World Crypto Life supplies no details about who owns or runs the corporate on its web site.
World Crypto Life’s web site area (“worldcryptolife.com”) was first registered in July 2020. The personal registration was final up to date on July twenty third, 2021.
Additional analysis reveals Francis Yoon citing himself as CEO of World Crypto Life on LinkedIn.
In response to Yoon’s LinkedIn profile, he’s primarily based out of California within the US.
Previous to launching World Crypto Life in mid 2020, Yoon (proper) was CFO of Epika International.
Epika International seems to be a failed crypto bro enterprise.
Curiously sufficient, regardless of solely citing himself as CFO of Epika International, Yoon seems to have owned and run the corporate.
Yoon was the only Director of Epika International, an deserted Californian company. I wasn’t capable of finding every other Epika International executives.
I did discover one different World Crypto Life government, Chris Principe.
Principe made a reputation for himself as a staunch supporter of the OneCoin Ponzi scheme.
Once I first heard about OneCoin, I believed it was both a rip-off or a pyramid scheme.
After researching additional and getting a chance to interview Dr. Ignatova, I used to be completely impressed with the expertise backing OneCoin and their block chain, in addition to enthusiastic about their imaginative and prescient for immediately’s financial system.
OneCoin collapsed in early 2017. Founder Ruja Ignatova and several other executives are dealing with felony fees within the US.
After OneCoin, Principe struck up a PR deal with the infamous Russian Ponzi scheme Skyway Capital.
Skyway Capital backed out of the deal, citing Principe’s involvement in OneCoin.
We learnt this by a defamation lawsuit Principe filed in opposition to distinguished OneCoin critic Timothy Curry.
The lawsuit was confidentially settled in April 2018.
Now Principe has popped up as World Crypto Life’s Chief Working Officer:
Learn on for a full evaluate of World Crypto Life’s MLM alternative.
World Crypto Life’s Merchandise
World Crypto Life has no retailable services or products.
World Crypto Life associates are solely in a position to market World Crypto Life affiliate membership itself.
World Crypto Life’s Compensation Plan
World Crypto Life associates put money into IMC and IMEX shares.
- Member – make investments $100 and obtain $100 value of IMC
- Elite Member – make investments $500 and obtain $500 value of IMC
- VIP Member – make investments $2000 and obtain $2000 value of IMC
- IMEX5 – make investments $5000 and obtain $2500 value of IMC and 5000 IMEX shares
- IMEX10 – make investments $10,000 and obtain $5000 value of IMC and 10,000 IMEX shares
- IMEX25 – make investments $25,000 and obtain $12,500 value of IMC and 25,000 IMEX shares
That is performed on the expectation affiliate buyers will have the ability to ultimately money out greater than they invested.
To favor early buyers and permit them money out subsequently invested funds, World Crypto Life locks up new investments for six months.
Thereafter invested in tokens are launched at a fee of 10% every month.
The MLM aspect of World Crypto Life pays on the recruitment of recent affiliate buyers.
Observe that World Crypto Life pays all commissions and bonuses as follows:
- 70% is paid in Gpoints
- 30% is paid in IMC (not locked)
Gpoints are one other layer of inner factors used inside World Crypto Life (mentioned additional within the evaluate conclusion beneath).
One different observe – for the aim of commissions and bonus calculation, World Crypto Life counts invested funds at 80%.
World Crypto Life Affiliate Ranks
There are 5 affiliate ranks inside World Crypto Life’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- 1 Star – enroll at or improve to the Elite Member tier or increased and generate $2000 in accrued weaker binary crew aspect quantity
- 2 Star – enroll at or improve to the VIP tier or increased and generate $10,000 in accrued weaker binary crew aspect quantity
- 3 Star – enroll at or improve to the IMEX5 tier or increased and generate $100,000 in accrued weaker binary crew aspect quantity
- 4 Star – enroll at or improve to the IMEX10 tier or increased and generate $500,000 in accrued weaker binary crew aspect quantity
- 5 Star – enroll at or improve to the IMEX25 tier and generate $1,000,000 in accrued weaker binary crew aspect quantity
Recruitment Commissions
World Crypto Life pays recruitment commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned straight beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel crew.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
World Crypto Life caps recruitment commissions at six unilevel crew ranges.
