My BlockX is a continuation of the securities fraud started with My Blockchain Life.
BehindMLM last revisited My Blockchain Life, noting the launch of a BlockX Trading AI bot opportunity.
After publication we had salty US BLKX bagholders pop up in the comments of that article, but as a business opportunity My BlockX was dead.
That changed a few months ago, when someone in My BlockX found an inroad into Colombia.
My Blockchain Life was originally headed up by Glenn Williams.
Williams spent most of 2020 and 2021 posting anti-vaxxer memes on FaceBook. He died of COVID-19 in October 2021.
Someone is still obviously running My BlockX and Jeremy Sowerby is a name that keeps popping up.
I haven’t been able to personally verify Sowerby’s ownership of My BlockX.
If Sowerby (right) is running My BlockX, he’s keeping a long profile. Understandable given his long history of MLM crypto fraud.
Sowerby is best known as the owner and CEO of Dunamis Mining.
Dunamis Mining was an MLM crypto “mining” themed Ponzi launched in early 2019.
A few months after launch, Sowerby put BitClub Network scammer Joe Abel in charge and rebranded as Dunamis Global Tech.
My Blockchain Life launched a few months later in mid 2020. I suspect Sowerby’s close proximity to Joe Abel is why he’s keeping a low profile.
In a nutshell, My BlockX’s offering is two tiers of securities fraud; a staking investment scheme and an auto trading bot.
The staking investment scheme sees My BlockX affiliates invest at least $2500 worth of bitcoin in BLKX tokens.
BLKX is a worthless ERC-20 token created by My BlockX. ERC-20 tokens can be created in a few minutes at little to no cost.
Once invested in, BLKX tokens are parked with My BlockX on the promise of up to 42% annual ROI:
Returns are paid in BLKX, which My BlockX offers to convert to “another crypto”.
All My BlockX does on the backend is recycle previously invested crypto to cover these withdrawal requests. Hence the Ponzi scheme.
My BlockX refers to its automated trading bot scheme as “Limitless Trading Engine”.
To access Limitless Trading Engine, My BlockX affiliate have to first invest at least $2500 into the staking investment scheme.
My BlockX pitches an additional 580% annual ROI through Limitless Trading Engine:
Limitless Trading Engine is the usual trading bot ruse every MLM crypto Ponzi uses:
Our AI uses proprietary automated software that can identify split-second opportunities within the market to Buy and Sell that humans couldn’t possibly execute.
The Limitless engine makes the right moves, at the right times, with the right amounts, with the right assets, completely automated so you’ll never have to think about it.
Instead of registering with financial regulators and legally required audited financial reports, My BlockX offers up this nonsense:
On top of having $2500 locked up in BLKX staking, My BlockX charges up to $9997 annually for Limitless Trading Engine access:
- Starter Plan – $2497 a year, $10,000 trading account cap
- Growth Plan – $4997 a year, $50,000 trading account cap and “increased profit”
- Unlimited Plan – $9997 a year, no trading account cap and “maximise(d) profitability”
You know the drill; “but they can’t touch our money!” –> bot blows up or “technical problems” –> sorry for your loss.
One thing My BlockX doesn’t provide is any information on their MLM opportunity. I suspect they’re still using the old My Blockchain Life compensation plan – tweaked for BLKX investment and trading bot fees.
In any event My BlockX are, at a minimum, committing securities fraud. MLM and securities fraud lends itself to a Ponzi scheme.
Further evidence of this is the fact My BlockX has no verifiable source of external revenue being used to pay withdrawals.
On that point, after scamming mostly US investors, My BlockX was relatively dead until a few months ago.
As tracked by SimilarWeb, Colombia now makes up 95% of traffic to My BlockX’s website – and it’s on the rise.
In terms of money flow, this is My BlockX’s US BLKX bagholders offloading to new gullible Colombian investors.
My BlockX functions as internal exchange attached to two fraudulent investment schemes, through which these BLKX transfers happen.
Colombia has emerged as a hotbed of MLM related securities fraud throughout 2022. It appears local authorities have given up trying to regulate Ponzi schemes, most of which are operated from other countries.
In the case of My BlockX, both Glen Williams and Jeremie Sowerby were/are Canadian residents.