Ultron Review: Failed Givvo ecommerce platform Ponzi reboot
Ultron is being launched as part of Givvo. The roll-out is a bit strange.
Ultron is being launched as a stand-alone opportunity, originally hosted off Givvo’s website:
That subdomain was working up until recently. It’s now been disabled.
As far as I can tell, Givvo currently doesn’t have a standalone web presence. Nonetheless we know it’s tied to Givvo.
Givvo promises to “change the fact that 99% of people never win at life?”
GIVVO’s main idea came from a simple wish; how to fulfill everyone’s deepest desires and at the same time make the world better.
Givvo presents itself as a donations platform for undisclosed “humanitarian organizations”.
Through the “Donations Campaign,” GIVVO raises money for one of the partnered licensed Humanitarian Organizations.
When the campaign is finished, we will present how this organization used donated money.
Givvo is essentially an ecommerce platform with a donation backend. You buy products on their platform and receive “donation points”. Donation points are put into pre-organized campaigns.
I believe all Givvo are doing is funneling what would otherwise be customer cashback into donations.
Attached to Givvo is a referral income opportunity:
Alexa currently ranks traffic to Givvo’s website at 2.8 million. This isn’t much.
As to who’s running Givvo, and by extension Ultron, no company ownership details are provided.
In the “campaign rules” section of Givvo’s website, it represents it is being run through the UK shell company Prizer22 LTD.
An MLM company operating or claiming to operate out of the UK is a red flag.
UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.
As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.
For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.
Givvo’s official FaceBook page is managed from Slovakia and Slovenia. This is in line with the company’s ecommerce platform operating in euros.
In September 2021 Givvo uploaded an event video to their YouTube channel:
The guy in the video is Matej Cifra, a YouTuber from Slovakia. Cifra runs the YouTube channel Sajfa.
I wasn’t able to confirm how involved in Cifra is in Givvo or Ultron.
Cifra led me to someone I can confirm is heavily involved in Givvo, Tobias Sukenik.
In 2019 Sukenik co-founded TBF International, a CBD MLM company. In 2020 TBF International was sold off to Kannaway.
In the BusinessForHome article linked above, TBF International’s other co-founders are identified as Michal Kyselica and Michal Prazenica
Kyselica seems to have moved on…
Update 25th March 2022 – Michal Kyselica has been in touch to confirm he has nothing to do with Ultron or Givvo. /end update
…but on LinkedIn, Michal Prazenica identifies himself as CEO of Givvo.
In 2018, prior to co-founding TBF International, a BehindMLM reader tied Sukenik and Prazenica to the BeReal Estate Ponzi scheme.
I realized here that I could have saved myself a bit of time as another reader, (comment #27), had already identified Sukenik and Prazenica to Givvo.
That was in October 2021. Details of Givvo’s business model weren’t available so I wasn’t able to publish a review.
Yet another reader recently reached out to me requesting a Givvo/Ultron review. This time I was able to oblige.
According to their respective social media profiles, both Tobias Sukenik and Michal Prazenica are based out of Dubai.
Due to limited extradition treaties and non-existent regulation of MLM related securities fraud, Dubai provides a safe-haven for scammers.
BehindMLM considers Dubai to be the MLM scam capital of the world. Any MLM company that is based out of Dubai, or has executives based there, raises automatic red flags.
Givvo and Ultron’s business operations appear to be spread between Dubai, Slovakia and Slovenia.
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.
Ultron has no retailable products or services.
Affiliates are only able to market Ultron affiliate membership itself.
Ultron’s Compensation Plan
Ultron affiliates invest in ULTRON tokens on the promise of advertised returns.
Ultron tokens are sold to affiliates for 1 cent each in three packages:
- €500 EUR
- €1500 EUR
- €5000 EUR
All packages come with 20% bonus ULTRON tokens.
Once acquired, ULTRON tokens are parked with the company on the promise of advertised returns.
The ROI paid on Ultron token investment is determined by how long an affiliate invests their tokens for:
- 0.2% a day for the first year
- 0.1% a day for the second year
- 0.05% a day for the third year
- 0.025% a day for the fourth year
- 0.012% a day for the fifth year
The MLM side of Ultron pays commissions on tokens purchased by recruited affiliates.
Ultron Affiliate Ranks
There are fifteen affiliate ranks within Ultron’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Partner – sign up and invest in Ultron tokens
- Active Partner – generate €100 EUR in accumulated weaker binary team side volume
- Supervisor – generate 2500 EUR in accumulated weaker binary team side volume
- Master – generate 5000 EUR in accumulated weaker binary team side volume
- Team Manager – generate 15,000 EUR in accumulated weaker binary team side volume
- President Manager – generate 40,000 EUR in accumulated weaker binary team side volume
- Regional Manager – generate 75,000 EUR in accumulated weaker binary team side volume
- Executive Director – generate 200,000 EUR in accumulated weaker binary team side volume
- Diamond Director – generate 200,000 EUR in accumulated weaker binary team side volume
- Double Diamond Director – generate 1,000,000 EUR in accumulated weaker binary team side volume
- Vice President – generate 2,500,000 EUR in accumulated weaker binary team side volume
- President – generate 6,000,000 EUR in accumulated weaker binary team side volume
- Global President – generate 15,000,000 EUR in accumulated weaker binary team side volume
- Star President – generate 30,000,000 EUR in accumulated weaker binary team side volume
- Legend – generate 50,000,000 EUR in accumulated weaker binary team side volume
Ultron affiliates earn a 10% commission on token packages purchased by personally recruited affiliates.
