Ellev8: Fraudulent Practices and Scam Exposed (2023 Review)

Ellev8 is an investment management and financial advising platform. The company is currently facing trouble since users have complained that it is a fraud and does not allow users to receive their money in return.

Users’ and traders’ comments, evaluations, and reviews indicate that it is a dangerous platform, and everybody must be careful. 


It is an unregulated platform; no information is available regarding its location, founders, or team. All we find are several negative reviews and complaints.

When it comes to partnering with a trading broker, iBuumerang’s partnership with Ellev8 as a trading partner under MBA raises red flags.

Ellev8 presents a technique that resembles multiples come, and it is. So expecting any form of special treatment from the firm needs to be revised. The company does not disclose any information about its founders or team.

What Do The Users Say About Ellev8?

No Regulation

This company is a SCAM, according to a crypto enthusiast. Many investors are complaining that their money has yet to be returned. He went on to say that no one should ever trust or invest in an unregulated broker. 


Ellev8 has a lot of fake positive feedback, and they try to fool investors by pretending to be a legal company, but it’s all lies. If we try to uncover their real identity and write an article about them, they claim that we compete with them. 

If you want to withdraw your capital or profits, they will make thousands of excuses and demand that you pay a commission or another ransom, indicating that Ellev8 is a fraud. Don’t fall into the trap; those commissions aren’t real; they’re just a way for them to make more money from you.

How Ellev8 Scams People

A user talked about how Ellev8 scammed him. He stated that no one told him about the return policy before he joined and that the company forced him to spend $440. The company promised him money in return, but he has not received it. 

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He listened and did what his mentor told him, but they never told him how he would get paid, and all they did was push him to waste his last bit of money and ruin his life financially. In his experience, he has found it to be a complete scam.


A user claimed that It’s another Crypto/Forex trading scam, the mushroom coffee MLM changed it’s name to the Happy Co. in 2020 or 2021.


What is Ellev8?

It is a platform for investment management and financial advising. False statements such as “participants will also have early-stage opportunities to participate in new NFT projects” are a tactic for the company to attract new consumers.

By bringing Cryptocurrency trading and Web 3.0 into Ellev8’s educational platform, company claims that users can learn about relevant emerging technologies and how to navigate them and be the most successful.

Ellev8’s education platform has seen thousands of users become popular Forex traders and Super Students since its launch in April 2021. Users learn by watching live or recorded training and lessons from Forex experts on the platform, which is set up in a classroom-style style. However, this is a brief assertion from Ellev8 Founder Holton Buggs; now, let us look at the truth of Ellev8:

  • Ellev8’s location is unknown, and the company gives no information about it.
  • The owners’ real names are still unknown. 
  • Nobody knows where the Ellev8 offices are currently located.
  • When it comes to regulation, the Ellev8 platform makes no mention of it.
  • Ellev8 provides very little information about its product, and the company provides no additional relevant details.

Why Is Ellev8 Not Safe?

With the information we have so far, the comments, evaluations, and reviews of users and traders, we believe that it looks like a platform with which we must be careful. We would not recommend it to anyone.

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Why? It is an unregulated platform; we also do not know where it is located; on the other hand, when looking for information and other evaluations of ellev8, we find numerous bad reviews and complaints, as well as general unfavorable feedback.

Here are a few reasons why it is not safe to buy in Ellec8:

  • Unregulated company.
  • Little transparent company.
  • Bad Reputation 
  • Many users complained.
  • Unsafe location.
  • You will most likely have difficulty withdrawing your funds.
  • In general, an extremely dangerous company.

About ibuumerang and Its Owner Holton Buggs

Ibuumerang, officially launched on September 1, 2019, is an MLM company that claims to be a customer-centric company that gives back without asking for anything in return. 

The company demonstrated its focus on “Travel and Trade,” ibuumerang formed its objective by providing unique lifestyle products and services to improve the lives of Ambassadors and customers. ibuumerang pioneered the “you only earn when your customers save” philosophy.

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Holton Buggs has over 30 years of network marketing experience. He is the founder, chairman, and CEO of the MLM company ibuumerang.

At the age of 24, Holton went on to another MLM. He’d heard that as a regional director for the business, he might earn up to $20,000 per month. Holton Buggs has an estimated net worth of USD 70 million.

How ibuumerang & Ellev8 Work 

ibuumerang does not offer any suitable operating style. The company appears to be mostly focused on multi-level marketing services. Furthermore, it has a business partnership with Ellev8 under MBA. When it comes to partnering with a trading broker, this raises red flags.

Nonetheless, the market is highly volatile. As a result, there is no such thing as predictable returns on your hard-earned money.

iBuumerang and Ellev8 provide a technique that resembles multiples come and it is. So expecting special treatment from the firm is illogical. The broker does not share any information about who is running the company.

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Ellev8 is not a legitimate platform because it is unregulated; no one knows where it is located. Conversely, when searching for information and other reviews of ellev8, we find several negative reviews, complaints, and general negative feedback.

Ellev8 is not on the radar of any trustworthy regulator. Furthermore, offering financial services without obligatory regulatory procedures is illegal. Various countries have established accountable authorities for authorizing and regulating trading platforms.

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