Take a breath, you haven’t by chance left your incognito window on the ‘Hub open.
As we speak we’re reviewing KOK Play, a cryptocurrency MLM firm that represents it’s based mostly out of South Korea.
“KOK” stands for Keystone of Alternative & Data. The abbreviation is pronounced precisely because it appears to be like.
Most likely a type of cases it’s best to have run the identify by a local English speaker, however I digress.
KOK Play offers no details about who owns or runs the corporate on its web site.
KOK Play’s web site area (“kok-play.io”) was first registered in August 2019.
The registration was final up to date in on August twenty first, 2021. “TheMedium” via an incomplete deal with in Seoul, South Korea is listed because the proprietor.
Additional analysis reveals KOK Play advertising crediting Jiwon Kang as CEO of the corporate.
Kang was appointed on or round January 2021.
Along with working KOK Play, Kang seems to personal SuperAcid.
SuperAcid is a failed gaming firm that first tried to leap on the crypto bandwagon in 2018:
Davinci Coin was dumped on public exchanges in late 2019. Aside from a number of transient pump and dump spikes nothing a lot occurred.
I additionally discovered KOK Play advertising citing Kang as CEO of WeredSoft, one other failed gaming firm.
It appears Jiwon Kang is decided to be a crypto bro, and so now we’ve got KOK Play with its personal KOK token.
Learn on for a full overview of KOK Play’s MLM alternative.
KOK Play’s Merchandise
KOK Play has no retailable services or products.
KOK Play associates are solely capable of market KOK Play affiliate membership itself.
KOK Play’s Compensation Plan
KOK Play associates make investments $100 or extra in KOK tokens.
As soon as invested in, KOK tokens are parked with KOK Play on the promise of a month-to-month return, paid every day:
- make investments $100 to $1499 in KOK tokens and obtain 3% a month
- make investments $1500 to $9999 in KOK tokens and obtain 5% a month
- make investments $10,000 or extra in KOK tokens and obtain 7% a month
Returns are paid until 200%, after which new funding is required to proceed incomes.
The MLM aspect of KOK Play pays on recruitment of affiliate buyers.
Observe that each one commissions in KOK Play are paid in KOK tokens. KOK tokens might be withdrawn via the corporate’s app trade.
KOK Play Affiliate Ranks
There are 9 affiliate ranks inside KOK Play’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll and put money into KOK tokens
- 1 Star – recruit 5 associates
- 2 Star – personally recruit 5 1 Stars
- 3 Star – personally recruit ten associates (three should be 2 Stars) and generate $30,000 in complete downline funding quantity
- 4 Star – personally recruit three 3 Stars
- 5 Star – personally recruit three 4 Stars
- 6 Star – personally recruit three 5 Stars
- 7 Star – personally recruit three 6 Stars
- 8 Star – personally recruit three 7 Stars
Observe that recruited associates should have an energetic funding incomes a every day ROI to rely in direction of rank qualification.
Referral Commissions
KOK Play pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel group, 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 group.
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.
Referral commissions are paid as a proportion of KOK tokens returns paid every day (calculated month-to-month) throughout the unilevel group.
KOK Play doesn’t appear to restrict what number of ranges referral commissions are paid on. Issues do get a bit sketchy from the eleventh stage although.
- recruit one affiliate and earn a 100% referral fee charge on stage 1 (personally recruited associates)
- recruit two associates and earn 100% on stage 1 and 20% on stage 2
- recruit three associates and earn 100% on stage 1, 20% on stage 2 and 10% on stage 3
- recruit 4 associates and earn 100% on stage 1, 20% on stage 2 and 10% on ranges 3 and 4
- recruit 5 associates and earn 100% on stage 1, 20% on stage 2 and 10% on ranges 3 to five
- recruit six associates and earn 100% on stage 1, 20% on stage 2, 10% on ranges 3 to five and 5% on stage 6
- recruit seven associates and earn 100% on stage 1, 20% on stage 2, 10% on ranges 3 to five and 5% on ranges 6 and seven
- recruit eight associates and earn 100% on stage 1, 20% on stage 2, 10% on ranges 3 to five and 5% on ranges 6 to eight
- recruit 9 associates and earn 100% on stage 1, 20% on stage 2, 10% on ranges 3 to five and 5% on ranges 6 to 9
- recruit ten associates and earn 100% on stage 1, 20% on stage 2, 10% on ranges 3 to five and 5% on ranges 6 to 10
Observe that recruited associates should have an energetic funding incomes a every day ROI to rely in direction of referral fee qualification standards.
Technology Earnings
Technology Earnings are paid on unilevel group ranges from stage eleven and deeper.
