawal requests makes EthTRX a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve EthTRX of ROI revenue, eventually prompting a collapse.
There have been a number “VIP” MLM crypto app-based schemed launched recently. I suspect they are being churned out by the same group of scammers, operating out of south-east Asia.