CryptZek gives no data on their web site about who owns or runs the enterprise.
CryptZek’s web site area (“cryptzek.com”) was privately registered on March twenty seventh, 2019.
On their web site CryptZek claims to be
an funding firm registered in the USA Of America, beneath the Accounting and Company Regulatory Authority (ACRA) with Registration Quantity 10874403.
ACRA is a Singapore regulatory physique that has nothing to do with the US.
Moreover even when you punch within the equipped registration quantity on ACRA’s web site, nothing comes up:
As all the time, if an MLM firm is just not overtly upfront about who’s working or owns it, assume lengthy and onerous about becoming a member of and/or handing over any cash.
CryptZek’s Merchandise
CryptZek has no retailable services or products, with associates solely capable of market CryptZek affiliate membership itself.
CryptZek’s Compensation Plan
CryptZek associates make investments funds on the promise of marketed hourly and every day returns.
- Premium Market Plan – make investments $500 or extra and obtain a 104.5% ROI in two hours
- Silver Market Plan – make investments $300 or extra and obtain a 105% ROI in two days
- Gold Market Plan – make investments $700 or extra and obtain a 107% ROI in 5 days
- UltraModern Market Plan – make investments $1000 or extra and obtain a 109% ROI in seven days
CryptZek promote they pay referral commissions on invested funds down two ranges of recruitment:
Our associates program is so nicely paying, it could be an enormous loss to not use it!
In actual fact, we pay not only one, however 2 LEVELs deep!
The corporate nevertheless solely specifies a ten% referral fee on funds invested by personally recruited associates (degree 1).
The extent 2 referral fee price is just not offered.
Becoming a member of CryptZek
CryptZek affiliate membership is free.
Full participation within the connected earnings alternative nevertheless requires a minimal $500 funding.
CryptZek accepts each fiat and cryptocurrency fee.
Conclusion
With their lies about being registered within the US, proper off the bat CryptZek have interaction in fraud.
That follows by with the corporate’s compensation plan, which is your typical Ponzi providing.
Within the absence of any exterior verifiable income, all CryptZek are doing is recycling newly invested funds to pay current affiliate traders.
Regardless of the apparent fraudulent nature of CryptZek’s enterprise mannequin, the corporate insists it’s not a rip-off:
We’re neither providing an HYIP, MLM or Ponzi scheme.
We’re a profit-sharing enterprise serving to each other develop in a harsh economic system by offering a community that provides a novel partnership between the true money kings and companions who’re crucial to reaching our targets.
“Revenue-sharing” is MLM underbelly converse for Ponzi scheme.
If I run an funding scheme and “revenue share” newly invested funds with current traders, that’s nonetheless a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dies off so too will new funding.
That can starve CryptZek of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that once they collapse, the vast majority of individuals lose cash.