GrenMiner offers no info on its web site about who owns or runs the corporate.
GrenMiner’s web site area (“grenminer.com”), was privately registered on March nineteenth, 2022.
In an try to look respectable, GrenMiner offers incorporation particulars for “GrenMiner Restricted”.
GrenMiner Restricted was included within the UK on March twenty second, 2022.
An MLM firm working or claiming to function out of the UK is a pink flag.
UK incorporation is dust low-cost and successfully unregulated. On prime of that the FCA, the UK’s prime monetary regulator, don’t actively regulate MLM associated securities fraud.
In consequence the UK is a popular jurisdiction for scammers trying to incorporate, function and promote fraudulent firms.
For the aim of MLM due-diligence, incorporation within the UK or registration with the FCA is meaningless.
Within the source-code of GrenMiner’s web site we discover reference to Jivo, a Russian assist chat app:
This strongly suggests whoever is operating GrenMiner has ties to Russia.
To that finish the Central Financial institution of Russia issued a GrenMiner monetary fraud warning on June ninth.
As all the time, if an MLM firm is just not overtly upfront about who’s operating or owns it, assume lengthy and onerous about becoming a member of and/or handing over any cash.
GrenMiner’s Merchandise
GrenMiner has no retailable services or products.
Associates are solely capable of market GrenMiner affiliate membership itself.
GrenMiner’s Compensation Plan
GrenMiner associates make investments 001 to 2 bitcoin or equal on the promise of hourly and/or day by day returns:
- 4.5% an hour for twenty-four hours (108%)
- 115% in 24 hours
- 270% after 5 days or
- 2450% after 16 days
GrenMiner pays referral commissions on invested bitcoin down three ranges of recruitment (unilevel):
- stage 1 (personally recruited associates) – 6%
- ranges 2 and three – 1%
Becoming a member of GrenMiner
GrenMiner affiliate membership is free.
Full participation within the hooked up revenue alternative requires a 0.001 BTC funding or equal.
GrenMiner solicits funding in bitcoin, ethereum, litecoin, dogecoin, ripple, binance coin, tron, stellar and tether.
GrenMiner Conclusion
GrenMiner represents it generates exterior income through cryptocurrency mining.
Our firm Grenminer Restricted is engaged in mining, in addition to the sale of all forms of chips for mining units.
Though its taken a backseat to buying and selling, crypto mining nonetheless a typical MLM crypto Ponzi ruse.
GrenMiner offers no proof it’s engaged in crypto mining exercise. Extra importantly, there is no such thing as a proof exterior income of any sort is getting used to fund affiliate withdrawals.
Moreover GrenMiner’s enterprise mannequin fails the Ponzi logic take a look at. Anybody able to legitimately producing something near 2450% each 16 days isn’t sharing it with you for gratis.
Because it stands the one verifiable income coming into GrenMiner is new funding.
Utilizing new funding to pay affiliate withdrawals makes GrenMiner a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve GrenMiner of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that once they collapse, nearly all of contributors lose cash.