The iEarnBot Ponzi scheme has collapsed.
From what I’ve been in a position to piece collectively, iEarnBot disabled withdrawals on Christmas Day, December twenty fifth, 2022.
iEarnBot’s exit-scam ruse was fee processor issues, as detailed in a December twenty fifth “announcement”;
On 12/25 IEARN BOT is about to alter to a brand new operator, as a result of the present cooperative operator can’t resolve the withdrawal downside inside immediately.
So we’re at the moment altering companions, however there are lots of holidays close to the top of the 12 months, and it takes 5-10 days for work handover and ideal system settings.
IEARN BOT is sorry for the inconvenience induced to you throughout this era, however nonetheless thanks most members for his or her assist.
We are going to full the restore work as quickly as attainable within the shortest attainable time, hereby want everybody “Merry Christmas”.
Shortly thereafter iEarnBot disabled withdrawals. A “new launch” of iEarnBot was introduced on January seventh. This was adopted up by baloney about “chaining” on March sixth:
Whereas iEarnBot’s web site and social media profiles are nonetheless on-line nonetheless, withdrawals stay disabled.
Presumably after being contacted by iEarnBot victims, the BBC ran a narrative yesterday claiming “hundreds might have misplaced out”.
The article options enter from iEarnBot victims in Romania and Colombia.
Romanian iEarnBot victims had been purportedly recruited by Gabriel Garais.
Garais is the Vice-Dean at Romanian-American College, the place he claims to have additionally studied economics.
Regardless of this, Garais didn’t see an issue with an MLM firm pitching as much as 0.5% a day. The lure of creating a fast buck recruiting Romanians right into a Ponzi scheme was evidently an excessive amount of.
When BehindMLM reviewed iEarnBot in October 2022, site visitors estimates urged lively recruitment in Burkina Faso, Venezuela and Bangladesh.
As of February 2023, SimilarWeb now ranks prime iEarn Bot site visitors sources as Slovenia (23%), Spain (18%), Egypt (17%), Kazakhstan (15%) and South Africa (14%).
It’s value noting although, that since iEarnBot collapsed, web site site visitors has fallen off a cliff:
Whereas we don’t know the whole variety of iEarnBot victims, we all know they’re more likely to be from third-world nations.
Based mostly on BehindMLM’s preliminary iEarnBot evaluation, the Ponzi scheme was doubtless run by Chinese language scammers working out of Vietnam and/or Cambodia.