Miny Review: MINY token Ponzi points scheme
Miny operates in the cryptocurrency MLM niche and claims to be based out of Hong Kong.
According to Miny’s website, the company was founded by Thomas Norberg in November 2019.
Thomas Norberg, who was born in Russia and completed his Master in International Business and Management in Sweden.
Norberg’s vision was to create a platform that allows anyone from any corner of the world to earn through mining.
Norberg doesn’t appear to exist outside of Miny’s marketing material (no video), casting doubt on whether he’s an actual person.
Update 23rd November 2020 – Eight days after we published this article, Miny uploaded a marketing video featuring this guy playing Thomas Norberg:
The actor playing Norberg has a distinct European accent, marking him as a prime Boris CEO candidate.
To this day Norberg doesn’t exist outside of Miny’s marketing material, all but confirming he doesn’t exist. /end update
Miny’s website domain (“miny.cc”) was privately registered in September 2018.
At the time of publication Alexa ranks Venezuela (15%), Russia (10%) and Brazil (8%) as top sources of traffic to Miny’s website.
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.
Miny’s Products
Miny has no retailable products or services, with affiliates only able to market Miny affiliate membership itself.
Miny’s Compensation Plan
Miny affiliates invest USD and cryptocurrency on the promise of 10% to 19% monthly returns.
USD
- invest $50 to $750 and receive a 10% monthly ROI
- invest $750 to $15,000 and receive a 15% monthly ROI
- invest $15,000 or more and receive a 19% monthly ROI
BTC
- invest 0.005 to 0.08 BTC and receive a 10% monthly ROI
- invest 0.08 to 1.65 BTC and receive a 15% monthly ROI
- invest 1.65 BTC or more and receive a 19% monthly ROI
ETH
- invest 0.25 to 4 ETH and receive a 10% monthly ROI
- invest 4 to 80 ETH and receive a 15% monthly ROI
- invest 80 ETH or more and receive a 19% monthly ROI
LTC
- invest 0.75 to 11 LTC and receive a 10% monthly ROI
- invest 11 to 225 LTC and receive a 15% monthly ROI
- invest 225 LTC or more and receive a 19% monthly ROI
Returns are paid in MINY tokens, which affiliates can withdraw through Miny’s internal exchange.
Miny’s website states that 1 MINY = $1 USD as a starting value. Whether this value has since changed in their internal exchange is unclear.
Referral Commissions
Miny pays referral commissions on MINY token investment 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.
Miny caps payable unilevel team levels at twenty.
Referral commissions are paid out as a percentage of funds invested across these twenty levels as follows:
- level 1 – 100% (personally recruited affiliates)
- level 2 – 10%
- level 3 – 5%
- levels 4 to 20 – 1%
Note that referral commissions are paid in MINY tokens.
Joining Miny
Miny affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $50, 0.005 BTC, 0.25 ETH or 0.75 LTC investment.
Conclusion
Miny is your typical internal token mobile app Ponzi scheme.
In its marketing material, Miny claims to generate external revenue via cryptocurrency mining.
MINY presents you with an extremely simple, easy, and accessible method of earning passive income.
Participating in the mining pools of this cryptocurrency mining platform will offer returns on the balance retained in your mining pool.
No evidence of mining revenue being generated and used to pay affiliates is provided.
Nor has Miny registered its passive investment opportunity with securities regulators in any jurisdiction it solicits investment in.
Thus even if “evidence” of mining taking place was provided (typically on social media), it’d be meaningless.
As it stands the only verifiable source of revenue entering Miny is new investment.
New investment is stored by Miny and used to honor internal exchange withdrawal requests.
Using new investment to pay existing affiliates makes Miny a Ponzi scheme.
The reason Miny uses MINY tokens to pay returns and commissions is because they cost the company little to nothing to generate on demand.
In effect MINY tokens are Ponzi points, the value of which is arbitrarily set by Miny’s owners.
MLM Ponzi points schemes run into trouble when recruitment inevitably slows down. This starves Miny of funds to pay withdrawal requests with.
