ETFore Review: Is It a Crypto Ponzi Scheme? The Truth Exposed (Latest Update 2023)

ETFore
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ETFore is a cryptocurrency MLM slot. ETFore Limited is said to have been founded & owned by Christopher Valentini. Valentini, according to the company, is not even available on the Internet or in the retail space. 

Our Methodology

We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.

All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.

These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.

6/12/2023 Update
As of now, ETFore has not responded, nor has it apologized for its misdeeds. They have ignored our efforts to highlight the problems faced by their victims. Furthermore, they have only focused on propagating their fake PR.

ETFore Review was founded at the beginning of March and currently runs from two recognized internet domain addresses as follows:

  • Etfore.com- privately registered on March 31st 2023.
  • Growetfore. company- privately registered on April 21st, 2023. 
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Even though the organization, ETFore Review, has only been active for a brief period on its official web page. ETFore fraudulently states that it has been in operation since 2016, which is not true. 

Kenneth Lacey created ETFore’s official advertising appearance, according to the majority of the study. 

Kenneth Lacey Picthes, according to social media, presents himself as a liberal influence representing Poland. 

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Kenneth Lacey was also the “chief” in the Ponzi scheme called Model Farming.

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Spiritual Model Farming began in 2021 and ended in the middle of 2022

Kenneth Lacey pitched a remake called MFL Mart on the thirteenth of August, the year 2022.

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Whatever MLM Mart contained has long since vanished. Whether Kenneth Lacey was simply a marketing leader in Spiritual Model Farming, the way he participated in bringing out ETFore’s marketing literature implies greater engagement. 

How exactly does a Ponzi scheme operate?

An investment fraud known as a Ponzi scheme draws investors with claims of great returns and no risk but fails to invest the money as stated. Instead, it pays off earlier investors with money from future investors while maybe keeping a portion of the profits. These schemes typically fail when recruiting investors becomes challenging or when multiple investors attempt to cash out. They depend on a steady flow of new buyers to operate. They are called after Charles Ponzi, who ran a similar scam using postal stamps in the 1920s.

ETFore Review assists in giving a phony name in New York for the website’s site name that corresponds to the province of Canada to make it seem legitimate. 

If you have sensitive information or have had a personal experience with ETFore but want to stay anonymous, then submit it using our secured form. You can connect with our expert contributors and help in finding the truth. We never share your information with 3rd parties.

ETFore Review additionally supports the provision of Hong Kong & New York fake business establishment certifications. 

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Because of the simplicity with which fraudsters can construct dummy businesses using fictitious information, these documents are useless for MLM verification.

Last but not least, ETFore Review may contain connections with My BTC Mining:

FAQ about ETFore Review.

For instance, My BTC Mining had been a brief staking cryptocurrency Ponzi scheme that failed in late 2022.

Staking Chat of My BTC Mining: 

BTC 0.40%0.70%0.90%1.30%

As always, once a multilevel marketing firm fails to be honest regarding who operates or regulates it, consider twice before enrolling and transferring money to them.

Products of ETFore Review 

ETFore Review does not provide any retailable goods or commodities. Affiliates are limited to promoting ETFore Review affiliations on their own. 

Compensation Plan of ETFore Review

ETFore subsidiaries deploy money based on the claimed passive return on investment:

Affiliates Invest Receive 
Bronze $100 to $99991.5% a day for 150 days
Silver $10,000 to $24,9991.7% a day for 150 days
Gold $25,000 to $49,9992.15% a day for 135 days
Platinum $50,000 to $99,9992.5% a day for 135 days

ETFore’s MLM component makes money by recruiting associate traders.

Withdrawal Limitations of ETFore Review

ETFore severely restricts transfers to keep as much cash within the platform as possible at any given point in time:

Profit Withdrawal:

Withdrawal Dates- 5th, 25th, and 25th of each month. 

Withdrawal Timings- 1 PM to 6 PM as per New York Times. 

Minimum Withdrawal Amounts- $20 plus 7% fees.

Bonus Withdrawal:

Withdrawal Dates- Every Friday.

Withdrawal Timings- 1 PM to 4 PM as per New York Times.

Minimum Withdrawal Amounts- $20 plus 7% fees. 

  • Investment transactions are allowed on three occasions a month, for a total of five hours on the 5th, 15th, and 25th.
  • Each Friday, for three hours, MLM compensation transactions are enabled.

According to the company’s website, everyone has to keep in mind that the ETFore imposes a 7% charge on all requests for withdrawals.

Referral Commission of ETFore Review

ETFore gives commissions for referrals on money invested at 3 recruiting tiers: 

  • Level 1- 7%
  • Level 2- 2%
  • Level 3- 1%

Residual Commission of ETFore Review

ETFore uses a binary incentive mechanism to pay leftover fees.

In an online binary payment system, a partner is placed at the highest level of a binary group, which is divided between two halves from left to right:

The first stage of the binary group dwellings is divided into two sections. The second layer of the team’s binary house is created by dividing the original two places into two more roles, for an overall total of four roles.

As needed, additional levels of the binary group are constructed, every successive stage containing double the number of spots as the preceding level.

Levels on the binary team are filled through direct and indirect affiliate recruitment. It should be noted that there is no limitation to how thick a binary group may become.

ETFore claims that the latest investment activity is on each side of the binary choice after every single day.

Associates receive a proportion of this sales volume depending on their investment:

Affiliates CommissionsInvestment 
Bronze tier 8%$1000 a day 
Silver-tier 8%$2500 a day 
Gold tier 9%$5000 a day 
Platinum tier 9% $10,000 a day

Joining ETFore 

ETFore membership as an affiliate is completely complimentary.

A hundred-dollar commitment is required to fully participate in the linked earning potential.

Conclusion of ETFore Review 

In general, ETFore Review has a completely novel advertising ploy; it is essentially an update on Spiritual Model Framing. 

Spiritual Model Farming, on the other hand, purports to generate cash through agricultural operations. ETFore Review has employed several economic ruses.

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According to reports, whoever operated Model Farming was never made open to everyone, making it difficult to determine if the same fraudsters are operating the ETFore Review.

Undoubtedly, there is a certain crossover in terms of advancement, as evidenced by Kenneth Lacey’s engagement.

In any case, ETFore Review fails to demonstrate outside income creation.

In addition, the ETFore Review encourages investing by promising an indifferent yield. This is a service providing, and ETFore Review needs to file with financial regulatory agencies.

ETFore Review, for the most part, failed to produce proof that it has been filed with securities regulators across the nation. It is important to understand that forming a shell of the corporation is not the same as registering with securities regulators or producing financial reports that have been audited.

Source

Similarly in other MLM frauds, when associate recruiting is exhausted, fresh capital will become scarce.

The following is going to deprive ETFore of ROI earnings, eventually contributing to its demise.

The Ponzi scam formula ensures that whenever schemes fail, a great deal of those involved lose their wealth.

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ETFore Review currently limits associate transfers severely. Once the day arrives, vanishing will seem insignificant.  

About the Ponzi Scam Scheme

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Ponzi schemes claim that they are mostly used to entice investors by offering enormous profits with no or little danger but are total fraud. Because the initial investors frequently saw a substantial comeback from the initial Ponzi Swindles the participants’ focus and trust. 

Ponzi schemes inevitably fail when the flow of fresh investor funds decreases to the point where investors can no longer be paid.

ETFore Review: Is It a Crypto Ponzi Scheme? The Truth Exposed (Latest Update 2023)
ETFore Review: Is It a Crypto Ponzi Scheme? The Truth Exposed (Latest Update 2023)

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