My BlockX is a continuation of the securities fraud began with My Blockchain Life.
BehindMLM final revisited My Blockchain Life, noting the launch of a BlockX Buying and selling AI bot alternative.
After publication we had salty US BLKX bagholders pop up within the feedback of that article, however as a enterprise alternative My BlockX was lifeless.
That modified a couple of months in the past, when somebody in My BlockX discovered an inroad into Colombia.
My Blockchain Life was initially 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.
Somebody continues to be clearly operating My BlockX and Jeremy Sowerby is a reputation that retains popping up.
I haven’t been in a position to personally confirm Sowerby’s possession of My BlockX.
If Sowerby (proper) is operating My BlockX, he’s conserving an extended profile. Comprehensible given his lengthy historical past of MLM crypto fraud.
Sowerby is finest often called the proprietor and CEO of Dunamis Mining.
Dunamis Mining was an MLM crypto “mining” themed Ponzi launched in early 2019.
A number of months after launch, Sowerby put BitClub Community scammer Joe Abel in cost and rebranded as Dunamis World Tech.
Dunamis World Tech collapsed by the top of 2019. Sowerby offered the affiliate investor base off to Travis Bott’s Onyx Life-style Ponzi.
My Blockchain Life launched a couple of months later in mid 2020. I believe Sowerby’s shut proximity to Joe Abel is why he’s conserving a low profile.
In a nutshell, My BlockX’s providing is 2 tiers of securities fraud; a staking funding scheme and an auto buying and selling bot.
The staking funding scheme sees My BlockX associates make investments a minimum of $2500 price of bitcoin in BLKX tokens.
BLKX is a nugatory ERC-20 token created by My BlockX. ERC-20 tokens could be created in a couple of minutes at little to no value.
As soon as invested in, BLKX tokens are parked with My BlockX on the promise of as much as 42% annual ROI:
Returns are paid in BLKX, which My BlockX affords to transform to “one other crypto”.
All My BlockX does on the backend is recycle beforehand invested crypto to cowl these withdrawal requests. Therefore the Ponzi scheme.
My BlockX refers to its automated buying and selling bot scheme as “Limitless Buying and selling Engine”.
To entry Limitless Buying and selling Engine, My BlockX affiliate need to first make investments a minimum of $2500 into the staking funding scheme.
My BlockX pitches an extra 580% annual ROI by Limitless Buying and selling Engine:
Limitless Buying and selling Engine is the same old buying and selling bot ruse each MLM crypto Ponzi makes use of:
Our AI makes use of proprietary automated software program that may determine split-second alternatives throughout the market to Purchase and Promote that people couldn’t presumably execute.
The Limitless engine makes the fitting strikes, on the proper occasions, with the fitting quantities, with the fitting property, fully automated so that you’ll by no means have to consider it.
As a substitute of registering with monetary regulators and legally required audited monetary studies, My BlockX affords up this nonsense:
On high of getting $2500 locked up in BLKX staking, My BlockX fees as much as $9997 yearly for Limitless Buying and selling Engine entry:
- Starter Plan – $2497 a 12 months, $10,000 buying and selling account cap
- Progress Plan – $4997 a 12 months, $50,000 buying and selling account cap and “elevated revenue”
- Limitless Plan – $9997 a 12 months, no buying and selling account cap and “maximise(d) profitability”
You already know the drill; “however they’ll’t contact our cash!” –> bot blows up or “technical issues” –> sorry in your loss.
One factor My BlockX doesn’t present is any info on their MLM alternative. I believe they’re nonetheless utilizing the previous My Blockchain Life compensation plan – tweaked for BLKX funding and buying and selling bot charges.
In any occasion My BlockX are, at a minimal, committing securities fraud. MLM and securities fraud lends itself to a Ponzi scheme.
Additional proof of that is the actual fact My BlockX has no verifiable supply of exterior income getting used to pay withdrawals.
On that time, after scamming principally US buyers, My BlockX was comparatively lifeless till a couple of months in the past.
As tracked by SimilarWeb, Colombia now makes up 95% of visitors to My BlockX’s web site – and it’s on the rise.
By way of cash circulation, that is My BlockX’s US BLKX bagholders offloading to new gullible Colombian buyers.
My BlockX capabilities as inside change connected to 2 fraudulent funding schemes, by which these BLKX transfers occur.
Colombia has emerged as a hotbed of MLM associated securities fraud all through 2022. It seems native authorities have given up attempting to manage Ponzi schemes, most of that are operated from different nations.
Within the case of My BlockX, each Glen Williams and Jeremie Sowerby had been/are Canadian residents.
