Multiple TradeX Review: Latest scheme in Ponzi template factory
Multiple TradeX provides no information on their website about who owns or runs the business.
The “about us” section on Multiple TradeX’s website references “iprofit247.com”, which appears to be a clone site.
Multiple TradeX claims to be “registered” in the US, but only provides a UK incorporation number for Minefield LTD.
Minefield LTD was incorporated in 2009. The company’s incorporation was dissolved as of January this year.
Note that UK incorporation is dirt cheap and for the most part unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
A “certificate” link on the Multiple TradeX website displays a Hong Kong incorporation document for “Cryptocom Limited”.
Considering the Multiple TradeX and iProfit 24/7 website domain were privately registered in April and February this year, it is unclear whether they have anything to do with Minefield LTD or Cryptocom Limited.
Given the fraudulent representation Multiple TradeX is incorporated in the US, I’m not inclined to give the company the benefit of the doubt.
Offered languages on Multiple TradeX’s website include English, Russian, Chinese and Vietnamese.
Given the high percentage of scams that originate out of Russia, China and Vietnam, who ever is running Multiple TradeX is likely based out of one or more of these countries.
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.
Multiple TradeX’s Products
Multiple TradeX has no retailable products or services, with affiliates only able to market Multiple TradeX affiliate membership itself.
Multiple TradeX’s Compensation Plan
Multiple TradeX affiliates invest bitcoin on the promise of advertised returns:
- invest 0.03 BTC or more and receive a 10% daily ROI
- invest 0.5 BTC or more and receive a 12% daily ROI
- invest 1 BTC or more and receive a 15% daily ROI
Returns are paid out perpetually, or “lifetime income” as described on Multiple TradeX’s website.
Multiple TradeX pays referral commissions on invested funds down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 10%
- level 3 – 20%
Note that 8%, 2% and 1% referral commission rates are also quoted on Multiple TradeX’s website.
Not sure which is accurate so I’m providing both sets of rates for reference.
Joining Multiple TradeX
Multiple TradeX affiliate membership is free.
Free affiliates can earn referral commissions, however full participation in the attached income opportunity requires a minimum 0.03 BTC investment.
Multiple TradeX claims to generate external revenue via “asset management” through the “binary options, forex and bitcoin market(s)”.
No evidence of any trading activity tied to Multiple TradeX is provided. Nor is there any other verifiable source of external return revenue being generated.
Furthermore, Multiple TradeX’s business model fails the Ponzi logic test.
If anyone was able to legitimately generate consistent 15% daily returns, with even a tiny initial capital amount they’d soon have a fortune.
As it stands the only verifiable source of revenue entering Multiple TradeX is new investment.
Using new investment to pay existing affiliate daily returns makes Multiple TradeX a Ponzi scheme.
Referral commissions on invested funds also adds an additional pyramid layer to the scheme.
As with all MLM Ponzi schemes, when affiliate recruitment inevitably slows down so too will new investment.
This will starve Multiple TradeX of ROI revenue, eventually prompting a collapse.
Considering iProfit 24/7 and Multiple TradeX are clones of each other, the same holds true for both opportunities.
One last thing I want to point out is a copy check I did on some marketing text that appears on Multiple TradeX’s website.
Our team has made every effort for your money not only to bring significant income
A Google search for this phrase returns results on multiple websites, all of which appear to be fraudulent investment schemes.
Sites that contain the phrase include Coin Trade Mine, MintoBits, Coin-Hash, Logitech Pro, Bitcoin Miners LTD, Crypto Share, Hourly Bitcoin Investment, Scypto Limited, Trade Optex, Gold Coin Xchange, Forex Heaven and FX Coin Baze.
It seems that whoever is behind Multiple TradeX and iProfit 24/7 has built up quite the Ponzi empire over the past few years (or tried to).
One of the websites, Coin Trade Mine, seems to have been left in the default script configuration.
This reveals the following “support” message:
hyiptemplates.top Ltd. will provide you 24*7 online support.
You can contact our valuable staff at any time in our live chat support. Mail us at any time.
“HYIP” stands for “high yield investment program” and is scam-code for Ponzi scheme.
No idea if the scammers providing Ponzi templates are running all these website or if they’re client accounts.
Regardless, at the end of the day it doesn’t really matter. The second you hand over your money through any of these websites it’s gone.