SureX Exchange is a company based in Malaysia, as seen by its Facebook Profile.
The company claims to offer services using Cryptocurrency, it claims to offer a leading secure, comprehensive cryptocurrency derivatives trading platform providing financial services.
The use of Chinese helps us understand that the company has links with people in China.
Jacky Zhou: SureX Exchange CEO
The CEO of SureX Exchange is Jacky Zhou, who is claimed to be a Chinese national and the CMO is Willie Tan, Zhou is a Taiwanese national
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.
SureX Exchange’s Products
SureX Exchange has no retailable products or services.
Affiliates are only able to market SureX Exchange affiliate membership itself
The company can’t be trusted as the company’s website has no mentions/details about the founder(s)
MLM Compensation Structure
There are three passive ROI models
1) Invest for 90 days and receive 0.4% a month
2) Invest for 180 days and receive 0.5% a month
3) Invest for 360 days and receive 0.6% a month
FOLLOW TRADE FUND
SureX Exchange also offers monthly investment plans named“FOLLOW TRADE FUND”
This fund offers 21% per month if affiliates invest 100 to 10000 USDT. Thus trying to deceive more and more people
SureX Exchange offers its affiliates to invest in Liquidity Pools in two shit tokens.
Affiliates working or investing in coordination with SureX Exchange invest tether into SLT.
SLT is known to be an internal shitcoin SureX Exchange represents is pegged to tether.
SLT Liquidity pool withdrawals attract a 10% withdrawal fee.
ST Token was started with an internal 10-cent value, further it got increased by $0.001 per every $100 million in tether dumped into the ST Liquidity Pool.
ST Liquidity Pool withdrawals are paid 90% in the tether and 10% mandatory investment.
SureX Exchange Affiliate Ranks: Five Affiliate Ranks Within SueX Exchange’s Compensation Plan
They, along with their respective qualification criteria are given below:
- VIP 1-Generate 50000 USDT in downline investment
- VIP 2-Generate 150000 USDT in downline investment
- VIP 3-Recruit three VIP 2 or higher ranked affiliates
- VIP 4-recruit three VIP 3 or higher ranked affiliates
- VIP 5-recruit three VIP 4 or higher ranked affiliates
A Unilevel Compensation Structure is the mode by which SureX Exchange pays residual commissions.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them.
If any level 1 affiliate recruits new affiliates, they are placed on level 2 of the original affiliate’s universal team.
Again, if any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so there is a list of infinite number of levels.
The Residual commissions are paid out as a percentage of passive returns paid to affiliates across the ten levels, given as follows:
Level 1- PERSONALLY RECRUITED AFFILIATES-Personally invest $100 to $900 and receive 10%, invest $1000 to $9900 and receive 20% or invest $10000 or more and receive 50%
Level 2 to 10%-2%
SureX Exchange rewards its ranked affiliates with a bonus on their residual commission rate
- VIP1s receive a 2% bonus rate
- VIP2s receive a 4% bonus rate
- VIP3s receive a 6% bonus rate
- VIP4s receive an 8% bonus rate
- VIP5s receive a 10% bonus rate
These bonus rates not only apply to returns paid to personally recruited affiliates, though it is not clarified.
How to Join SureX Exchange
SureX Exchange affiliate membership is free.
When US and Canada are restricted by an MLM Company it practically shows they are doing something illegal.
The reason some companies exclude US and Canada is that they are the most active when it comes to securities regulation.
The business model of SureX Exchange isn’t illegal in US or Canada since the company registers with Financial regulators and filed audited financial reports.
These reports help in clarifying that the company is working according to the standards of an MLM Company, and if the reports are not found then it surely means that the company is doing something illegal.
Security fraud is illegal not only in US and Canada but worldwide.
As much as SureX Exchange is concerned if it wasn’t obvious there is no external revenue, all that’s happening on the backend is that newly invested funds are being recycled to pay earlier investor withdrawals.
At the place of operating legally, the company SureX Exchange provides meaningless shell company and FINCEN Certificates.
The SureX President’s Club
SUREX EXCHANGE’s president’s club consists of the top 10 recruiters globally and the top three recruiters in each country.
SureX Exchange keeps 5 % of the company-wide invested cryptocurrency.
The company uses this money to fund the president’s club, which is responsible for paying out a quarterly dividend
It is amusing to watch that the SEC sued Zhao, founder of SureX Exchange, and his crypto exchange Binance earlier this month on a raft of civil fraud charges.
The indictment for Jacky Zhou is still pending.
What is a Cryptocurrency?
Cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
De-centralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation
How Does a Cryptocurrency work?
Cryptocurrency is digital money that is secured by blockchain technology. Cryptocurrency investing can take many forms, ranging from buying cryptocurrency directly to investing in crypto funds and companies. You can buy cryptocurrency using a crypto exchange or through certain broker-dealers
Common Crypto Scams
CRYPTO PHISHING SCAMS: A Crypto phishing scam is a scheme that scammers use to obtain sensitive information, such as your wallet’s private key. The scammers do this by pretending to be a trustworthy and reliable organization or individual asking you for personal details. They then utilize the information you provide to steal your digital assets.
Cryptocurrency scams have exploded since the pandemic. There has been a 900% rise in total money lost to crypto scams since 2020, according to the federal trade commission’s latest figures. These are the number of cases/incidents reported to the authorities.
How to Avoid Crypto Scams
- Protect private keys from everyone
- Ignore unsolicited contact from users you don’t know
- Don’t click unusual links
- Separate your crypto and bank accounts
- Research all businesses before agreeing to invest or partner with them
- Identify https in the URL of a crypto exchange or wallet address
- Look for grammatical errors and misspelled words in communications, white papers, and marketing materials
- Invest slowly instead of all at once
- Don’t jailbreak smart devices
- Do not accept offers of free items or funds
- Be suspicious of excessive marketing
Your suggestions are really important to us, kindly give your suggestions in the comment section below: