Mining Metropolis offers no details about who owns or runs the corporate on their web site.
The Mining Metropolis web site area (“miningcity.com”) was first registered again in 2003.
The area registration was final up to date on December twentieth, 2018, which is probably going when the present proprietor(s) took possession of it.
“Prophetek” is listed because the area proprietor, by an incomplete tackle in Cyprus.
Contemplating Cyprus is a scam-friendly jurisdiction, there’s probability these particulars are faux.
A video titled “Founder MINING CITY at Funding Seminar (Vietnamese Translator) 05/2019”, was uploaded to Mining Metropolis’s official YouTube channel on Could seventeenth, 2019.
The video depicts a person with a distinctly japanese European accent presenting Mining Metropolis to a Vietnamese viewers:
As you may see, the person is known as within the backdrop but it surely’s blurry.
With a little bit of poking round I used to be capable of finding a better decision shot of the backdrop:
The founder and CEO of Mining Metropolis is Grzegorz Rogowski.
On LinkedIn Rogowski (proper) goes by Gregory. I’ve additionally seen him credited as Greg Sturdy.
In accordance with Rogowski’s LinkedIn profile he’s based mostly out of Poland. That is presumably the place Mining Metropolis is being operated from.
Prophetek began up late final 12 months and seems to be a shell firm by hooked up to Mining Metropolis.
Primarily based on his LinkedIn profile, Mining Metropolis is Rogowski’s first MLM enterprise as an govt.
Regardless of being run from Europe, Mining Metropolis is primarily concentrating on Asia of their advertising and marketing efforts.
On the time of publication Alexa ranks Japan (50%), South Korea (26%) and Vietnam (13%) as prime visitors sources to Mining Metropolis’s web site.
Learn on for a full evaluation of the Mining Metropolis MLM alternative.
Mining Metropolis Merchandise
Mining Metropolis has no retailable services or products, with associates solely capable of market Mining Metropolis affiliate membership itself.
The Mining Metropolis Compensation Plan
Mining Metropolis associates make investments funds on the promise of a ROI paid over 1100 days.
- Customary – $500
- Bronze – $1000
- Silver – $2000
- Gold – $3500
Mining Metropolis represents the extra an affiliate invests, the upper their day by day return price.
Metropolis Mining Affiliate Ranks
There are 5 affiliate ranks inside Metropolis Mining’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Citizen – enroll as a Metropolis Mining affiliate and make investments
- Metropolis Builder – recruit a minimum of 5 Residents and generate $10,000 in complete downline funding quantity
- Metropolis Developer – keep 5 personally recruited associates with an lively funding (three should be Metropolis Builders), and generate $50,000 in complete downline funding quantity
- Metropolis Supervisor – keep a minimum of 5 personally recruited associates with an lively funding (three should be Metropolis Managers), and generate a minimum of $250,000 in complete downline funding quantity
- Chief Supervisor – keep a minimum of 5 personally recruited associates with an lively funding (three should be Metropolis Managers), and generate a minimum of $2,000,000 in complete downline funding quantity
- Metropolis Mayor – keep a minimum of 5 personally recruited associates with an lively funding (three should be Chief Managers), and generate a minimum of $10,000,000 in complete downline funding quantity
Referral Commissions
Mining Metropolis pays referral commissions by way of a hybrid unilevel mannequin.
On this mannequin, associates you recruit are positioned beneath you. Associates they recruit are positioned on stage 2 of your unilevel workforce and so forth.
The hybrid nature of the mannequin sees a Mining Metropolis affiliate paid 5% of funds invested by their first 5 recruited associates.
From the sixth recruited affiliate onward who invests, 10% is paid out.
From the sixth recruited affiliate the unilevel workforce kicks in, and a number of ranges might be earned on.
- Residents obtain a 5% referral fee on as much as ten unilevel workforce ranges
- Metropolis Builders obtain a 5% referral fee on as much as fifteen unilevel workforce ranges
- Metropolis Builders obtain a 5% referral fee on as much as twenty unilevel workforce ranges
- Metropolis Managers obtain a 5% referral fee on as much as thirty unilevel workforce ranges
- Chief Managers and better obtain a 5% referral fee on all unilevel workforce ranges
Word that this can be a coded bonus, so if a Mining Metropolis just isn’t certified to obtain 5% on funds invested by their unilevel workforce, that fee is handed upline to the primary applicable level-qualified affiliate.
