Universal Crypto Mining Club Review: Another Bitcoin-Based Investment Ponzi Scheme?
With many crypto mining sites and services springing up these days, all of them hyping money spinning opportunities and looking to get you to invest, it’s hard to know which ones are truly genuine and those that aren’t.
In this review of one of these services, we’ll be looking into they are doing right and wrong –if any. The goal is to provide you with an unbiased review that will then help you make an informed decision about whether to participate in the program or not.
First Red Flags
When we started researching this service, the first thing that jumped out at us was the fact that there’s no information about who owns the website, management team, and a bunch of other vital information that’s often commonly seen in real businesses with legitimate services.
A cursory look at the website’s registration details itself doesn’t show any personal details; only its date of registration –the 24th of July, 2018. Please note that this is not unusual as many businesses choose not to reveal their registration details for fear of their details being scraped and used in email phishing campaigns.
However, we did see from the registered domains that they use a name server that’s associated with Traffic Slider –a well-known now defunct ebook pyramid scheme. A quick reverse search shows the owner of Traffic Slider to be an Indian resident by the name of Rohit Kumar Seth –please note there’s nothing wrong with being Indian; all that matters is you provide legitimate services.
A closer inspection of the email address used in registering the website, revealed its association with YourFreeScripts. This is a well-known Indian firm that sells scam MLM scripts to anyone. Therefore, users can buy the scripts and use it to setup fraudulent MLM schemes, designed to rip off people.
After this, we couldn’t find any trace of the owner anywhere, which leads to the conclusion that the name is just an alias. If you check the website for information, you’ll find that the site appears to be under the management of AVZ Ventures –a failed Philippine based health and wellness company- headed by Vangie Arrieta. A deeper search for this entity resulted in a dead end.
Here’s the truth: all legitimate MLM companies and programs are very upfront about who they are, where they are, their founders, management teams and so on. There’s nothing shady about them. You can easily look up every company employee and verify who they are.
Universal Crypto Mining Club is the direct opposite of this –ergo, we think they are a scamming outfit set up to defraud unsuspecting victims.
Even more, all legitimate MLM programs have tangible products that you can sell. This one doesn’t.
The only thing available is the affiliate membership, which supposedly gives members the “opportunity” to access a “cryptocurrency knowledge base” –which is scam speak for outdated, irrelevant materials. If this is not as vague as can be, we don’t know what is.
Their poorly thought out compensation plan is in the form of a matrix cycler, and is as convoluted as they come.
This is not an MLM program to join. Run as far away as possible from this one, and keep your money as well as utilize your time for more important activities. These guys are essentially a Ponzi scheme designed to enrich the owners and no one else.
If you really want to get into an MLM program, find the established ones with decent programs, products and a team that actually wants you to succeed. Anything eels is not worth your time. Good luck.