Ilgamos CEO Geza Kapitany has informed investors that their ilcoin wallets have been frozen.

The stated reason for the freeze is an attempted hostile takeover by the ilcoin developers. [Continue reading…]

Xion Cash provides no information on its website about who owns or runs the business.

A few months ago the Omega Group Ponzi scheme collapsed. This prompted CEO Bartosz Nafalski to claim he was a victim.

How much money Nafalski cheated Omega Group’s near 100,000 investors has never been disclosed.

Evidently it wasn’t enough though, prompting Nafalski to return with Xion Cash:

Perhaps appointing himself CEO again would be too obvious, so Nafalski is Xion Cash’s “chief consultant”.

He’s joined by Alexander Saveliev, which goes a long way to explain the use of Russian in Xion Cash’s marketing material.

At the time of publication Alexa ranks Ukraine as the only notable source of traffic to Xion Cash’s website (57%).

Xion Cash’s official Facebook page is also primarily managed from Ukraine.

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. [Continue reading…]

ForexG provides no information on its website about who owns or runs the company.

ForexG’s website domain (“forexg.com”) was first registered in 2004.

The domain registration was last updated on June 6th, 2020. The current owner is listed as Michael DM, through a fake address in NSW, Australia.

Michael DM doesn’t appear to exist outside of ForexG’s domain registration. Given this and the bogus address, it’s assumed Micael DM doesn’t actually exist.

Through the Wayback Machine I was able to verify that ForexG’s current website went live on or around July 2020.

Prior to that the domain was parked on a diagnostic screen. This strongly suggests the domain was sold to ForexG’s owners in June 2020, the time of the registration update.

Despite only coming into existence a few months ago, ForexG falsely claims it “was established in 2004”.

As far as I can tell this claim is solely based on the initial domain registration, which we’ve addressed above.

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. [Continue reading…]

My Blockchain Life fails to provide any information about who owns or runs the company on their website.

In fact as I write this, My Blockchain Life’s website is nothing more than an affiliate login page with some testimonials.

No corporate address is provided, although My Blockchain Life does state it’s “operating worldwide (and) located in the USA”.

My Blockchain Life’s website domain (“myblockchainlife.com”) was privately registered on January 10th, 2020.

Further research reveals marketing videos on My Blockchain Life’s official Facebook page.

These videos are hosted by Glen Williams, who identifies himself as a co-founder and CEO of My Blockchain Life.

Williams’ LinkedIn profile places him in Ottawa, Canada. Whether My Blockchain has any actual physical presence in the US is unclear.

William’s LinkedIn profile reveals he was promoting ACN from 2007 to January 2020.

Williams foray into MLM cryptocurrency appears to date back to 2017 with BitConnect.

In response to BehindMLM reporting on US regulators cracking down on BitConnect, a reader going by Glen Williams suggested we had an “agenda”.

BitConnect collapsed a week later, causing over $2 billion dollars in losses.

Williams abandoned the Twitter account he used to promote BitConnect a month later.

Whether My Blockchain Life’s other co-founders were also BitConnect promoters is unknown.

Read on for a full review of My Blockchain Life’s MLM opportunity. [Continue reading…]

I’d initially intended to cover NewAge Beverages’ acquisition of Ariix after reviewing Zennoa.

Zennoa came up for review today, only for me to discover I’d previously reviewed the company.

Last month Ariix announced it was “partnering” with NewAge Beverages Corporation.

A press-release however reveals NewAge has wholly acquired Ariix, including Ariix’s own acquisitions over the last few years. [Continue reading…]

Up until recently, Mirror Trading International claimed FX Choice was its broker.

Using FX Choice’s platform, Mirror Trading International claimed to trade using AI bots.

Now a representative from FX Choice has revealed Mirror Trading International was booted from their platform back in June.

Oh and surprise surprise, trading was virtually non-existent. [Continue reading…]

FX Value Trade provides no information on its website about who owns or runs the company.

FX Value Trade’s website domain (“fxvaluetrade.com”) was privately registered on May 8th, 2020.

In an attempt to appear legitimate, FX Value Trade provides a corporate address in California on its website.

Research reveals this address is shared with multiple trading companies. This suggests whoever is running FX Value Trade has attempted to launch multiple businesses in the same niche.

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. [Continue reading…]

CoffeeGems operates in the coffee MLM niche. The company claims it was founded by “two dreamers, Abelardo and Antônia Santos”.

Supposedly the Santos’ are based out of Brazil and have “years of experience in the coffee production industry”.

If you run a search for either name however, nothing comes up in relation to coffee outside of CoffeeGems.

Seeing as the Santos’ appear on CoffeeGems’ website in name only, this puts a question mark on whether they actually exist.

CoffeeGems’ website domain (“coffeegems.com”) was first registered in November 2015.

The private domain registration was last updated on October 12th, 2019.

I was able to verify through the Wayback Machine that prior to October 2019, CoffeeGems’ domain was for sale.

This confirms that the current owner(s) took possession of the domain in October 2019.

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. [Continue reading…]

RECB stands for “Real Estate Community Bank”. No information about who owns RECB is provided on its website.

RECB’s website domain (“recbank.io”) was privately registered on April 3rd, 2020.

It’s worth noting the RECB’s official Vimeo presentation is in Spanish. At the very least this suggests whoever is running RECB is targeting a Spanish audience.

In an attempt to appear legitimate, RECB provides a corporate address in London, UK on its website.

Research reveals the street address provided is that of the fictional detective Sherlock Holmes.

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. [Continue reading…]

Nimbus Platform operates in the cryptocurrency MLM niche. Heading up the company is CEO Andrea Zanon.

Zanon’s LinkedIn profile is linked to from Nimbus Platform’s website. Curiously, Nimbus Platform is not featured on Zanon’s profile.

In an official Nimbus Platform marketing video featuring Zanon, he claims to be a “global financial executive with twenty years experience”.

Zanon goes on to state he is from Italy, however he typically lives between the US, Latin America and the Middle East.

The backdrop of the video linked above could be Italy but I’m not sure.

On its website Nimbus Platform provides what appears to be an incomplete corporate address in Malta.

Any ties Nimbus Platform has to Malta are assumed to be on paper only (shell companies for banking etc.).

As far as I can tell Nimbus Platform is Andrea Zanon’s first MLM venture as an executive.

Update 24th September 2020 – Nimbus Platform has been in touch to advise earlier this month they appointed a new CEO on September 7th.

According to his LinkedIn profile, Fernando Martinho is based out of the UK.

Martinho doesn’t appear to have an MLM history but is the co-founder and CTO of Naoris.

Naoris was launched in 2018 and markets itself as “the world’s 1st cybersecurity blockchain-based ecosystem”.

Naoris’ Alexa web traffic ranking is currently over 1.8 million, suggesting the company failed to gain traction.

As per a press-release put out by “Nimbus Community” on September 9th, Andrea Zanon is still working at Nimbus.

Since Andrea’s interests and expertise lay in traditional finance and the banking industry, he is moving up to a higher global regulated phase.

He will develop our new products that we will soon present to you all!

/end update

Read on for a full review of Nimbus Platform’s MLM opportunity. [Continue reading…]