Ultron pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each week Ultron tallies up new investment volume on both sides of the binary team.
Affiliates are paid 10% of investment volume generated on their weaker binary team side.
Note that residual commissions are capped weekly based on rank:
- Partners can earn up to €1000 EUR
- Active Partners through Masters can earn up to €3000 EUR
- Team Managers can earn up to €5000 EUR
- President Managers can earn up to €7500 EUR
- Regional Managers can earn up to €10,000 EUR
- Executive Directors can earn up to €12,000 EUR
- Diamond Directors can earn up to €20,000 EUR
- Double Diamond Directors can earn up to €30,000 EUR
- Vice Presidents can earn up to €40,000 EUR
- Presidents can earn up to €50,000 EUR
- Global Presidents can earn up to €75,000 EUR
- Star Presidents can earn up to €175,000 EUR
- Legends can earn up to €350,000 EUR
After volume is paid out on, it is matched against the stronger binary team side and flushed.
Any leftover volume carries over into the following week.
Ultron pays a Matching Bonus 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.
Ultron caps the Matching Bonus at seven unilevel team levels.
The Matching Bonus is paid out as a percentage of residual commissions earned by unilevel team affiliates.
How many levels an Ultron affiliate earns teh Matching Bonus on is determined by rank:
- Masters and Team Managers earn a 10% match on level 1 (personally recruited affiliates)
- Project Managers earn a 10% match on levels 1 and 2
- Regional Managers earn a 10% match on levels 1 to 3
- Executive Directors earn a 10% match on levels 1 to 4
- Diamond Directors earn a 10% match on levels 1 to 5
- Double Diamond Directors earn a 10% match on levels 1 to 6
- Vice Presidents and higher earn a 10% match on levels 1 to 7
If an Ultron affiliate recruits five affiliates who purchase a package within 30 days of signing up, they receive a refund on their own initial package purchase.
Note that packages purchased by affiliates must be the same or higher than whichever one the qualifying affiliate purchased.
Leader Bonus Pools
Ultron takes 5% of company-wide revenue and places it into a Leaders Bonus Pool.
The Leaders Bonus Pool is split into four equal smaller pools.
Ultron affiliates qualify for a share in the smaller Leader Bonus Pools based on rank:
- Managers receive a share in a Manager Leader Bonus Pool
- Directors receive a share in a Director Leader Bonus Pool
- Presidents receive a share in a President Leader Bonus Pool
- Legends receive a share in a Legend Leader Bonus Pool
Rank Achievement Bonus
Ultron rewards affiliates who qualify at Team Manager and higher with the following one-time Rank Achievement Bonuses:
- qualify at Team Manager and receive €500 EUR
- qualify at President Manager and receive €1200 EUR
- qualify at Regional Manager and receive €2500 EUR
- qualify at Executive Director and receive €6000 EUR
- qualify at Diamond Director and receive €15,000 EUR
- qualify at Double Diamond Director and receive €30,000 EUR
- qualify at Vice President and receive €75,000 EUR
- qualify at President and receive €200,000 EUR
- qualify at Global President and receive €500,000 EUR
- qualify at Star President and receive €1,000,000 EUR
- qualify at Legend and receive €2,500,000 EUR
Ultron affiliate membership is tied to the purchase of a €500, €1500 or €5000 EUR ultron token package.
The more an affiliate spends on their package the higher their income potential.
A Givvo marketing video from last October reveals it had its own cryptocurrency component:
Ultron sees Givvo go full crypto bro with pyramid recruitment and securities fraud.
Somewhat not surprisingly, Ultron’s crypto bro aspirations don’t exist yet.
What is ready to go is investment fraud. Ultron affiliates sign up, invest in Ultron tokens, park those tokens with the company (staking), and collect a passive return.
This is a securities offering and requires registration with financial regulators.
Given Ultron has no external source of revenue (the ecommerce platform flopped so that’s out), returns on invested Ultron are thus paid with subsequently invested funds.
Ultron will no doubt come up with some pseudo-compliance to explain this away. Without audited financial reports filed with regulators however, this is meaningless.
The MLM side of Ultron pays on recruitment of affiliates who also invest. Given there’s no retail within Ultron’s MLM opportunity, this equates to pyramid recruitment.
Two tiers of fraud, a UK shell company for banking and let’s not forget Givvo is being run by scammers hiding in Dubai.
Good luck getting your money back from them when Ultron inevitably collapses.
Looking towards the inevitable exit-scam, Ultron’s marketing material mentions it’s an “ethereum virtual machine compatible protocol”.
I believe that’s just a roundabout way of stating ultron is an ERC20 shit token. These take five minutes to set up at little to no cost.
For reference, the domain “ultron.foundation” was privately registered on February 9th. This appears to be when Givvo’s Ultron reboot was put into motion.
At time of publication ultron doesn’t appear to be publicly tradeable. If that stays the same, Ultron’s exit-scam will see Tobias Sukenik and Michal Prazenica exit stage left.
This will leave Ultron affiliates bagholding tokens they can’t do anything with.
If ultron is eventually dumped on dodgy exchanges, admins will run off with invested funds leaving affiliates in a sell off race to the bottom.
Whichever route Ultron’s admins choose, math guarantees the majority of participants in Ponzi schemes lose money.