Minerva Trading Bot: Be Mindful with a Possible Telegram Ponzi Bot?
The Minerva Trading bot, which claims to generate 240% return on investment, is simply a Ponzi scheme, out to fleece unsuspecting members. Judging by the content of the website, it is easy to conclude that the program is fake and simply a rip-off.
To begin with, there is no information on the website about the director or owner of the company. Its website domain (minervatradingbot.com) bears a private registration dated December 10, 2018.
Further research reveals a YouTube video that features the company’s CEO. However, the person appearing on the video does not match the description, which is done in German. It simply means that people who cannot understand the German language will not be able to understand the content.
According to an incorporation document done by CMC Invest on the same company, Gregor Maihart is the owner of the company. Therefore, Maihart runs the Minerva Trading Bot and he’s the person featured in the video.
The CMC Invest appears to be just an offshore firm that Minerva uses in money laundering attempts. The Facebook profile of Maihart reveals its location as out of Austria, which matches Alexa traffic records.
Maihart’s MLM history is also quite unclear, as neither Maihart nor Minerva Trading bot is registered with Austria’s Financial Markets Authority.
When it comes to products or services, Minerva Trading bot has no product or service to market. The affiliates of the program simply market their affiliate membership.
Minerva Trading bot affiliates are duped with the promise of a 240% ROI after one year. To earn the said ROI, they have to part with Euros. The returns are delivered in Bitcoin after every 7 days. Besides, the company has three levels of recruitment upon which it pays referral commissions on the initial funds that recruited affiliates to invest. Here is how it works:
- 500 Euros earn 7% on level 1 (personally recruited affiliates)
- 1000 Euros earn 7% on level 1 and another 3% on level 2
- 1500 Euros earn 7% on level 1, 3% on level 2, and 2% on level 3
Minerva Trading bot also pays referral commissions on the investments on the same levels:
- Level 1(reinvestment by personally recruited affiliates): 3%
- Level 2: 2%
- Level 3: 1%
How To Join
Minerva Trading bot does not ask anything from affiliates before they join. The affiliate membership is free. However, once you join, you have to part with a minimum of 500 Euros for the initial investment.
The Minerva Trading bot is a Telegram-based Ponzi scheme. The affiliates are lured to join and invest money through its official Telegram channel bot. While the company markets itself as generating money through crypto trading, there is no evidence of trade on the platform or any other source associated with it.