Matt Bot AI Review: 10-30% monthly ROI securities fraud
Matt Bot AI operates from the domain “mtai.vip”.
The domain was registered with incomplete bogus information on December 30th, 2020.
At the time of publication Matt Bot AI’s website is nothing more than an affiliate login page, presented in default Chinese:
English is a selectable option, which brings us to Matt Bot AI’s promotion.
Matt Bot AI is primarily promoted to English-speaking potential investors via 10X Crypto Traders.
On Meetup 10X Traders is based out of California and represented by a group of 929 members.
The organizer of the group is Cliff Townsend:
As above, Townsend’s Meetup profile places him in Florida.
Outside of 10X Crypto Traders, Townsend doesn’t have much of a digital footprint.
In this absence of official marketing material provided, this review relies on Matt Bot AI presentations uploaded to 10X Crypto Traders’ YouTube channel.
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.
Matt AI Bot’s Products
Matt AI Bot has no retailable products or services, with affiliates only able to market Matt AI Bot affiliate membership itself.
Matt Bot AI’s Compensation Plan
Matt Bot AI affiliates pay an annual fee for access to a cryptocurrency trading bot.
Cryptocurrency is placed under control of Matt Bot AI, with 10X Crypto Traders touting 10% to 30% passive monthly returns.
Matt Bot AI’s anonymous admins take a 20% fee of profitable trades made by the bot.
The MLM side of Matt Bot AI sees affiliates paid to recruit new affiliates.
Commissions are paid as a percentage of annual fees paid by recruited Matt Bot AI affiliates.
Matt Bot AI Affiliate Ranks
There are six affiliate ranks within Matt Bot AI’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- One Star – sign up as a Matt Bot AI affiliate
- Two Star – recruit three affiliates and have fifty affiliates in your downline
- Three Star – recruit five affiliates, have a Two Star in three individual legs and have a downline of two hundred affiliates
- Four Star – recruit ten affiliates, have a Three Star in three individual legs and have a downline of five hundred affiliates
- Five Star – recruit twenty affiliates, have a Four Star in three individual legs and have a downline of one thousand affiliates
- Partner – recruit thirty affiliates, have a Five Star in three individual legs and have a downline of two thousand affiliates
Note that “legs” refers to unilevel legs. Each personally recruited affiliate generates a new unilevel team leg.
In order to count towards qualification criteria, recruited affiliates must be current with annual fee payment.
Matt Bot AI affiliates earn a percentage of fees paid by personally recruited affiliates:
- One Stars earn 30%
- Two Stars earn 40%
- Four Stars earn 50%
- Five Stars earn 65%
- Partners earn 70%
Matt Bot AI’s admins take a 20% cut of any profitable trades made by the bot.
Up to 60% of this 20% collected fee is used to pay residual commissions.
- One Stars earn a 20% residual commission rate
- Two Stars earn a 30% residual commission rate
- Three Stars earn a 40% residual commission rate
- Four Stars earn a 50% residual commission rate
- Five Stars earn a 55% residual commission rate
- Partners earn a 60% residual commission rate
Residual commissions are coded and tracked 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.
The way coded residual commissions are paid is the difference between ranks.
E.g. You are a Four Star and a Two Star you’ve recruited recruits a new Matt Bot AI affiliate.
The Two Star is paid their 30% residual commission rate. Because you’re a Four Star, you are paid the difference between your rate and that of Two Star (50% – 30% = 20% paid out).
Of the maximum 60% paid on all 20% admin fees collected, 10% remains to be paid out (the Partner 60% rate minus your 50% rate).
The system searches further upline for either a Five Star or Partner ranked affiliate.
If a Five Star is found first, they are paid 5% (55% – 50%). The remaining 5% is paid to the first upline Partner ranked affiliate found.
If a Partner is found first, they are paid the full 10% outstanding residual commission.
Note that nothing is passed up when a Partner affiliate is found. Be it a direct or coded residual commission, Partners are always paid the full 60% or what’s left of 60% to be paid out.
Joining Matt Bot AI
Matt Bot AI affiliate membership is $150 annually, paid in tether (USDT).
Matt Bot AI uses the standard MLM crypto trading bot securities fraud business model.
Ownership details aren’t provided, because securities fraud is illegal the world over.
The MLM side of Matt Bot AI is pyramid recruitment, as 100% of commissions paid out are tied to recruitment and payment of $150 annual affiliate fees.
With respect to Matt Bot AI as a trading bot, it should be noted that 70% of the $150 paid for access to it is recycled to pay commissions.
That leaves $45 paid for the bot annually.
If you had a trading bot capable of legitimately generating a consistent 10% to 30% a month, would you sell access to it for $45 a year?
As part of my research into Matt Bot AI, I noted at one time attempts to access the domain homepage threw a “white label” error.
This error has since been rectified. Matt Bot AI’s domain homepage now redirects to a parked message.
This suggests Matt Bot AI is just a white label trading bot script bought from a third-party.
Prospective Matt Bot AI affiliates should be wary of social media trading results “proof”. This is not a substitute for audited financial reports.
Matt Bot AI also fails to disclose any information about its bot to affiliates, again in violation of securities law.
Typically pseudo-compliance sees trading bot scammers pretend they aren’t selling a passive investment scheme.
This is not the case with 10X Crypto Traders’ promotion of Matt Bot AI.
[28:47] So Princess shared her story of sharing Matt Bot with a couple of people.
She earned ninety dollars, and she was then able to transfer those funds into her investing account.
Fantastic strategy. That’s how you “10x” your earnings.
Regardless of whether the existence of a passive investment scheme is acknowledged, it’s there nonetheless.
Remember, where pooled funds are stored is irrelevant with respect to securities law and establishing an investment contract as per the Howey Test.
If Matt Bot AI itself doesn’t lose investor funds through bad trades, the trading bot exit-scam sees funds lost to admins via rigged trades.
A documented example of this playing out on BehindMLM is iQuandex.
The rigged trades exit-scam is typically accompanied by excuses that don’t hold up to scrutiny.
As to who’s behind Matt Bot AI, as I write this Alexa pegs the US as the only notable source of traffic to its website (37%).
This suggests that Cliff Townsend and 10X Crypto Traders could be behind the scheme. Or alternatively persons known or unknown to Townsend, operating elsewhere within the US.
Thankyou so much for your information. Please continue to send me more emails as you discover more about this company.
I was introduced to this company thru a friend. She knows nothing about bit coin currency and her up line recommended she invest in Doge at $12 dollars a percentage of the coin. The idea is to buy low and sell high.
She claims she invested $500.00 and in 10 days she profited $200.00. She got ripped off on a scam prior to that from a different company of $300.00.
Im am just very leary of MLM… On the conference call Ken said he was introduced from about the company from a friend of his in Indonesia. The company is orignally from China??? too many questions…
can you recommend and good legitimate Cryptocurrency company???
Sure, any MLM company trading cryptocurrency that’s registered with financial regulators and providing periodic audited financial reports.
Take your pick, there aren’t any for a reason.
I AM NOT INTERESTED IN MLM BUSINESS. BEEN THERE DONE THAT…I MEAN REGISTED CRYPTO COMPANIES?
This is BehindMLM. Maybe try Behindregisteredcryptocompanies?
I think this is a very biased review on this bot. Though there are some elements of MLM behind this bot but it doesnt mean its a SCAM, there’s a very serious allegation when you did not fully experiment the bot itself.
Personally I been using this bot for almost a year now and its been generating profit for me.
Did you know that this bot binds to your exchange such as Binance or Huobi and it uese API which therefore you can select the setting on what this bot can do which is limited to read only and trade.
So all trading activity it traded in your own exchange and you can cross reference all the trading activity that matches your trade history.
So u setup accordingly on the coins you want to trade using different strategies and it will self execute.
lets say worst case scenario where this bots collapsed or “run away”, the funds are still lock in in your own exchange.
so please enlightened me how is this a fraud/scam where none of your funds go missing and you still see actual profit in your own custodian wallet/exchange.
This isn’t a review of a bot. It’s a review of Matt Bot AI as an MLM opportunity.
Nobody said it did. Strawman much?
