ETH-X gives no data on its web site about who owns or runs the corporate.
ETH-X’s web site area (“ethx2.io”) was privately registered on October 1st, 2020.
In an try to look professional, ETH-X gives a UK incorporation certificates in its compensation plan. “ETH.X Group” was integrated within the UK on October 2nd, 2020.
UK incorporation is dust low cost and successfully unregulated. It’s a favored jurisdiction for scammers seeking to incorporate dodgy firms.
For the aim of performing MLM due-diligence, UK incorporation is meaningless.
Buried in ETH-X’s web site source-code are references to “tronex”:
Tronex was a smart-contract Ponzi scheme. After just lately collapsing, it has been rebooted as Tronex World.
The presence of Tronex is ETH-X’s web site source-code suggests the identical scammers are behind each schemes.
As all the time, if an MLM firm will not be overtly upfront about who’s operating or owns it, assume lengthy and arduous about becoming a member of and/or handing over any cash.
ETH-X’s Merchandise
ETH-X has no retailable services or products, with associates solely capable of market ETH-X affiliate membership itself.
ETH-X’s Compensation Plan
ETH-X associates make investments ethereum on the promise of a 1% day by day ROI.
To qualify for the ROI every ETH-X affiliate should recruit three associates, who in flip collectively have invested at the very least 3 ETH.
A bonus 0.1% is paid for each hour an ETH-X affiliate declines to withdraw invested funds and/or their ROI steadiness.
Word that between the day by day ROI and non-withdrawal bonus, ETH-X caps the full return paid on an funding at 200%.
As soon as 200% is reached, a brand new funding have to be made as a way to proceed incomes.
Referral Commissions
ETH-X pays referral commissions down three ranges of recruitment (unilevel):
- degree 1 (personally recruited associates) – 5%
- degree 2 – 3%
- degree 3 – 2%
Becoming a member of ETH-X
ETH-X affiliate membership is free.
Full participation within the hooked up revenue alternative nevertheless requires funding in ethereum.
No minimal funding quantity is offered both on ETH-X’s web site or of their compensation materials.
Conclusion
Bizarrely, ETH-X presents itself as a substitute for the yet-to-be-released ethereum 2.0, a rolling out improve to ethereum.
We introduce ETHX, a modern-age various to Eth2.0 that takes Ethereum Community to a brand new degree, making certain it scalability, safety and cost-efficiency.
In actuality ETH-X is simply one other smart-contract Ponzi scheme.
You enroll, you make investments ethereum and ETH-X makes use of invested funds to pay withdrawal requests. Calculated returns and commissions are made-up except a withdrawal request is put in.
The recycling of invested funds to pay withdrawal requests is what makes ETH-X a Ponzi scheme. Cost on funds invested by recruited associates provides a pyramid layer to the scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dies down so too will new funding.
This may starve ETH-X of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, the vast majority of contributors lose cash.