Rich Net Global Review: Uncovering a 2.5% Daily Crypto Ponzi Scheme

Rich Net Global, a cryptocurrency investment venture, has emerged on the scene, but alarmingly, it fails to provide any transparent ownership or executive information on its website.

In this review, we will delve into the concerning aspects of Rich Net Global, highlighting the red flags that investors need to be aware of.

Dubious Leadership and Incorporation

Despite offering details about their Board of Directors and executive management, a closer look reveals that these profiles consist of fabricated names accompanied by stock photos.

This lack of authenticity immediately raises suspicions about the credibility of this scam

Furthermore, the website domain, “richnetglobal.net,” was privately registered on February 23rd, 2023, which adds to the uncertainty surrounding this venture.

While it flaunts an incorporation certificate for Rich Net Global LTD, it’s crucial to note that this entity was incorporated in the UK on July 7th, 2023.

Unfortunately, the UK is notorious for its lenient incorporation regulations and the absence of active MLM-related securities fraud regulation by the FCA, the UK’s primary financial regulator.

This combination makes the UK an attractive jurisdiction for scammers to establish and promote fraudulent enterprises.

Hence, the UK incorporation or FCA registration holds little significance in terms of MLM due diligence.

Lack of Legitimate Products

It also falls short in offering any tangible retail products or services for sale.

Affiliates are left with only one option – to promote it’s affiliate memberships, a classic characteristic of Ponzi schemes.

Compensation Plan

Rich Net Global entices affiliates to invest in cryptocurrency with the promise of lucrative returns. These returns are structured as follows:

1. Bronze – Invest $30 to $5000 and receive 2% daily for 80 days.

2. Silver – Invest $5001 to $25,000 and receive 2.5% daily for 64 days.

3. Gold – Invest $25,001 to $50,000 and receive 3% daily for 55 days.

4. Platinum – Invest $50,001 to $99,999 and receive 3.5% daily for 50 days.

The MLM aspect of Rich Net Global primarily rewards affiliates for recruiting new investors.

Referral Commissions

This scam offers a 10% referral commission on the funds invested by personally recruited affiliates.

Residual Commissions

To qualify for residual commissions, affiliates must maintain an active investment.

These commissions are distributed using a binary compensation structure.

This structure involves placing affiliates at the top of a binary team, divided into two sides.

Each level of the binary team expands as new positions are filled, with no depth limit.

Affiliates receive 10% of the investment volume from their weaker binary team side.

Joining Rich Net Global

Becoming a Rich Net Global affiliate is free, but full participation in the income opportunity necessitates a minimum investment of $30 in various cryptocurrencies.

Unsubstantiated Revenue Claims

Rich Net Global alleges that its revenue derives from gold mining and cryptocurrency trading.

However, there is no concrete evidence to support these claims.

This raises questions about the legitimacy of their revenue sources, especially when they promise daily returns of 3.5%.

If their mining and trading activities were as profitable as stated, why would they need additional investments? It suggests that their gold mining and trading activities are likely fictitious.

Ponzi Scheme Indicators

Rich Net Global’s reliance on new investments to pay affiliate withdrawals is a classic Ponzi scheme characteristic.

As with all Ponzi schemes, once recruitment stalls, the flow of new investment dries up, leading to a collapse.

Unfortunately, in such scenarios, the majority of participants end up losing their investments.

Conclusion

In conclusion, Rich Net Global exhibits multiple red flags that strongly indicate its operation as a Ponzi scheme.

The lack of transparency regarding ownership and revenue sources, combined with unsustainable promises of high daily returns, are clear warning signs.

Potential investors should exercise extreme caution and conduct thorough due diligence before considering any involvement with Rich Net Global.

Remember, in the world of cryptocurrency investments, if something appears too good to be true, it often is.