LedgerBlock operates within the MLM cryptocurrency area of interest.
LedgerBlock operates from the area “ledgerblock.internet”, privately registered on January thirteenth, 2023.
On January twelfth, LedgerBlock uploaded an “Worldwide Key Chief’s Summit” promo to its official YouTube channel.
The people above establish themselves as “Romeo and Amanda”.
If LedgerBlock posting a frontrunner’s summit video earlier than its web site area was registered strikes you as odd, that’s as a result of it’s.
Observe the “HyperLedger” brand within the high proper of the above video. I imagine LedgerBlock may need beforehand launched underneath this title.
LedgerBlock’s YouTube channel was created in October 2022, so HyperLedger’s launch would have been temporary earlier than switching over to LedgerBlock.
Regardless of the story is, LedgerBlock seems to have held a advertising and marketing occasion in Malaysia on or round January fifteenth, 2023.
On the occasion LedgerBlock revealed CEO “Andrew James”:
Naturally James doesn’t exist exterior of LedgerBlock’s advertising and marketing. That’s as a result of he’s an actor, performed by UK nationwide and Malaysian resident Paul Sykes.
When he’s not moonlighting as a Boris CEO, Sykes runs his consultancy agency Humateca.
From Humateca’s web site;
We associate with blochain [sic] companies, considered one of our key strategic companions is Blockworq.io, a Malaysian based mostly Blockchain options supplier.
Sykes can be Blockworq’s Chief Advertising and marketing Officer (click on to enlarge):
From what I’ve been in a position to piece collectively, Sykes transitioned from legit enterprise pursuits to cryptocurrency in 2021.
Sykes’ Blockworq govt position got here earlier than Humateca, which was based on or round September 2022.
What I’m not clear on is whether or not there’s any hyperlinks between Blockworq and LedgerBlock.
What is evident is Paul Sykes is a Boris CEO enjoying Andrew James.
Government co-conspirators on LedgerBlock’s web site embrace Adam Lester and Dato Asmawey Bin Hussain.
Sarcastically, Hussain is cited as President of Crime Prevention & Consciousness Board of Malaysia.
Be it these charlatans or another person, whoever is operating LedgerBlock is clearly based mostly out of Malaysia.
Dubai, the MLM crime capital of the world, is one other chance:
Promoters are operating round claiming LedgerBlock is holding an occasion in Dubai in Could. On the occasion LedgerBlock will launch an “avatar” shitcoin and in-house crypto alternate.
On the company aspect of issues, LedgerBlock cites itself as “SMB LedgerBlock China Group”:
Oh and simply in case Paul Sykes tries to tug the ol’ “they stole my photograph!” ruse, right here he’s enjoying Andrew James in-person at LedgerBlock’s January 2023 advertising and marketing occasion:
As of February 2023, SimilarWeb ranks high sources of site visitors to LedgerBlock’s web site as Indonesia (47%), Malaysia (21%, down 61% month on month), Sri Lanka (20%), Brazil (8%) and the UAE (3%).
As all the time, if an MLM firm just isn’t brazenly upfront about who’s operating or owns it, suppose lengthy and arduous about becoming a member of and/or handing over any cash.
LedgerBlock’s Merchandise
LedgerBlock has no retailable services or products.
Associates are solely in a position to market LedgerBlock affiliate membership itself.
LedgerBlock’s Compensation Plan
LedgerBlock associates make investments 50 to twenty,000 tether (USDT). That is achieved on the promise of a month-to-month return.
LedgerBlock’s month-to-month returns begins at 0.7% a day. This fee will increase by 0.1% a month till 3% a day is reached.
To go from 0.7% a day to three% a day takes 44 months (3.6 years).
The MLM aspect of LedgerBlock pays on recruitment of affiliate buyers.
LedgerBlock Affiliate Ranks
There are 5 affiliate ranks inside LedgerBlock’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll as a LedgerBlock affiliate
- V1 – make investments at the least 100 USDT and generate at the least 1000 USDT in downline funding (could be self-funded)
- V2 – preserve a 100 USDT funding and have three V1 or larger ranked associates in your downline
- V3 – preserve a 100 USDT funding and have three V2 or larger ranked associates in your downline
- V4 – make investments at the least 1000 USDT and have three V3 or larger ranked associates in your downline
- V5 – make investments at the least 3000 USDT and have three V4 or larger ranked associates in your downline
- V6 – make investments at the least 5000 USDT and have three V5 or larger ranked associates in your downline
- V7 – make investments at the least 7000 USDT and have three V6 or larger ranked associates in your downline
- V8 – make investments at the least 9000 USDT and have 4 V7 or larger ranked associates in your downline
- V9 – make investments at the least 11,000 USDT and have 4 V8 or larger ranked associates in your downline
- V10 – make investments at the least 13,000 USDT and have 4 V9 or larger ranked associates in your downline
- V11 – make investments at the least 15,000 USDT and have 4 V10 or larger ranked associates in your downline
- V12 – make investments at the least 20,000 USDT and have 5 V11 or larger ranked associates in your downline
Observe that to qualify in direction of rank qualification, ranked recruited associates should be in separate unilevel staff legs.
