Iconatek fails to offer possession or government data on its web site.
Iconatek’s web site area (“iconatek.io”), was privately registered on April twenty seventh, 2023.
If we check out Iconatek’s web site source-code, we discover a references to iVicsant Applied sciences.
iVicsant Applied sciences is a software program developer catering to Spanish-speaking clientele.
The corporate doesn’t seem to exist outdoors of a WhatsApp contact quantity.
Regardless, from this we study the admin of Iconatek possible speaks Spanish. We can also’t rule out whoever is working iVicsant Applied sciences can also be working Iconatek.
As all the time, if an MLM firm shouldn’t be brazenly upfront about who’s working or owns it, assume lengthy and arduous about becoming a member of and/or handing over any cash.
Iconatek’s Merchandise
Iconatek has no retailable services or products.
Associates are solely capable of market Iconatek affiliate membership itself.
Iconatek’s Compensation Plan
Iconatek associates make investments cryptocurrency on the promise of a passive return.
In an Iconatek advertising and marketing video uploaded to YouTube on Could nineteenth, 2023, Jeremy Barnett states;
Welcome to Iconatek. I’m tremendous excited to be utilizing their software program and their buying and selling AI.
I’m getting us round eight to 10 p.c a month. Very constant. Very stable.
Iconatek pays referral commissions on invested cryptocurrency down two ranges of recruitment (unilevel):
- stage 1 (personally recruited associates) – 10%
- stage 2 – 5%
Becoming a member of Iconatek
Iconatek affiliate membership is free.
Full participation within the hooked up revenue alternative requires an funding in cryptocurrency.
Iconatek solicits funding in varied cryptocurrencies.
Iconatek Conclusion
Iconatek represents it generates exterior income by way of foreign currency trading.
Iconatek is a distinguished on-line foreign exchange and commodities brokerage, offering its customers with the chance to interact in buying and selling actions in Foreign exchange, commodities, securities, and shares independently.
This requires registration with monetary regulators, which Iconatek fails to offer proof of.
Ditto audited monetary reviews, which is the one solution to confirm Iconatek is definitely paying withdrawals with purported foreign currency trading income.
If we take Iconatek promoter Jeremy Barnett for instance, he’s primarily based out of Florida within the US.
Neither Iconatek or Jeremy Barnett are registered with the CFTC or SEC. Which means at a minimal, Iconatek and Barnett are committing commodities and securities fraud.
Because it stands the one verifiable income coming into Iconatek is new funding.
Utilizing new funding to fund withdrawals would make Iconatek a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve Iconatek of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, nearly all of contributors lose cash.