What number of ranges recruitment commissions are earned on is decided by how a lot a World Crypto Life affiliate invests:
- make investments on the Member tier and obtain 10% on degree 1 (personally recruited associates)
- make investments on the Elite Member tier and obtain 10% on degree 1 and 5% on degree 2
- make investments on the VIP Member tier and obtain 10% on degree 1, 5% on degree 2 and 4% on degree 3
- make investments on the IMEX5 tier and obtain 10% on degree 1, 5% on degree 2, 4% on degree 3 and three% on degree 4
- make investments on the IMEX10 tier and obtain 10% on degree 1, 5% on degree 2, 4% on degree 3, 3% on degree 4 and a pair of% on degree 5
- make investments on the IMEX25 tier and obtain 10% on degree 1, 5% on degree 2, 4% on degree 3, 3% on degree 4, 2% on degree 5 and 1% on degree 6
Residual Commissions (binary)
A binary compensation construction locations an affiliate on the prime of a binary crew, break up into two sides (left and proper):
The primary degree of the binary crew homes two positions. The second degree of the binary crew is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary crew are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary crew are crammed by way of direct and oblique recruitment of associates. Observe there isn’t a restrict to how deep a binary crew can develop.
On the finish of every day World Crypto Life tallies up new funding quantity on each side of the binary crew.
Associates are paid 10% to fifteen% of funds invested on their weaker binary crew aspect.
Precise residual fee payouts are decided by how a lot a World Crypto Life affiliate invests after they enroll:
- Member – 10% residual fee fee, capped at $100 a day
- Elite – 11% residual fee fee, capped at $500 a day
- VIP – 12% residual fee fee, capped at $1000 a day
- IMEX5 – 13% residual fee fee, capped at $2000 a day
- IMEX10 – 14% residual fee fee, capped at $5000 a day
- IMEX25 – 15% residual fee fee, capped at $10,000 a day
As soon as weaker binary crew aspect quantity has been paid out on, it’s matched in opposition to the stronger binary crew aspect and flushed.
Any leftover quantity on the stronger binary crew aspect carries over.
Observe {that a} World Crypto Life affiliate should recruit two investing associates to qualify for residual binary commissions.
Residual Commissions (matrix)
World Crypto Life pays residual matrix commissions by way of a 3×15 matrix.
A 3×15 matrix locations an affiliate on the prime of a matrix, with three positions straight beneath them:
These three positions type the primary degree of the matrix. The second degree of the matrix is generated by splitting these first three positions into one other three positions every (9 positions).
Ranges three to fifteen of the matrix are generated in the identical method, with every new degree housing thrice as many positions because the earlier degree.
Residual matrix commissions are paid as a proportion of funds invested month-to-month throughout the matrix.
What number of matrix ranges a World Crypto Life affiliate earns on, is once more decided by how a lot they invested after they signed up:
- make investments on the Member tier and obtain 1% on matrix ranges 1 to five
- make investments on the Elite tier and obtain 1% on matrix ranges 1 to 7
- make investments on the VIP tier and obtain 1% on matrix ranges 1 to 9
- make investments on the IMEX5 tier and obtain 1% on matrix ranges 1 to 11
- make investments on the IMEX10 tier and obtain 1% on matrix ranges 1 to 13
- make investments on the IMEX25 tier and obtain 1% on matrix ranges 1 to fifteen
Rank Achievement Bonus
World Crypto Life rewards associates for reaching accrued weaker binary crew aspect funding targets.
