VBit Limited Review: A rug pull insured Ponzi scheme?
VBit Limited fails to provide verifiable ownership or executive information on its website.
The company is purportedly headed up by fictional identities, represented by stolen profile photos:
VBit Limited’s website domain (“vbit.limited”), was privately registered on June 16th, 2023.
In an attempt to appear legitimate, VBit Limited provides UK shell company details for “VBit Limited”.
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.
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.
VBit Limited’s Products
VBit Limited has no retailable products or services.
Affiliates are only able to market VBit Limited affiliate membership itself.
VBit Limited’s Compensation Plan
VBit Limited affiliates invest USD equivalents in cryptocurrency.
This is done on the promise of advertised returns:
- Crypto Growth Accelerator Plan – invest $100 or more and receive 3% a day for 30 days
- Diversified Crypto Profits Plan – invest $1500 or more and receive 5% a day for 30 days
- Smart Crypto Portfolio Strategy – invest $2500 or more and receive 200% after 15 days
- Dynamic Crypto Investment Fund – invest $5000 or more and receive 300% after 5 days
VBit Limited pays a referral commissions on invested cryptocurrency down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 1%
Joining VBit Limited
VBit Limited affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $100 investment.
VBit Limited solicits investment in various cryptocurrencies.
VBit Limited
VBit Limited represents it generates returns via various cryptocurrency themed ruses:
Designed for investors seeking potentially higher returns by capitalizing on the growth potential of carefully selected cryptocurrencies.
Our fund managers actively monitor market conditions and adjust the portfolio’s composition to capitalize on emerging trends and opportunities in the cryptocurrency space.
Typical vague nonsense scammers often come up with.
Putting aside its laughably vague investment ruses, VBit Limited’s business model also fails the Ponzi logic test.
If VBit Limited is already able to consistently and legitimately generate 300% every 15 days, what do they need your money for?
Perhaps the most amusing aspect of VBit Limited is its purported “rug pull insurance”:
AIA Group Limited is a legitimate insurance company but, like the rest of VBit Limited, the so-called “rug pull insurance” is baloney.
Insurance companies aren’t insuring companies promising 300% in 15 days through securities fraud.
VBit Limited not being registered to offer securities in any jurisdiction is of course yet another red flag.
As it stands, the only verifiable source of revenue entering VBit Limited is new investment.
Using new investment to pay affiliate withdrawals would make VBit Limited a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve VBit Limited of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
“registration with the FCA is meaningless.” Vbit are not registered or authorised by the FCA so not sure why you make this statement which actually makes it sound like it is.
The full sentence is:
That doesn’t imply VBit Limited is registered with the FCA.
Is this the same VBit that stole everyone’s money in the U.S.?