Tectum works in the MLM niche of cryptocurrency.
The business says that it is a part of CrispMind LTD. CrispMind is said to have offices in both the US and Europe.
The Illinois corporate suite address that Tectum gave is shared by a number of other companies, which suggests that it is virtual. The European office of Tectum is thought to be in Ireland.
On Tectum’s website, there is a section called “Our Team,” which lists fourteen people.
Executive roles can’t be seen unless you click through on each team member’s name, which seems like a bad UI design.
I wasted time clicking on every Tectum team member’s profile, only to find out that the company’s owners and managers aren’t revealed.
David Track was the only member of Tectum’s team whose name I knew.
BehindMLM said in 2011 that David Track (right) was the founder of PrepayCPA and its President.
PrepayCPA is long gone. I went to Track’s LinkedIn profile to see what he had been up to since then.
Track was Senior Vice President of Growth and Strategy for Tryp. He also ran Track Companies, which “specializes in high-risk merchant credit card services.”
In January 2019, BehindMLM looked at Tryp and found that it had a pyramid business model and an illegal stock offering.
In January 2020, Tryp’s MLM business failed.
Track seems to have changed his life in 2020 by becoming a crypto bro. Track is listed on LinkedIn as a “Member of the Board of Advisors” for Bitlocity.
Bitlocity was an MLM crypto gifting pyramid scheme. Early in 2021, the scam fell apart.
Track joined the NFT scam as a co-founder of NFT Tycoons in late 2021.
That didn’t work out, so Track joined Tectum in April 2022 as the Director of Mass Adoption.
I went to CrispMind’s website next because I still wanted to know who ran Tectum.
I found out there that Alex Guseff (on the right) is the CEO of CrispMind. This likely means that Guseff is also in charge of Tectum.
Their website lists Guseff as the last member of the Tectum team. No one knows why they don’t know how he runs the business.
Guseff seems to be an unknown Russian crypto bro. A June 2020 PR puff piece on Medium puts Crispmind in Kazan, Russia, instead of the US or Ireland.
Alexander Guseff works as a software development executive for Crispmind in Kazan, Russia, which is a software development startup.
It is also not clear why Crispmind and Tectum say they are from the US and Ireland.
SimilarWeb says that the UK (37%), Russia (31%), Switzerland (20%), and Canada (7%) are the top countries that send people to Tectum’s website.
If an MLM company isn’t clear about who owns or runs it, you should always think twice before joining or giving them any money.
The Products of Tectum
Tectum has no goods or services that can be sold.
Affiliates can only sell affiliate membership to Tectum.
The Pay Plan for Tectum
Affiliates of Tectum buy Tectum tokens (TET).
The TET is then used to buy SoftNote licenses, for which Tectum advertises an annual return of “up to” 300%.
Licenses for SoftNote come in packages that cost between $1 and $500,000.
At the end of the review, we’ll talk about what SoftNote is.
The MLM part of Tectum pays people who bring in other investors as affiliates.
Commissions for referrals
Affiliates of Tectum get a 10% commission on the investment in a SoftNote license made by affiliates they personally recruited.
Commissions that don’t end
Tectum pays a 5% residual commission on SoftNote license investments down three levels of recruitment (unilevel).
If a Tectum affiliate meets the requirements to be a Team Leader, they earn commissions down six levels of recruiting:
level 1 (personally recruited affiliates) – 10% level 2 – 5% level 3 – 4% level 4 – 3% level 5 – 2% level 6 – 1%
To become a Team Leader, a Tectum affiliate must get other people to invest $100,000 in TET.
Bonus for a Regional Leader
Tectum gives Tectum Regional Leaders 5% of the money spent on SoftNote licenses by the company as a whole.
Tectum does not provide Regional Leader qualification criteria.
Getting in Tectum
It looks like Tectum affiliate membership is free.
To fully take part in Tectum, you have to buy TET tokens.
At the moment, each TET is sold to Tectum affiliates for $2.50.
Tectum Bottom Line
“The world’s fastest blockchain” is Tectum’s claim to fame as a cryptocurrency.
I don’t know if that’s true, but it doesn’t matter.
Building the world’s fastest blockchain by some random company is like building a highway with no speed limits.
Not a soul cares.
CrispMind is now using Tectum as a 300% ROI Ponzi scheme. This is likely because they want to get back the money they put into the failed project.
Investment in SoftNote licenses is the trick behind Tectum’s Ponzi scheme.
Before we talk about that, we need to figure out why CrispMind and Tectum, which seem to have been around for a while, are starting a Ponzi scheme.
