I’d like to inform you that MineBase is a Ponzi Scheme in the simplest terms possible. I’ll now go into detail about MineBase Harald Seiz. Therefore, let’s learn more about the following facts:
You can help us put a stop to online scams before they grow too big and end-up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.
Harald Seiz claims to have been a successful financial counselor since 1978. He was born in Calw, close to Stuttgart, Germany, in 1963. He established the Karatbars International GmbH in Stuttgart in 2011 and currently serves as its managing director. Since then, he asserted, the company has continuously and successfully gone global.
The most recent invention of Harald Seiz is MineBase. Seiz, a German national, is well known in the MLM sector for defrauding several people through Karatbars International.
In 2011, Karatbars International launched a pyramid scheme with a gold motif.
Around 2017–2018, Seiz teamed up with Josip Heit, the owner of Gold Standard Bank.
Karatbars transitioned into cryptocurrency fraud because of this relationship.
The KaratBank initial coin offering (ICO) in early 2018 was Karatbars International’s first known case of cryptocurrency fraud.
KaratBank failed, but Seiz and Heit eventually launched KaratGold Coin (KBC).
KBC publicly launched on July 4th, 2019, after Karatbars International investors had been hyped for months with the promise that 100 KBC would be transferable for 1 gram of gold.
It was disastrous to launch KBC. KBC lost 62% in a few days after Seiz failed to keep his promise to provide 1 gram of gold.
Seiz and Heit hid out for the majority of 2019 and 2020, sitting on the money they had bilked investors out of.
2020 saw the introduction of “Gold Standard” and yet another token redesign. This time, G999 appeared.
These plans were no longer viable by September. Freebay and V999, a subsidiary of the G999 token, were first advertised by Harald Seiz.
Harald Seiz and Josip Heit had a fight somewhere between the announcement of Gold Standard and the release of Freebay (about in the middle of 2020).
With the G999 token, Heit launched GSPartners before the end of 2020 after severing ties with Karatbars.
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.
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By the end of 2020, Freebay had crumbled, which led to Seiz’s extremely public breakdown.
There was radio silence for the next six months. Seiz eventually made a comeback in June 2021 with Lifebase.
After a few months, Lifebase crumbled. Seiz promised a legitimate Karatbars International revival in an email he delivered to his victims in December 2021.
What is a Ponzi Scheme?
A Ponzi scheme is a criminal deception investing fraud pledging increased rates of interest with less chance of loss to investors. On the other hand, a Ponzi scam is a deceitful investing fraud that induces retrievals for earlier investors with money carried from later investors.
That was never the case.
As an alternative, Acua Wellington contacted the victims of Karatbars International in April 2022.
Investors from Karatbars International were deceived into a recovery scam using the Acua Wellington brand back in June.
Regardless of what Acua Wellington was, it is no longer. Karatbars International has now been relaunched as MineBase by Harald Seiz.
It hasn’t personally seen the email, but from what is gathered, investors in Karatbars International received it recently.
The email informed them that their remaining V999 tokens had been exchanged for MBASE tokens.
Further instructions were given to Karatbars affiliates to use their Karatbars International login information to access MineBase’s website.
The initial launch was so ridiculously awful that it was considered a different recovery fraud.
Despite the fact that Seiz seems to be in command of MineBase, the early recovery scam nature of its introduction raises the possibility that he is collaborating with Russian scammers.
Two well-known internet domains are used by MineBase Harald Seiz:
On May 1st, 2022, a private registration for “minebase.io” was made.
Private registration for “minebase.com” was last updated on April 28th, 2023.
Moving forward until the middle of 2023, MineBase Harald Seiz is still operating. There have been requests for an official BehindMLM review because the MLM component of the company is more developed.
It ought to be mentioned that regulatory attention has been focused on the following Harald Seiz schemes in the period leading up to MineBase:
- In 2014, Canada issued a fraud alert for Karatbars International.
- In 2016, Canada outlawed Karatbars International and punished a number of promoters.
- In 2019, Namibia received a scam alert from Karatbars International.
