Metaverse Overseas Trade, abbreviated as MFTE, fails to supply possession or government info on its web site.
MTFE’s web site area (“mtfe.ca”), was first registered in December 2021. The non-public registration was final up to date on November fifteenth, 2022.
Regardless of solely current for a 12 months and a half or so at finest, a false declare I stored seeing parroted in MTFE advertising and marketing was that the corporate has been round since 2015.
In an try to seem professional, MTFE supplies a Canadian company tackle on its web site and FINTRAC registration quantity.
The company tackle is a digital workplace tackle offered by Davinci Digital. The FINTRAC registration is meaningless as FINTRAC just isn’t a monetary regulator.
It seems MTFE has been fronted by an AI bot avatar:
And a Boris CEO actor:
As to who’s really operating MTFE, we’ve CEO Masud Al Islam.
Islam is a Bangladesh nationwide, apparently hiding out in Dubai. This confirms MTFE has no ties to Canada and is actually a Dubai-based firm.
In response to his private LinkedIn profile, Islam has been CEO of one thing referred to as MyShop Categorical since 2020.
MyShop Categorical it’s not a reputation solely, it’s a image of stirring, know-how & contentment. On this world know-how comes first for any type of providers.
We’re creating applied sciences instrument. With this instrument we will purchase, we will promote, we will multiply our companies and lots of extra. In our nation for the primary time we’re offering filled with applied sciences items that nobody can suppose earlier than.
Now we have a robust workforce who can actually construct up our enterprise, can produce efficient merchandise to the folks and lots of extra.
So, we will say that “JAGBEI BANGLADESH”, which is our slogan additionally”.
I ran a seek for “myshop categorical Bangladesh” and nothing got here up. Unsure if it’s an precise firm or one thing Islam made up.
What I used to be capable of verify is, previous to getting concerned in MTFE, Islam was a PLC Ultima Ponzi promoter:
PLC Ultima is a reboot of Alex Reinhardt’s PlatinCoin Ponzi scheme.
PLC Ultima started to break down round mid 2022. This coincides with Islam first posting about MTFE on his FaceBook profile on October 2nd, 2022.
I couldn’t assist however discover the Chinese language subtitles in MTFE’s AI avatar advertising and marketing video. Given the December 2021 area registration date, I imagine the unique iteration of MTFE might need been focused at Chinese language buyers.
This implies Islam could be working with Chinese language scammers. Additional supporting that is MTFE’s authentic social media profiles having been deleted.
Islam was probably introduced on to particularly goal folks from Bangladesh, Sri Lanka and India – together with his PLC Ultima downline.
As of Might 2023, SimilarWeb tracks prime sources of site visitors to MTFE’s web site as Bangladesh (33%), Sri Lanka (27%), India (12%) and the UAE (7%).
It’s secure to imagine MTFE’s UAE site visitors is scammers from Bangladesh, Sri Lanka and India additionally hiding out in Dubai.
BehindMLM’s pointers for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re making an attempt to rip-off you.
- If an MLM firm relies out of or represents it has ties to Dubai, it’s a rip-off.
If you wish to know particularly how this is applicable to MTFE, learn on for a full overview.
Metaverse Overseas Trade’s Merchandise
MTFE has no retailable services or products.
Associates are solely capable of market MTFE affiliate membership itself.
Metaverse Overseas Trade’s Compensation Plan
MTFE associates make investments tether on the promise of a 3% to eight% day by day passive return:
- Plan 1 – make investments 30 USDT and obtain 22 to 44 USDT a month
- Plan 2 – make investments 60 USDT and obtain 40 to 60 USDT a month
- Plan 3 – make investments 100 USDT and obtain 60 to 120 USDT a month
- Plan 4 – make investments 200 USDT and obtain 120 to 180 USDT a month
- Plan 5 – make investments 500 USDT and obtain 300 to 800 USDT a month
- Plan 6 – make investments 1000 USDT and obtain 600 to 1800 USDT a month
- Plan 7 – make investments 3000 USDT and obtain 1800 to 4800 USDT a month
- Plan 8 – make investments 5000 USDT and obtain 3000 to 8000 USDT a month
- Plan 9 – make investments 7500 USDT and obtain 4500 to 12,000 USDT a month
MTFE pays a residual fee on returns paid to recruited associates down three ranges of recruitment (unilevel):
- degree 1 (personally recruited associates) – 15%
degree 2 – 10% - degree 3 – 5%
If an MTFE affiliate recruits fifteen associates and builds a complete downline of 100 associates, they obtain $600 a month wage.
Notice that recruited associates should have invested so as to rely in direction of month-to-month wage qualification standards.
Becoming a member of Metaverse Overseas Trade
MTFE affiliate membership is free.
Full participation within the connected earnings alternative requires an preliminary 26 USDT funding.
Metaverse Overseas Trade Conclusion
MTFE hides its funding scheme and connected MLM compensation plan on its web site.
As an alternative MTFE is offered as a generic fintech agency providing entry to a buying and selling platform:
In actuality, MTFE has nothing to do with the metaverse or foreign currency trading; it’s a easy Ponzi scheme.
Supporting that is MTFE’s misdirection web site, the pretend CEOs and being based mostly out of Dubai.
Essentially the most damning proof MTFE is operating a Ponzi scheme is the very fact it’s committing securities fraud.
MTFE supplies no proof it has registered with monetary regulators in any jurisdiction (once more, FINTRAC just isn’t a monetary regulator).
Moreover, MTFE’s personal advertising and marketing fails the Ponzi logic take a look at.
As above, in April 2023 MTFE claimed it had processed $200 billion in transactions.
Even when we assume MTFE has 0.5% of that quantity in reserve ($1 billion), at 3% to eight% a day the corporate would nonetheless be making $30 million to $80 million a day.
What on Earth does MTFE want your cash for?
Because it stands the one verifiable income getting into MTFE is new funding.
Utilizing new funding to pay a day by day 3% to eight% ROI makes MTFE a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve MTFE of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of members lose cash.
