TrageTech fails to provide ownership or executive information on its website.

TrageTech’s website domain (“tragetech.com”), was privately registered on January 15th, 2024.

In an attempt to appear legitimate, TrageTech claims it is registered with the SEC:

“TrageTech” isn’t registered with the SEC but “Trage Technologies Ltd” was registered in February 2024.

Trage Technologies LTD is a Marshall Islands shell company with one Director; “Graeme Gary Hearn” of “Trust Company Complex”.

Trust Company Complex appears to be a “shell company in a box” type service operated by persons unknown.

The entity appears routinely tied to dodgy shell companies.fraud. At least one Trust Company Complex shell company is listed on the Office of Foreign Assets Control’s sanctions list.

Given Marshall Islands is a tax haven with non-existent regulation of MLM related fraud, Trust Company Complex’s Graeme Gary Hearn likely doesn’t exist.

Supporting this is TrageTech naming “Michael Hearn” as CEO in their marketing materials:

This name is unlikely to be a coincidence. Michael Hearn, aka Mike Hearn, is a relatively well-known former Google and bitcoin dev.

TrageTech’s Michael Hearn is played by UK national Daniel Poole:

Poole is based out of Thailand and is the Entertainment & Activities Consultant at X2 Logistics Networks.

Note Poole represents himself on social media with a profile photo that appears to be well over a decade old.

Having established TrageTech’s CEO doesn’t exist it follows that, beyond registering a shell company to register with the SEC, TrageTech has no actual physical ties to the Marshall Islands.

To date TrageTech has made two SEC filings. We’ll go over these in the conclusion of this review (spoiler alert: they’re meaningless).

Boris CEO schemes, wherein an actor is hired to play an executive, are typically the work of Russian scammers. This isn’t definitive but does potentially tie in to Thailand’s growing Russian population.

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.

TrageTech’s Products

TrageTech has no retailable products or services.

Affiliates are only able to market TrageTech affiliate membership.

TrageTech’s Compensation Plan

TrageTech affiliates invest tether (USDT). This is done on the promise of passive returns:

  • P10 – invest 100 USDT and receive 4% a month
  • P20 – invest 200 USDT and receive 8% a month
  • T5 – invest 500 USDT and receive 12% a month
  • T10 – invest 1000 USDT and receive 20% a month
  • T50 – invest 5000 USDT and receive 28% a month
  • T100 – invest 10,000 USDT and receive 36% a month

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

TrageTech Affiliate Ranks

There are six affiliate ranks within TrageTech’s compensation plan.

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

  1. Executive – invest 500 USDT and generate 1000 USDT in personally recruited affiliate investment volume
  2. Junior Manager – invest 1000 USDT, have three Executive or higher ranked affiliates in your downline and generate 3000 USDT in personally recruited affiliate investment volume
  3. Senior Manager – invest 5000 USDT, have three Junior Manager or higher ranked affiliates in your downline and generate 6000 USDT in personally recruited affiliate investment volume
  4. Director – invest 10,000 USDT, have three Senior Manager or higher ranked affiliates in your downline and generate 30,000 USDT in personally recruited affiliate investment volume
  5. Divisional Director – invest 25,000 USDT, have three Director or higher ranked affiliates in your downline and generate 60,000 USDT in personally recruited affiliate investment volume
  6. Regional Director – invst 50,000 USDT, have three Divisional Director or higher ranked affiliates in your downline and generate 150,000 USDT in personally recruited affiliate investment volume

ROI Match

TrageTech pays a ROI Match 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.

TrageTech caps payable unilevel team levels at ten.

