The MLM facet of DasCoin is gearing up for its third name-change.
As introduced at DasCoin’s current Dubai occasion, Web Leaders will likely be renamed and relaunched as Excelz on December 1st.
There doesn’t look like any official purpose for the Web Leaders name-change.
Excelz is meant to be launching a “digital administration hub” for associates in mid December. There’s additionally a journey low cost portal launch deliberate.
One apparent unofficial purpose for a name-change is that, as of October, each DasCoin and Web Leaders are underneath legal investigation in Poland.
That investigation has up to now resulted within the seizure of $11.6 million tied to DasCoin funding by means of Web Leaders.
Web site exercise on each the DasCoin and Web Leaders web sites was already in decline for many of 2018. Developments in Poland has seen each firm web sites tank even additional.
For these unfamiliar with the corporate, Web Leaders started as Coin Leaders in late 2016.
Coin Leaders noticed associates spend money on DasCoin factors, which has principally adopted your typical MLM altcoin pump and dump trajectory.
Seeing as DasCoin and Coin Leaders had been launched by former OneCoin scammers, the enterprise mannequin of getting individuals to spend money on their very own altcoin wasn’t shocking.
Whereas OneCoin has remained on the Ponzi factors stage nevertheless, DasCoin did truly go public in mid 2018.
Since then Web Leaders traders have learnt the exhausting method that no one outdoors of the corporate is enthusiastic about DasCoin.
After an preliminary pump of round 21 cents, DASC has dumped to its present 2.2 cent worth.
Will a name-change, digital administration hub and journey portal flip issues round? In all probability not.
Coin Leaders associates invested in DASC for one purpose: They needed to finally offload their DASC onto new bagholders for greater than they paid for them.
Identical as some other MLM “we now have an altcoin now too” firm actually.
Replace sixth December 2018 – It appears Web Leaders isn’t solely altering their identify, but in addition the shell firm used behind the scenes to course of funds.
Web Leaders processed affiliate funding by means of “CL Singapore Pte. Ltd., a shell firm in Singapore.
The name-change to Excelz has seen the formation of Corbilex Companies Ltd., a brand new DasCoin associated shell firm in Dubai.
It’s extremely seemingly this is because of regulatory difficulties because of the legal investigation into Web Leaders/Excelz (banks refusing to course of transactions and many others.).
Web Leaders associates are being instructed to resign up as Excelz associates underneath a brand new settlement.
Anybody the corporate doesn’t need to hold although is out;
As a part of its settlement with CL Singapore, the Excelz group has reserved the proper to disclaim any NetLeaders buyer or advocate the power to choose in to the brand new Excelz program with out justification.
Consequently, participation in Excelz and all related advantages are prolonged to members of the NetLeaders group as an invite and privilege, and never with no consideration or entitlement.
Nothing suss about any of that…