Qwidex fails to provide verifiable ownership or executive information on its website.

Qwidex does provide a list of executives, however none of them exist outside of its own marketing. They also appear to be represented by either actors or AI-generated avatars.

Qwidex’s founder and CEO, “Chase Coleman” is played by an actual person – albeit an actor with a Russian accent. This makes him a prime Boris CEO candidate.

Coleman’s FaceBook profile was created in October 2024. As part of the deception, a 2020 entry pretending Coleman launched Qwidex was retroactively added.

This is denoted by the clock icon on the manipulated post:

In an attempt to appear legitimate, Qwidex represents it is based out of New South Wales, Australia.

The provided address belongs to virtual office retailer Servcorp. Beyond registering Qwidex Pty Ltd as a shell company with the Australian Services and Investment Commission (ASIC), it is unlikely Qwidex has any physical ties to Australia.

ASIC are known for non-timely regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

Tying in with “Chase Coleman” having a Russian accent, Boris CEO scams are typically the work of eastern European scammers (Russia and Ukraine).

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.

Qwidex’s Products

Qwidex has no retailable products or services.

Affiliates are only able to market Qwidex affiliate membership itself.

Qwidex’s Compensation Plan

Qwidex affiliates invest cryptocurrency on the promise of advertised passive returns:

Tether (USDT)

  • Basic – invest 50 to 999 USDT and receive 0.8% to 1% a day for 15 days
  • Basic Pro – invest 1000 to 2499 USDT and receive 1.1% to 1.3% a day for 25 days
  • Qwidex Start – invest 1000 to 9999 USDT and receive 1% a day for 30 days
  • Advanced – invest 2500 to 14,999 USDT and receive 1.35% to 1.55% a day for 35 days
  • Qwidex Advanced – invest 4999 to 19,999 USDT and receive 1.2% a day for 45 days
  • Qwidex Advanced Pro – invest 9999 to 49,999 USDT and receive 1.4% a day for 60 days
  • Advanced Pro – invest 15,000 to 49,999 USDT and receive 1.6% to 1.8% a day for 45 days
  • Qwidex Premium – invest 24,999 to 99,999 USDT and receive 1.7% a day for 75 days
  • Qwidex Premium + – invest 49,999 to 149,999 USDT and receive 1.9% a day for 90 days
  • Premium – invest 50,000 to 149,999 USDT and receive 1.85% to 2.1% a day for 55 days
  • Premium Pro – invest 150,000 to 1,000,000 USDT and receive 2.15% to 2.35% a day for 65 days
  • Expert – invest 250 to 9999 USDT and receive 2.6% to 2.85% a day for 6 months
  • Expert Pro – invest 10,000 to 49,999 USDT and receive 2.85% to 3.1% a day for 1 year
  • Master – invest 50,000 to 99,999 USDT and receive 3% to 3.25% a day for 1 year
  • Master Pro – invest 100,000 to 249,999 USDT and receive 3.15% to 3.4% a day for 2 years
  • Elite – invest 250,000 to 500,000 USDT and receive 3.35% to 3.6% a day for 2 years

Ethereum (ETH)

  • ETH – invest 0.02 to 25 ETH and receive 2.1% to 2.3% a day for 100 days
  • ETH Pro – invest 26 to 95 ETH and receive 2.35% to 2.55% a day for 100 days
  • ETH Exclusive – invest 96 to 475 ETH and receive 2.7% to 2.9% a day for 100 days

Bitcoin (BTC)

  • BTC – invest 0.005 to 1.5 BTC and receive 2.1% to 2.3% a day for 100 days
  • BTC Pro – invest 1.6 to 4.9 BTC and receive 2.35% to 2.55% a day for 100 days
  • BTC Executive – invest 5 to 25 BTC and receive 2.7% to 2.9% a day fro 100 days

Note that some of Qwidex’s investment plans only pay Monday through Friday.

The MLM side of Qwidex pays on recruitment of affiliate investors.

Qwidex Affiliate Ranks

There are twelve affiliate ranks within Qwidex’s compensation plan.

Along with their respective qualification criteria, they are as follows:

  1. Partner – sign up as a Qwidex affiliate
  2. Advisor – convince people to invest $1000 and generate $20,000 in total downline investment volume
  3. Expert – convince people to invest $2500 and generate $50,000 in total downline investment volume
  4. Manager – convince people to invest $7500 and generate $150,000 in total downline investment volume
  5. Executive – convince people to invest $20,000 and generate $450,000 in total downline investment volume
  6. Director – convince people to invest $50,000 and generate $1,000,000 in total downline investment volume
  7. Silver Leader – convince people to invest $75,000 and generate $2,500,000 in total downline investment volume
  8. Gold Leader – convince people to invest $100,000 and generate $5,000,000 in total downline investment volume
  9. Platinum Leader – convince people to invest $250,000 and generate $10,000,000 in total downline investment volume
  10. Diamond Leader – convince people to invest $400,000 and generate $20,000,000 in total downline investment volume
  11. President – convince people to invest $1,000,000 and generate $50,000,000 in total downline investment volume
  12. International President – convince people to invest $2,000,000 and generate $75,000,000 in total downline investment volume

Note that while USD amounts are quoted above, Qwidex only solicits investment in cryptocurrency.