- qualify at 1 Star and obtain $250
- qualify at 2 Star and obtain $1000
- qualify at 3 Star and obtain $10,000
- qualify at 4 Star and obtain $20,000
- qualify at 5 Star and obtain $50,000
Gpoint Market Bonus
World Crypto Life takes 20% of income generated of their GpointMarket platform and makes use of it to fund the Gpoint Market Bonus pool.
The 20% Gpoint Market Bonus pool is break up into 5 rank corresponding smaller swimming pools as follows:
- 1 Star ranked associates obtain a share in a 5% pool
- 2 Star ranked associates obtain a share in a 5% pool
- 3 Star ranked associates obtain a share in a 5% pool
- 4 Star ranked associates obtain a share in a 3% pool
- 5 Star ranked associates obtain a share in a 2% pool
International Bonus Pool
World Crypto Life takes 3% of company-wide income and locations it into the International Bonus Pool.
The three% International Bonus Pool is break up into 5 rank corresponding smaller swimming pools as follows:
- 1 Star ranked associates obtain a share in a 1% pool
- 2 Star ranked associates obtain a share in a 1% pool
- 3 Star ranked associates obtain a share in a 0.5% pool
- 4 Star ranked associates obtain a share in a 0.3% pool
- 5 Star ranked associates obtain a share in a 0.2% pool
Becoming a member of World Crypto Life
World Crypto Life affiliate membership requires an preliminary $100 to $25,000 funding:
- Member – $100
- Elite Member – $500
- VIP Member – $2000
- IMEX5 – $5000
- IMEX10 – $10,000
- IMEX25 – $25,000
Conclusion
Along with his Epika International crypto bro platform failing, Francis Yoon has gone full blown crypto Ponzi scheme with World Crypto Life.
From what I’ve been in a position to collect, Epika International primarily scammed buyers in Vietnam and Japan.
Given World Crypto Life launched proper after Epika International collapsed, it’s extremely seemingly victims had been carried over as early buyers.
To that finish I need to emphasize in case you didn’t “get in early” mid final yr and put money into IMC at 10 cents, you’re bait for the inevitable IMC dump.
The present precise IMC inner worth just isn’t offered on World Crypto Life’s or its IMC token web site.
I ought to level out right here that there’s an Estonian shell firm working IMCoin. This has nothing to do with World Crypto Life’s IMC token.
On the in home trade IM Alternate, World Crypto Life lists IMC at 39 cents. Curiously sufficient there’s no quantity, suggesting the one buying and selling of IMC is going on by World Crypto Life.
That’s actual cash is invested into World Crypto Life and solely IMC comes out.
In what seems to a ploy to deduce approval of US authorities, World Crypto Life makes an ideal deal about Wyoming.
In a World Crypto Life advertising and marketing video, it is usually said that IM Alternate is “is on the way in which to be operated within the state of Wymoning, USA”.
In that very same advertising and marketing video, the ties between World Crypto Life, IMC and IM Alternate are actually hammed up.
[0:53] We’re working intently with state legislatures, just like the state of Wyoming; essentially the most crypto pleasant US state, that see this as the following expertise wave.
And are crafting legal guidelines that can permit new companies like ours, to attain their transformative targets.
Using this new expertise, whereas doing so in a authorized, reliable and clear and safe vogue.
With Yoon primarily based out of California, it seems World Crypto Life and its related firms haven’t any precise ties to Wyoming.
It follows they aren’t working with the Wyoming state authorities both.
This isn’t the primary time an MLM crypto firm has pretended it’s working with Wyoming state officers.
In 2018 CGI Restricted represented it was “lobbying Wyoming to legalize CGI Restricted’s enterprise mannequin”.
CGI Restricted’s enterprise mannequin was that of a Ponzi scheme.
Equally in World Crypto Life you might have early buyers withdrawing subsequently invested funds by IM Alternate. Or hoping to as soon as their invested in IMC stability is launched.