When we look at the Medium puff piece article mentioned in the beginning of this review, we find out the following:
A group of mathematicians, programmers, and AI experts in Russia have been perfecting the lightning-fast Tectum Blockchain for logistics for more than seven years, and it’s finally ready for prime time.
Since that piece was written in 2020, it’s likely that con artists in Russia have been working on it since 2013.
Since Tectum’s website domain was registered in 2018, I don’t believe that. The website for CrispMind was set up in 2019.
I also want to point out that the Medium article says that Alexander Guseff is a software executive at Tectum.
About a year and a half ago, I joined the team and started writing a white paper about it.
I’m not sure when Guseff became CEO of Tectum and CrispMind.
In any case, there are two things that could happen:
Tectum is being run by unknown Russian scammers, and Guseff is just a puppet executive. Or, Guseff is lying and has always been behind Tectum and CrispMind.
In either case, there are warning signs.
Even though I can’t say for sure that Tectum isn’t a continuation of other failed blockchain projects (this happens a lot), it didn’t exist before at least 2018.
Before Guseff joined CrispMind and Tectum in 2019, he ran a shop in Russia that fixed cell phones.
Another red flag is not being honest about where CrispMind and Tectum came from.
Now that that’s over with, let’s talk about Tectum’s SoftNote license Ponzi scheme.
The SoftNote wallet is part of Tectum.
SoftNote is the main product of Tectum, and it is marketed as the first transactionless payment system. This means that there are no actual transactions on the native network, and there are no fees for the end user.
SoftNote is more private than a Bitcoin wallet because public addresses can’t be used to track BTC transactions.
While the balance is being passed over, the payment is not recorded in the native network’s ledger.
TL;DR: SoftNote promises that the blockchain will be anonymous. Ideal for setting up a Ponzi scheme.
The nonsense about the license is just that: nonsense. It makes no sense for investors to spend thousands of dollars on licenses for a crypto wallet that anyone can use for free.
The SoftNote license scam, on the other hand, is just a thin Ponzi scheme to get people to give money. Investors in Tectum aren’t meant to think about it.
The worst part is that SoftNote hasn’t even come out yet.
Once the SoftNote System is up and running, the price of a TET will be based on how much money is made when Mint Licenses are sold all over the world.
In the part of this review about pay, I showed a chart about how much Tectum license packages cost.
The chart comes from a document from late 2021.
The pre-sale offer began on September 15, 2021, and runs until April 15, 2022.
Genesis Smart Contract will print the first ten million SoftNote bills on or before October 31, 2021. This will be a one-time event, and the bills will be given to Minting License Holders.
As of September 15, 2021, SoftNote Bills will be priced at 1% of their face value (see below). As demand grows, the price is likely to go up slowly over time. SoftNote’s profitability could allow for a price increase of up to 5%.
Pre-sale Offer ends in April 2022.
This is when the first scammers would have joined, and the general public would be expected to get rich.
The first phase of the Tectum Token (TET) presale cost $1 and sold 2.5 million TET. At phase 2, $2 was paid for each TET token. Now that we’re in phase 3, TET costs $2.5.
Not surprisingly, the con was sold The marketing materials and website for Tectum are full of promises of wealth:
This is a great investment that could give you a return of up to 300% per year.
Securities are sold by MLM companies that offer passive investment opportunities.
Since Tectum says it is based in the US and has at least one US executive (David Track’s LinkedIn page says he lives in Delaware), the SEC has authority over its securities offering.
A search of the SEC’s Edgar database shows that neither CrispMind, Tectum, Alexander Guseff, nor David Track are registered with the SEC.
This means that at the very least, everyone involved is guilty of securities fraud.
When MLM companies commit securities fraud, they are similar to companies that run Ponzi schemes.
The current price of TET is the same as $2.00. It will soon start going up, leveling off at $7.60 when the Soft Cap – the Unlock – is reached. When the SoftNote System goes live, the price of TET will be based on how profitable Mint License is, and it will go to the MOON at that time.
Tectum says it has been checked out by “leading American and Canadian auditors” instead of registering with financial regulators and filing audited financial reports as required by law.
Even if the claim isn’t true, this isn’t a replacement for registering with the government and doing things the right way.
Adding to the financial fraud done by CrispMind and Tectum, the company isn’t even registered to sell securities in any country.
This includes the UK, Russia, Switzerland, and Canada, which are the main places where Tectum is being advertised.
As with all MLM Ponzi schemes, Tectum will stop getting new money once it stops recruiting new affiliates.
This means that Tectum won’t be able to pay out TET token withdrawals, which will eventually cause it to fail.
Because of how Ponzi schemes work, most people who take part will lose money.