Cryptex fails to offer possession or govt data on its web site.
Cryptex’s web site area (“cryptex.to”), was privately registered in August 2020. Primarily based on its web site source-code, Cryptex seems to have been put collectively circa June 2021 or so.
SimilarWeb at the moment tracks high sources of site visitors to Cryptex’s web site as Germany (82%), El Salvador (8%) and Martinique (3%).
Though not definitive, the proportion of site visitors coming from Germany suggests whoever is working Cryptex might need ties to Germany.
It’s value noting that regardless of the area age, Cryptex was comparatively lifeless till early 2023.
As all the time, if an MLM firm is just not brazenly upfront about who’s working or owns it, assume lengthy and onerous about becoming a member of and/or handing over any cash.
Cryptex’s Merchandise
Cryptex has no retailable services or products.
Associates are solely capable of market Cryptex affiliate membership itself.
Cryptex’s Compensation Plan
Cryptex solicits funding in $100 USD equivalents in cryptocurrency.
That is completed on the promise of marketed returns:
- 3 Years – make investments $100 and obtain a every day ROI for 36 months
- 5 Years – make investments $100 and obtain a every day ROI for 60 months
- 7 Years – make investments $100 and obtain a every day ROI for 84 months
Cryptex associates are capable of spend money on a number of $100 positions at every tier.
Observe that Cryptex retains an affiliate preliminary $100 funding below the guise of a “dealing with payment”.
The MLM facet of Cryptex pays on recruitment of affiliate buyers.
Referral Commissions
Cryptex pays referral commissions through 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.
For referral commissions, Cryptex caps payable unilevel group ranges at ten.
Referral commissions are paid as a proportion of funds invested throughout these ten ranges as follows:
3 yr funding contract
- degree 1 (personally recruited associates) – 30%
- ranges 2 to 4 – 5%
- ranges 5 and 6 – 4%
- ranges 7 to 10 – 3%
5 and seven yr funding contract
- degree 1 – 50%
degree 2 – 10% - degree 3 – 5%
Residual Commissions
Cryptex pays residual commissions through the identical unilevel group used to pay referral commissions (see above).
Whereas referral commissions are capped at as much as ten unilevel group ranges, Cryptex pays residual commissions on as much as twenty ranges.
Residual commissions are paid as a proportion of the every day ROI paid to unilevel group associates as follows:
- degree 1 – 8%
- ranges 2 to 4 – 5%
ranges 5 to eight – 4% - ranges 9 to 12 – 3%
- ranges 13 to 16 – 2%
- ranges 17 to twenty – 1%
Observe that residual commissions are solely paid out as soon as an funding contract is accomplished (3, 5 or 7 years).
Becoming a member of Cryptex
Cryptex affiliate membership is free.
Full participation within the connected revenue alternative requires a minimal $100 funding.
Cryptex solicits funding in varied cryptocurrencies.
Cryptex Conclusion
Regardless of being a cookie-cutter “smart-contract” Ponzi scheme, Cryptex payments itself because the “1st of its form worldwide”.
Sensible-contact MLM crypto Ponzis have been a factor earlier than the NFT grift took over. MLM crypto Ponzis may nonetheless run on smart-contracts, however pretending it’s some new innovation is lifeless.
Cryptex makes use of the “staking” Ponzi mannequin. That’s associates make investments cryptocurrency, and Cryptex reveals them monopoly cash “staking” returns of their backoffice.
Withdrawals are funded by subsequently invested cryptocurrency, which works till withdrawals inevitable exhaust the speed of latest funding.
Being an MLM crypto Ponzi scheme, it will coincide with Cryptex affiliate recruitment dying off.
On the regulatory entrance, Cryptex’s passive funding scheme constitutes a securities providing.
Cryptex’s major investor market is Germany. Securities in Germany are regulated by BaFin.
Cryptex gives no proof it has registered its securities providing with BaFin, which means that at a minimal the corporate is committing securities fraud and working illegally.
I couldn’t assist however discover Cryptex declare their 3 yr funding plans are “offered out”.
I believe these positions are held by Cryptex’s admin ($0 phantom positions), and early scammers from Germany.
Principally they’re relying on dummies prepared to enroll to Cryptex’s 5 and seven yr plans to fund their theft.
The maths behind Ponzi ensures that once they inevitably collapse, nearly all of buyers lose cash.