World Crypto Life units IMC’s inner worth, pays out withdrawal requests and runs the whole lot from prime to backside.
In an try and lend legitimacy to its Ponzi scheme, World Crypto Life launched Gpoint Market.
The shitcoin ecommerce platform is a cliched ruse. Right here we’ve got World Crypto Life showing to drive associates to spend by it by paying 70% of earned commissions in Gpoints.
As revealed in a YouTube video uploaded by Benjamin Funsch, aka “Templar Knight Crypto”, Gpoints might be withdrawn for ethereum, cardano or onto a visa debit card by the affiliate backoffice (click on to enlarge screenshot beneath):
One other layer to World Crypto Life’s Ponzi scheme is its newly launched “staking”.
the deal. Put money into IMC, park it with World Crypto Life (not that you’ve any alternative), get extra IMC, money out different folks’s cash.
IM Alternate’s web site additionally mentions “algorithmic buying and selling”. If the corporate is providing passive returns by automated buying and selling although, they’re holding it on the down-low for now.
In any occasion, working an MLM passive funding scheme constitutes a securities providing.
The promoting of IMEX shares to World Crypto Life associates alone is an irrefutable securities providing.
Even when World Crypto Life had been working with authorities in Wyoming, that’s not the equal of registering with the SEC and submitting audited monetary experiences.
A search of the SEC’s Edgar database reveals neither World Crypto Life or Francis Yoon are registered.
Because of this at a minimal, World Crypto Life is committing securities fraud within the US.
Promotion of unregistered securities can also be unlawful, that means anybody selling World Crypto Life can also be committing securities fraud.
The MLM aspect of World Crypto Life is a pyramid scheme. All commissions are tied to recruitment of associates and their funding in IMC. Nothing is marketed to or bought to retail clients.
One very last thing I need to handle is World Crypto Life’s Financial institution of America debit card, once more a serious advertising and marketing level.
Financial institution of America has nothing to do with World Crypto Life.
Our most distinguished milestone has been the institution of a world methodology of banking with the Financial institution of America, powered by IM FinServices, LLC, that’s accessible all all over the world for customers by having a serious US checking account.
By their very own admission, World Crypto Life have obtained BOA debit playing cards by an ubiquitously named shell firm.
IM FinServices LLC is a shell firm included in Wyoming. It’s seemingly the solely tie World Crypto Life has to Wyoming.
By means of this shell firm, World Crypto Life has obtained debit playing cards by an unsuspecting and/or dodgy service provider.
Till suspicious exercise is detected by the account and its inevitably frozen, Financial institution of America shall be none the wiser.
You possibly can name up Financial institution of America company and ask them about World Crypto Life. They gained’t have any thought what you’re speaking about.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve World Crypto Lifetime of ROI income, ultimately prompting a collapse.
The mathematics behind MLM Ponzi schemes ensures that almost all of contributors lose cash.
Replace twenty sixth August 2021 – Presumably in response to this evaluate, World Crypto Life has scrubbed point out of IMEX shares from its advertising and marketing materials.
I imagine that is pseudo-compliance nonetheless, and people who invested nonetheless have their IMEX shares.
The opposite beauty change made is renaming of the IMEX funding tiers:
- Elite Member –> Senior Member, nonetheless $500
- Bronze Member (new tier) – $1000
- VIP Member –> Silver Member, nonetheless $2000
- IMEX5 –> Gold Member, nonetheless $5000
- IMEX10 –> Platinum Member, nonetheless $10,000
- VIP Member –> IMEX25, nonetheless $25,000
I’m not modifying the unique evaluate as a result of it’s the entire World Crypto Life compensation plan, together with what’s now being hidden.
Replace seventh April 2022 – Benjamin Funsch has deleted the cited YouTube video from hs “Templar Knight Crypto” channel.
There was a hyperlink to the video within the article however on account of the deletion I’ve disabled it.