Exchange Wallet Review: EXW Token mobile app Ponzi scheme
Exchange Wallet operates in the cryptocurrency MLM niche.
The company provides what appears to be a virtual address in Slovenia on its website.
Heading up Exchange Wallet is CEO Christian Kurt Singer.
Christian Kurt Singer’s name only appears on the internet on Exchange Wallet’s website.
Singer (right) doesn’t have a digital footprint, meaning his corporate and business background are unknown.
This is a major red flag suggesting Singer doesn’t exist, or might be using a pseudonym.
Either way the head of an MLM company being an unknown with no verifiable past raises questions.
Of note is Exchange Wallet’s website defaulting to German. Exchange Wallet’s website domain was also registered using an incomplete address in Carinthia, Austria.
This suggests that Exchange Wallet is being run out of Austria. Any ties to neighboring Slovenia appear superficial.
Read on for a full review of Exchange Wallet’s MLM opportunity.
Exchange Wallet’s Products
Exchange Wallet has no retailable products or services, with affiliates only able to market Exchange Wallet affiliate membership itself.
Exchange Wallet’s Compensation Plan
Exchange Wallet affiliates invest in EXW tokens on the promise of an advertised 0.1% to 0.32% daily ROI.
Exchange Wallet pays daily returns in EXW tokens.
Exchange Wallet Affiliate Ranks
There are ten affiliate ranks within Exchange Wallet’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Basic – recruit one affiliate
- Starter – recruit two affiliates
- Builder – recruit three affiliates
- Pro Builder – recruit six affiliates
- Expert Builder – recruit eight affiliates
- Ambassador – recruit ten affiliates
- Grand Ambassador – recruit twelve affiliates
- Diamond – recruit fourteen affiliates
- Diamond Ambassador – recruit sixteen affiliates
- World Elite – recruit twenty affiliates
Exchange Wallet pays referral commissions out 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.
Exchange Wallet caps referral commissions down ten levels of recruitment.
- level 1 – 50%
- levels 2 and 3 – 20%
- level 4 – 10%
- levels 5 to 7 – 5%
levels 8 and 9 – 2%
- level 10 – 1%
How many levels an Exchange Wallet affiliate earns referral commissions on is determined by rank:
- Basic ranked affiliates earn on level 1
- Starter ranked affiliates earn on levels 1 and 2
- Builder ranked affiliates earn on levels 1 to 3
- Pro Builder ranked affiliates earn on levels 1 to 4
- Expert Builder ranked affiliates earn on levels 1 to 5
- Ambassador ranked affiliates earn on levels 1 to 6
- Grand Ambassador ranked affiliates earn on levels 1 to 7
- Diamond ranked affiliates earn on levels 1 to 8
- Diamond Ambassador ranked affiliates earn on levels 1 to 9
- World Elite ranked affiliates earn on levels 1 to 10
Joining Exchange Wallet
Exchange Wallet affiliate membership is tied to investment in EXW tokens.
Exchange Wallet don’t specify a minimum investment amount or the current internal EXW value on their website.
Exchange Wallet is yet another MLM crypto app Ponzi scheme.
EXW Token is an ERC-20 token, which takes all of five minutes to set up.
The Ponzi element of Exchange Wallet is the same as any other MLM app wallet scheme.
EXW tokens are generated on demand by Exchange Wallet, and then sold to gullible affiliates on the promise of daily returns.
EXW tokens themselves have no value outside of Exchange Wallet. What value they hold inside Exchange Wallet is arbitrarily set by the company itself.
Once their initial investment is out of the way, Exchange Wallet affiliates acquire more EXW tokens via recruitment and the daily return.
By acquiring more tokens affiliates can eventually cash out more than their initial investment via Exchange Wallet’s internal exchange.
Exchange Wallet represent they generate external revenue via cryptocurrency arbitrage.
There is no evidence of this taking place, or any fund derived from arbitrage or any other external source of revenue being used to pay affiliates.
Furthermore Exchange Wallet is quite clearly offering a passive investment opportunity.
This requires it to register itself with securities regulators in every jurisdiction it solicits investment in.
Exchange Wallet provides no indication on its website that it has done so.
Having failed to register its passive investment opportunity with financial regulators, Exchange Wallet at a minimum is committing securities fraud.
In true Ponzi pyramid fashion, Exchange Wallet affiliates who invest early and/or recruit the most will withdraw the majority of invested funds.
When withdrawals exceed the rate of new investment, Exchange Wallet will collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
Update October 1st 2020 – It appears that Exchange Wallet collapsed on or around August 2020. The scheme was rebooted as Exchange World on August 26th.
Founders named on Exchange World’s website are Manuel Batista, Benjamin Herzog and Pirmin Troger.
As far as I can tell Exchange World is just the Exchange Wallet Ponzi scheme with added fluff.
Rumor has it Mike Keifer is involved.
The man behind is Benjamin Herzog. He also runs VIVA Payments, the alleged mother company of EXW Wallet.
CEO Benjamin Herzog has some bad track records. He already scammed a MLM mining company
Envase Mining / Avintex GmbH
This guy 20 years old and is posting pictures with teenies on his Facebook wall. No idea why people would trust him and put money into his business.
Ponzi Pimps like Aaron Civitarese (Civi) are already promoting the hell out of it.
Civi was hating on Ponzi wallets like Plus previously, and is now promoting a similar thing. LOL.
