DDK was a Ponzi factors scheme launched in 2018.
The MLM cypto rip-off primarily focused traders in Malaysia, Indonesia and Brunei.
Heading up DDK have been married co-founders Azrainuddin Zainal (aka Arai Ezzra) and Nur Ezdiani Baharoddin. Serving as DDK’s CEO was Nurshuhada Zainal.
DDK was tied to DDKoin and was your typical Ponzi factors scheme.
Promote a bunch of nugatory crypto you created out of skinny air, take traders cash and money out.
You already know, just about each MLM crypto with its personal coin on the market.
Anyway quick ahead two years and Zainal and Baharoddin nonetheless look like concerned in DDK, at the least primarily based on their social media exercise.
DDK as an MLM alternative nonetheless is pretty much as good as over.
Enter Sensible Asset Managers (SAM).
SAM is the present face of DDKoin. The corporate has basically picked up the place DDK picked off, full with a boatload of recent bogus guarantees to entice traders.
SAM was based by Rommel Santos, who seems to be a DDKoin bagholder.
Like DDK, nothing a lot has been going with SAM till not too long ago.
Connected to SAM is SAMKoin, an ERC-20 shit token.
SAMKoin is on the middle of SAM, with traders capable of offload their nugatory DDKoin for equally nugatory SAMKoin.
SAMKoin can be at present being flogged off to gullible traders for 70% to 90% of its made-up $1 worth.
Two days in the past SAMKoin was listed on ProBit, so public buying and selling is or will quickly be doable. Not that it issues, as public buying and selling of Ponzi cash is only a step in direction of the inevitable exit-scam.
When you undergo the whitepaper supplied on SAM’s web site, you’ll see the standard “options with out a downside” routine.
No person investing SAMKoin cares about any of that. What they’re investing for is the promise of a month-to-month return of as much as 15%.
SAMKoin presents month-to-month returns beneath the guise of “SAMPD”.
You enroll and put money into SAMKoin, then park invested SAMKoin with the corporate and gather a return.
Observe that of their convoluted description of a Ponzi scheme, SAM refers to funding as a “subscription”.
Each subscription price obtained from the subscribers in trade for info on SAMPD Enterprise Ventures, is robotically channeled to the Pre-Growth Capital Elevating of SAMPD.
This subscription price obtained will present foundation to purchase SAM Koin.
Because the subscribed quantity of SAMPD is used to purchase the SAM Koin, these cash bought will robotically get locked contained in the SAMPD subscribers’ fund pockets, which may have an figuring out quantity that will likely be linked to particular subscribers’ account.
Relying on the USDT quantity of subscription by the subscriber(s), this quantity will then be transformed to SAM Koin and the locked in protocol will stay legitimate till the time that subscribers cancel the quantity of subscription worth primarily based on USDT worth quantity.
Throughout the time of lively subscription and backed by the collective actions of the SAMPD’s typical companies and joint partnerships, SAMPD will generate a number of earnings streams and this in flip will get distributed to the subscribers’ community manifolded as a type of present or incentives ranging as much as 15% month-to-month from the whole subscribed quantity of the subscribers.
If you traders money out, they’re charged a 5% to 10% price.
SAM frames utilizing invested funds to pay returns as “shopping for SAM Koin” from traders.
On Fb Rommel Santos is at present plugging “SAM MAP”. “MAP” stands for “Retailers Acceleration Program”.
SAM MAP is one other SAMKoin funding scheme promising a 200% ROI.
Supposedly SAM associates put money into packages, bing badda growth 200% ROI you already know the drill.
I’d love to provide you particular particulars of SAM’s fee construction however the firm doesn’t disclose it’s compensation plan (sidenote: keep away from any MLM firm that isn’t upfront about how commissions are paid).
I can affirm referral commissions are paid, as evidenced by the “right here is my referral code” template within the picture above (backside proper).
To get an concept of what SAM relies on, revisit BehindMLM’s DDK assessment.
Our response to DDK’s weaksauce try to justify their Ponzi scheme can be price a learn.
On the regulatory entrance each DDK and SAM have caught the eye of the Malaysian Securities Fee.
Passive funding schemes are securities choices, and neither DDK or SAM are registered to supply securities in any jurisdiction.
In response to receiving securities fraud warnings in Malaysia, DDK and SAM faux they’re operated out of Singapore.
On its web site SAM supplies two company addresses; one in Australia and the opposite in Singapore.
The Australian handle belong to an orthodontic clinic. The handle in Singapore is a set handle.
Rommel Santos is from the Philippines, whether or not he operates from there or Malaysia nonetheless is unclear.
Both manner you’re taking a look at both a Malaysian operation or Malaysia-Philippines break up.
In an try to look reliable, SAM represents on its SAMKoin web site that the corporate has numerous regulatory registrations.
AUSTRAC will not be a securities regulator, not withstanding the offshore corporations registering with the Australian Securities and Investments Fee registration is meaningless.
The Philippine SEC is a securities regulator, nonetheless SAM present no proof they’ve registered their SAMKoin funding alternative with the SEC.
Bangko Sentral ng Pilipinas, or the Central Financial institution of the Philippines, like AUSTRAC isn’t a securities regulator.
Underscoring SAM’s makes an attempt to feign legitimacy is each DDK and SAM not registering with the Malaysian Securities Fee, regardless of receiving two securities fraud notices.
Many of the DDKoin/SAMKoin bagholders look like in Indonesia. SAM’s web site site visitors is at present non-existent.
DDK’s web site site visitors is in decline, with Alexa estimating 42% originates out of Indonesia.
Neither DDK or SAM are registered to supply securities in Indonesia.
As with DDK and all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This may see SAM unable to pay SAMKoin withdrawals. Cue what occurred with DDK and as soon as once more nearly all of traders will likely be left bagholding a nugatory token.