MMM BSC Review: PAX MMM Global Ponzi reboot
Despite Sergey Mavrodi passing away just under two years ago, scammers continue to use his image to promote MMM branded Ponzi schemes.
The latest is MMM BSC, a reboot using the Paxos Standard (PAX).
PAX is an ERC-20 stable token that has nothing to do with MMM BSC.
Who’s behind MMM BSC is unclear but the company’s official YouTube channel began uploading recycled MMM content ten months ago.
A lot of the videos have Russian titles, so presumably whoever is behind MMM BSC is of Russian or Ukrainian origin. Another possibility is India.
MMM BSC’s website domain (“mmmbsc.global”) was privately registered on August 17th, 2019.
Alexa traffic statistics for the domain suggest it launched in late October.
At the time of publication Alexa estimates that 92% of traffic to MMM BSC’s website originates out of India. The Ukraine makes up 2%.
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.
MMM BSC’s Products
MMM BSC has no retailable products or services, with affiliates only able to market MMM BSC affiliate membership itself.
MMM BSC’s Compensation Plan
MMM BSC affiliates invest PAX on the promise of a 30% monthly return.
The catch is that in order to withdraw returns, another equal or greater investment must be made.
Referral commissions are available on invested funds, paid out via a fifty-one level deep unilevel team.
Note that MMM BSC don’t provide specific referral commission percentages.
The company’s website states only that
Guider ´s bonuses from the contributions made by the participants of their structures have a multilevel character.
You can invite people by sharing and get up to 51-layer team reward.
Joining MMM BSC
MMM BSC affiliate membership is free.
Full participation in the attached income opportunity however requires an investment in PAX.
MMM BSC do not disclose a minimum investment amount on their website.
Conclusion
Like every other iteration of MMM Global before it, MMM BSC is a closed-loop Ponzi scheme.
Newly invested funds are paid to existing investors, with recruiters taking a cut off the top.
The system is of course also rigged to favor admins, who are placed as the first investors.
When new investment inevitably slows down, MMM BSC is left unable to pay returns.
This prompts a collapse, resulting in the majority of investors losing money.
Examples of past MMM Global collapses include MMM Nigeria, MMM Zimbabwe, MMM South Africa and MMM Global itself.
MMM BSC makes a big deal about being on the blockchain. It’s important to note that math is math.
Whether you’re running a Ponzi scheme using made-up Mavrodi tokens, real money or an ERC-20 shit token, the end result is the same.
Your write up is incorrect, the article sounded more like hate speech because you can’t compete with the genuineness and transparent of MMMBSC.
No mutual aid system in the world that is as Fair and open as MMMBSC. With is adoption of blockchain smart contract technology that can b verify on Ethereum Blockchain.
Stop misleading the public with your incorrect analysis.
If you take a review calling out your Ponzi scam as hate speech, you might just be a fanatical scammer.
Being able to see yourself getting scammed on “the blockchain” doesn’t justify fraud. And calling Ponzi scamming “mutual aid” doesn’t change the nature of MMM BSC being a Ponzi scheme.
Those scammed receive no aid, stolen funds only flow in one direction (to the scammers).
MMMBSC uses decentralized blockchain smart contract technology to manage supply and demand information matching and fund exchange between donors and recipients.
The system operation is completely free from interference and control by human factors. The frequent occurrence of corruption incidents by managers of traditional mutual assistance systems has been eliminated.
This is the 11th month and not even a single person has complained of being scammed, may b your own definition of scam is when someone continuously earnings from a system season in season out
Can you read code, or are you just parroting the propaganda?
Do you know what these are?
# – unknown7382c5ca(?)
# – unknown7949fb3e(?)
# – unknownac3e4c51(?)
# – unknownae8123ba(?)
# – unknownf8a73e96(?)
No it isn’t.
All I read was “blah blah blah blah blah blah — no one has complained so it can’t be a scam”.
At which time, I conclude that John has no experience with scams. By the time people complained, it’s too late as the scammers have already executed their exit plan.
