ProCap Insurance coverage fails to supply possession or government info on its web site.
ProCap Insurance coverage’s web site area (“procap.insure”), was privately registered on December twelfth, 2023.
In an try to seem reliable, ProCap Insurance coverage touts a shell firm in Seychelles.
However Seychelles being a tax-haven, for the aim of MLM due-diligence shell incorporation anyplace is meaningless.
Of be aware is ProCap Insurance coverage claiming to have workplaces in Manila, Philippines.
This ties into the arrest of twenty ProCap Insurance coverage scammers on October fifteenth.
As per a press-release issued by the Philippine Felony Investigation and Detection Group, twelve locals and eight international nationals have been arrested at a advertising and marketing occasion held on the Dusit Thani Lodge.
In the course of the operation, authorities recovered three (3) real One-Thousand-peso payments (Dusted Cash), 4 Hundred Fifty-One-Thousand-peso (Funding Cash), and one (1) USB Flash drive containing the Powerpoint Presentation of the stated unlicensed firm.
The international nationals look like Chinese language and/or Singapore nationals primarily based out of Singapore.
If I needed to guess, the international nationals have been seemingly operating or tied to operating ProCap Insurance coverage. Arrested locals have been seemingly largely ringleader promoters.
The arrestees have been criminally charged with securities fraud and violating the Monetary Merchandise and Companies Shopper Safety Act.
At time of publication ProCap Insurance coverage’s web site continues to be on-line, so learn on for a full evaluate.
ProCap Insurance coverage’s Merchandise
ProCap Insurance coverage has no retailable services or products.
Associates are solely capable of market ProCap Insurance coverage affiliate membership itself.
ProCap Insurance coverage’s Compensation Plan
ProCap Insurance coverage associates make investments tether (USDT).
That is completed on the promise of marketed returns:
- Coverage 1 – make investments 1235 USDT and obtain as much as 35 USDT a day
- Coverage 2 – make investments 2470 USDT and obtain as much as 70 USDT a day
- Coverage 3 – make investments 12,350 USDT and obtain as much as 350 USDT a day
- Coverage 4 – make investments 24,700 USDT and obtain as much as 700 USDT a day
- Coverage 5 – make investments 74,100 USDT and obtain as much as 2100 USDT a day
The MLM facet of ProCap Insurance coverage pays on recruitment of affiliate traders.
ProCap Insurance coverage Affiliate Ranks
There are 5 affiliate ranks inside ProCap Insurance coverage’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- 1 Star – generate 20,000 USDT of downline funding in three recruitment legs
- 2 Star – have three recruitment legs with a 1 Star or increased in them
- 3 Star – have three recruitment legs with a 2 Star or increased in them
- 4 Star – have three recruitment legs with a 3 Star or increased in them
- 5 Star – have three recruitment legs with a 4 Star or increased in them
Referral Commissions
ProCap Insurance coverage pays referral commissions on invested USDT.
Referral fee charges are decided by how a lot an affiliate has invested:
- make investments on the Coverage 1 and a couple of tiers and obtain a 5% referral fee fee
- make investments on the Coverage 3 tier and obtain a 6% referral fee fee
- make investments on the Coverage 4 tier and obtain a 7% referral fee fee
- make investments on the Coverage 5 tier and obtain an 8% referral fee fee
Observe that referral commissions are coded, which means associates who’ve invested extra obtain the distinction paid to their downline.
E.g. a Coverage 3 tier affiliate recruits a brand new affiliate and receives their 6% referral fee fee.
The remaining 2% (8% – 6% paid out), is paid upline to the primary Coverage 4 or Coverage 5 tier affiliate discovered.
If a Coverage 4 affiliate is discovered upline first, they obtain 1%. The remaining 1% is paid out to the primary upline Coverage 5 tier affiliate discovered.
If a Coverage 5 affiliate is discovered upline first, they obtain the complete 2% excellent fee.
Observe that nothing is ever handed up from a Coverage 5 affiliate. They both obtain 8% on their very own recruitment, or any excellent coded quantity being handed up.
Matching Bonus
ProCap Insurance coverage pays a Matching Bonus on returns paid to downline associates.
The Matching Bonus is paid out by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel group, with each personally recruited affiliate positioned instantly below them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel group.
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.
ProCap Insurance coverage caps the Matching Bonus at twenty unilevel group ranges.
The Matching Bonus is paid out as a share of each day returns paid throughout these twenty ranges primarily based on private funding:
- make investments at Coverage 1 or Coverage 2 and obtain an 8% match on degree 1, 6% on degree 2 and 4% on ranges 3 to five
- make investments at Coverage 3 and obtain an 8% match on degree 1, 6% on degree 2, 4% on ranges 3 to five and a couple of% on ranges 6 to 10
- make investments at Coverage 4 and obtain an 8% match on degree 1, 6% on degree 2, 4% on ranges 3 to five, 2% on ranges 6 to 10 and 1% on ranges 11 to fifteen
- make investments at Coverage 5 and obtain an 8% match on degree 1, 6% on degree 2, 4% on ranges 3 to five, 2% on ranges 6 to 10 and 1% on ranges 11 to twenty
Management Rewards
Management Rewards is a rank-based bonus on downline funding.
- 1 Stars obtain a 1% Management Reward
- 2 Stars obtain a 2% Management Reward
- 3 Stars obtain a 3% Management Reward
- 4 Stars obtain a 4% Management Reward
- 5 Stars obtain a 5% Management Reward
Observe that
- if an affiliate has three further recruitment legs every with 1235 USDT or extra in invested funds, Management Rewards are doubled
- if an affiliate has three further recruitment legs every with 20,000 USDT or extra invested funds, Management Rewards are tripled
Becoming a member of ProCap Insurance coverage
ProCap Insurance coverage affiliate membership is free.
Full participation within the hooked up earnings alternative requires a minimal 1235 USDT funding.
ProCap Insurance coverage Conclusion
ProCap Insurance coverage’s ruse is “playing insurance coverage”.
ProCap Insurance coverage supplies insurance coverage protection to your capital if you have interaction in predictions video games from licensed operators.
Policyholders can expertise our protection reside at Nagaworld of Phnom Penh, Crown Worldwide On line casino of Danang, Hoiana On line casino of Quảng Nam, Resort World Manila, and Dream Tower of Jeju Island.
For sure playing insurance coverage isn’t a factor. Not one of the gaming venues cited above have something to do with ProCap Insurance coverage.
Dare I say it, ProCap Insurance coverage naming these gaming venues might need led to the Philippine arrests.
Notably the Philippines is just not a significant supply of site visitors to ProCap Insurance coverage’s web site.
As of September 2023, SimilarWeb tracks high sources of ProCap Insurance coverage web site site visitors as Japan (33%, down 32% month on month), the US (20%), Indonesia (16%), Switzerland (10%) and Germany (9%).
Because it stands, the one verifiable income coming into ProCap Insurance coverage is new funding.
Utilizing new funding to pay each day returns would make ProCap Insurance coverage a Ponzi scheme. All MLM Ponzi schemes have a pyramid recruitment part, as cited by Philippine authorities.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve ProCap Insurance coverage of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that after they collapse, nearly all of individuals lose cash.