Today I received an email from Horst Strub, who wants to lure me into this fraud.
As always, if someone recommends a terrific business opportunity, I first check its imprint. That is, I did not expect it otherwise, a bad joke:
The phone number is from Malta. A popular home for European cheats. The contact details are so small that you need a magnifying glass to read it:
Horst Strub calls another email address at the end of his email:
Horst Strub also uses this email address for the fraud with FutureNet:
On XING Horst Strub calls himself “Internet Marketer” and lives allegedly in Bavaria:
Typical scammers like Horst Strub like to use other names or identities. On Twitter he writes his comments as Theo Müller (@Dantler):
So on Twitter he lives again in Bavaria, in Neuburg.
Here is the final proof that the imprint with Malta is a fake! Horst Strub calls his correct address in Bavaria on this Facebook page:
If Exchange Wallet was a serious business, Horst Strub could work with his real data. Those who work with false data know that they are working for a scam!
Yes, in this video Benjamin Herzog is also mentioned and shown:
This and all the other claims from that email are full of shit.
Exchange Wallet is no better or worse than Cloud Token, Plus Token or any of the other mobile app wallet Ponzi schemes. It’s exactly the same.
Scammers in Austria want their share of the crypto app token Ponzi pie.
Horst Strub begins his video with these words:
Who wants to participate in EXW must invest at least 500 euros:
I summarize: profits are absolutely not guaranteed, only a total loss is possible!
In Germany it is required by law that every website must have a complete imprint. Scammers hate this rule and try to circumvent it. As you can see on this page:
What’s the name of this scammer? coinguru.de? 😮
Strange name. I claim that the operator of the fraud portal my-exw-wallet.com is Svend Böttcher. Correct is this imprint from his website coinguru.de, because it calls the real name of the scammer:
Svend Böttcher does not mention his name in connection with EXW. Why?
Ponzi Pimp Steve Lawson is also BIG into promoting this on his Facebook profile, which shows his lack of knowledge and intelligence when it comes to assessing any online business or MLM.
Now (oct 2019) the EXW team are doing the Latin American tour. Already visited Peru and Brasil, and planing to visit Colobia, Chile, Mexico in order to promoto their system.
They mention that since Nov2019 they will have until 30 levels!!!
The promise increase your money but really dont explain how their TOKEN will increase value, and how it works.
What happened now? 😮 I can see now that the German OneCoin scammers Frank Schwarzkopf, Ralf Paulick, Benni Heimberger and Mike Poppel now support the fraud with EXW.
The announced fraud event takes place in Suhl, home of Ralf Paulick:
Also the German car salesman Steven Wagner will participate in the fraud event. He will introduce his “Projekt Autohaus”. Actually, Steven Wagner wanted to do that with OneCoin, but since the Exchange does not open, he wants to practice that now with EXW.
The :gerlachreport has taken my screenshot in an article about the EXW scam:
A friend of mine want to recruit me for this wallet. I see lot of red flags.
He told me that he visited headquarter in austria but I see that the society is incorporated in Liechtenstein.
I was convinced that People who is behind this is the same that was behind ix wallet because all look like the same .
I tried to see app in Google play store and I Saw that publisher of exw wallet is ix wallet so I was right. Now there is another New app but old app still here.
This is just a ( more professional) reboot of shitty scam ix wallet who exit scam some week ago.
On November 11, EXW organizes a scam event in Zurich (Switzerland). The former OneCoin scammer and self-proclaimed “car dealer” Steven Wagner from Germany will be present:
Invest If you like to get rekt financially.
Are you referring to the same EXW that I just joined?
One and the same.
EXW started locking up funds 4 months ago without consent. They failed to proove a legal basis for doing so and did not allow me to withdraw my funds since then.
I recommend to NOT INVEST WITH EXW!!!
EXW is a Ponzi scheme, you seriously expected them to provide you a legal basis for keeping your money?
It’s right there in the business model.
Review updated to note Exchange World reboot.
Markus Miller is a well-known critic of fraudulent companies like OneCoin and EXW. Here he reports on his success against EXW.
Read more on
Oops! What is that? Does someone recognize a legitimate exchange on viva-card.com? Only a part of the colored and flashing page:
A new website for the old scam?
The so-called “imprint” is a bad joke and does not comply with the legal requirements! No address, no phone number, just an email address:
The imprint of exw-events.com names three other websites of these fraudsters:
That’s right. This video shows the three scammers:
XChange World on YouTube:
The website of these scammers – exworld.com – is extremely informative: 🙂
Another website – exwupdatecall.com – is unavailable to me:
The amazing career of Benjamin Herzog – from a tea seller with his own shop in Klagenfurt to an EXW founder and scammer.
The full article from March 2017 was published here:
The website teatime-klagenfurt.com is no longer accessible. Benjamin Herzog prevented the website from being saved in the WebArchive. Why?
PS: We know that Benjamin Herzog escaped to Thailand:
What types of tea does he sell there? 🙂
Article from March 2020. Why is there no mention of EXW? What did Benjamin Herzog pay for this article?
PS: The Avintex GmbH mentioned in the article is in liquidation:
18 EXW cheating videos on this channel:
Also includes 3 videos in English, 1 in Polish and 1 in French:
EXW founder Benjamin Herzog speaks in some videos, but he cannot be seen. An example: