Mazebits Review: Bitfinite ICO lending Ponzi reboot
Mazebits provide no information on their website about who owns or runs the business.
The Mazebits website domain (“mazebits.co”) was privately registered on January 25th, 2018.
Further research reveals Mazebits marketing material citing the company as a “rebranding” of the Bitfinite ICO lending Ponzi scheme.
This is supported by content on official Mazebits social media profiles, detailing a conversion of Bitfinite BFC points into Mazebits MZBC points.
Bitfinite went on to collapse in early 2018. Like every ICO lending Ponzi scheme, Bitfinite’s anonymous owners made off with the majority of invested funds.
This resulted in widespread losses among Bitfinite investors.
Mazebits is a continuation of the scheme run by the same anonymous admins.
Read on for a full review of the Mazebits MLM opportunity.
Mazebits has no retailable products or services, with affiliates only able to market Mazebits affiliate membership itself.
The Mazebits Compensation Plan
Mazebits affiliates purchase pre-generated MZBC points from the company’s anonymous owners.
MZBC points are sold to Mazebits affiliates for 50 cents to $1.10 each.
Once acquired, BFC points are “lent” back to Bitfinite on the promise of a daily “variable interest” ROI.
- invest $100 to $1000 and receive a variable daily ROI rate for 120 days plus 0.1% daily bonus rate
- invest $1001 to $10,000 and receive a variable daily ROI rate for 90 days plus 0.25% daily bonus rate
- invest $10,001 to $50,000 and receive a variable daily ROI rate for 60 days plus 0.4% daily bonus rate
Note that ROI payments are made in MZBC points.
Mazebits pay referral commissions on invested funds down three levels of recruitment (unilevel):
- 5% on level 1 (personally recruited affiliates)
- 3% on level 2 and
- 1% on level 3
Mazebits affiliate membership is free, however free affiliates only earn referral commissions.
Full participation in the Mazebits MLM opportunity requires a minimum $100 investment.
While the collapse of the ICO lending Ponzi scheme has mostly resulted in scammers and victims moving on, Bitfinite’s admins see it as an opportunity to scam people out of even more money.
After pre-loading Mazebits with desperate Bitfinite victims, new victims will be called upon to invest in Mazebits.
Like Bitfinite, Mazebits will run an internal exchange through with MZBC points can be converted into real money.
When enough funds have been invested the internal exchange will again shut down and once again, Mazebits’ admins will do a runner with invested funds.
Why have they come back for a second round of scamming?
Maybe the ongoing decline of cryptocurrency in general hit them hard. Maybe they made a few bad investments and have run dry. Maybe they blew all of their Bitfinite money on hookers and coke.
Who knows. It’s not important.
What is important is Mazebits is another cookie-cutter entry into the ICO lending Ponzi niche. This fraudulent model hasn’t worked out for anyone but the scammers running them, and Mazebits will turn out no different.
If you lost money in the original Bitfinite Ponzi, I feel you. But converting Ponzi points from one platform to another and hoping gullible new investors sign up for you to steal from isn’t the solution.
Take your losses on the chin and stop chasing Ponzi dreams.