Binary Torrent offers no info on its web site about who owns or runs the corporate.
The Binary Torrent web site is a prelaunch placeholder, advising an organization launch on or round August twenty seventh.
Binary Torrent’s web site area (“binarytorrent.com”), was privately registered on January 4th, 2022.
BehindMLM got here throughout Binary Torrent final month, through an settlement despatched out by “Bo Jensen”.
Jensen’s electronic mail, despatched out from a BinaryTorrent area electronic mail handle, pitched Binary Torrent as an eEcomelize “rescue bundle”.
eComelize was a pyramid scheme launched by Jan-Eric Nyman in 2020.
Nyman’s MLM roots date again to the Unaico SiteTalk pyramid scheme. Right now he’s greatest identified for being a former developer of the infamous OneCoin Ponzi scheme.
After eComelize collapsed, Nyman went on to entrance Fortunate Dozens, an unlawful lottery scheme launched in mid 2021.
Fortunate Dozens collapsed on or round September 2021. 4 months later Nyman registered Binary Torrent’s web site area.
Learn on for a full overview of Binary Torrent’s MLM alternative.
Binary Torrent’s Merchandise
Binary Torrent associates put money into Lapland Mineral Gold Tokens (LMGT).
- White Package deal – make investments €99 EUR and obtain 16 LMGT
- Inexperienced Package deal – make investments €199 EUR and obtain 50 LMGT
- Blue Package deal – make investments €499 EUR and obtain 175 LMGT
- Crimson Package deal – make investments €1299 EUR and obtain 500 LMGT
- Purple Package deal – make investments €2549 EUR and obtain 1100 LMGT
- Black Package deal – make investments €5049 EUR and obtain 2300 LMGT
To remain eligible to earn commissions, Binary Torrent associates should reinvest each 4 months.
Binary Torrent represents “one token is pegged to 0.1 gram gold”. Binary Torrent goes on to state “traders typically think about gold one of many most secure
investments”, implying investing in LMGT will generate passive returns.
The MLM facet of Binary Torrents pays on recruitment of affiliate traders.
Withdrawal Restrictions
Binary Torrent restricts affiliate withdrawals by segmenting them into three classes:
- money pockets – might be withdrawn for precise cash
- buying and selling pockets – obligatory reinvestment by Binary Torrent’s inside change
- tokens – cost of withdrawals in LMGT tokens
How a lot or little Binary Torrent associates are capable of withdraw with out having to leap by hoops relies on the best bundle tier they’ve investe at:
- White Package deal tier associates obtain 40% of withdrawals to the money pockets, 30% to the buying and selling pockets and 30% in LMGT tokens
- Inexperienced Package deal tier associates obtain 50% of withdrawals to the money pockets, 25% to the buying and selling pockets and 25% in LMGT tokens
- Blue Package deal tier associates obtain 60% of withdrawals to the money pockets, 20% to the buying and selling pockets and 20% in LMGT tokens
- Crimson Package deal tier associates obtain 70% of withdrawals to the money pockets, 15% to the buying and selling pockets and 15% in LMGT tokens
- Purple Package deal tier associates obtain 80% of withdrawals to the money pockets, 10% to the buying and selling pockets and 10% in LMGT tokens
- Black Package deal tier associates obtain 90% of withdrawals to the money pockets, 5% to the buying and selling pockets and 5% in LMGT tokens
Binary Torrent Affiliate Ranks
There are eleven affiliate ranks inside Binary Torrent’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll as a Binary Torrent affiliate, pay the annual price, make investments €99 EUR or extra and proceed to reinvest each 4 months
- Supervisor – personally make investments a minimum of €110 EUR, recruit and keep two Associates or larger and generate 5000 GV in collected weaker binary group facet quantity over the previous 12 months
- Director – personally make investments a minimum of €220 EUR, recruit and keep three Associates or larger and generate 10,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Government – personally make investments a minimum of €440 EUR, recruit and keep 4 Associates or larger and generate 20,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Ruby – personally make investments a minimum of €880 EUR, recruit and keep six Associates or larger (one should be Government or larger), and generate 40,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Emerald – keep an energetic €880 EUR funding, recruit and keep seven Associates or larger (one should be Ruby or larger), and generate 75,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Diamond – personally make investments a minimum of €1650 EUR funding, recruit and keep eight Associates or larger (one should be Emerald or larger), and generate 150,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Blue Diamond – keep an energetic €1650 EUR funding, recruit and keep 9 Associates or larger (one should be Diamond or larger), and generate 300,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Black Diamond – personally make investments a minimum of €4950 EUR, keep 9 personally recruited Associates or larger (one should be Blue Diamond or larger), and generate 750,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Crown Diamond – keep an energetic €4950 EUR funding, keep 9 personally recruited Associates or larger (one should be Black Diamond or larger), and generate 1,500,000 GV in collected weaker binary group facet quantity over the previous 12 months
- Presidential Diamond – keep an energetic €4950 EUR funding, keep 9 personally recruited Associates or larger (one should be Crown Diamond or larger), and generate 5,000,000 GV in collected weaker binary group facet quantity over the previous 12 months
GV stands for “Group Quantity”. Binary Torrent calculated GV as 90% of invested funds.
