2019 wasn’t a very good yr for Tom McMurrain.
In March 2019 CMDX was on the snapping point, prompting McMurrain to beg for $100,000.
Then in August CMDX was dumped from the one public alternate McMurrain was in a position to get it listed on.
After that CMDX went into stagnation and successfully collapsed.
On June 1st 2022, McMurrain acquired the area “databank.me”.
On August 2nd CMDX’s outdated web site area was redirected to DataBank, and McMurrain rebooted his failed crypto grift.
Learn on for a full overview of DataBank’s MLM alternative.
DataBank Company
Tom McMurrain (proper) is a convicted felon who’s MLM declare to fame is being a high US earner in OneCoin.
OneCoin was a $4 billion Ponzi scheme. It’s thought of some of the infamous MLM scams of all time.
Being a high US earner (OneCoin’s stint within the US was temporary), McMurrain sits mid-tier amongst OneCoin’s scammers.
The Ponzi aspect of OneCoin collapsed in January 2017. McMurrain rapidly deserted ship and by Could had launched CoinMD.
CoinMD’s enterprise mannequin was primarily:
- give Tom McMurrain cash for nugatory CoinRewards Ponzi factors
- one thing one thing healthcare
- everyone loses cash besides Tom McMurrain
CoinMD collapsed in March 2019, prompting McMurrain to reboot as CMDX. Now the grift was “monetizing private info”.
CoinRewards have been changed by CMDX and U$D tokens, in any other case the enterprise mannequin was the identical:
- give Tom McMurrain cash for nugatory CMDX tokens
- one thing one thing private info
- everyone loses cash besides Tom McMurrain
CMDX collapsed a lot faster than CoinMD did. McMurrain let it sit idle till just a few months in the past, which brings us to DataBank’s launch on or round July 2022.
DataBank’s Merchandise
DataBank doesn’t have a retail providing however does provide a free tier.
Customers join free, full a “HealthStyle profile” and obtain $280 value of DataRewards (DBME) tokens after 12 months.
The MLM aspect of DataBank has no retailable services or products.
DataBank’s Compensation Plan
DataBank associates join and buy DBME tokens. DBME tokens are then used to pay for subscriptions.
DataBank don’t disclose the inner DBME conversion worth however do value their subscriptions in USD equivalents:
- Prime – $75 annual subscription, obtain $550 value of locked DBME over 11 months
- Bronze – $550 annual subscription, obtain $1260 value of locked DBME over 10 months
- Silver – $1100 two-year subscription, obtain $3070 value of locked DBME over 9 months
- Gold – $3300 three-year subscription, obtain $8210 value of locked DBME over 8 months
- Platinum – $5500 five-year subscription, obtain $13,350 value of locked DBME over 6 months
Be aware that DBME obtained by way of subscriptions is locked for the time period of the subscription (12 months to five years).
The MLM aspect of DataBank pays on recruitment of subscription fee-paying associates.
Recruitment Commissions
DataBank associates are paid in USD and DBME once they recruit new associates.
Particular charges aren’t disclosed however right here’s the 2 examples DataBank gives of their compensation documentation:
- recruit a Prime affiliate and obtain $75 plus $50 in DBME (observe $75 is the overall subscription quantity paid, I’m unsure if that’s a typo within the documentation)
- recruit a Silver affiliate and obtain $550 plus $50 in DBME
Going off Silver, recruitment commissions seem like 50% of subscription charges paid and $50 or extra of DBME.
Residual Commissions
DataBank pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary crew, cut up into two sides (left and proper):
The primary stage of the binary crew homes two positions. The second stage of the binary crew is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary crew are generated as required, with every new stage housing twice as many positions because the earlier stage.
Positions within the binary crew are stuffed by way of direct and oblique recruitment of associates. Be aware there is no such thing as a restrict to how deep a binary crew can develop.
Each Monday DataBank tallies up new subscription quantity on each side of the binary crew.
Associates are paid 10%, capped based mostly on how a lot they’ve paid in subscription charges:
- Prime tier associates earn as much as $250 in residual commissions every week
- Bronze tier associates earn as much as $550 in residual commissions every week
- Silver tier associates earn as much as $1100 in residual commissions every week
- Gold tier associates earn as much as $3300 in residual commissions every week
- Platinum tier associates earn as much as $25,000 in residual commissions every week
As soon as paid out on, quantity is matched in opposition to the stronger binary crew aspect and flushed. Any leftover quantity on the stronger binary crew aspect carries over.
Matching Bonus
DataBank pays a Matching Bonus on residual commissions earned by downline associates.
