LIC token lending Ponzi scheme


Lira Coin Membership gives no info on their web site about who owns or runs the enterprise.

In truth on the time of publication, the Lira Coin Membership web site is nothing greater than an affiliate login kind.

The Lira Coin Membership web site area (“liracoin.membership”) was initially registered in August 2017.

The area registration particulars had been up to date with non-public info on August twelfth, 2018.

As all the time, if an MLM firm just isn’t brazenly upfront about who’s working or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.

Lira Coin Membership Merchandise

Lira Coin Membership has no retailable services or products, with associates solely in a position to market Lira Coin Membership affiliate membership itself.

The Lira Coin Membership Compensation Plan

Lira Coin Membership associates put money into LIC tokens.

As soon as acquired Lira Coin Membership associates “lend” their LIC factors again to the corporate, in trade for an marketed month-to-month ROI.

  • first 12 months 0 to 180 days – 3% month-to-month ROI
  • first 12 months 181 to 360 days – 2.5% month-to-month ROI
  • second 12 months 0 to 180 days – 1.5% month-to-month ROI
  • second 12 months 181 to 360 days – 1% month-to-month ROI
  • third 12 months 0 to 180 days – 0.75% month-to-month ROI
  • third 12 months 181 to 360 days – 0.5% month-to-month ROI
  • fourth 12 months 0 to 180 days – 0.4% month-to-month ROI
  • fourth 12 months 181 to 360 days – 0.3% month-to-month ROI
  • fifth 12 months onward – 0.25% month-to-month ROI

I’m conscious there’s 365/three hundred and sixty six days in a 12 months, nevertheless the figures above are offered as they seem in Lira Coin Membership’s compensation plan.

Returns are paid so long as LIC tokens are parked with Lira Coin Membership.

When an affiliate desires to withdraw, they decide to take action and both promote their LIC tokens again to the corporate or through Lira Coin Membership’s inner trade.

LIC tokens debuted at a $1 inner value in 2018. The present inner worth of LIC tokens is unknown.

Mining Returns

Along with the lending funding scheme, Lira Coin Membership additionally runs a mining funding scheme.

Lira Coin Membership associates make investments $100 to $10,800, on the promise of marketed annual returns:

  • Miner – make investments $100 and obtain a $216 return over 360 days
  • B-Miner – make investments $300 and obtain a $702 return over 360 days
  • S-Miner – make investments $1200 and obtain a $3024 return over 360 days
  • M-Miner – make investments $3600 and obtain a $9461 return over 360 days
  • G-Miner – make investments $7200 and obtain a $19,440 return over 360 days
  • T-Miner – make investments $10,800 and obtain a $31,104 return over 360 days

A 5% direct referral fee is paid on mining returns funding made by personally recruited associates.

Residual Commissions

Lira Coin Membership associates who put money into mining returns are eligible to obtain residual commissions.

Lira Coin Membership pays residual commissions through a unilevel compensation construction.

A unilevel compensation construction locations an affiliate on the high of a unilevel workforce, with each personally recruited affiliate positioned straight below them (degree 1):

If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.

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.

Residual commissions are paid on mining returns funds invested throughout the unilevel workforce.

What number of unilevel workforce ranges a Lira Coin Membership affiliate earns residual commissions on is set by how a lot they’ve invested, and what number of traders they’ve personally recruited.

  • make investments on the Miner tier and recruit a minimum of two mining returns traders = 15% on degree 1 (personally recruited associates)
  • make investments on the Miner tier and recruit a minimum of three mining returns traders = 15% on degree 1 and 10% on degree 2
  • make investments on the Mining tier and recruit a minimum of 4 mining returns traders = 15% on degree 1, 10% on degree 2 and 5% on degree 3
  • make investments on the B-Miner tier and recruit a minimum of 5 mining returns traders = 15% on degree 1, 10% on degree 2 and 5% on ranges 3 to five
  • make investments on the S-Miner tier and recruit and keep a minimum of 5 mining returns traders = 15% on degree 1, 10% on degree 2, 5% on ranges 3 to 7 and a couple of% on degree 8
  • make investments on the G-Miner tier and recruit and keep a minimum of 5 mining returns traders = 15% on degree 1, 10% on degree 2, 5% on ranges 3 to 7, 2% on degree 8 and 1% on ranges 9 and 10
  • make investments on the M-Miner tier and recruit and keep a minimum of 5 mining returns traders = 15% on degree 1, 10% on degree 2, 5% on ranges 3 to 7, 2% on degree 8 and 1% on ranges 9 to 11
  • make investments on the T-Miner tier and recruit and keep a minimum of 5 mining returns traders = 15% on degree 1, 10% on degree 2, 5% on ranges 3 to 7, 2% on degree 8 and 1% on ranges 9 to 12

Becoming a member of Lira Coin Membership

Lira Coin Membership affiliate membership is free.

Full participation within the connected MLM alternative nevertheless requires a minimal $100 to $10,800 funding.

Prices of extra funding in LIC tokens just isn’t disclosed.

Conclusion

Lira Coin Membership combines BitConnect lending mannequin with straight Ponzi funding.

The lending aspect of the enterprise mannequin is known as “staking” – however the idea is similar.

You purchase LIC tokens from Lira Coin Membership’s nameless homeowners, park the tokens with the corporate and obtain extra tokens.

Then you definitely rip-off individuals who be part of after you when it comes time to money out through the interior trade.

Lira Coin Membership itself would possibly honor some withdrawals early on, however sometimes they depend on subsequent traders to satisfy promote orders.

LIC itself is only a nugatory altcoin car to commit monetary fraud by way of.

It has no worth outdoors of Lira Coin Membership, and is marketed on typical “we’re gonna be the subsequent bitcoin!” hype.

Lira Coin Membership’s mining returns scheme is extra of a standard Ponzi scheme.

Traders dump cash in plans on the promise of particular annual returns.

The ruse behind the returns is crypto mining of some type, however no proof of mining is supplied.

Moreover Lira Coin Membership are clearly providing a number of passive funding alternatives.

This requires them to register with securities regulators in each jurisdiction they solicit funding in.

Neither on their web site or of their advertising materials is there any indication Lira Coin Membership has finished so.

With no services or products bought to retail clients, referral commissions add a further pyramid layer to the scheme.

As with all MLM Ponzi schemes, as soon as affiliate recruitment dies down so too will newly invested funds.

This may starve Lira Coin Membership of return income, finally prompting a collapse.

Being a lending scheme, Lira Coin Membership’s homeowners will do a runner lengthy earlier than traders are conscious the corporate has collapsed.

They’ll solely cotton on when withdrawal requests by way of the interior trade are left unfulfilled.

By that point it’s after all too late, leaving Lira Coin Membership associates holding one other BitConnect “sorry in your loss” nugatory rip-off coin.

 

Replace seventh June 2019 – The Italian monetary regulator CONSOB has briefly suspended promotion of LiraCoin Membership as a consequence of funding fraud.