LedgerBlock operates within the MLM cryptocurrency area of interest.
LedgerBlock operates from the area “ledgerblock.web”, 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 determine themselves as “Romeo and Amanda”.
If LedgerBlock posting a pacesetter’s summit video earlier than its web site area was registered strikes you as odd, that’s as a result of it’s.
Be aware the “HyperLedger” emblem within the prime proper of the above video. I imagine LedgerBlock may need beforehand launched beneath this identify.
LedgerBlock’s YouTube channel was created in October 2022, so HyperLedger’s launch would have been transient earlier than switching over to LedgerBlock.
Regardless of the story is, LedgerBlock seems to have held a advertising 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. 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 accomplice with blochain [sic] companies, certainly 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 capable of piece collectively, Sykes transitioned from reputable enterprise pursuits to cryptocurrency in 2021.
Sykes’ Blockworq government 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 taking part in Andrew James.
Govt co-conspirators on LedgerBlock’s web site embody Adam Lester and Dato Asmawey Bin Hussain.
Paradoxically, Hussain is cited as President of Crime Prevention & Consciousness Board of Malaysia.
Be it these charlatans or another person, whoever is working LedgerBlock is clearly based mostly out of Malaysia.
Dubai, the MLM crime capital of the world, is one other chance:
Promoters are working round claiming LedgerBlock is holding an occasion in Dubai in Could. On the occasion LedgerBlock will launch an “avatar” shitcoin and in-house crypto change.
On the company aspect of issues, LedgerBlock cites itself as “SMB LedgerBlock China Group”:
Oh and simply in case Paul Sykes tries to drag the ol’ “they stole my picture!” ruse, right here he’s taking part in Andrew James in-person at LedgerBlock’s January 2023 advertising occasion:
As of February 2023, SimilarWeb ranks prime 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 isn’t overtly upfront about who’s working or owns it, assume 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 capable of market LedgerBlock affiliate membership itself.
LedgerBlock’s Compensation Plan
LedgerBlock associates make investments 50 to twenty,000 tether (USDT). That is finished 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 a minimum of 100 USDT and generate a minimum of 1000 USDT in downline funding (will be self-funded)
- V2 – preserve a 100 USDT funding and have three V1 or increased ranked associates in your downline
- V3 – preserve a 100 USDT funding and have three V2 or increased ranked associates in your downline
- V4 – make investments a minimum of 1000 USDT and have three V3 or increased ranked associates in your downline
- V5 – make investments a minimum of 3000 USDT and have three V4 or increased ranked associates in your downline
- V6 – make investments a minimum of 5000 USDT and have three V5 or increased ranked associates in your downline
- V7 – make investments a minimum of 7000 USDT and have three V6 or increased ranked associates in your downline
- V8 – make investments a minimum of 9000 USDT and have 4 V7 or increased ranked associates in your downline
- V9 – make investments a minimum of 11,000 USDT and have 4 V8 or increased ranked associates in your downline
- V10 – make investments a minimum of 13,000 USDT and have 4 V9 or increased ranked associates in your downline
- V11 – make investments a minimum of 15,000 USDT and have 4 V10 or increased ranked associates in your downline
- V12 – make investments a minimum of 20,000 USDT and have 5 V11 or increased ranked associates in your downline
Be aware 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 prime of a unilevel staff, with each personally recruited affiliate positioned immediately beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 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
International Revenue Pool
LedgerBlock takes 1% of every day company-wide funding and positioned it into the International Revenue Pool.
The International Revenue Pool is paid out equally amongst V12 ranked associates.
Becoming a member of LedgerBlock
LedgerBlock affiliate membership is free.
Full participation within the connected revenue alternative requires a minimal $50 funding in tether (USDT).
LedgerBlock Conclusion
LedgerBlock’s advertising ruse is a bunch of blockchain mEtAvErSe waffle:
What does any of that must 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 anyplace else on the earth.
Which means at a minimal, LedgerBlock is commtting securities fraud.
Why would LedgerBlock decide to commit securities fraud?
As a result of LedgerBlock is working 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 a further 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 complete 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 can starve LedgerBlock of ROI income, ultimately prompting a collapse.
The mathematics behind Ponzi schemes ensures that after 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 can be left bagholding a number of nugatory Ponzi shitcoins.
