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BlockX- Scam Review

0

The securities fraud that started with My Blockchain Life continues with My BlockX.

After we final checked in on My Blockchain Life, it talked about the debut of a possibility involving the BlockX Buying and selling AI bot.

Offended US BLKX bagholders appeared within the feedback part of that article after it was printed, however My BlockX as a enterprise alternative had died.

That modified just a few months in the past when a member of My BlockX made contact with Colombian authorities.

Glenn Williams served because the founding president of My Blockchain Life.

Williams posted anti-vaxxer memes on Fb for almost all of 2020 and 2021. COVID-19 induced his dying in October 2021.

My BlockX remains to be positively being run by somebody, and Jeremy Sowerby’s identify retains developing.

I used to be unable to independently affirm that Sowerby is the rightful proprietor of My BlockX.

If Sowerby (on the precise) is accountable for My BlockX, he maintains a excessive profile. Given his prolonged historical past of MLM cryptocurrency scams, it is smart.

Sowerby is properly often called the proprietor and CEO of Dunamis Mining.

Early in 2019, Dunamis Mining, an MLM Ponzi with a cryptocurrency “mining” motif, was launched.

Just a few months after beginning up, Sowerby appointed BitClub Community con artist Joe Abel as CEO and altered the corporate’s identify to Dunamis World Tech.

By the tip of 2019, Dunamis World Tech had ceased to exist. Sowerby’s Onyx Life-style Ponzi acquired the affiliate investor base that Sowerby offered to it.

Just a few months later, in the course of 2020, My Blockchain Life debuted. I believe Sowerby is remaining quiet due to his shut relationship to Joe Abel.

In a nutshell, My BlockX’s merchandise are a staking funding scheme and an auto buying and selling bot, two levels of securities fraud.

With a view to take part within the staking funding program, My BlockX associates should stake a minimum of $2500 in BLKX tokens.

My BlockX generated the nugatory ERC-20 token BLKX. ERC-20 tokens may be produced shortly and for little to no cash.

BLKX tokens are parked with My BlockX after being bought with the assure of as much as 42% yearly ROI:

Returns are paid in BLKX, which My BlockX will convert to “one other crypto” upon request.

To pay for these withdrawal requests, My BlockX solely recycles already invested cryptocurrency on the backend. Consequently, the Ponzi scheme

The “Limitless Buying and selling Engine” is the identify given by My BlockX to its automated buying and selling bot system.

My BlockX affiliate should first deposit a minimum of $2500 into the staking funding scheme to be able to entry the Limitless Buying and selling Engine.

My BlockX advertises an extra 580% yearly ROI by way of the Limitless Buying and selling Engine:

Each MLM crypto Ponzi makes use of the Limitless Buying and selling Engine as their normal buying and selling bot gimmick.

Our AI employs patented automated software program to search out alternatives to purchase and promote out there that might take people an eternity to behave upon.

You will not want to fret about something for the reason that Limitless engine makes the suitable strikes on the applicable instances, with the suitable portions, and with the suitable property.

My BlockX offers the next nonsense instead of registering with monetary regulators and offering the legally required audited monetary reviews:

Along with the $2500 that’s tied up in BLKX staking, My BlockX can value as much as $9997 per yr for entry to the Limitless Buying and selling Engine:

Starter Plan: $2497 per yr with a $10,000 most per buying and selling account.
$497 per yr with a $50,000 buying and selling account cap and “rising revenue” 
No buying and selling account cap, limitless plan for $9997 a yr, and “maximized profitability” 

You’re most likely conversant in the routine: “However they can not contact our cash!” -> bot blows up or “technical issues” -> sorry in your loss.

My BlockX doesn’t provide any particulars about their MLM alternative. They may nonetheless be using the outdated My Blockchain Life payout construction, modified to account for BLKX funding and buying and selling bot prices.

In any case, My BlockX is, on the very least, participating in securities fraud. The MLM trade and securities fraud are perfect for a Ponzi scheme.

The truth that My BlockX has no verifiable exterior income stream that’s used to fund withdrawals is extra proof of this.

In that regard, My BlockX remained basically dormant till just a few months in the past after defrauding primarily US buyers.

In response to SimilarWeb, 95% of the visitors to My BlockX’s web site is at present coming from Colombia, and that quantity is rising.

Financially talking, that is the US BLKX bagholders’ of My BlockX dumping to new, credulous Colombian buyers.

These BLKX transfers happen by means of My BlockX, an inside alternate linked to 2 shady funding scams.

All through 2022, Colombia has been a hub for MLM-related securities fraud. Native authorities appear to have given up attempting to regulate Ponzi scams, most of that are run from different nations.

Within the occasion of My BlockX, Glen Williams and Jeremie Sowerby had been each residents of Canada.

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