EtherConnect supplies no info on its web site about who owns or runs the corporate.
EtherConnect’s web site area (“etherconnect.co”) was privately registered on January twelfth, 2021.
From its firm emblem to its advertising and marketing materials, EtherConnect represents itself as a reboot of the infamous BitConnect Ponzi scheme.
The next is from EtherConnect’s official advertising and marketing presentation;
As everybody is aware of that Bitconnect restricted closed it operation around the globe because of Authorities Regulation in 2018, However now Bitconnect is again with full authorized registration in Estonia & United Kingdom with its sturdy group.
Bitconnect is launching its new up to date platform Etherconnect.
Though it’s possible that whoever is behind EtherConnect was concerned in BitConnect, I’m uncertain its the identical house owners.
BitConnect was an MLM crypto Ponzi scheme launched in 2016.
In early 2018 BitConnect attracted the eye of US regulators in Texas and North Carolina, prompting its prime US promoter Glenn Arcaro to flee.
Arcaro, who’s believed to have stolen hundreds of thousands via BitConnect, stays in hiding.
Per week after Arcaro fled, BitConnect collapsed.
Over the approaching months Trevon James, one in all Arcaro’s accomplices, confirmed an FBI investigation into BitConnect.
Craig Grant, one other of Arcaro’s accomplices, later confirmed the SEC had been additionally investigating.
In late 2018 a report out of India advised US authorities had been trying to get better $5.6 billion from Indian nationals Satish Kumbhani and Divyesh Darji.
Kumbhani and Darji are believed to be the architects of BitConnect.
Darji was arrested by Indian authorities in August 2018. Satish Kumbhani was arrested in June 2019.
Studies out of India revealed the FBI had despatched brokers to interrogate Kumbhani following his arrest.
In February 2019 the FBI instantly reached out to BitConnect victims.
Since 2019 there have been no vital public developments from US authorities with respect to BitConnect.
The present standing of any ongoing US investigations into BitConnect is unknown.
Given this, I’m extremely uncertain any of the BitConnect OG crew are behind EtherConnect.
They already stole billions. It is mindless to return with a clone rip-off.
On the time of publication Alexa ranks the US as the first supply of visitors to EtherConnect’s web site (85%).
Learn on for a full assessment of EtherConnect’s MLM alternative.
EtherConnect’s Merchandise
EtherConnect has no retailable services or products, with associates solely capable of market EtherConnect affiliate membership itself.
EtherConnect’s Compensation Plan
EtherConnect associates purchase ECC cash from EtherConnect.
EtherConnect don’t publish the present inside ECC worth on their web site. Advertising and marketing displays from mid February nevertheless peg the inner ECC worth at 10 cents.
As soon as acquired, ECC cash are parked with EtherConnect on the promise of a month-to-month return.
- make investments $50 to $1000 in ECC and obtain 10% a month
- make investments $1001 to $5000 in ECC and obtain 13% a month
- make investments $5001 to $10,000 in ECC and obtain 16% a month
- make investments $10,001 to $100,000 in ECC and obtain 17.5% a month
As soon as invested (staked) with EtherConnect, ECC is locked for one year.
EtherConnect Affiliate Ranks
There are seven affiliate ranks inside EtherConnect’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll as an EtherConnect affiliate and put money into ECC
- Racer – persuade others to take a position $50,000 in ECC, max 30% from anybody unilevel leg
- Gladiator – have two Racers in two separate unilevel crew legs and persuade others to take a position $175,000 in ECC
- Twister – have two Gladiators in two separate unilevel crew legs and persuade others to take a position $400,000 in ECC
- Hurricane – have two Tornadoes in two separate unilevel crew legs and persuade others to take a position $1,000,000
- Cyclone – have two Typhoons in two separate unilevel crew legs and persuade others to take a position $3,000,000
- Black Panther – have two Cyclones in two separate unilevel crew legs and persuade others to take a position $10,000,000
Referral Commissions
EtherConnect pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned instantly underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel crew.
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.
EtherConnect caps payable unilevel crew ranges at ten.
Referral commissions are paid out as a proportion of ECC invested throughout these ten ranges as follows:
- degree 1 (personally recruited associates) – 8%
- degree 2 – 3%
- degree 3 – 2%
- degree 4 – 1%
- ranges 5 to eight – 0.5%
- ranges 9 and 10 – 0.25%
Observe that the what number of ranges referral commissions are earned on is decided by private recruitment:
- recruit one EtherConnect affiliate investor to qualify for referral commissions on 4 unilevel crew ranges
- recruit two EtherConnect affiliate traders to qualify for referral commissions on seven unilevel crew ranges
- recruit three EtherConnect affiliate traders to qualify for referral commissions on all ten unilevel crew ranges
Though not explicitly clarified, I imagine EtherConnect pays referral commissions in ECC.
ROI Match
EtherConnect pays a ROI match utilizing the identical unilevel crew used to referral commissions (particulars above).
The ROI match is paid each day and is capped to 5 unilevel crew ranges.
- degree 1 (personally recruited associates) – 10% match
- degree 2 – 5%
- ranges 3 and 4 – 3%
- degree 5 – 1%
As with referral commissions, EtherConnect associates should qualify for ROI match ranges via private recruitment:
- recruit one EtherConnect affiliate investor to earn a ROI match on degree 1
- recruit two EtherConnect affiliate traders to earn a ROI match on degree 2
- recruit three EtherConnect affiliate traders to earn a ROI match on ranges 3 to five
Like referral commissions, I imagine the ROI match is paid in ECC.
Rank Rewards
EtherConnect rewards associates for rank qualifying as follows:
- qualify at Racer and obtain 1% a month for six months
- qualify at Gladiator and obtain 1.2% per 30 days for six months
- qualify at Twister and obtain 1.3% a month for six months
- qualify at Hurricane and obtain 1.4% a month for (undisclosed)
- qualify at Cyclone and obtain 1.4% a month for six (undisclosed)
- qualify at Black Panther and obtain 1% a month “for lifetime”
Though not clarified, I imagine the above percentages are an added bonus on prime of the ECC funding ROI price.
Becoming a member of EtherConnect
EtherConnect affiliate membership is free.
To take part within the hooked up earnings alternative nevertheless, a required minimal $50 funding in ECC is required.
Observe that though USD quantities are quoted, EtherConnect solicits funding in ECC through equal ethereum quantities.
Conclusion
Though it riddles its advertising and marketing pitch with DeFi buzzwords, EtherConnect is not any totally different to its 2017 BitConnect predecessor.
DeFi stands for “decentralized finance”. Within the MLM crypto area of interest, it’s merely an excuse to ramp up already extreme use of crypto jargon.
Etherconnect group enhanced the crypto finance platform & merged the DeFi protocol with the governance protocol.
This may assist us to search out the independence of all need, Etherconnect group of like-minded, freedom loving people.
Etherconnect connecting the opportunity of earnings stability in a really unstable method.
All you have to know is ECC is an ERC-20 shit token that took EtherConnect’s house owners a few minutes to arrange.
ECC Coin is a steady coin and this can be enhance each month 10% to 40% From the date of launch.
ECC is not any distinction to BitConnect’s BCC, which additionally began out as an ERC-20 shit token.
Along with solely taking a few minutes to arrange, creating an ERC-20 tokens prices subsequent to nothing.
Returns are presently being paid from EtherConnect’s inside trade. Returns are funded by subsequent ECC funding, making EtherConnect a Ponzi scheme.
Like BitConnect did, EtherConnect plans to finally cease paying out invested ethereum and dump on a public trade.
Primarily based on EtherConnect’s advertising and marketing representations, this may happen via Binance.
Whether or not that occurs or not, who is aware of. And it doesn’t actually matter.
EtherConnect is a Ponzi scheme and, as BitConnect’s traders learnt, the vast majority of individuals in Ponzi schemes are assured to lose cash.
As soon as they determine they’ve received sufficient stashed away, which can or might not coincide with regulatory warmth, EtherConnect’s house owners will do a runner.
Cue the identical mess that adopted BitConnect’s 2018 collapse.
Replace twentieth June 2021 – EtherConnect has begun its shitcoin manufacturing unit, beginning with the pending launch of Ether Yielf Farming (EYFI).