WBank Pockets offers no data on their web site about who owns or runs the corporate.
WBank Pockets’s web site area (“wbankwallet.com”) was privately registered in September 2019.
Regardless of not current up till a number of months in the past, on its web site WBank Pockets represents it has been round since October 2018.
An incorporation certificates for Singapore is offered on WBank Pockets’s web site.
The incorporation corresponds to “WB Develop and Know-how PTE. LTD.”, which was registered on January twenty second, 2019.
The tackle used to include WB Develop and Know-how PTE. LTD. is a digital tackle offered by Davinci.
Two names function in WB Develop and Know-how’s incorporation, Joyce Lee and Charmaine Joshua.
Joyce Lee’s solely tie to WBank Pockets seems to be curated social media content material. I couldn’t discover something on Charmaine Joshua.
Given WB Develop and Know-how seems to be a shell firm, it’s extremely seemingly these two people don’t exist.
WBank Pockets makes use of Fiverr actors of their official YouTube advertising and marketing movies:
One video claims to symbolize a WBank Pockets occasion held in Malaysia final October.
The video itself doesn’t comprise any precise footage however does counsel WBank Pockets is being run out of Malaysia.
As all the time, if an MLM firm will not be overtly upfront about who’s operating or owns it, suppose lengthy and arduous about becoming a member of and/or handing over any cash.
WBank Pockets’s Merchandise
WBank Pockets has no retailable services or products, with associates solely in a position to market WBank Pockets affiliate membership itself.
WBank Pockets’s Compensation Plan
WBank Pockets associates deposit ethereum for WBT tokens.
As soon as acquired, WBT tokens are parked with WBank Pockets on the promise of an marketed every day return.
- 1st Bundle – make investments $100 to $300 value of ethereum and obtain a every day 0.2% to 0.5% ROI
- 2nd Bundle – make investments $3100 or extra value of ethereum and obtain a every day 0.5% to 1% ROI
WBank Pockets state on their web site that associates obtain USD they will money out at any time through an inner trade.
The final revealed WBT inner worth was 78 cents as of August 2018.
Referral Commissions are paid each on invested funds and every day returns.
Referral Commissions (funding)
WBank Pockets pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel crew, with each personally recruited affiliate positioned immediately below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
WBank Pockets caps payable unilevel crew ranges at fifty.
Referral commissions on funding are paid throughout these fifty ranges as follows:
- stage 1 (personally recruited associates) – 5%
- stage 2 (recruit a minimum of three associates who collectively have invested $500) – 3%
- stage 3 (recruit a minimum of 5 associates who collectively have invested $5000) – 2%
- ranges 4 to 50 (generate $20,000 value of funding through private recruitment) – 0.5%
Referral Commissions (returns)
WBank Pockets pays referral commissions on returns utilizing the identical fifty-level deep unilevel crew (see funding referral commissions above):
- stage 1 (personally recruited associates) – 10%
- stage 2 (generate $2000 value of funding through private recruitment) – 5%
- ranges 3 to 10 (generate $10,000 value of funding through private recruitment) – 1%
- ranges 11 to 50 (generate $20,000 value of funding through private recruitment) – 0.5%
VIP Chief Bonus
There are 5 tiers to WBank Pockets’s VIP Chief Bonus:
- Degree 1 – generate $500,000 in downline funding quantity
- Degree 2 – personally recruit three Degree 1 ranked associates
- Degree 3 – personally recruit three Degree 2 ranked associates
- Degree 4 – personally recruit three Degree 3 ranked associates
- Degree 5 – personally recruit three Degree 4 ranked associates
Corresponding VIP Chief Bonuses are as follows:
- Degree 1 – 1% bonus fee on downline every day returns
- Degree 2 – an iPhone XS Max, 2% bonus fee on downline every day returns and share in 1% of company-wide ethereum funding quantity
- Degree 3 – a Mercedes C250, 3% bonus fee on downline every day returns and share in 2% of company-wide ethereum funding quantity
- Degree 4 – a Mercedes E300, 4% bonus fee on downline every day returns and share in 3% of company-wide ethereum funding quantity
- Degree 5 – a Lamborghini Huracan, 5% bonus fee on downline every day returns and share in 5% of company-wide ethereum funding quantity
Becoming a member of WBank Pockets
WBank Pockets affiliate membership is free.
Full participation within the hooked up revenue alternative nevertheless requires a minimal $100 funding in ethereum.
Conclusion
WBank Pockets markets itself because the “hottest funding development in 2020”. That is primarily based on their declare of “good profitability 6%-30%/month”.
In actuality WBank Token is one other MLM crypto Ponzi scheme.
WBT is a nugatory ERC-20 token. It serves no objective exterior of WBank Pockets and has zero exterior demand.
Gullible WBank Pockets associates hand over ethereum for WBT tokens.
WBank Pockets’s nameless house owners generate WBT tokens on demand at little to no value, which as you possibly can think about is profitable (for them).
From there it’s the identical previous MLM crypto token Ponzi mannequin.
WBank Pockets pays returns with extra tokens they generate on demand. This is the reason they will pay referral commissions down fifty unilevel crew ranges.
They’re “paying” with nugatory tokens they click on a button to generate.
Precise invested ethereum is paid out through an inner trade.
WBank Pockets is pay out withdrawal requests for so long as new funding rolls in, and/or when the admins resolve to do a runner.
WBank Pockets’s exit-scam of selection is the general public trade itemizing.
In accordance with the corporate’s whitepaper, public trade itemizing was supposed to begin in late 2019.
Alternate Itemizing:
WBank token will endure the itemizing course of on high 10 main exchanges.
These endeavor might be accomplished inside cheap timeframe of the finalization of ICO.
So far as I can inform that by no means occurred, and the date retains getting pushed again.
For these unfamiliar with the general public trade exit-scam; usually scammers launch a nugatory token or coin. When the time involves exit-scam they listing on some dodgy exchanges and disappear.
Determined traders hype up their nugatory coin inflicting an preliminary pump. Cue high recruiters and generally the admins dumping their cash/tokens and inflicting a dump.
This ends in the vast majority of associates bagholding a nugatory coin/token they will’t do something with.
One final thing I wish to tackle is WBank Pockets’s shell registration in Singapore, in that it’s meaningless.
All MLM passive funding alternatives are securities. Securities in Singapore are regulated by the Financial Authority of Singapore. A primary incorporation will not be the equal of MAS registration.
WBank Pockets will not be registered with MAS. Nor does the corporate present proof it has registered with monetary regulators in another nation.
This implies WBank Pockets is committing securities fraud and working illegally the world over.
WBank Pockets’s nameless admins are in all probability ready for extra victims earlier than they pull the plug and trade exit-scam. Don’t be considered one of them.