Technology Earnings are tied to rank, beginning at 3 Star:
- 3 Stars earn a 3% Technology Earnings charge
- 4 Stars earn a 5% Technology Earnings charge
- 5 Stars and better earn a ten% Technology Earnings charge
Bonus Personally Recruited Affiliate ROI Fee
Tied to ranks 1 Star via 8 Star are bonus fee charges paid on month-to-month returns paid to personally recruited associates.
- 1 Stars earn a 1% bonus
- 2 Stars earn a 3% bonus
- 3 and 4 Stars earn a 3% bonus
- 5 Stars earn a 4% bonus
- 6 Stars earn a 5% bonus
- 7 Stars earn a 6% bonus
- 8 Stars earn a ten% bonus
Becoming a member of KOK Play
KOK Play affiliate membership is free.
Full participation within the connected earnings alternative requires a minimal $300 funding in KOK tokens.
Observe that upon reaching 200%, reinvestment is required to proceed incomes.
KOK Play Conclusion
KOK Play is your typical MLM crypto Ponzi scheme.
KOK token is an ERC-20 token based mostly on the ethereum blockchain. A KOK block… chain if you’ll.
ERC-20 tokens might be arrange in a couple of minutes at little to no value.
KOK Play represents that it generates exterior income through its app. KOK Play’s app options video games and a purchasing portal.
Supposedly income is generated through sport gross sales, purchasing portal charges and common KOK token transaction charges.
Fortunately KOK Play hasn’t deployed any of the pseudo-compliance we sometimes see relating to their KOK token passive funding scheme.
The corporate is upfront about providing a passive funding alternative, making it straightforward for shoppers to establish KOK Play’s MLM alternative as a securities providing.
On account of its securities providing, KOK Play is required to register with monetary regulators; each in South Korea and each jurisdiction the corporate solicits funding in.
Along with South Korea, KOK Play advertising represents the corporate is working in China, Japan, the US and Vietnam.
In China MLM is banned outright with no license. KOK Play offers no indication on its web site that it has acquired a Chinese language MLM license and is working legally there.
In South Korea, Japan, the US and Vietnam, securities are respectively regulated by the Monetary Providers Fee, Monetary Providers Company, the SEC and State Securities Fee.
KOK Play offers no proof it has registered with any monetary regulator. Thus, along with China, KOK Play is working illegally the world over.
Registering with monetary regulators would require KOK Play to file periodic audited monetary experiences. That is the solely manner for shoppers to confirm the corporate’s exterior income claims.
Neither social media, advertising movies or press-releases are an alternative choice to legally required filed monetary experiences.
If it wasn’t apparent by now, no matter peanuts KOK Play could be making from its app video games and purchasing, is dwarfed by the solicitation of hundred and hundreds of {dollars} instantly into KOK tokens.
KOK Play solicits funding on the promise of a 200% ROI, paid in tokens they create on demand at little to no value.
Withdrawals are potential till new funding declines, which is able to set off the inevitable Ponzi collapse.
KOK token debuted on public exchanges in January 2020. Nothing occurred till the ROI scheme took off earlier this 12 months.
You’ll be able to see the everyday Ponzi token pump at the moment going down. That is tied to new funding.
As soon as KOK Play withdrawals strip funding and/or recruitment dries up, we’ll then see the inevitable dump again to $0.
Trying ahead, KOK Play has already introduced plans to enter foreign exchange fraud:
And lending (assume BitConnect):
These can be launched to maintain the KOK token Ponzi going simply that little longer.
One factor KOK Play advertising makes an enormous deal of is withdrawals being paid on time.
When the inevitable withdrawal delays kick in, take that as an indication issues are on the decline.
Within the meantime, scammers in South Korea and some early promoters will withdraw the vast majority of invested funds. That is merely Ponzi math enjoying out.
Versus the completely satisfied ending the vast majority of buyers are hoping for, they’ll as an alternative be left standing round holding their KOKs.
Replace twenty ninth April 2022 – A reader wrote in questioning if there have been any updates on KOK Play.
As of April 2022, KOK Play’s web site area has been deserted. This follows a pyramid fraud warning from Russia.
There’s is an app obtain accessible on “kok-play.xyz”. This appears to be like extremely suspicious although.
What’s left of KOK now operates from “kok-chain.io”. The corporate seems to have simply rebranded itself as KOK – specializing in its token.
Right here’s how that’s going:
If KOK’s MLM scheme is working it’s being saved extremely low-key. Most likely by design, as the corporate’s house owners have obtained the vast majority of invested funds by now.
KOK because it stands is within the “wait until folks get bored and transfer on” section. Web site site visitors to KOK Chain is in regular decline (the .XYZ area can be in decline).
Bagholding KOK Play associates is not going to doubt be determined to get new recruits on board. Failing which they’ll have to come back to phrases with inevitable Ponzi losses.