Seeing as Matt Bot AI’s website domain was only registered in December 2020, that makes you one of the early adopters, possibly an insider.
Scammers who get in early love their scams. They’re the ones who steal most of the money.
Yeah the thing about a “lulz can’t touch our money!” exit-scam is they don’t leave you with any funds in your account.
Not your bot? Not your trades.
You wake up one day and your account is cleaned out. Sorry for your loss.
Also MLM + securities fraud = automatic scam.
Whoever wrote this seems to be more familiar with the MLM portion than I am lol.
Anyway I have been using this bot since Sep this year.
Started out with $2k, now I have about $2.4k in the trading account (OKEX, which the API authorized to the bot does not have Withdrawal permission). not factoring in paper losses (actual value would be higher if I did).
Also, this does not factor in any commissions from the MLM program; I am quoting numbers on the trading platform itself, not the bot.
Frankly speaking, after having used it personally, I think 30% a month may be kind of an overstatement, but 10-15% is quite plausible.
You basically set up the rules to trade in the AI, so it does not quite clear out your account.
In the worst case scenario, you are merely stuck with coins that have went down in value, but that is a result of your own choices of cryptos to trade on. It cannot “clean out” your account, because OKEX/Binance/Huobi will have to all be a fraud in order for that to happen.
Just my two cents.
Not your bot, not your trades.
Matt Bot AI’s anonymous owners can have the bot do whatever they want when it’s time to exit-scam.
Who are you going to complain to? You gave full control of your assets to random scammers.
OKEK/Binance/Huobi et. al. won’t/don’t care. You have no recourse against them either.
Erm no, it’s still your trades on the platform. They actually show up under your own trading account.
As for “bot your bot”, even a renowned FX platform in Singapore collaborates with ChartNexus as a third-party robo. it’s more common than you think actually.
How it works is that you authorize, with an API, for the bot to operate your Trading account.
Contrary to what you mentioned, no, you do not “give full control”.
Under this API, you can set permissions for Read, Withdraw, and Trade.
What we would authorize is only Read and Trade; that means the bot cannot withdraw from your Trading account. It can only tell how much USDT you still have in your account, and place orders to buy/sell with your trading account, but they can’t withdraw from your account.
Technically, the bot AI can do whatever they want, but it won’t benefit them in any manner. They can make you place a lot of trades, but it brings no benefits to them except mischief.
The commissions from your trades are only deducted from a small deposit amount that you leave on the bot itself, which typically would be less than a hundred at best.
You can put anything into an account and claim it’s yours. To qualify as YOURS, you and only you should actively trade, not a third-party bot in your name. Till then – not your trades.
So what? This doesn’t negate the fact that Matt Bot AI is a scam.
Again, irrelevant to the scam itself.
Yes, YOU do not give full control. The admins may, though. Why? Because access to the source code/admin panel/whatever else there is.
Again, YOU would authorise this. Admins can authorise Withdraw as well, though. This means that admins can (and likely will) withdraw from your account.
Surely it will benefit the admins, though.
Not your bot, not your trades. You’re giving scammers complete access to your money.
You don’t seem to understand how the “lulz can’t touch our money!” exit-scam works.
You don’t need to directly withdraw to clean out gullible investors’ accounts.
Of course not, it’s the Matt Bot AI scammers running it that benefit. At your expense.
lol erm nope.
No, admins on the bot CANNOT authorize withdrawal.
During the setup of the API from OKEX, you select the permissions granted.
Every time you want to change this permission, OKEX will require an OTP by email, by SMS, and by an Authenticator app.
The bot do not have access to any “source code” or “panel”.
The bot do not have access to your email, your phone, or your Google Authenticator.
The bot does not have your passwords to access your OKEX account.
All it is capable of doing, is to Read the assets that you have, and the ability to place orders to trade, because that is the only access that OKEX is giving them.
You are not giving your passwords or access to your OKEX account to the bot. I think this is where you are not understanding it correctly and that’s why you actually think that the bot can clear out your account or change the permissions.
As for whether the trades are mine, it doesn’t quite matter how you want to define it. I see the trades done on my OKEX account and not the bot.
I see the assets in my OKEX grow in value, so deny it all you want, but it is still my trades done on my account, performed by a bot.
