Sybbex Review: Boris CEO MLM crypto Ponzi
Sybbex fails to provide verifiable ownership or executive information on its website.
Sybbex’s website domain (“sybbex.com”), was privately registered on September 27th, 2023.
In an attempt to appear legitimate, Sybbex provides a registration certificate for “Sybbex Limited”.
Sybbex Limited was purportedly registered in Ireland on January 9th, 2024.
Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.
Supposedly, Sybbex is headed up by “William Hollan”;
Hollan is pretty obviously played by an actor dressed up in glasses and a wig. This is an emerging trend with Russian Boris CEO Ponzi schemes.
Prior to March 2024, Sybbex marketing videos were narration over stock footage. The actor playing William Hollan made his debut in April 2024.
The actor playing Hollan has a typical eastern-European accent. And here’s the obligatory rented office space marketing video (someone forgot to trim the back of Hollan’s wig, resulting in an amusing mullet).
The rented office space used in Sybbex’s marketing video is TheOffice, located in south Moscow:
Putting all of this together, Sybbex is a typical Russian Boris CEO scheme pretending to be based out of Ireland.
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.
Sybbex’s Products
Sybbex has no retailable products or services.
Affiliates are only able to market Sybbex affiliate membership itself.
Sybbex’s Compensation Plan
Sybbex affiliates invest cryptocurrency on the promise of advertised passive returns:
Tether (USDT)
- invest 50 to 1000 USDT and receive 0.7% to 1.2% a day for 15 days
- invest 1000 to 20,000 USDT and receive 1.1% to 1.5% a day for 25 days
- invest 20,000 to 100,000 USDT and receive 1.4% to 1.8% a day for 36 days
- invest 100,000 to 500,000 USDT and receive 1.7% to 2.2% a day for 48 days
- invest 500,000 to 3,000,000 USDT and receive 2.1% to 2.6% a day for 60 days
- invest 100 to 10,000 USDT and receive 2.4% a day for 180 days
- invest 10,000 to 100,000 USDT and receive 2.8% a day for 240 days
- invest 100,000 to 1,000,000 USDT and receive 3.4% a day for 365 days
Bitcoin (BTC), Ethereum (ETH) & Litecoin (LTC)
- BTC Smart – invest 0.005 to 1 BTC and receive 2% a day for 60 days
- ETH Smart – invest 0.05 to 10 ETH and receive 2% a day for 60 days
- LTC Smart – invest 1 to 1000 LTC and receive 2% a day for 60 days
- BTC Pro – invest 1 to 100 BTC and receive 2.6% a day for 100 days
- ETH Pro – invest 10 to 1000 ETH and receive 2.6% a day for 100 days
- LTC Pro – invest 1000 to 20,000 LTC and receive 2.6% a day for 100 days
The MLM side of Sybbex pays on recruitment of affiliate investors.
Sybbex Affiliate Ranks
There are twelve affiliate ranks within Sybbex’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Consultant – sign up as a Sybbex affiliate
- Chief Consultant – generate 5000 USDT (or equivalent) in downline investment
- Sales Supervisor – generate 30,000 USDT (or equivalent) in downline investment
- Senior Sales Supervisor – generate 100,000 USDT (or equivalent) in downline investment
- Chief Sales Supervisor – generate 500,000 USDT (or equivalent) in downline investment
- Manager – generate 1,000,000 USDT (or equivalent) in downline investment
- Senior Manager – generate 3,000,000 USDT (or equivalent) in downline investment
- Executive Manager – generate 10,000,000 USDT (or equivalent) in downline investment
- Regional Manager – generate 50,000,000 USDT (or equivalent) in downline investment
- Ambassador – generate 100,000,000 USDT (or equivalent) in downline investment
- Blue Diamond Ambassador – generate 500,000,000 USDT (or equivalent) in downline investment
- Black Diamond Ambassador – generate 1,000,000,000 USDT (or equivalent) in downline investment
Referral Commissions
Sybbex 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.
Sybbex pays referral commissions as a percentage of cryptocurrency invested by personally recruited affiliates.
Sybbex sets referral commission rates based on rank:
- Consultants earn 4%
- Chief Consultants earn 6%
- Sales Supervisors earn 8%
- Senior Sales Supervisors earn 10%
- Chief Sales Supervisors earn 12%
- Managers earn 15%
- Senior Managers earn 18%
- Executive Managers earn 21%
- Regional Managers earn 24%
- Ambassadors earn 28%
- Blue Diamond Ambassadors earn 32%
- Black Diamond Ambassadors earn 36%
36% is always paid out on all cryptocurrency invested. This allows higher ranked Sybbex affiliates to earn the difference between their rank and lower-ranked downline affiliates.
E.g. You are an Executive Manager and a Senior Sales Supervisor you recruit earns a referral commission.
Senior Sales Supervisors earn 10% and you at Executive Manager earn 21%. You earn the 11% difference, still leaving 15% to pay out (36% minus your 21% rate paid out).
The system searches upline for a Regional Manager or higher to pay the remaining 15% out. This can be sequential or a lump sum if a Black Diamond Ambassador is found first.
Note that nothing is ever passed upf rom Black Diamond Ambassadors, they always receive the full 36% referral commission rate.
Joining Sybbex
Sybbex affiliate membership is free.
Full participation in the attached income opportunity requires a minimum 50 BTC, 0.005 BTC, 0.05 ETH or 1 LTC investment.
Sybbex Conclusion
Sybbex is a typical Boris CEO Ponzi scheme.
Sybbex represents it generates external revenue via a number of ruses:
No verifiable evidence of Sybbex generating external revenue of any kind is provided. Such evidence, which is a legal requirement, would be audited financial reports filed with regulators.
The reason Sybbex doesn’t provide evidence of external revenue is, like its executives and office in Ireland, it doesn’t exist.
The only verifiable source of revenue entering Sybbex is new investment. Using new investment to pay ROI withdrawals would make Sybbex a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Sybbex of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Enjoyably, the LinkedIn profile of the ‘CEO’ shows a photo of a different bloke who they’ve clearly tried to replicate via the mullet-wig and a beard, and they can’t even spell the surname correctly.
If you have been approached by the aggressive marketing on fb of Sybbex, it is probably through one “Greg Miro”.
Giving him the URL to this review and pointing out that the address on the Dublin registration docs cannot possibly be the HQ featured on the video since nobody decorates a vacant warehouse is well worth the LULZ.
That wig has me dead.
Guess we need to find out who this chuckle head in the wig is otherwise fat boris’s disguise wins.
Nice fake mustache. He looks like the guy from Wiseling for some reason.