Wire8 fails to provide ownership or executive information on its website.

In fact as I write this, Wire8’s website is nothing more an affiliate sign up or sign in form.

Wire8’s website domain (“wire8.com”), was first registered in 2012. The private registration was last updated on October 2nd, 2023.

Through the Wayback Machine we can determine Wire8’s current website went live towards the end of October. This means whoever is running Wire8 purchased the domain on or around October 2nd.

Over on YouTube we have a December 3rd a video a Wired8 marketing video in Filipino:

One name we can definitively tie to Wire8 is Romeo Ganit.

Ganit popped up on BehindMLM’s radar earlier this year through the LedgerBlock Ponzi scheme.

The CEO of LedgerBlock was Paul Sykes, a former employee of Blockworq.

Blockworq was a “Malaysian based Blockchain solutions provider.” Coinciding with LedgerBlock’s May 2023 collapse, today Blockworq’s website is inaccessible.

Nevertheless, in June 2023 Romeo Ganit represented Blockworq at a cryptobro circlejerk held in Malaysia.

I’m not 100% sure on this but I believe Ganit is a Philippine national living in Malaysia.

As of November 2023, SimilarWeb tracked top sources of Wire8 website traffic as Malaysia (70%) and New Zealand (30%).

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.

Wire8’s Products

Wire8 has no retailable products or services.

Affiliates are only able to market Wire8 affiliate membership itself.

Wire8’s Compensation Plan

Wire8 affiliates invest tether (USDT). This is done on the promise of advertised returns:

  • invest 10 to 490 USDT and receive 0.8% a day
  • invest 500 to 1990 USDT and receive 0.9% a day
  • invest 2000 to 4990 USDT and receive 1% a day
  • invest 5000 to 9990 USDT and receive 1.1% a day
  • invest 10,000 or more USDT and receive 1.2% a day

There doesn’t appear to be any limit to Wire8’s investment plans.

The MLM side of Wire8 pays on recruitment of affiliate investors.

Wire8 Affiliate Ranks

There are seven affiliate ranks within Wire8’s compensation plan.

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

  • W0 – sign up as a Wire8 affiliate
  • W1 – recruit three affiliates and generate at least 30,000 USDT in downline investment volume
  • W2 – have two W1 or higher ranked affiliates in two separate recruitment legs
  • W3 – have two W2 or higher ranked affiliates in two separate recruitment legs
  • W4 – have two W3 or higher ranked affiliates in two separate recruitment legs
  • W5 – have two W4 or higher ranked affiliates in two separate recruitment legs
  • W6 – have two W5 or higher ranked affiliates in two separate recruitment legs

Referral Commissions

Wire8 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.

Wire8 caps referral commissions at five unilevel team levels.

How many levels referral commissions are paid out on is determined by rank:

  • W1 to W3 ranked affiliates earn 2% on level 1 (personally recruited affiliates)
  • W4 ranked affiliates earn 2% on levels 1 and 2
  • W5 ranked affiliates earn 2% on levels 1 to 3
  • W6 ranked affiliates earn 2% on levels 1 to 5

Matching Bonus

Wire8 pays a Matching Bonus on returns paid to downline affiliates.

  • W1 ranked affiliates earn a 25% match
  • W2 ranked affiliates earn a 30% match
  • W3 ranked affiliates earn a 35% match
  • W4 ranked affiliates earn a 40% match
  • W5 ranked affiliates earn a 45% match
  • W6 ranked affiliates earn a 50% match

Note it’s unclear whether the Matching Bonus is paid on all downline affiliates or only personally recruited affiliates.

Withdrawal Bonus

Wire8 charges affiliates a 5% withdrawal fee.

This fee is used to pay the Withdrawal Bonus down twenty unilevel team levels.

Specifics of the Withdrawal Bonus are not provided.

Joining Wire8

Wire8 affiliate membership is free.

Full participation in the attached income opportunity requires a minimum 10 USDT investment.

Wire8 Conclusion

Wire8 appears to be another Ponzi scheme from the same Blockworq scammers that ran LedgerBlock.

LedgerBlock pitched daily returns of 0.7% to 3%. Wire8 is more of the same at 0.8% to 1.2% a day.

The ruse behind LedgerBlock was some “metaverse staking” nonsense. Wire8 doesn’t even bother to present a ruse on its website.

Outside of its fraudulent investment scheme, the rest of Wire8’s compensation plan is a pyramid scheme (no retail sales).

LedgerTech’s inevitable collapse resulted in widespread consumer losses. The same will happen again when Wire8 also inevitably collapses.

 

Update 23rd September 2024 – Wire8 appears to have collapsed or be in the process of collapsing. Cited marketing videos on YouTube featuring Romeo Ganit are being deleted.