Ah… scamming put on higher, automated level. 😉
Note 1: Money never came out of the blue and there is no free lunch.
Note 2: Scam admins always get their share (slice of the money inserted in), no matter if the scam administration is automated or not).
Note 3: Gullible morons and admins can be satisfied if (if!) systems brings stable rewards for (already) 11 months for them.
I’ve heard the sentence “everybody is paid, nobody can complain, it cannot be a scam!” so many times… just before obvious Ponzi/pyramid scheme collapsed.
Longer time and more “satisfied” customers before collapse = more victims and bigger loss in the end.
(Ozedit: Copy paste marketing spam removed. Do not repost.)
This isn’t the place for copypasta Ponzi marketing spam.
If you yourself can’t address MMM BSC being an MMM Global Ponzi clone, thanks for confirming the obvious.
If some financial experts can still refer Bitcoin as (Ozedit: derails removed)
What bitcoin is or isn’t has nothing to do with MMM BSC being an MMM Global Ponzi clone.
Spam-bin and best of luck with the scamming.
Great writeup!
MMMBSC is a scam for the following reasons:
1. Does not educate on the fact that it is a ponzi (uses new funds to pay existing “investors”)
2. Uses several smart contracts which aren’t openly published to the public (by the way there only needs to be one contact if coded correctly)
3. Uses physical methods to collect funds that can’t be tracked by unsuspecting users.
MOST IMPORTANTLY: The funds held in one of the addresses are held in a VULNERABLE contract.
Funds are nearing $1,000,000 and either the creators know the contact is vulnerable and are leaving the door open to drain it on purpose, or are just novices when it comes to solidity programming. I’m guessing its a little of both.
If you have funds in MMMBSC you should cash them out before either the creators or anyone with a brain drains the contract and they cry “hack”. Just a fair warning.
Also note that I’ve spotted the vulnerability and am deciding whether to drain the funds now or later.
As far as letting the scamming creators keep the funds, that’s out of the question.
In regards to returning the funds to investors that also seems like a next to impossible task that may not be worth the work involved. Decisions decisions…
Sincerely ~ 0xelot
@0xelot, you know nothing about mmmbsc and you know nothing about blockchain smart contract which mmmbsc is built on.
If a hacker succeed in hacking into ethereum blockchain smart contract , I don’t think the person will be interested in mmmbsc smart Contract account when there are billions of dollars worth of coins in the same blockchain.
I’m sorry to say it, your write make no sense.
Vulnerabilities in a smart contract have nothing to do with the blockchain the contract runs on.
What you just said is the equivalent of “Nobody’s gonna hack the private software with a known exploit I put on my machine. Why would they, when banks run the same OS?”
Herp derp.
I remembered when this mmmbsc was launched in June last year, I tot it will end up or crash like the rest of other mutual aid system but to my surprise this is the 11th month and the platform is still active and paying.
Since after the days of the old mmm in 2016/17 no peer2peer has gone beyond 6 months at most.
Is there some innovation that this mmmbsc adopted that is making the difference? I want to give it a trial.
No innovation, MMM BSC is the same Ponzi model as the rest of the MMM Global clones.
It’ll pay out until new recruitment collapses. Then it will be “sorry for your loss” like the rest of them.
MMMBSC secret is the mechanism behind it, no single person has control or access to the fund. Is run on Ethereum Smart Contract. I think that’s the edge it has over the previous peer2peer.
I won’t be surprise if it last up to 5 years. .The innovation is the Smart Contract which no other mutual aid platform in the past has tried or used.
There is no secret because the business model is the same Ponzi scam MMM Global scammers have been rebooting for years.
Whether it’s run via a PHP script or smart contract, MMM BSC and all the other clones are unsustainable Ponzi schemes.
Smart contracts are not above the laws of mathematics.
“But muh Smart Contract!”
So which mutual aid system is sustainable? cos in this global lockdown period, i need to try something that can earn me extra cash.
