Statum Global: Legit Bitcoin Mining Opportunity or Crypto MLM Ponzi Scheme?
Statum Global is a company that works as an MLM cryptocurrency scam. According to some information provided by the firm, they are located out of Hong Kong and Eathan Cheng seems to be the founder.
According to a report made by Behind MLM, there is no information about Cheng and that it is only related to Statum Global and the scam related to it. Additionally, the website was registered on August 13, 2018.
The report shows that the traffic registered by Alexa comes from Italy, Russia and the Netherlands, and they believe that those that are running Statum Global might be from one of these countries.
Apparently, there are no retailable products or services offered by the company and there are affiliate memberships for users. The company seems to be offering different ways for investors to place their funds.
Mining investments range between $10 and $200 and there is a 122.5% ROI after 15 days. The Eco Business allows users to invest between $200 and $1000 and receive an ROI of 133% after 30 days. The Renewable Energy promotion has an investment plan between $1000 and $5000 with an ROI of 150% after 60 days. Finally, the premium investment has an ROI of 178% investing between $1000 and $5000 in 60 days.
There is also an unilevel compensation structure that allows investors to bring new users to the platform. There are three referral levels. The commission that they will be receiving depends on the level of the referral and investment plan.
Statum Global did not provide information about what the company is doing. It claims that it will be running high-tech greenhouses that use renewable energy sources and economic programs aimed at creating large agricultural complexes.
One of the questions that the report makes is the following:
“If the company already has all of this infrastructure in place, such that they can legitimately generate a consistent return of 178% every 60 days, why does Status Global need your money?”
This might be related to the fact that the owner of the company wants to steal the funds rather than re-invest them in a productive business. As soon as the recruitment process gets closer to an end, the pyramid will start to fall, eventually collapsing completely. Something similar to what BitConnect did at the beginning of the current year.
The company has also released a cryptocurrency known as statum global coin and it takes part in the investment process as a whole. Users can exchange this virtual currency in a market specifically designed for it. However, this coin is worthless and would leave several investors with nothing on their hands once the Ponzi scheme falls.
All the money invested in this company will be used by the founders and it will not be used to invest in what they promised. There are several similar scams in the market and this Statum Global does not seem to be different from all the other fraudulent sites that appeared on the internet during the last years.