Mainet Review: Collapsed BeTrader Ponzi reboot with forex
Mainet fails to provide ownership or executive information on their website.
Mainet’s website domain (“mainet.business”), was privately registered on May 26th, 2022.
Further research reveals official marketing material citing Ciprian Ciceu as Mainet’s founder and CEO.
Ciceu is behind BeTrader, an MLM “crypto trading” Ponzi scheme from 2019.
BeTrader launched in August 2019 and pitched 20% to 40% monthly returns.
By October 2019 BeTrader had already or was on the verge of collapse.
Ater BeTrader Ciceu launched BeTrader Academy, a shitcoin Ponzi scheme.
BeTrader Academy sold “couches”, with the ultimate goal to get people to invest in BETRA.
BETRA was an ERC-20 shitcoin. ERC-20 shitcoins can be set up in a few minutes at little to no cost.
BeTrader Academy’s website is still up but BETRA flopped and has since been abandoned.
Now, Ciceu has returned with Mainet.
Ciceu appears to be based out of Bucharest, Romania. He might also have ties to Belgium.
Read on for a full review on Mainet’s MLM opportunity.
Mainet has no retailable products or services.
Affiliates are only able to market Mainet affiliate membership itself.
Mainet’s Compensation Plan
Mainet affiliates invest funds on the promise of an “up to” 0.75% daily ROI.
Mainet offers eleven investment tiers:
The MLM side o Mainet pays on recruitment of affiliate investors.
Mainet Affiliate Ranks
There are seventeen affiliate ranks within Mainet’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Starter – sign up as a Mainet affiliate and invest
- Jade – convince others to invest $100
- Silver – convince others to invest $300
- Gold – convince others to invest $750
- Pearl – convince others to invest $1500
- Sapphire – convince others to invest $3000
- Ruby – personally have invested at least $50, and convince others to invest $7500
- Emerald – personally have invested at least $100, and convince others to invest $15,000
- Platinum – personally have invested at least $250, and convince others to invest $30,000
- Diamond – personally have invested at least $500, and convince others to invest $75,000
- Blue Diamond – personally have invested at least $1000, and convince others to invest $150,000
- Green Diamond – personally have invested at least $2500, and convince others to invest $300,000
- Red Diamond – personally have invested at least $5000, and convince others to invest $1,000,000
- Black Diamond – personally have invested at least $10,000, and convince others to invest $3,000,000
- Crown Diamond – personally have invested at least $20,000, and convince others to invest $10,000,000
- Ambassador – personally have invested at least $50,000, and convince others to invest $20,000,000
- Royal Ambassador – maintain a $50,000 minimum investment, and convince others to invest $50,000,000
Mainet 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.
Mainet caps referral commissions at ten unilevel team levels.
Referral commissions are paid as a percentage of funds invested across these ten levels as follows:
- level 1 (personally recruited affiliates) – 6%
- levels 2 and 3 – 4.5%
- levels 4 to 6 – 3%
- levels 7 to 10 – 1.5%
Mainet sets aside 20% of each investment and uses it to fund a Referral Bonus.
The Referral Bonus is paid out based on rank:
- Starters receive a 4% Referral Bonus
- Jades receive a 5% Referral Bonus
- Silvers receive a 6% Referral Bonus
- Golds receive a 7% Referral Bonus
- Pearls receive an 8% Referral Bonus
- Sapphires receive a 9% Referral Bonus
- Rubys receive a 10% Referral Bonus
- Emeralds receive an 11% Referral Bonus
- Platinums receive a 12% Referral Bonus
- Diamonds receive a 13% Referral Bonus
- Blue Diamonds receive a 14% Referral Bonus
- Green Diamonds receive a 15% Referral Bonus
- Red Diamonds receive a 16% Referral Bonus
- Black Diamonds receive a 17% Referral Bonus
- Crown Diamonds receive a 18% Referral Bonus
- Ambassadors receive an 19% Referral Bonus
- Royal Ambassadors receive a 20% Referral Bonus
The affiliate who recruited the new affiliate receives their rank-specific Referral Bonus percentage, what is left out of the total 20% is then paid upline to higher ranked affiliates.
This is tracked via the same unilevel team referral commissions are paid through (see “Referral Commissions” above).
E.g. you are Platinum and recruit a new affiliate who invests. You are paid a 12% Referral Bonus, leaving 8% still to pay out (20% minus 12%).
The system searches upline for a Diamond or higher ranked affiliate.
Let’s say your upline (whoever recruited you), is a Black Diamond. They receive 5% (Black Diamonds receive 17%, you’ve already been paid 12%, leaving a 5% difference).
This still leaves 3% to be paid further upline to Crown Diamonds, Ambassadors or Royal Ambassadors. How the 3% is paid out is determined by what rank is found first.
Note that if a Royal Ambassador is the recruiter, or they are found upline, they are always paid the full 20% or remaining outstanding percentage.
Rank Achievement Bonus
Mainet rewards affiliates for qualifying at Jade and higher with the following one-time Rank Achievement Bonuses:
- qualify at Jade and receive $5
- qualify at Silver and receive $10
- qualify at Gold and receive $25
- qualify at Pearl and receive $35
- qualify at Sapphire and receive $75
- qualify at Ruby and receive $225
- qualify at Emerald and receive $375
- qualify at Platinum and receive $750
- qualify at Diamond and receive $2250
- qualify at Blue Diamond and receive $3750 and an iPhone 13
- qualify at Green Diamond and receive $7500 and an iPad
- qualify at Red Diamond and receive $35,000 and a “luxury trip”
- qualify at Black Diamond and receive $100,000 and a Rolex watch
- qualify at Crown Diamond and receive $350,000 and a Mercedes-Benz or BMW
- qualify at Ambassador and receive $500,000 and a Ferrari or Lamborghini
- qualify at Royal Ambassador and receive $1,5000,000 and an apartment in Dubai
Mainet affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $25 investment.
Mainet’s passive investment scheme is run under the guise of investors purchasing “software licenses”.
The licenses correspond to purported forex trading, which Mainet represents is the source of ROI payments.
Mainet’s passive investment scheme constitutes a securities offering.
This requires Mainet to register with financial regulators and file periodic audited financial reports.
This is the only way to verify Mainet is using trading revenue to pay affiliates.
At time of publication neither Mainet or Ciprian Ciceu is registered with financial regulators in any jurisdiction.
This means that, at a minimum, Mainet and Ciceu are committing securities fraud.
In an attempt to feign legitimacy, Mainet provides MyFxBook records it claims reflect trading revenue.
This is a common tactic of MLM Ponzi schemes. It is not a substitute for registering with financial regulators and operating legally.
As it stands, the only verifiable source of revenue entering Mainet is new investment. Using new investment to pay ROI withdrawals makes Mainet a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Mainet of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
We’ve already seen the Ciceu’s “trading” Ponzi ruse play out with BeTrader, don’t fall for it again.
Update 22nd May 2023 – France’s AMF has added Mainet to its securities fraud blacklist.
The blacklisting occurred last month, following which Mainet disabled investor withdrawals on May 11th.
As as the time of this update, Mainet withdrawals are believed to still be disabled.
Update 14th June 2023 – Following its collapse, Mainet appears to have been rebooted as Verse Network.