Cryptexify provides no information on its website about who owns or runs the company.
Cryptexify’s website domain (“cryptexify.com”), was first registered in May 2021. The private registration was last updated on June 21st, 2022.
In an attempt to appear legitimate, Cryptexify provides corporate addresses in Canada, the UK, New Zealand, the US and Zimbabwe.
With the addition of Nigeria, basic incorporation certificates for various shell companies are also provided.
For the purpose of MLM due-diligence, these addresses and incorporations are meaningless.
Cryptexify’s official FaceBook page was created in September 2021. As opposed to any of the countries above, Cryptexify’s FaceBook page is managed from India.
Cryptexify uploaded its first five video to its YouTube channel in August 2021. These were your typical stock footage marketing hype, all coming in at 15 to 30 seconds.
On March 26th 2022, Cryptexify decided to go the Boris CEO route:
Well, not so much a Boris CEO as Boris “Tour Guide”. “Sandra Davis” takes us on a tour of the usual rented office setup.
There we meet Cryptexify’s actual Boris CEO, “Zane Hayden”:
I don’t have a name buy Hayden is an actor based out of Eastern Europe. He recently appeared in a marketing video for Jaoken, a company based out of Georgia.
Georgia neighbours Russia, where practically all Boris CEO videos are produced from.
Who owns Cryptexify comes down to two possible scenarios:
- Russian scammers run Cryptexify with social media outsourced to India; or
- Indian scammers run Cryptexify and hired Russians to make the Boris CEO video.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Cryptexify has no retailable products or services.
Affiliates are only able to market Cryptexify affiliate membership itself.
Cryptexify’s Compensation Plan
Cryptexify affiliates invest cryptocurrency on the promise of advertised Monday to Friday returns:
- Bronze – invest $30 to $25,000 and receive 2% a day for 100 days
- Silver – invest $25,500 to $60,000 and receive 3% a day for 100 days
- Gold – invest $60,500 to $150,000 and receive 4% a day for 100 days
Note that Cryptexify charges a 10% fee on all withdrawals.
The MLM side of Cryptexify pays on recruitment of affiliate investors.
Cryptexify affiliates earn a percentage of cryptocurrency invested by personally recruited affiliates.
Referral commission rates are determined by how much a Cryptexify affiliate has invested:
- Bronze tier affiliates earn a 7% referral commission rate
- Silver tier affiliates earn an 8% referral commission rate
- Gold tier affiliates earn a 10% referral commission rate
Cryptexify pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day Cryptexify tallies up new investment volume on both sides of the binary team.
Residual commissions are paid as 10% of cryptocurrency invested on the weaker binary team side.
- Bronze tier affiliates are capped at $3000 in residual commissions a day
- Silver tier affiliates are capped at $6500 in residual commission a day
- Gold tier affiliates are capped at $15,000 in residual commissions a day
After residual commissions are paid, weaker side volume is matched against the stronger binary team side and flushed.
Any leftover volume on the stronger binary team side carries over.
Cryptexify affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $30 investment.
Cryptexify solicits investment in various cryptocurrencies
Cryptexify claims it generates external revenue via “cryptocurrency and forex trading”.
These cliches are the defacto ruse for MLM Ponzi schemes.
Cryptexify fails to provide evidence of trading, or any other external source of revenue generation being used to pay withdrawals.
As it stands, the only verifiable source of revenue entering Cryptexify is new investment.
Using new investment to pay affiliates a Monday to Friday ROI makes Cryptexify a Ponzi scheme. This tracks with Cryptexify’s anonymous ownership and Boris CEO setup.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Cryptexify of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.