Failed blockchain co. launches 300% Ponzi

Tectum operates within the cryptocurrency MLM area of interest.

The corporate represents it’s a part of CrispMind LTD. CrispMind purportedly has each US and European workplaces.

Tectum’s offered Illinois company suite deal with is shared by various different corporations, suggesting it’s digital in nature. Tectum’s European workplace is represented to be in Eire.

Tectum’s web site has an “our crew” part, on which fourteen people are listed.

In what seems to be a UI design failure, govt roles aren’t out there except you click on by means of on every crew member’s identify.

I wasted my time clicking by means of each offered Tectum crew member’s profiles, solely to search out who really owns and runs the corporate isn’t disclosed.

The one identify I acknowledged of Tectum’s fourteen crew members was David Observe.

BehindMLM famous David Observe (proper), as founder and President of PrepayCPA in 2011.

PrepayCPA is lengthy gone. Questioning what Observe has since been as much as, I headed over to his LinkedIn profile.

Along with working Observe Firms, who “focus on high-risk service provider bank card providers”, Observe was Senior Vice President of Progress & Technique for Tryp.

BehindMLM reviewed Tryp in January 2019, noting a pyramid enterprise mannequin with an unlawful inventory providing.

Tryp collapsed as an MLM firm in January 2020.

Observe seems to have reinvented himself as a crypto bro in 2020. Observe’s LinkedIn cites him as a Bitlocity “Member of the Board of Advisors”.

Bitlocity was an MLM crypto gifting pyramid scheme. The rip-off collapsed in early 2021.

In late 2021 Observe jumped on the NFT grift bandwagon as co-founder of NFT Tycoons.

That went nowhere, main Observe to signal on as Tectum’s Director of Mass Adoption in April 2022.

Nonetheless desirous to know who was working Tectum, my subsequent port of name was CrispMind’s web site.

There I discovered Alex Guseff (proper) is CEO of CrispMind. Presumably this implies Guseff can be working Tectum.

Guseff is the final Tectum crew member listed on their web site. Why his working of the corporate isn’t disclosed is unclear.

Guseff seems to be a random crypto bro from Russia. Versus both the US or Eire, a June 2020 PR puff piece on Medium locations Crispmind in Kazan, Russia.

Alexander Guseff is a profession software program improvement govt from Crispmind, a software program improvement startup positioned in Kazan, Russia.

Why Crispmind and Tectum are pretending to be primarily based out of the US and Eire can be unclear.

SimilarWeb at present ranks prime sources of visitors to Tectum’s web site because the UK (37%), Russia (31%), Switzerland (20%) and Canada (7%).

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

Tectum’s Merchandise

Tectum has no retailable services or products.

Associates are solely in a position to market Tectum affiliate membership itself.

Tectum’s Compensation Plan

Tectum associates put money into Tectum token (TET).

TET is then used to buy SoftNote licenses, by means of which Tectum advertises an “as much as” 300% annual return.

SoftNote licenses are bundled in packages costing between $1 and $500,000:

We’ll get into what SoftNote is within the conclusion of the evaluate.

The MLM aspect of Tectum pays on recruitment of affiliate traders.

Referral Commissions

Tectum associates earn a ten% fee on SoftNote license funding by personally recruited associates.

Residual Commissions

Tectum pays a 5% residual fee on SoftNote license funding down three ranges of recruitment (unilevel).

If a Tectum affiliate qualifies as a Staff Chief, they earn residual commissions down six ranges of recruitment:

  • stage 1 (personally recruited associates) – 10%
  • stage 2 – 5%
  • stage 3 – 4%
  • stage 4 – 3%
  • stage 5 – 2%
  • stage 6 – 1%

Staff Chief qualification requires a Tectum affiliate to persuade others to speculate $100,000 in TET.

Regional Chief Bonus

Tectum takes 5% of company-wide SoftNote license funding and pays it out to Tectum Regional Leaders.

Tectum doesn’t present Regional Chief qualification standards.

Becoming a member of Tectum

Tectum affiliate membership seems to be free.

Full participation in Tectum requires funding in TET tokens.

TET is at present being internally offered to Tectum associates at $2.50 every.

Tectum Conclusion

Tectum’s crypto declare to fame is having “the world’s quickest blockchain”.

Don’t know if that’s true, and it doesn’t matter.

Some random firm creating the world’s quickest blockchain is like constructing a freeway to nowhere with out velocity limits.

No person cares.

Possible determined to get well no matter they’ve sunk into the failed mission, we now have CrispMind repurposing Tectum as a 300% ROI Ponzi scheme.

The ruse behind Tectum’s Ponzi scheme is funding in SoftNote licenses.

Earlier than we get into that we must always discover why CrispMind and Tectum, corporations which have seemingly been round for some time, are launching a Ponzi scheme.

Referencing the Medium puff piece article cited within the introduction of this evaluate, we study;

For over seven years, a crew of mathematicians, programmers & AI specialists in Russia have been perfecting the lightning-fast logistical Tectum Blockchain — and it’s lastly prepared for prime-time.

