Vixes Review: Daily ROI cryptocurrency mining Ponzi
Vixes provides no information on its website about who owns or runs the company.
Vixes’ website domain (“vixes.biz”) was privately registered on August 6th, 2019.
In an attempt to appear legitimate, Vixes provides an address in New South Wales, Australia on its website.
Further research reveals this address is shared by Servcorp, a virtual office provider.
At the time of publication Alexa cites Brazil (30%), Venezuela (11%) and Egypt (6%) as the top three sources of traffic to Vixes’ website.
It is highly likely that whoever is running the company is based out of one of these three countries.
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.
Vixes has no retailable products or services, with affiliates only able to market Vixes affiliate membership itself.
Vixes’ Compensation Plan
Vixes affiliates invest cryptocurrency on the promise of an advertised perpetual 1% to 3% daily ROI.
Cryptocurrencies Vixes solicits investment in include bitcoin, bitcoin cash, bitcoin SV, digibyte, dogecoin, ethereum, ethereum classic, litecoin, syscoin and verge.
The more a Vixes affiliate invests the higher their calculated daily ROI rate.
Vixes pays referral commissions on invested funds down three levels of recruitment (unilevel):
- 7% on level 1 (personally recruited affiliates
- 2% on level 2
- 1% on level 3
Vixes affiliate membership is free.
Full participation in the attached income opportunity however requires investment in bitcoin, bitcoin cash, bitcoin SV, digibyte, dogecoin, ethereum, ethereum classic, litecoin, syscoin or verge.
Vixes claims to be a “world leader in the cryptocurrency mining market”, the implication being it generates external revenue via cryptocurrency mining.
To that end Vixes claims to have an “Australian mining farm”, at the previously disclosed virtual office address in Sydney, NSW.
Needless to say Vixes doesn’t have a mining farm in the middle of Sydney. Nor is there any evidence Vixes has an operational mining farm anywhere in the world.
And even if they did, that’s not confirmation Vixes is actually using external revenue to pay daily returns.
In order to operate legally, Vixes would need to register its passive investment opportunity with securities regulators.
We can start with Brazil, Venezuela and Egypt, none of which Vixes is registered to offer securities in.
This means that irrespective of the company’s claimed mining operations, Vixes is operating illegally in its top three markets.
As it stands the only verifiable source of revenue entering Vixes is new investment.
Using new investment to pay affiliates a daily return makes Vixes a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dies out so too will new investment.
This will see Vixes unable to pay withdrawal requests (returns are backoffice monopoly money), eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.