Becoming a member of Mining Metropolis
Mining Metropolis affiliate membership is tied to a $500 to $3500 preliminary funding.
The Mining Metropolis affiliate backoffice means that whereas funding quantities are quoted in USD, precise funding is made in bitcoin.
Conclusion
Mining Metropolis is your typical cloud mining unregistered securities funding fraud scheme.
As soon as once more you’ve received japanese European scammers concentrating on gullible Asian traders out of their cash.
The character of Mining Metropolis’s funding scheme is passive, which qualifies it as a safety.
Securities in Poland are regulated by the Polish Monetary Supervision Authority. In Japan it’s the Securities Change Surveillance Fee (a part of the FSA).
South Korea has its personal Monetary Providers Fee and in Vietnam its the State Securities Fee.
Mining Metropolis offers no proof it has registered its securities providing with any of those regulators. Or certainly with any securities regulator in any jurisdiction it solicits funding in.
This alone means Mining Metropolis is working illegally in any nation securities are regulated in (just about all of them).
Reflective of investor consciousness within the international locations they’re concentrating on, Mining Metropolis as a substitute feigns legitimacy by third-parties.
To that finish Mining Metropolis publicize partnerships with third-parties, particularly BTC.com and MineBest.
Prophetek Ltd. – the operator of Mining Metropolis is proud to announce that we’ve got procured most valued companies of MineBest Sp. z o.o. as our mining supplier.
MineBest can be developing a complete set of mining containers for unique use of MiningCity in Kazakhstan.
We can be posting details about the development and the gear on our social media channels.
I can’t stress this strongly sufficient: social media advertising and marketing just isn’t an alternative to legally required regulatory registration.
One of many key causes for it is because regulatory registration requires firms providing passive funding alternatives to file proof (usually audited accounting), proving they’re utilizing exterior income to pay their traders.
To be clear: I’m not disputing any partnerships Mining Metropolis claims it has. I’m stating that from a regulatory and due-diligence perspective, they’re irrelevant.
Signing a contract with a third-party just isn’t proof of exterior income (from any supply) getting used to pay returns.
Mining Metropolis would possibly very properly generate some income from mining, however there’s no manner of verifying whether or not this income is getting used to pay returns.
Because it stands the one verifiable income getting into Mining Metropolis is new funding.
Utilizing new funding to pay present traders in any capability would make Mining Metropolis a Ponzi scheme.
On prime of that they’re additionally working a pyramid scheme, by the use of nothing being marketed to or offered to retail clients.
As with all MLM Ponzi and pyramid schemes, as soon as affiliate recruitment slows down so too will new funding.
This may starve Mining Metropolis of ROI income, finally prompting a collapse.
The mathematics behind Ponzi and pyramid schemes ensures that once they collapse, the vast majority of members lose cash.
One remaining level I need to contact on is is that based on his LinkedIn profile, Grzegorz Rogowski labored as Vice President of Advertising for MineBest from August to October 2018.
One month later he launched Prophetek and presumably set about placing collectively Mining Metropolis.
MineBest is run by proprietor and CEO Eyal Avramovich (proper).
MineBest’s web site area was on the market up till just a few months in the past. It was bought by Avramovich on or round April 2019.
I’m unsure what’s up with Rogowski’s LinkedIn profile, however MineBest because it exists at the moment solely got here into existence just a few months in the past.
To summarize; We have now a brand new cloud mining firm no one has ever heard of, making a bunch of guarantees about organising mining services in Kazakhstan.
Earlier than any of that truly exists although, we’ve got Mining Metropolis already soliciting funding 1100 day returns, purportedly from mining exercise.
Riiiiiiiiiiiight.
Replace thirteenth July 2020 – Following modifications to Mining Metropolis’s compensation plan and the launch of BitCoin Vault (BTCV), BehindMLM revealed an up to date Mining Metropolis evaluation on July twelfth, 2020.