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Mobicryp is a cryptocurrency mining platform that allows users to mine USDT. On November 14th, 2022, a new platform was launched in Mandarmani, Kolkata. It was founded by four cryptocurrency entrepreneurs: Abhishek Bhandari, Ankit Bhasin, Siddharth Shukla, and Anshit Jindal. The app was created as a by-product of the Cryptocurrency and blockchain company, Crypque. Mobicryp has been the subject of much controversy, with some people claiming that it is a scam.
Mobicryp, portrayed as “powered by Tronado” in its logo, has gained attention in the MLM community. Tronado, an MLM crypto platform centered around the TRDO token, serves as the foundation for Mobicryp’s operations. However, the individuals behind Tronado remain shrouded in mystery, with speculation suggesting ties to India. Mobicryp follows suit by withholding ownership and executive details on its website.
Products: A Void of Tangible Offerings
In its quest to establish a veneer of credibility, Mobicryp falters at providing tangible products or services for retail. Affiliates are limited to promoting Mobicryp’s affiliate memberships, revealing a distinct lack of actual products within the company’s framework.
The Mobicryp Compensation Plan: Investing in TRDO Tokens
Mobicryp’s compensation structure revolves around an investment system utilizing Tronado’s TRDO tokens. The fees paid in TRDO determine the investment tiers in USDT (Tether):
|Affiliate Pay||Minimum Investment||Maximum Investment|
|27.5 USDT||150 USDT||25 USDT|
|55 USDT||300 USDT||50 USDT|
|110 USDT||600 USDT||100 USDT|
|275 USDT||1500 USDT||250 USDT|
|550 USDT||3000 USDT||500 USDT|
|1100 USDT||6000 USDT||1000 USDT|
|2750 USDT||15,000 USDT||2500 USDT|
|5500 USDT||30,000 USDT||5000 USDT|
|11,000 USDT||60,000 USDT||10,000 USDT|
|27,500 USDT||150,000 USDT||25,000 USDT|
|55,000 USDT||300,000 USDT||50,000 USDT|
|110,000 USDT||600,000 USDT||100,000 USDT|
|550,000 USDT||5,000,000 USDT||500,000 USDT|
|1,100,000 USDT||10,000,000 USDT||1,000,000 USDT|
These investments promise returns, accessible by logging in and clicking a button either every 12 hours or 30 days. Two mechanisms, “Self Minting” and “Auto Minting,” offer returns at different intervals, both capped at 250%.
Mobicryp’s MLM Structure: Recruitment Drives Earnings
Mobicryp’s MLM structure is grounded in recruiting new affiliate investors. Affiliates progress through various ranks based on their downline affiliate fee volumes, each rank accompanied by distinct qualification criteria.
Referral and Residual Commissions: A Complex Framework
Affiliates earn a 10% commission on TRDO fees paid by personally recruited affiliates. The platform also employs a binary compensation structure, with residual commissions calculated from the weaker binary team side. This dynamic rewards affiliates with 10% of the new USDT fee volume on the weaker side.
ROI Match and Rank Achievement Bonuses:
Mobicryp introduces an ROI match system through a uni-level compensation structure, rewarding affiliates for generating fee volumes across multiple levels. The platform further incentivizes affiliates through Rank Achievement Bonuses, offering varying rewards upon achieving specific ranks.
Joining Mobicryp: Investment in TRDO Tokens
Although Mobicryp’s affiliate membership is free, active participation requires an initial TRDO token fee ranging from 27.5 to 1,100,000 USDT, paired with additional investments ranging from 150 to 10 million USDT based on the fee paid.
Mobicryp’s operational model raises suspicions of its affiliation with the Tronado Ponzi scheme or potential involvement in its side-Ponzi venture. The use of the TRDO token as an entry fee is telling of its questionable value. Mobicryp’s claims of generating external revenue through tether minting are unsubstantiated, as Tether mints its tokens. The platform’s revenue sources seem to rely solely on new TRDO fees and tether investments.
Given the parallels with Ponzi schemes, Mobicryp’s future seems bleak. As recruitment dwindles, the inflow of new investments will cease, resulting in a collapse and financial losses for most participants—a common fate shared by MLM Ponzi schemes.
Several red flags suggest that Mobicryp is a scam, including:
- The company is not registered with any financial regulator.
- The website is full of grammatical errors and typos.
- The referral program is very aggressive and rewards members for recruiting new investors.
- The company claims to have a mining farm, but there is no evidence to support this claim.
- The company has a history of making false promises.
The Dubai Connection: MLM Crime Capital
Mobicryp endeavors to legitimize itself by presenting a UK incorporation certificate under the name “Mobicryp Minting Solutions Limited.” Yet, the use of the UK as a base for MLM companies often raises skepticism due to lax regulations and minimal oversight from financial regulatory bodies like the FCA. The UK’s reputation as a hub for incorporating fraudulent enterprises further fuels doubts. Intriguingly, Mobicryp also claims affiliation with Dubai, a city notorious for MLM-related scams.
If you are considering investing in Mobicryp, I urge you to do your research and be very careful. Many red flags suggest that this is a scam.
Risks of Cryptocurrency Mining:
It is important to remember that cryptocurrency mining is a risky investment. The value of cryptocurrencies can fluctuate wildly, and there is no guarantee that you will make a profit. You should only invest in cryptocurrency mining if you are comfortable with the risks involved.
Tips for Avoiding Cryptocurrency Scams:
Here are some tips for avoiding cryptocurrency scams:
- Only invest in cryptocurrency platforms that are registered with a financial regulator.
- Do your research on any cryptocurrency platform before investing.
- Be wary of platforms that offer unrealistic returns on investment.
- Avoid platforms that have a history of making false promises.
- Never invest more money than you can afford to lose.
Get Your Money Back Suspicious
Conclusion: The Fallacy of Mobicryp’s Promise
Mobicryp is a cryptocurrency mining platform that is likely a scam. Investors should avoid this platform at all costs. If you are considering investing in cryptocurrency mining, be sure to do your research and only invest in legitimate platforms.
Mobicryp’s partnership with the questionable Tronado and its convoluted compensation plan emphasize the platform’s reliance on unsustainable practices. The lack of tangible products, coupled with dubious affiliations and promises, paints a concerning picture. As with many MLM Ponzi schemes, Mobicryp appears destined for a fate marked by financial losses for the majority of its participants.