Social Profimatic Review: 8% daily bitcoin/litecoin Ponzi scheme
Social Profimatic provide no information on their website about who owns or runs the business.
The Social Profitmatic website domain (“socialprofitmatic.com”) was privately registered on February 18th, 2018.
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.
Social Profimatic Products
Social Profimatic has no retailable products or services, with affiliates only able to market Social Profimatic affiliate membership itself.
The Social Profimatic Compensation Plan
Social Profimatic affiliates invest $10 or more in bitcoin and/or litecoin on the promise of an 8% daily ROI.
There doesn’t appear to be an investment limit.
Social Profimatic pay referral commissions on invested funds down two levels of recruitment (unilevel):
- 10% on level 1 (personally recruited affiliates) and
- 3% on level 2
Joining Social Profimatic
Social Profimatic affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the Social Profimatic MLM opportunity requires a minimum $10 investment in bitcoin or litecoin.
Conclusion
Social Profimatic claim to generate external ROI revenue through ‘an extremely profitable secondary business‘.
For the last 8 years, we’ve developed a massive inventory of Social Media assets, profiles, and other social inventory that our system holds or purchases at wholesale that can be sold to business owners on demand.
If the above is to be believed, Social Profimatic’s secondary business is capable of sustaining itself and generating annual returns in excess of 3000% with compounding.
This claim fails the Ponzi logic test.
If Social Profimatic’s anonymous owners actually already had an eight year old “extremely profitable business”, they’d have no reason to be soliciting investment from randoms over the internet.
That leaves new investment as the sole verifiable source of revenue entering Social Profimatic, and from there’s it’s the same old Ponzi story.
Gullible investors hand over cryptocurrency to Social Profimatic’s owners.
ROIs are paid out until new investment dries up or the owners think they’re sitting on enough to do a runner.
Social Profimatic then collapses, with Ponzi math guaranteeing the majority of investors lose money.
Update 19th November 2021 – US authorities have identified the owner of Social Profimatic as Ryan Ginster, a California resident.
Ginster has been arrested and is facing both criminal and civil fraud charges.
Yeah they have already stopped paying on withdrawals as of the 28th stating they are investigating.
Seems like the well of money has run dry.
Members are already looking for their next ponzi to promote.
Just another failed scam pimped by Sindu Thomas.
Lasted 35 days… but then again…. any “lifetime” 8% a day will have a time lasting longer…
Site was down but is back up now.. Milking probably 100,000 a day from unsuspecting folks… what a shame.
Copied the old commission structure of the failed USI-TECH.
What is so dissapointing are the number of people that will not do an ounce of due diligence prior to giving their money away.
Social Profitmatic (or they claim) continues to show an increase of profits of over 100K per day and have not paid a payout in a week now.
There is no doubt that there are a lot of stupid people around who will believe anything written on a ponzi website.
There is definitely something wrong with this website, you are earning more money once you invest in bitcoins production but it not allowing you to withdraw these monies place on the account as an major investment.
There is no contact numbers provided or support teams to reach Social Profimatic for information, in how to withdraw you funds/money, paid in profits.
It surely does appears to be a Ponzi scheme set in place to rob people of their monies and it has referral programs so you can get more people, involved while they are robbing you blind of your hard working dollars.
People nor a days are setting up websites to steal from others, as con-artiest and the USA, government is allowing this within the United States of America, without stiff punishment for fake accounts which is only about making money off the vulnerable looking to have incoming capital to help themselves if out of a job.
There was something wrong with it from the start!!
Why are you in a panic about it now?