MineRift Review: Daily returns Ponzi scheme
MineRift provides no information on its website about who owns or runs the company.
MineRift’s website domain (“minerift.biz”) was privately registered on April 21st, 2021.
MineRift represents it is incorporated in the UK. To that end an incorporation number corresponding with “Wardam LTD” is provided.
Whether MineRift has anything to do with Wardam LTD is unclear.
Regardless, an MLM company operating or claiming to operate out of the UK is a red flag.
UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.
As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.
For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.
Alexa traffic analysis to MineRift’s website reveals a pretty even spread between the US (16%), Saudi Arabia (14%) and Russia (11%).
None of these percentages are high enough to establish operational jurisdiction with any certainty.
It is however highly likely that whoever is running MineRift is based out of one of those three countries (US or Russia would be my guess).
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.
MineRift has no retailable products or services, with affiliates only able to market MineRift affiliate membership itself.
MineRift’s Compensation Plan
MineRift affiliates invest $20 or more on the promise of an advertised daily ROI.
- Curious Plan – invest $20 to $1000 and receive 5% a day for 40 days
- Glorious Plan – invest $1001 to $5000 and receive 7% a day for 40 days
- Victorious Plan – invest $5001 to $10,000 and receive 9% a day for 40 days
- Luxurious Plan – invest $10,001 to $50,000 and receive 11% a day for 40 days
MineRift pays commissions on funds invested by recruited affiliates.
These commissions are paid across three tiers of qualification; Standard Referral, Representative and Global Representative.
Regular MineRift affiliates earn referral commissions down three levels of recruitment:
- 6% on level 1 (personally recruited affiliates)
- 4% on level 2
- 2% on level 3
To qualify as a Representative a MineRift affiliate must recruit and maintain five affiliates with an active investment.
Representative referral commission rates are determined by how much a MineRift affiliate has earned:
- qualify as a Representative and earn 10% on level 1, 7% on level 2 and 5% on level 3
- earn $5000 in commissions and earn 12% on level 1, 8% on level 2 and 6% on level 3
- earn $10,000 in commissions and earn 13% on level 1, 8% on level 2 and 6% on level 3
- earn $15,000 in commissions and earn 14% on level 1, 9% on level 2 and 7% on level 3
- earn $20,000 in commissions and earn 15% on level 1, 9% on level 2 and 7% on level 3
- earn $25,000 in commissions and earn 16% on level 1, 10% on level 2 and 8% on level 3
- earn $30,000 in commissions and earn 17% on level 1, 10% on level 2 and 8% on level 3
- earn $40,000 in commissions and earn 18% on level 1, 12% on level 2 and 10% on level 3
- earn $50,000 in commissions and earn 20% on level 1, 12% on level 2 and 10% on level 3
- earn $75,000 in commissions and earn 21% on level 1, 13% on level 2 and 11% on level 3
- earn $100,000 in commissions and earn 22% on level 1, 14% on level 2 and 12% on level 3
Global Representative qualification is unclear. MineRift simply states prospective Global Representatives should
complete your Representative application via our representative section and one of our team will get back to you shortly with our decision.
MineRift affiliates who are approved as Global Representatives receive 10% on level 1, 7% on level 2 and 5% on level 3.
It appears those wishing to increase their referral commissions are just better off qualifying as a basic Representative.
MineRift affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum $20 initial investment.
MineRift solicits investment in USD, bitcoin, litecoin, ethereum, tron, dogecoin, tether and bitcoin cash.
MineRift is another Ponzi scheme representing basic UK incorporation permits them to commit financial fraud.
Is Minerift officially registered?
Certainly, Minerift Ltd is legit. Minerift is a listed investment company based in the United Kingdom and operates according to United Kingdom authorities.
MLM companies offering passive investment are required to register with financial regulators. In the UK that’s the FCA.
Not withstanding the FCA being useless, MineRift is not registered with the FCA.
At a base level, this means MineRift is committing securities fraud and operating illegally in the UK.
MineRift isn’t registered to offer securities in any jurisdiction, meaning the company operates illegally the world over.
The reason MineRift chooses to operate illegally is because it’s a Ponzi scheme.
On its website MineRift represents it generates external revenue via forex and cryptocurrency trading.
Minerift was formed with enthusiasm, with a concept of the prospect a way to change common trading around forex and cryptocurrency our business is the face of the expansion of tools, algorithms, and new online tools to make our associates achieve their monetary purposes.
No evidence of these activities are provided. Nor is there any evidence of MineRift generating external revenue from any other source.
The only verifiable source of revenue entering MineRift is new investment.
Using new investment to pay affiliates a daily return makes MineRift a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment runs dry so too will new investment.
This will starve MineRift of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.