What happens next will either be a public-exchange exit-scam, or Miny’s anonymous owners will simply disappear.
In either scenario, the majority of Miny affiliates will be left bagholding worthless Miny tokens.
Update 6th January 2020 – As of late December 2020 Miny has collapsed.
The company’s website is no longer online and Miny’s website domain itself has been abandoned.
What annoys me, it’s how they can easily buy press releases to appear even more legitimate. And media outlets don’t even take responsibility of promoting scam sites on their platforms… kind of upsetting.
ok, if it’s a ponzi scheme, and it doesn’t mine, can you explain something to me? I have been withdrawing from them for 3 months, and I made the payments all the time in btc.
I guess you know how long a transaction made from one exchange takes … or from one wallet to another … do you know how long a transaction from miny takes?
the maximum interval was ONE HOUR! does that mean nothing?
Sure, you personally stealing money from people who join after you doesn’t change the fact Miny is a Ponzi scheme. Ditto how long your stolen money wallet transfers take.
Yes. Yes it does. You’re welcome.
i dont take money from nobody… I Dont have referalls, and if one day i have one, if you read the whitepapper, you see the bonus is in the total of mny releasead.. but i think you dont read that..
Every dollar you withdraw out of Miny is money you’ve stolen from other people. Whether you recruited them or not is irrelevant.
Ponzi scheme whitepaper = used toilet paper. There is no substitute for legally required audited financial reports.
It’s OK to admit you have no clue how a “ponzi” scheme works – really, it is.
That lack of understanding doesn’t alter the fact you are stealing from others, however
Hmm was gonna join because my friend said he got all payments he requested so far, see his blog (Ozedit: spam removed)
Whether your “friend” is getting paid or not has nothing to do with Miny being a Ponzi scheme.
That’s actually a DANGER signal, because the longer a Ponzi runs, the less money it has.
You’re such a hungry blogger who don’t know what to write about… Miny. Cc is not a ponzi scheme, I don’t see why people will just wake-up and start writing rubbish about people’s company.
I will boldly said that this blogger have not invest a penny in his entire life before, that’s why he insinuating rubbish..
For your information miny.cc is a legit company that has been paying 10% interest for two months now they even have option of releasing your capital if you don’t want to invest again..
Please I will advice this blogger to better try some other thing for himself not blackmailing.
Once again, rather than doing actual due-diligence it comes down to “pOnZi PaId Me BaCk 20% tOtAlLy LeGiT!”
If you have to ignore the scam your defending is in fact a Ponzi scheme, you’ve already lost.
@Gg
WOW! A whole two months it has been paying. That must be some kind of record….NOT.
If this can’t pay for at least 6 months, it is a pathetic attempt at being a Ponzi.
But make no mistake this is a Ponzi, which you are going to find out the hard way in just a couple more months.
When your money is lost hopefully you will have learned a valuable lesson. Just because it is paying is not due diligence.
Heck I don’t even think you know what it means to do real “due diligence” or even what the words mean.
For if you did know, you would have never joined this Ponzi in the first place.
Ok this STARTS saying the CEO is fake and there’s no video of him… I came here after watching one where he was the only person in the whole video.
Soooo…..?
Check their YouTube.
The review clearly states:
There is no video of Norberg provided on Miny’s website. There is also no link to an official YouTube channel.
If they’ve hired some actor to play Norberg since June 2020, that’s cool – but at the time of publication Norberg existed only in Miny’s marketing copy.
As for Norberg being played by an actor, Soooo…. what? Boris CEO footage is only good for a laugh, it doesn’t prove legitimacy.
I assume this is the video you’re referencing?
youtube.com/watch?v=zlocB2BEKNg
It was uploaded on June 20th, eight days after we pointed out Norberg doesn’t exist.
Typical Boris CEO video, Euro accent, shot in the middle of nowhere. GG Russian/Ukrainian scammers.
miny cc has been down for several days including their so called info@minycc support email address.
so what info does miny cc have on their website being down before christmas and still down past the new year?
Not only is the website down but the domain has been abandoned.
This is the Ponzi end game. Sorry for your loss.