That piece was written in 2020, so scammers in Russia have purportedly been engaged on this since ~2013.

I don’t imagine that, seeing as Tectum’s web site area was registered in 2018. CrispMind’s personal web site was registered in 2019.

I additionally need to be aware that within the Medium article, Alexander Guseff is cited as a Tectum software program govt.

I joined the crew a couple of yr and half in the past, and after I began writing a white paper on it.

I don’t know when Guseff was promoted to CEO of Tectum and CrispMind.

In any occasion, this presents us with two situations:

  1. Tectum is being run by unknown Russian scammers and Guseff is a puppet govt; or
  2. Guseff is mendacity and has been behind Tectum and CrispMind all alongside.

Both situation raises crimson flags.

Whereas I can’t rule out Tectum is a continuation of different failed blockchain initiatives (that is fairly widespread), it definitely didn’t exist previous to 2018 on the earliest.

Previous to becoming a member of CrispMind and Tectum in 2019, Guseff ran a mobile phone restore store in Russia.

Not being upfront in regards to the origins of CrispMind and Tectum is one other crimson flag.

With that out of the way in which, again to Tectum’s SoftNote license Ponzi scheme.

SoftNote is a crypto pockets connected to Tectum.

SoftNote is the flagship product of Tectum and is positioned as the primary transactionless cost system boasting actually instantaneous cost capabilities and zero-fee coverage for an finish consumer, transactionless signifies that no transaction really takes place on native community.

SoftNote is extra nameless than Bitcoin pockets as a result of BTC transaction can’t be traced by public deal with.

The cost just isn’t registered within the native community ledger whereas the stability is handed over.

TL;DR: SoftNote guarantees anonymity on the blockchain. Excellent for working a Ponzi scheme by means of.

The license baloney is simply that, baloney. It clearly is senseless for traders to be dumping hundreds of {dollars} in licenses for a freely out there crypto pockets.

The SoftNote license ruse after all isn’t imagined to make sense although, it’s a paper-thin Ponzi advertising and marketing ruse. Tectum traders aren’t supposed to consider it.

And the true kicker is SoftNote hasn’t even launched but.

As soon as the SoftNote System has launched, value of a TET will probably be outlined by income of Mint Licenses being bought everywhere in the world.

Up within the compensation part of this evaluate, I offered a chart on Tectum license package deal funding.

The doc that chart is from dates again to late 2021.

The Pre-sale provide began on September fifteenth 2021 and is legitimate by means of April fifteenth 2022.

The preliminary Ten Million SoftNote Payments will probably be minted on or earlier than October thirty first 2021 by Genesis Good Contract as one-time occasion and distributed amongst Minting License Holders.

Initially SoftNote Payments are going to be priced at 1% of its face worth (see under) as of September fifteenth 2021 with anticipated gradual value improve as demand grows. SoftNote profitability doubtlessly permits for as much as 5% value improve.

Pre-sale Supply ends in April 2022.

This’d be when the early scammers had been onboarded, with most people now anticipated to fatten their wallets.

The preliminary presale section 1 of the Tectum Token (TET) had a value of $1 and a pair of.5 million TET had been offered. TET tokens at section 2 had been then offered for $2. We are actually in section 3 with TET priced at $2.5.

Not surprisingly, to promote the rip-off Tectum’s web site and advertising and marketing materials are draped in guarantees of riches:

This is a superb funding that may will let you obtain as much as 300% every year.

MLM corporations advertising and marketing passive funding alternatives represent a securities providing.

In representing it’s primarily based out of the US, and having at the very least one US govt (David Observe’s LinkedIn locations him in Delaware), Tectum’s securities providing falls underneath the jurisdiction of the SEC.

A search of the SEC’s Edgar database reveals neither CrispMind, Tectum, Alexander Guseff or David Observe are registered with the SEC.

Which means, at a minimal, all events concerned are committing securities fraud.

MLM corporations committing securities fraud lend themselves to working Ponzi schemes.

The present value of TET is the equal of $2.00 quickly to start out going up, leveling to $7.60 on the level of reaching the Mushy Cap – the Unlock; when the SoftNote System has launched the value of TET will begin being outlined by the profitability of Mint License and that’s when it can go to the MOON.

In lieu of registering monetary regulators and submitting legally required audited monetary experiences, Tectum claims its been vetted by “main American and Canadian auditors”.

Placing apart the declare most definitely being baloney, this isn’t an alternative choice to registering with regulators and working legally.

Taking CrispMind and Tectum’s monetary fraud one step additional, the corporate isn’t registered to supply securities in any jurisdiction.

This contains the UK, Russia Switzerland and Canada, international locations Tectum is primarily being promoted in.

As with all MLM Ponzi schemes, as soon as Tectum affiliate recruitment dries up so too will new funding.

It will go away Tectum unable to pay TET token withdrawals, ultimately resulting in a collapse.

The mathematics behind Ponzi schemes ensures nearly all of contributors will lose cash.