- 2019 saw concerns about the Karatbars International scam from Germany and South Africa.
- In 2020, New Zealand issued a fraud alert for Karatbars International.
- The Bahamas and Canada’s Ontario Securities Commission both issued fraud alerts for Karatbars International in 2020 and 2021, respectively.
- In 2021, New Zealand issued a Freebay scam alert.
- In 2022, the BaFin of Germany issued a cease and desist order to Karatbars International.
- In 2023, the Alberta Securities Commission of Canada issued a fraud alert regarding Karatbars International.
Seiz, who was born in Germany, eventually emigrated to Thailand. This was made public after a German court issued an arrest order for Seiz a few months ago.
Since there have been no new developments, it is likely that Seiz is still wanted by German police.
BehindMLM is unable to establish Seiz’s present whereabouts because his departure from social media (Facebook in 2021 and Instagram last year) coincides with his going on the run.
Products of MineBase Harald Seiz
The marketing for MineBase Harald Seiz lists various product categories:
All of these are unrelated to the MLM opportunity offered by MineBase.
The Compensation Plan for MineBase Harald Seiz
MBASE tokens is purchased using tether (USDT) by MineBase Harald Seiz affiliates. This is done with the expectation of receiving a 500% ROI in 18 months.
- Invest $100 USDT to acquire 250 MBASE tokens, and then after 18 months, receive $500 USDT with the “1 Star Package”
- Invest 500 USDT, get 1250 MBASE tokens, and after 18 months, get 2500 USDT with the “2 Star Package”
- Invest $1,000, get 2,500 MBASE tokens, and then after 18 months, cash out $5,000 with the “3 Star Package”
- An investment of 3,000 USDT will yield 7,500 MBASE tokens, and after 18 months, a total of 1,500 USDT will be due.
- Invest 5000 USDT, get 12,500 MBASE tokens, and then after 18 months, cash out 25,000 USDT with the “5 Star Package”
The MLM side of MineBase pays for the recruitment of affiliate investors.
Affiliate Ranks for MineBase Harald Seiz
The pay structure of MineBase Harald Seiz has five affiliate ranks.
They are as follows, along with the requirements for each criterion:
- Diamond: “You need points to get a commission” (?).
- Black Pearl: enlist ten affiliates who have collectively invested at least 10,000 MBASE tokens.
- Generation: Find at least twenty affiliates.
- Create a downline for Royal Crown that has collectively invested in at least 10 million MBASE tokens.
- You must get to the top level in each business center, according to Royal Crown President. (Note that this is absurd)
Affiliate Commissions of MineBase Harald Seiz
10% of the money that personally recruited affiliates to invest in MBASE tokens goes to MineBase affiliates.
Recurring Commissions of MineBase Harald Seiz
MineBase Harald Seiz uses a unilevel compensation system to pay residual commissions.
An affiliate is put at the head of a unilevel team in a unilevel pay system, and each affiliate they personally selected is positioned immediately under them (level 1).
If any of the level 1 affiliates bring on new affiliates, the new affiliates are added to the original affiliate’s unilevel team at level 2.
If any level 2 affiliates bring on new affiliates, they are promoted to level 3, and so on, and further down a theoretically unlimited number of levels.
A MineBase affiliate must find at least two more affiliates who have purchased MBASE tokens in order to be eligible for residual commissions.
Each week, residual commissions are paid as a proportion of the total downline MBASE token investment.
- receive a residual commission rate of 1.8% if you have 20 affiliates in your downline.
- To earn a further two percent residual commission rate, you must increase your downline’s total investment to at least 10 million MBASE tokens.
You should be aware that any one recruitment leg can count for up to 70% of the required downline affiliates.
Diamond Commissions
Based on the downline’s investment activity in MBASE tokens, MineBase Harald Seiz offers tiers of commission.
On the basis of the following factors, base diamond commissions are determined weekly:
- 2% Diamond Referral rate (requires a minimum downline investment of 500 MBASE tokens).
- Diamond Commission rate of 2.2% for Double Diamonds (downline transaction of a minimum of 12,000 MBASE tokens).