Also note that Qwidex cheats affiliates out of downline investment volume as follows:

  • 100% of invested cryptocurrency is counted across level 1 (personal recruits)
  • 90% of invested cryptocurrency is counted on level 2
  • 75% of invested cryptocurrency is counted on level 3
  • 50% of invested cryptocurrency is counted on level 4
  • 20% of invested cryptocurrency is counted on level 5
  • 10% of invested cryptocurrency is counted on levels 6 to 100

No investment volume is counted from level 101 and deeper.

Referral Commissions

Qwidex pays referral commissions 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.

Qwidex caps payable referral commissions at 100 levels.

Referral commissions are paid as a percentage of cryptocurrency across these one hundred levels based on rank:

  • Partners earn 5% on level 1 (personally recruited affiliates) – 2% on level 2 and 1% on level 3
  • Advisors earn 5% on level 1, 2% on level 2 and 1% on levels 3 and 4
  • Experts earn 6% on level 1, 3% on level 2, 2% on level 3, 1% on level 4 and 0.5% on level 5
  • Managers earn 6% on level 1, 3% on level 2, 2% on level 3, 1% on level 4 and 0.5% on levels 5 and 6
  • Executives earn 6% on level 1, 3% on level 2, 2% on levels 3 and 4 and 0.5% on levels 5 to 7
  • Directors earn 9% on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on level 5 and 0.5% on levels 6 to 8
  • Silver Leaders earn 10% on level 1, 4% on level 2, 3% on level 3, 2% on level 4, 1% on levels 5 and 6 and 0.5% on levels 7 to 9
  • Gold Leaders earn 11% on level 1, 5% on level 2, 3% on levels 3 and 4, 1% on levels 5 to 7 and 0.5% on levels 8 to 10
  • Platinum Leaders earn 12% on level 1, 5% on level 2, 4% on level 3, 3% on level 4, 2% on level 5, 1% on levels 6 to 9 and 0.5% on levels 10 to 12
  • Diamond Leaders earn 13% on level 1, 6% on level 2, 4% on levels 3 and 4, 2% on levels 5 and 6, 1% on levels 7 to 9 and 0.5% on levels 10 to 12
  • Presidents earn 15% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5, 2% on levels 6 and 7, 1% on levels 8 to 11 and 0.5% on levels 12 to 30
  • International Presidents earn 16% on level 1, 8% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 2% on level 7, 1% on levels 8 to 12, 0.75% on levels 13 to 30, 0.5% on levels 31 to 50 and 0.25% on levels 51 to 100

Rank Achievement Bonus

Qwidex rewards affiliates for qualifying at Advisor and higher with the following one-time Rank Achievement Bonuses:

  • qualify at Advisor and receive $300
  • qualify at Expert and receive $700
  • qualify at Manager and receive $2500
  • qualify at Executive and receive $7000
  • qualify at Director and receive $15,000
  • qualify at Silver Leader and receive $40,000
  • qualify at Gold Leader and receive $80,000
  • qualify at Platinum Leader and receive $160,000
  • qualify at Diamond Leader and receive $320,000
  • qualify at President and receive $750,000
  • qualify at International President and receive $1,000,000

Prize Fund

Qwidex takes an undetermined percentage of new investment volume and uses it to reward top recruiters each month.

Joining Qwidex

Qwidex affiliate membership is free.

Full participation in the attached income opportunity requires a minimum 50 USDT, 0.02 ETH or 0.005 BTC investment.

Qwidex Conclusion

Qwidex represents it generates external revenue via automated trading:

Qwidex fails to provide verifiable evidence it pays ROI withdrawals with external revenue of any kind.

Furthermore, Qwidex’s business model fails the Ponzi logic test.

If Qwidex already has a trading bot capable of generating 3.35% a day, surely they’d just run it for themselves? And why offer access to randoms over the internet at no cost?

The answer is of course, like its fictional executives, Qwidex’s purported trading bots don’t exist.

As it stands, the only verifiable source of revenue entering Qwidex is new investment.

Using new investment to pay ROI withdrawals would make Qwidex a Ponzi scheme.

As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.

This will starve Qwidex of ROI revenue, eventually prompting a collapse.

The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.