You want to insist that the bot is a scam.
Now given that they CANNOT withdraw from your OKEX account, how are they going to scam you?
You insist that they can “clean out your account”. How so?
P/S: I suggest before you try to argue further, please first open a trading account (such as Binance or OKEX), and understand how the API works.
Otherwise you are arguing in ignorance of how things work on the system and your arguments would not provide any value.
They don’t need to. They program the bot to trade in their favor and sorry for your loss.
Not your bot, not your trades.
PS. I suggest before you try to argue further, you research the “lulz can’t touch our money!” exit-scam model.
Otherwise you are arguing in ignorance of how things work on the system and your arguments would not provide any value.
“Trade in their favor”.
In what way would it be “trading in their favor?
I have did some research on the subject, and have confirmed that it does not apply.
If you feel I am wrong, feel free to point out how the exit scam works in this instance, instead of just persistently repeating “scam scam scam” without validating how.
P/s: Your invalid repetitions on “not your bot not your trades” is getting stale. Stubborn repetitions are not going to validate it.
Digital Profit trading bot generates $100,000s in losses
There was another example in SEA, company started with “M” from memory. Wasn’t calling it the “lulz can’t touch our money!” exit-scam then so it’s difficult to track down.
Ignoring “lulz can’t touch our money!” exit-scams that have played out isn’t research.
It’s literally all this comes down to. Read the iQuandex review comments. You’re regurgitating the same naive excuses.
Ah.NOW we are getting somewhere.
Let’s look at them.
The difference is that iQuandex is a trading platform itself.
It is the platform running its own bot. The victims’ assets are held with iQuandex directly.
In the case of Matt, your assets are held under a separate platform (Binance, Huobi, or OKEX currently).
So unless the three platforms are in cahoots with Matt, Matt cannot touch your money. So the above example does not apply.
Secondly, Trading Profits.
Trading profits work by drawing a commission on your trades, regardless whether your trades profit, or not.
In the case of Matt, they draw commissions only upon a profitable trade, and this commission only deducted from the assets which you have placed into Matt for this purpose.
OKEX do not pay Matt for the commissions.
So it does not benefit Matt in any way for draining your account. Thus, this example does not apply as well.
I did a research on exit scams, but I didn’t find any that applies to this situation. Again, if you have any specific links, feel free to share them as above.
What’s being regurgated here appears to be invalid arguments, btw.
False. Read the review. It’s the same “lulz can’t touch our money!” business model.
And? You still wake up one day and sorry for your loss.
You clearly still haven’t grasped the concept of scam admins benefitting from rigged trades.
Not your bot, not your trades.
iQuandex == Matt Bot AI == Royal Q == every “lulz can’t touch our money!” scam out there
Instead of just making that claim, point out in what way is it “false”.
A claim without any substantiated arguments is empty.
Your comment don’t make sense, because you haven’t proved how Matt would benefit from clearing your account in OKEX.
Explain how. Again, no arguments, no validity.
Are indeed my trades. Parroting it does not make your claim true.
Mate if you’re not going to read the iQuandex review and subsequent exit-scam article, spam-bin.
All the answers to your questions are there.
Every trade has a loser and a winner. You wake up and your account is cleared. You lost. Guess who won?
Not your bot, not your trades. You give scammers complete control of your money.
I have read it and that’s how I concluded that they are different.
As I mentioned, iQuandex runs their own platform, unlike OKEX/Matt.
(Ozedit: this is false, derails removed)
Search under “iQuandex”. (Ozedit: snip, see below)
I don’t need to “search iQuandex” because I personally researched it to put together BehindMLM’s original review.
If you can’t separate the MLM commissions from the trading bot part of the business that’s your problem. Comprehension failure on your part is a running theme here.
And having personally researched iQuandex myself, I couldn’t care less what anyone else has written about it.
I’ve held your hand and provided you evidence both iQuandex and Matt Bot AI are based on the same “lulz can’t touch our money!” fraud model. Stop wasting my time.
sir, good moring.
my country india, matt ai bot not working pls update.
Update: MattBott is a Ponzi scheme. Your money is gone. Sorry for your loss.