Cryptexify offers no data on its web site about who owns or runs the corporate.
Cryptexify’s web site area (“cryptexify.com”), was first registered in Could 2021. The personal registration was final up to date on June twenty first, 2022.
In an try to seem reputable, Cryptexify offers company addresses in Canada, the UK, New Zealand, the US and Zimbabwe.
With the addition of Nigeria, primary incorporation certificates for varied shell firms are additionally offered.
For the aim of MLM due-diligence, these addresses and incorporations are meaningless.
Cryptexify’s official FaceBook web page was created in September 2021. Versus any of the international locations above, Cryptexify’s FaceBook web page is managed from India.
Cryptexify uploaded its first 5 video to its YouTube channel in August 2021. These had been your typical inventory footage advertising hype, all coming in at 15 to 30 seconds.
On March twenty sixth 2022, Cryptexify determined to go the Boris CEO route:
Properly, not a lot a Boris CEO as Boris “Tour Information”. “Sandra Davis” takes us on a tour of the same old rented workplace setup.
There we meet Cryptexify’s precise Boris CEO, “Zane Hayden”:
I don’t have a reputation purchase Hayden is an actor primarily based out of Japanese Europe. He not too long ago appeared in a advertising video for Jaoken, an organization primarily based out of Georgia.
Georgia neighbours Russia, the place virtually all Boris CEO movies are produced from.
Who owns Cryptexify comes down to 2 doable situations:
- Russian scammers run Cryptexify with social media outsourced to India; or
- Indian scammers run Cryptexify and employed Russians to make the Boris CEO video.
As all the time, if an MLM firm isn’t brazenly upfront about who’s operating or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
Cryptexify’s Merchandise
Cryptexify has no retailable services or products.
Associates are solely capable of market Cryptexify affiliate membership itself.
Cryptexify’s Compensation Plan
Cryptexify associates make investments cryptocurrency on the promise of marketed Monday to Friday returns:
- Bronze – make investments $30 to $25,000 and obtain 2% a day for 100 days
- Silver – make investments $25,500 to $60,000 and obtain 3% a day for 100 days
- Gold – make investments $60,500 to $150,000 and obtain 4% a day for 100 days
Notice that Cryptexify fees a ten% payment on all withdrawals.
The MLM facet of Cryptexify pays on recruitment of affiliate buyers.
Referral Commissions
Cryptexify associates earn a proportion of cryptocurrency invested by personally recruited associates.
Referral fee charges are decided by how a lot a Cryptexify affiliate has invested:
- Bronze tier associates earn a 7% referral fee charge
- Silver tier associates earn an 8% referral fee charge
- Gold tier associates earn a ten% referral fee charge
Residual Commissions
Cryptexify pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary group, cut up into two sides (left and proper):
(binary)
The primary stage of the binary group homes two positions. The second stage of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new stage housing twice as many positions because the earlier stage.
Positions within the binary group are crammed by way of direct and oblique recruitment of associates. Notice there is no such thing as a restrict to how deep a binary group can develop.
On the finish of every day Cryptexify tallies up new funding quantity on each side of the binary group.
Residual commissions are paid as 10% of cryptocurrency invested on the weaker binary group facet.
- Bronze tier associates are capped at $3000 in residual commissions a day
- Silver tier associates are capped at $6500 in residual fee a day
- Gold tier associates are capped at $15,000 in residual commissions a day
After residual commissions are paid, weaker facet quantity is matched in opposition to the stronger binary group facet and flushed.
Any leftover quantity on the stronger binary group facet carries over.
Becoming a member of Cryptexify
Cryptexify affiliate membership is free.
Full participation within the connected revenue alternative requires a minimal $30 funding.
Cryptexify solicits funding in varied cryptocurrencies
Cryptexify Conclusion
Cryptexify claims it generates exterior income by way of “cryptocurrency and foreign currency trading”.
These cliches are the defacto ruse for MLM Ponzi schemes.
Cryptexify fails to offer proof of buying and selling, or every other exterior income technology getting used to pay withdrawals.
Because it stands, the one verifiable income coming into Cryptexify is new funding.
Utilizing new funding to pay associates a Monday to Friday ROI makes Cryptexify a Ponzi scheme. This tracks with Cryptexify’s nameless possession and Boris CEO setup.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve Cryptexify of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, the vast majority of members lose cash.
