Cryptex fails to offer possession or govt info 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 present tracks prime 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 operating Cryptex might need ties to Germany.
It’s price noting that regardless of the area age, Cryptex was comparatively useless till early 2023.
As at all times, if an MLM firm shouldn’t be brazenly upfront about who’s operating or owns it, assume lengthy and laborious about becoming a member of and/or handing over any cash.
Cryptex’s Merchandise
Cryptex has no retailable services or products.
Associates are solely in a position to market Cryptex affiliate membership itself.
Cryptex’s Compensation Plan
Cryptex solicits funding in $100 USD equivalents in cryptocurrency.
That is performed on the promise of marketed returns:
- 3 Years – make investments $100 and obtain a day by day ROI for 36 months
- 5 Years – make investments $100 and obtain a day by day ROI for 60 months
- 7 Years – make investments $100 and obtain a day by day ROI for 84 months
Cryptex associates are in a position to spend money on a number of $100 positions at every tier.
Notice that Cryptex retains an affiliate preliminary $100 funding underneath the guise of a “dealing with price”.
The MLM aspect of Cryptex pays on recruitment of affiliate traders.
Referral Commissions
Cryptex pays referral 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 immediately underneath 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.
For referral commissions, Cryptex caps payable unilevel crew ranges at ten.
Referral commissions are paid as a proportion of funds invested throughout these ten ranges as follows:
3 12 months funding contract
- stage 1 (personally recruited associates) – 30%
- ranges 2 to 4 – 5%
- ranges 5 and 6 – 4%
- ranges 7 to 10 – 3%
5 and seven 12 months funding contract
- stage 1 – 50%
stage 2 – 10% - stage 3 – 5%
Residual Commissions
Cryptex pays residual commissions by way of the identical unilevel crew used to pay referral commissions (see above).
Whereas referral commissions are capped at as much as ten unilevel crew ranges, Cryptex pays residual commissions on as much as twenty ranges.
Residual commissions are paid as a proportion of the day by day ROI paid to unilevel crew associates as follows:
- stage 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%
Notice 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 earnings 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 variety worldwide”.
Good-contact MLM crypto Ponzis have been a factor earlier than the NFT grift took over. MLM crypto Ponzis would possibly nonetheless run on smart-contracts, however pretending it’s some new innovation is useless.
Cryptex makes use of the “staking” Ponzi mannequin. That’s associates make investments cryptocurrency, and Cryptex exhibits 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 main investor market is Germany. Securities in Germany are regulated by BaFin.
Cryptex supplies no proof it has registered its securities providing with BaFin, that means that at a minimal the corporate is committing securities fraud and working illegally.
I couldn’t assist however discover Cryptex declare their 3 12 months funding plans are “bought 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 12 months plans to fund their theft.
The maths behind Ponzi ensures that once they inevitably collapse, the vast majority of traders lose cash.