- Diamond Commission rate of 2.4% for Triple Diamonds (downline investment of at least 150,000 MBASE tokens).
It should be noted that a single recruitment leg can only count for up to 70% of the MBASE token investment.
Qualification standards for Diamond Commissions are computed every week. I think payout percentages are based on the weekly qualifying amount generated.
The following eligibility requirements can result in higher Diamond Commission rates:
- A further 2% is given to diamond affiliates who have attracted ten affiliates who have each put down at least 8000 MBASE tokens.
- If they have attracted five affiliates who have each made an investment of at least 90,000 MBASE tokens, Double Diamond affiliates get an extra 2%.
- Affiliates who are Triple Diamonds gain an extra 2% if they bring on three associates who have each contributed at least 1,500,000 MBASE tokens.
- Once a MineBase Harald Seiz associate earns a cumulative 5 million MBASE token investment from their downline, they are rewarded a further 3% Diamond Commission.
Crown President Awards
A MineBase Harald Seiz affiliate who earns all of the commissions and bonuses listed above is eligible to receive 1% of MineBase’s total investment.
Joining MineBase Harald Seiz
The purchase of MBASE tokens using tether is a requirement for MineBase Harald Seiz affiliate membership:
- Package 1 – $100 USDT
- Package 2 Star – 500 USDT
- Package 3 stars, 1000 USDT
- Package 4 stars, 3000 USD
- Package 5 Star – 5000 USDT
MineBase Harald Seiz Conclusion
MineBase Harald Seiz is an incredibly muddled MLM offer. And that’s before we discuss the Ponzi scheme with a 500% ROI that is attached.
I’ve tried my best to provide an overview of MineBase’s compensation structure that is as precise as I can.
Commissions and bonuses are deliberately made difficult by MineBase. It begins by designating specific commissions and bonuses as “business centers”.
A “business center” is typically an income job in MLM. In MineBase Harald Seiz, such is not the case.
Then there are the levels in each incentive and bonus that seem useless.
This seems to be the case for MineBase’s entire payout structure. In all honesty, the result of this is not worth the trouble. And good luck attempting to convince anyone of this rubbish.
I want it to be obvious that this is not someone whining about not knowing something. I have no issue with MLM firms experimenting or putting their own spin on conventional pay schemes.
The MineBase Harald Seiz 500% ROI Ponzi scheme is one illustration of the loss of compensation information. Affiliates that invested in Tether will get MBASE and make a 500% return on their investment after 18 months. The MBASE will then be sold in order to purchase tether.
I think that MBASE is employing the Ponzi model, even though staking isn’t indicated.
It resembles what Seiz’s ex-con accomplice in crime, the Swiss Valorem Bank Ponzi scheme (formerly GSPartners), is doing in several ways.
Despite having a similar 18-month maturity horizon, Heit is only providing a 300% premium over Seiz’s 500%.
In conclusion, MineBase Harald Seiz is a new MLM Ponzi and pyramid scheme from the same person who brought you, MLM Ponzi.
Sadly, Seiz’s arrest by German authorities is unrelated to his involvement in Ponzi schemes and MLM pyramid schemes. When it comes to securities fraud involving MLM and cryptocurrencies, German authorities have been absolutely negligent.
As a result, Seiz keeps picking up fresh victims to con, with no doubt a healthy dosage of Karatbars victims thrown in to try and make up for previous losses.
Get Your Money Back Suspicious
In May 2023, MineBase’s. IO website received just under 800,000 views according to SimilarWeb. Venezuela (17%), the United States (16%), Germany (10%), Switzerland (10%), and Ukraine (8%), accounted for the majority of that traffic’s origins.
In any of these countries, MineBase Harald Seiz is not authorized to provide securities. Because they are operating Ponzi schemes, MLM organizations engage in securities fraud.
Affiliate recruiting will stop, just like new investments will, as is the case with all MLM Ponzi schemes.
This will deprive MineBase Harald Seiz of ROI income, leading to its eventual collapse.
Ponzi schemes are mathematically designed to fail with the vast majority of participants losing money.