This implies Binary Torrents funding packages don’t match as much as the required funding quantities. Due to this I’ve supplied required funding quantities in euros over tying them to any particular bundle tier.
Referral Commissions
Binary Torrent associates earn 10% of funds invested in LMGT tokens by personally recruited associates.
Residual Commissions
Binary Torrent associates pay residual commissions through a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary group, break up into two sides (left and proper):
The primary degree of the binary group homes two positions. The second degree of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary group are crammed through direct and oblique recruitment of associates. Observe there is no such thing as a restrict to how deep a binary group can develop.
On the finish of every week Binary Torrent tallies up new funding quantity on either side of the binary group.
Residual commissions are paid as a proportion of latest funding quantity on the weaker binary group facet, primarily based on rank:
- Associates earn a ten% residual fee charge, no cap specified
- Managers earn an 11% residual fee charge, capped at €100 EUR every week
- Administrators earn a 12% residual fee charge, capped at €250 EUR every week
- Executives earn a 13% residual fee charge, capped at €500 EUR every week
- Rubys earn a 14% residual fee charge, capped at €1000 EUR every week
- Emeralds earn a 15% residual fee charge, capped at €4000 EUR every week
- Diamonds earn a 16% residual fee charge, capped at €10,000 EUR every week
- Blue Diamonds earn a 17% residual fee charge, capped at €20,000 EUR every week
- Black Diamonds earn an 18% residual fee charge, capped at €30,000 EUR every week
- Crown Diamonds earn a 19% residual fee charge, capped at €40,000 EUR every week
- Presidential Diamonds earn a 20% residual fee charge, capped at €50,000 EUR every week
As soon as paid out, funds are matched towards the stronger binary group facet and flushed.
Any leftover quantity on the stronger binary group facet carries over.
Matching Bonus
Binary Torrent pays a Matching Bonus through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel group, with each personally recruited affiliate positioned straight underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel group.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Binary Torrent caps the Matching Bonus at 9 unilevel group ranges.
The Matching Bonus is paid as a proportion of residual commissions earned by unilevel group associates throughout these 9 ranges, once more primarily based on rank:
- Administrators earn a ten% match on degree 1 (personally recruited associates)
- Executives earn a ten% match on ranges 1 and a couple of
- Rubys earn a ten% match on ranges 1 to three
- Emeralds earn a ten% match on ranges 1 to three and 5% on degree 4
- Diamonds earn a ten% match on ranges 1 to three and 5% on ranges 4 and 5
- Blue Diamonds earn a ten% match on ranges 1 to three, 5% on ranges 4 and 5 and a couple of.5% on degree 6
- Black Diamonds earn a ten% match on ranges 1 to three, 5% on ranges 4 and 5 and a couple of.5% on ranges 6 and seven
- Crown Diamonds earn a ten% match on ranges 1 to three, 5% on degree 4 and 5 and a couple of.5% on ranges 6 to eight
- Presidential Diamonds earn a ten% match on ranges 1 to three, 5% on degree 4 and 5 and a couple of.5% on ranges 6 to 9
Rank Achievement Bonus
Binary Torrent rewards associates for qualifying at Government and better with the next one-time Rank Achievement Bonuses:
- qualify at Government and obtain €100 EUR
- qualify at Ruby and obtain €500 EUR
- qualify at Emerald and obtain €1000 EUR
- qualify at Diamond and obtain €5000 EUR
- qualify at Blue Diamond and obtain €10,000 EUR
- qualify at Black Diamond and obtain €15,000 EUR
- qualify at Crown Diamond and obtain €20,000 EUR
- qualify at Presidential Diamond and obtain €50,000 EUR
Way of life Bonus
Diamond to Presidential Diamond ranked associates qualify for a month-to-month Way of life Bonus.
- Diamonds obtain €500 EUR a month
- Blue Diamonds obtain €1000 EUR a month
- Black Diamonds obtain €1500 EUR a month
- Crown Diamonds obtain €2000 EUR a month
- Presidential Diamonds obtain €5000 EUR a month
Black Diamond Journeys
Black Diamond ranked Binary Torrent associates qualify for
distinctive and unique luxurious vacation with all bills paid along with our co-founders, administration and mining operation companions.
The Black Diamond Journey is awarded yearly, so long as Black Diamond rank is maintained.
