Streakk operates in the cryptocurrency niche. The company is headed up by founder and CEO, Suki Chen.
Suki Chen’s actual name is Sukijami Chendrawan. He is believed to be an Indonesian national.
According to Chen’s Streakk bio, he’s a “seasoned entrepreneur with (a) proven track record”.
Chen’s LinkedIn profile details an early education and life insurance background. He then held a brief executive position with Odem, before the usual string of failed blockchain bro projects.
Chen appears to have reinvented himself as a blockchain bro circa late 2018.
With respect to Streakk, Chen’s LinkedIn profile represents it launched in 2019.
This is baloney. Streakk’s website domain wasn’t registered until May 21st, 2022. Streakk didn’t exist prior to May 2022.
According to his LinkedIn profile Chen, and therefore Streakk, are based out of Dubai.
Streakk’s website also provides contact details for an office in Singapore. How much of a physical presence Streakk has in Singapore is unclear.
Dubai is the MLM crime capital of the world. Any MLM company operating out of or representing ties to Dubai raises an immediate red flag.
BehindMLM’s guidelines for Dubai are:
- If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
- If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.
If you want to know specifically how this applies to Streakk, read on for a full review.
Streakk has no retailable products or services.
Affiliates can only market Streakk affiliate membership itself.
Streakk’s Compensation Plan
Streakk affiliates invest cryptocurrency on the promise of advertised returns:
- invest bitcoin and receive 7% a year
- invest ethereum and receive 10% a year
- invest tether and receive 14% a year
- invest binance coin and receive 15% a year
- invest cardano and receive 15% a year
- invest polkadot and receive 16% a year
- invest STKK (Streakk’s in house token) and receive 20% a year
- invest MATIC and receive 15% a year
Note that although Streakk advertises annual return rates, returns are paid weekly.
Streakk’s marketing suggests the minimum investment amount in any cryptocurrency is a $100 USD equivalent. $200,000 USD appears to be the maximum investment amount.
In addition to direct cryptocurrency investment, Streakk affiliates can also invest in node positions.
- Shared Node – invest $100 or more for 7 years and receive 2% a week, paid in STKK tokens
- Dedicated Node – invest $5000 or more for 7 years and receive 5% a week, paid in STKK tokens
- Dedicated Node Pro – invest $25,000 or more for 7 years and receive 8% a week, paid in STKK tokens
Streakk’s marketing suggests an additional 2% a week is paid out:
What this is paid out on or how is unclear. Also note that, as per the Streakk marketing slide above, STKK returns are locked for 100 weeks (meaning you can’t actually withdraw them for almost 2 years).
The MLM side of Streakk pays on investment by recruited affiliates.
Streakk Affiliate Ranks
There are fifteen affiliate ranks within Streakk’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Affiliate – sign up as a Streakk affiliate
- Jade – convince others to invest at least $2000 in cryptocurrency
- Pearl – convince others to invest at least $5000 in cryptocurrency
- Sapphire – convince others to invest at least $10,000 in cryptocurrency
- Sapphire 25 – convince others to invest at least $25,000 in cryptocurrency
- Ruby – convince others to invest at least $50,000 in cryptocurrency
- Emerald – convince others to invest at least $100,000 in cryptocurrency
- Diamond – convince others to invest at least $250,000 in cryptocurrency
- Double Diamond – convince others to invest at least $500,000 in cryptocurrency
- Triple Diamond – convince others to invest at least $1,000,000 in cryptocurrency
- Crown Diamond – convince others to invest at least $2,000,000 in cryptocurrency
- Royal Crown Diamond – convince others to invest at least $5,000,000 in cryptocurrency
- Vice President – convince others to invest at least $10,000,000 in cryptocurrency
- Senior Vice President – convince others to invest at least $30,000,000 in cryptocurrency
- Global President – convince others to invest at least $50,000,000 in cryptocurrency
Note that of the required amounts, only 40% of invested cryptocurrency is counted from any one recruitment leg (see “Referral Commissions” below for unilevel explanation).
Streakk pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Streakk caps payable unilevel team levels at 15.
Referral commissions are paid as a percentage of invested cryptocurrency across these 15 levels as follows:
- level 1 (personally recruited affiliates) – 15%
- level 2 – 10%
- level 3 – 7%
- levels 4 and 5 – 5%
- levels 6 and 7 – 2%
- levels 8 to 13 – 1%
- levels 14 and 15 – 2%
Rank Achievement Bonus
Streakk rewards affiliates for qualifying at Pearl and higher with the following one-time Rank Achievement Bonuses:
- qualify at Pearl and receive $200
- qualify at Sapphire and receive $400
- qualify at Sapphire 25 and receive $1000
- qualify at Ruby and receive $2000
- qualify at Emerald and receive $4000
- qualify at Diamond and receive $10,000
- qualify at Double Diamond and receive $20,000\
- qualify at Triple Diamond and receive $40,000
- qualify at Crown Diamond and receive $80,000
- qualify at Royal Crown Diamond and receive $200,000
- qualify at Vice President and receive $400,000
- qualify at Senior Vice President and receive $1,200,000
- qualify at Global President and receive $2,000,000
Streakk pays out Rank Achievement Bonuses over five months (20% each month).
Global Lifetime Pool
Streakk takes 10% of company-wide investment and places it into four smaller 2.5% Global Lifetime Pools.
Affiliates earn shares in these pools based on rank:
- Sapphire 25 to Emerald affiliates receive a share in one of the 2.5% pool
- Diamond to Triple Diamond affiliates receive a share in two of the 2.5% pools
- Crown Diamonds and Royal Crown Diamonds receive shares in three of the 2.5% pools
- Vice Presidents and higher receive a share in all four 2.5% pools
Streakk affiliate membership appears to be free.
Streakk is yet another MLM crypto Ponzi scheme, dressed up in “staking” and “annual yield” marketing.
Staking is crypto bro speak for “investing”. “Annual yield” is crypto bro speak for “annual return”.
This business model constitutes a securities offering, requiring Streakk to register with financial regulators.
SimilarWeb currently tracks top sources of traffic to Streakk’s website as France (43%), Spain (19%), Germany (10%) and Italy (5%).
Streakk is not registered to offer securities in any of these countries. This means that, at a minimum, Streakk is committing securities fraud.
MLM companies commit securities fraud because they are running Ponzi schemes.
That is to say, all Streakk are doing is recycling newly invested funds to pay off existing investors.
STKK token is a BEP-20 shit token. Streakk creates STKK on demand, allowing it to pay ridiculous returns and create monopoly money out of thin-air.
STKK launched in August 2021. Through what appears to be wash trading, Streakk pumped to $419 in late October.
Trading volume then crashed (i.e. the bot trading volume was reduced), dumping STKK to $156 in mid December. This is typical of holiday season withdrawal pressure Ponzi schemes experience.
As of mid December, STKK has pumped back up to $287. This likely corresponds with new investor recruitment.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Streakk of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
If you want to see this in action with a recently collapsed “staking” MLM crypto Ponzi, look no further than Aubit/Freeway.
Same business model, same nonsense, same inevitable losses.