Purple Mining offers no data on its web site about who owns or runs the corporate.
Purple Mining’s web site area (“purplemining.ltd”) was privately registered on September twenty ninth, 2020.
In an try to seem reliable, Purple Mining offers a UK incorporation certificates for “Purple Mining LTD” on its web site.
UK incorporation is filth 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.
On the time of publication Alexa ranks the highest three sources of visitors to Purple Mining’s web site as Venezuela (20%), Russia (10%) and Mexico (7%).
Under no circumstances conclusive, the damaged English on Purple Mining’s web site sounds a bit Russian to me:
Very good.
As at all times, if an MLM firm is just not overtly upfront about who’s working or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.
Purple Mining’s Merchandise
Purple Mining has no retailable services or products, with associates solely in a position to market Purple Mining affiliate membership itself.
Purple Mining’s Compensation Plan
Purple Mining associates make investments bitcoin on the promise of marketed returns:
- make investments 0.0005 to 10 BTC and obtain a 200% ROI over 120 hours
- make investments 0.04 to 10 BTC and obtain a 400% ROI over 96 hours
- make investments 0.5 to 100 BTC and obtain a 7000% after 7 days
Purple Mining pays referral commissions on invested funds down two ranges of recruitment (unilevel):
- 5% on degree 1 (personally recruited associates)
- 1% on degree 2
Becoming a member of Purple Mining
Purple Mining affiliate membership is free.
Full participation within the connected earnings alternative nonetheless requires a minimal 0.0005 BTC funding.
Conclusion
I really feel that 7000% week needs to be ridiculous sufficient to pause even probably the most braindead of us.
But as I write this Purple Mining has an Alexa visitors rank of 15,000 and climbing (greater = extra guests). It appears gullible buyers in Venezeula can’t get sufficient of dropping their cash to Ponzi schemes.
Purple Mining represents it generates exterior income by way of the same old ruses;
Purple Mining Restricted is a outstanding consultant of the worldwide monetary market, cryptocurrency buying and selling and mining, it’s a developer of {hardware} and provides protected investments on this space.
No proof of any exterior income era is offered. Neither is there any proof of exterior income getting used to pay withdrawals.
Because it stands the one verifiable income getting into Purple Mining is new funding, which makes it a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will ROI income.
It will see Purple Mining unable to pay withdrawal requests, prompting a collapse.
Versus the flat-out fraudulent claims made on Purple Mining’s web site…
Can I lose cash by investing right here?
No, you may’t lose cash.
…math ensures the vast majority of Ponzi contributors will lose cash.