The Matching Bonus is paid out by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel crew, with each personally recruited affiliate positioned instantly below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
DataBank caps the Matching Bonus at 4 unilevel crew ranges.
The Matching Bonus is paid out on residual commissions earned throughout these 4 ranges as follows:
- Bronze and Silver associates earn a ten% match on stage 1 (personally recruited associates) and stage 2
- Gold associates earn a ten% match on ranges 1 and a couple of and 20% on stage 3
- Platinum associates earn a ten% match on ranges 1 and a couple of, 20% on stage 3 and 25% on stage 4
Be aware that to qualify for the Matching Bonus, a DataBank affiliate will need to have earned at the very least $400 in residual commissions for the week.
This requirement locks out Prime tier associates from the Matching Bonus.
Becoming a member of DataBank
DataBank affiliate membership is tied to a subscription:
- Prime – $75 for 12 months
- Bronze – $550 for 12 months
- Silver – $1100 for two years
- Gold – $3300 for 3 years
- Platinum – $5500 for five years
The extra a DataBank affiliate spends on their subscription the upper their revenue potential.
DataBank Conclusion
Not surprisingly, DataBank’s enterprise mannequin could be summed up as:
- give Tom McMurrain cash for nugatory DBME tokens
- one thing one thing private info
- everyone loses cash besides Tom McMurrain
Whereas CMDX and U$D have been ERC-20 tokens, for DBME McMurrain has migrated over to BEP-20.
Be it ERC-20 or BEP-20, these tokens take a couple of minutes to arrange at little to no value.
Though “private info” remains to be the grift, outdoors of the token funding scheme free customers and associates can obtain extra DBME by finishing varied duties.
This aspect of DataBank is grouped below “SuperWallet” branding.
Contemplating McMurrain generates DBME at little to no value on demand, “duties for DBME tokens” is basically busy-body work.
On the back-end McMurrain locks up acquired DBME, that means the one cash to be made is by way of recruitment of latest associates. That is your traditional pyramid scheme.
As we’ve seen with CoinMD and CMDX, there’s nothing to money out when tokens are launched as a result of the tokens themselves are nugatory.
To that finish DataBank seems to be set as much as assist McMurrain’s CoinMD and CMDX victims offload their token baggage onto new victims.
When a brand new affiliate indicators up, they pay an current token bagholder by way of DataBank’s backoffice. The bagholder affiliate then transfers tokens from their very own stash to the brand new recruit.
As to the precise worth of DMBE, on a current DataBank webinar McMurrain bemoaned one in all his victims promoting 50 million tokens for $38 ($0.00000076).
On the likelihood DataBank will flop as soon as the window to dupe new victims with a name-change dries up, McMurrain is already establishing his subsequent grift:
Crypto and foreign currency trading, over a shady Telegram group… groan.
“MySignal” will probably be accessible to Silver and better tier DataBank subscribers.
MySignal funnels DataBank associates into Good Revenue, a crypto and foreign currency trading platform with its personal advertising plan.
Not surprisingly, Good Revenue additionally gives traders entry to automated buying and selling bots.
Good Revenue is ready up by way of a shell firm in Connecticut. Tom McMurrain and Good Revenue homeowners Eric Kipperman and Che Shiva are all based mostly out of the US.
Neither DataBank, Tom McMurrain, Good Revenue, Kipperman or Shiva are registered with the SEC.
Curiously sufficient in researching Good Revenue I got here throughout the corporate selling Meta Drive.
Meta Drive is a part of Lado Okhotnikov’s Forsage Ponzi schemes.
The SEC filed swimsuit in opposition to Okhotnikov and ten Forsage scammers for securities fraud again in August.
MetaForce collapsed final month. Final I checked in Okhotnikov is attempting to get some MetaForce NFT nonsense off the bottom.
Beneath the ruses of “”sensible contract”, sensible buying and selling” and “sensible staking”, Kipperman and Shiva funnel Good Revenue individuals into varied crypto scams:
- Swapnex is a collapsed Boris CEO Ponzi scheme
- Pinaki is a collapsed “buying and selling” Ponzi scheme
- Decentra is a Dubai based mostly Ponzi scheme run by Mexican nationwide Jonathan Sifuentes (Sifuentes is laying low following a securities fraud settlement with Arizona final month)
- XDefi is a “staking” crypto Ponzi scheme constructed round XDEFI tokens
Be it straight funding into DBME tokens or oblique funding into Ponzi schemes by way of Good Revenue, math ensures nearly all of individuals in Ponzi and pyramid schemes lose cash.