Referral Commissions
LedgerBlock associates earn a every day 0.5% match on USDT invested by personally recruited associates.
Management Rewards
Management Rewards see ranked LedgerBlock associates earn a every day bonus share of USDT invested by their downline.
LedgerBlock pays Management Rewards by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned immediately underneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
LedgerBlock caps what number of unilevel staff ranges Management Rewards are paid on based mostly on rank:
- V1 ranked associates earn a 0.3% Management Reward fee throughout 5 ranges
- V2 ranked associates earn a 0.5% Management Reward fee throughout ten ranges
- V3 ranked associates earn a 0.7% Management Reward fee throughout fifteen ranges
- V4 ranked associates earn a 0.9% Management Reward fee throughout twenty ranges
- V5 ranked associates earn a 1.1% Management Reward fee throughout twenty ranges
- V6 ranked associates earn a 1.3% Management Reward fee throughout twenty ranges
- V7 ranked associates earn a 1.5% Management Reward fee throughout twenty ranges
- V8 ranked associates earn a 1.6% Management Reward fee throughout twenty ranges
- V9 ranked associates earn a 1.7% Management Reward fee throughout twenty ranges
- V10 ranked associates earn a 1.8% Management Reward fee throughout twenty ranges
- V11 ranked associates earn a 1.9% Management Reward fee throughout twenty ranges
- V12 ranked associates earn a 2% Management Reward fee throughout twenty ranges
Matching Bonus
The Matching Bonus pays out a share of every day returns paid to recruited downline associates.
- V1 ranked associates earn a 1% Matching Bonus down 5 unilevel staff ranges
- V2 ranked associates earn a 1% Matching Bonus down ten unulevel staff ranges
- V3 ranked associates earn a 1% Matching Bonus down fifteen unilevel staff ranges
- V4 ranked associates earn a 2% Matching Bonus down twenty unilevel staff ranges
- V5 ranked associates earn a 2% Matching Bonus down twenty-five unilevel staff ranges
- V6 ranked associates earn a 2% Matching Bonus down thirty unilevel staff ranges
- V7 ranked associates earn a 2% Matching Bonus down thirty-five unilevel staff ranges
- V8 ranked associates earn a 3% Matching Bonus down forty unilevel staff ranges
- V9 ranked associates earn a 3% Matching Bonus down forty-five unilevel staff ranges
- V10 ranked associates earn a 3% Matching Bonus down fifty unilevel staff ranges
- V11 ranked associates earn a 3% Matching Bonus down fifty-five unilevel staff ranges
- V12 ranked associates earn a 3% Matching Bonus down sixty unilevel staff ranges
World Revenue Pool
LedgerBlock takes 1% of every day company-wide funding and positioned it into the World Revenue Pool.
The World Revenue Pool is paid out equally amongst V12 ranked associates.
Becoming a member of LedgerBlock
LedgerBlock affiliate membership is free.
Full participation within the hooked up earnings alternative requires a minimal $50 funding in tether (USDT).
LedgerBlock Conclusion
LedgerBlock’s advertising and marketing ruse is a bunch of blockchain mEtAvErSe waffle:
What does any of that should with LedgerBlock’s MLM alternative?
Completely nothing.
By providing every day passive returns, LedgerBlock’s MLM alternative constitutes a securities providing.
LedgerBlock fails to supply proof it has registered with monetary regulators, in Malaysia or wherever else on the earth.
Because of this at a minimal, LedgerBlock is commtting securities fraud.
Why would LedgerBlock choose to commit securities fraud?
As a result of LedgerBlock is operating a easy 3% a day crypto Ponzi scheme, dressed up in staking associated terminology.
The MLM aspect of the enterprise financially incentivizes affiliate investor recruitment, including an extra pyramid layer to the scheme.
LedgerBlock slow-dripping its 3% a day ROI fee serves two major functions:
- it additional ensures that early buyers will drain subsequent funding; and
- disincentivizes withdrawals lest the total quantity be withdrawn and the every day ROI fee timer be reset.
As with all MLM Ponzi schemes, as soon as affliate recruitment dries up so too will new funding.
This may starve LedgerBlock of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, nearly all of members lose cash.
LedgerBlock’s exit-scam of selection seems to be “LedgerCoin”:
No thought if that is the precursor to “avatar coin” or one thing else.
Both means it appears as soon as LedgerBlock has collapsed, buyers will likely be left bagholding a number of nugatory Ponzi shitcoins.