Becoming a member of Binary Torrent
Binary Torrent affiliate membership is paid yearly. The particular quantity payable is just not disclosed.
On prime of that, in an effort to earn commissions, every Binary Torrent affiliate should make investments €99 to €5049 each 4 months.
Binary Torrent Conclusion
Binary Torrent is basically a barely modified OneCoin Ponzi clone.
Schooling packages have been swapped out for “publishing rights”, and the ONE token equal is LMGT tokens. There are additionally withdrawal restrictions, designed to entice as a lot cash within the system for so long as doable.
Binary Torrent’s official advertising and marketing presentation claims the corporate was “based within the USA with places of work in Sweden and Vietnam”.
Analyzing this declare permits to deconstruct the three core parts of Binary Torrent’s Ponzi scheme.
The one connection Binary Torrent has to the US is the Delaware shell firms Binary Torrent LLC and Made4Share Publishing LLC.
Made4Share Publishing LLC was included on March 21, 2022. I don’t know precisely when Jan-Eric Nyman acquired the area “made4share.com”, however by the Wayback Machine I can verify it was parked as late as December 2021.
The Made4Share part of Binary Torrent sees the corporate permit traders to add ebooks to the location.
Publish your on-line e-book with Made4Share and get learn by thousands and thousands of readers. The brand new technique to be heard, seen, and appreciated.
Credit to take action are bundled with Binary Torrent’s LMGT token funding packages.
Binary Torrent’s connection to Sweden is that’s the place Jan-Eric Nyman is from:
Binary Torrent’s connection to Vietnam is thru Simon Le:
Le was a prime earner in OneCoin, focusing his advertising and marketing and recruitment efforts on Vietnam. After OneCoin collapsed in 2017, Le fled to Vietnam.
He’s since tried to launch a number of spinoff Ponzi schemes, none of which have gone anyplace. BehindMLM final noticed Le in late 2021, as a part of the WinWheel Ponzi scheme – additionally run by former OneCoin scammers.
WinWheel collapsed shortly after launch. Right now the rip-off’s web site is non-responsive.
The second part of Binary Torrent is Lapland Minerals Inc., a shell firm Nyman arrange in Panama on or round March 2022.
Panama is a scam-friendly jurisdiction with no identified regulation of MLM associated securities fraud.
It’s this jurisdiction Nyman has included Lapland Minerals in, for the only real function of producing LMGT tokens by.
LMGT is a BEP-20 shit token. BEP-20 tokens are created on the Binance Sensible Chain. Anybody can set one up in a couple of minutes at little to no value.
By means of Lapland Minerals, Nyman claims
all LMGT have correct and verifiable 0.1 gram Gold asset claims connected to them, and there are a complete of 1.2 billion provide.
On this baseless premise, Nyman flogs LMGT to traders “primarily based on present gold worth index.”
That is an fascinating part of Binary Torrent, because it means anybody who invests is hit with an on the spot catastrophic loss.
E.g. you’re feeling like shedding cash to serial Ponzi scammers so that you put money into Binary Torrent’s Black Package deal for €5049 EUR.
This will get you 2300 LMGT tokens, coming in at €2.19 EUR every.
Binary Torrent represents every LMGT token is the equal of 0.1 grams of gold.
There are 1000 grams in a kg, so we multiply 2.19 by 1000 to get the LMGT 1 kg of gold equal.
That involves €2195 EUR. The precise worth of 1 kg of gold is at the moment ~€56,463 EUR.
Binary Torrent’s bullshit gold tokens characterize an on the spot 96% loss in worth.
And issues get even worse while you have a look at LMGT’s public buying and selling worth:
LMGT is at the moment buying and selling at round 0.40 EUR. Jan-Eric Nyman is promoting you tokens he created out of skinny air for €2.19 EUR every. And at greatest they’ve a public buying and selling worth of 0.40 EUR every.
Consider none of that is imagined to make sense underneath scrutiny. Nyman has simply created a bullshit Ponzi backstory with a bunch of shell firms to realize entry to banking channels.
The way in which the Ponzi scheme is meant to work is new traders come on board, LMGT pumps and current traders are capable of money out.
And that’ll in all probability occur so long as new traders signal as much as lose cash. Though at 0.40 EUR every, LMGT must be pumped to a minimum of the quantity Nyman is promoting them to Binary Torrent associates for.
Like OneCoin, the MLM facet of Binary Torrent is a pyramid scheme. It’s sole goal is to incentivize recruitment of affiliate traders, with out which Binary Torrent’s Ponzi scheme is lifeless within the water.
Since OneCoin the failed Ponzi launches between Nyman and Le are including up. Binary Torrent isn’t more likely to play out any completely different.
However, even when it does achieve some traction and Nyman and Le are capable of money out, nearly all of individuals in Ponzi schemes lose cash.