When you consider “mutual aid system” is scamspeak for “Ponzi scheme”, none of them.
Try to work. I know, it’s a hard way.
You rightly explained about this ponzi scheme.
I saw sme webinars here in India where the coordinator says that at the time of joining, a participant pays 2% of an investment as security fund & that funds are in million dollar.
When new participant stops investing these funds would be used and the system will restart again.
Common question arises whether such security funds can protect this ponzi scheme?
Ponzi schemes are zero sum. Once withdrawals exceed new investment, kaboom.
Thanks for a reply. Here is a last question in this regard. In a zoom webinar yesterday India coordinator explained that when one invest say $100 he has to reinvest $100 again when time comes for a withdrawal of first $100+ int.
So no one will leave & only because of recommitment system will run years to come. Mathematical part sounds correct but still they can collaps?
I invest $x on the promise of a perpetual 30% monthly ROI.
When I want to withdraw I have to pay $x.
So we have a deficit of whatever money I steal on top of 2*$x.
That’s one investor and one withdrawal.
I’ll say it again, Ponzi schemes are a zero sum game. Once withdrawals exceed new investment it’s over.
Every MMM Global clone has collapsed because of math. MMM BSC will too.
I think everything in life has a lifespan, even some multinational that existed during d time of our forefathers, some of them has gone bankrupt, even life it self has an end.
Come to think of it, There is risk in everything we do , so if mmmbsc last 5 years b4 restart I will give it to them.
Are you looking for a pat on the head for confirming you’re a scammer?
Honestly, some people have no shame.
Mmm BSC is a unique platform..those saying is a scam needs to seek knowledge….how do u define scam??
am surprised cos have wen earning since I joined…if u dont understand it…just rest…not talking trash.
MMM BSC fits the definition of a scam because it’s a Ponzi scheme. You can go look that up if you’re unfamiliar with the model.
Whether you personally are able to steal money from people who join after you has no bearing on MMM BSC being a scam.
Oz…. When you don’t know something or experience a rough knot on a route, you seek for guidance/direction.
No admins in MMMBSC touches participants fund due to the 2% of your potential PH that’s been contributed in the mavro fund.
25% of the 2% goes to “jackpot funds”, another 25% of the 2% goes to “funds of refund” while 10% of the 2% goes to “preparatory funds(to give life to the system in a case of a restart)” and 40% of the 2% goes to “exploratory funds (funds that goes to the brains behind the system as a compensation for a job well done and other administrative expenses).
All the earlier explained algorithm was put in place by the developers to avoid touching participants funds and to adequately sustain the system.
I can categorically tell you that before you begin to make the extra rewards on your contribution, it would take you nothing less than 4 months of participation meaning all the rewards you get within 4 months is more or less like a refund of your capital. I won’t say more than these.
If you need more concrete explanation, reach out to me on telegram (removed) and I’ll gladly put you through the nitty gritty of this system that will clock 1 year of uninterrupted function by June 1st, 2020.
Whether you like it or not, MMMBSC is already making a brand and believe you me, it won’t last less than 7years before restart except if Ethereum or PAXOS Standard packs up before then.
I know MMM BSC is an MMM Global Ponzi clone. When your scam defending runs on the premise “you just don’t understand!”, you’ve already lost.
In addition to that, the fund allocation is controlled by the admin. And just like every MMM Global clone – it’s rigged in favor of said admin.
Be it admin positions or skimming payments, it doesn’t really matter. MMM BSC is still a Ponzi scheme.
Whether it lasts 7 minutes or 7 years, MMM BSC is a Ponzi scheme. And it’s disturbing that you’re OK with stealing money from people.
@Kays – if you don’t learn from history, you’re bound to repeat it.
MMM and its offshoots and legacy has been the longest running, most rebooted, most bankruptcies, AND MOST SUICIDES of any Ponzi scheme I’ve ever studied, historically.
You’re either stupid, or you’re a piece of shit.
Just stop!!!!