The ROI Match is paid as a percentage of returns paid out across these ten levels based on how much a TrageTech affiliate has invested:

  • P10 tier affiliates earn a 12% ROI Match on level 1 (personally recruited affiliates)
  • P20 tier affiliates earn a 12% ROI Match on level 1 and 8% on level 2
  • T5 tier affiliates earn a 12% ROI Match on level 1, 8% on level 2, 5% on level 3 and 2% on level 4
  • T10 tier affiliates earn a 12% ROI Match on level 1, 8% on level 2, 5% on level 3 and 2% on levels 4 to 6
  • T50 tier affiliates earn a 12% ROI Match on level 1, 8% on level 2, 5% on level 3, 2% on levels 4 to 6 and 1% on levels 7 and 8
  • T100 tier affiliates earn a 12% ROI Match on level 1, 8% on level 2, 5% on level 3, 2% on levels 4 to 6 and 1% on levels 7 to 10

Rank ROI Match

TrageTech pays an additional rank-based ROI Match on 10% of total downline investment volume.

  • Executives receive a 1% Rank ROI Match
  • Junior Managers receive a 2.5% Rank ROI Match
  • Senior Managers receive a 5% Rank ROI Match
  • Directors receive a 10% Rank ROI Match
  • Divisional Directors receive a 15% Rank ROI Match
  • Regional Directors receive a 20% Rank ROI Match

Joining TrageTech

TrageTech affiliate membership is 29.90 USDT annually.

Full participation in the attached income opportunity requires an additional minimum 100 USDT investment.

TrageTech Conclusion

As stated in the introduction of this review, TrageTech appears to be registered with the SEC as Trage Technologies LTD.

In order to legally solicit investment from consumers in the US and elsewhere, TrageTech is required to register its passive returns investment scheme with the SEC as a securities offering. Trage Technologies is then also required to file periodic audited financial reports.

To date Trage Technologies LTD has made two filings with the SEC:

  • a Form D Notice of Exempt Offering of Securities on February 22nd, 2024
  • a Form D Amendment on June 4th, 2024

TrageTech’s February 2024 Form D filing claims a filing exemption based on Rule 506(c), on a proposed equity based securities offering.

This has nothing to do with TrageTech’s “Arbtech” trading bot passive returns offered through its MLM opportunity.

Furthermore, a Rule 506(c) exemption would only permit TrageTech to offer a securities offering to “accredited investors”. TrageTech is soliciting investment from anyone dumb enough to send them cryptocurrency to steal.

TrageTech’s June 2024 amendment filing affirms the company does not expect its securities offering to “last more than one year”. It also reaffirms no offering has been made to unaccredited investors.

With the rate of which MLM crypto Ponzis have been collapsing of late, the first declaration is not surprising. TrageTech’s second amendment declaration is demonstrably false.

In conclusion; TrageTech is registered with the SEC through a dodgy Marshall Islands shell company created with bogus information.

The two SEC filings TrageTech has made are irrelevant to its “Arbtech” trading bot investment scheme, therefore rendering them meaningless.

 

Update 11th October 2024 – The Texas State Securities Board has issued TrageTech with an emergency cease and desist order.

The order confirms TrageTech’s representations about being SEC registered and complying with US securities law are bogus. /end update

 

In case it wasn’t obvious, the only reason the scammers running TrageTech set up the Marshall Islands shell company and registered with the SEC was for marketing purposes.

Whether they can nail the scammers behind TrageTech remains to be seen but scammers registering with the SEC should at least catch the regulator’s attention.

As of June 2024, SimilarWeb ranked the US as the second largest source of TrageTech website traffic. The US comes in at 40%, following Spain at 56%.

TrageTech activity in Vietnam, spearheaded by OneCoin Ponzi promoter Simon Le, plummeted 96% month on month.

Somebody also seems to be trying to get TrageTech off the ground in Portugal (2%).

TrageTech failing to disclose its “Arbtech” securities offering to the SEC is enough to confirm no actual trading revenue is being used to pay investor withdrawals.

TrageTech is your typical trading bot MLM crypto Ponzi, with added Boris CEO and SEC registration elements.

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

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

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

 

Update 30th October 2024 – TrageTech has collapsed. As at the time of this update TrageTech’s website is no longer accessible.