EtherChain Review –  Ponzi Scheme  –  MLM Scam

Website & Company Information

The web domain of the company was privately registered on the 1st of June 2020. The company provides no information on its website about who owns or runs the company. Also, there are no incorporation details listed on the site.

Further research about the company reveals that it run and managed by the CEO Andreas Kartrud. We found this guy through a YT video where an affiliate was interviewing him.

Andreas Kartrud is real since he has been quite active on Twitter and LinkedIn. Andreas is based out of Sweden, meaning that the company is being run from Sweden.

Many independent reviewers have termed him as a ‘serial scammer’ because he has been involved with numerous scam in the past. Some of the popular bad names include:

  • Shopping Sherlock
  • SwissCoin
  • Dominant Finance
  • WoToken
  • Up2Give
  • KryptoGlobe
  • 1 Click Trading
  • XOXO Network

Based on his credentials and online footprint, it looks like EtherChain is also a Ponzi. However, the review has not finished yet.

EtherChain Products

The company has no retail products or services, but you can promote affiliate membership.

This is a matter of concern because an MLM opportunity must have a retail option, other it just shows that they are Pyramid based models.

EtherChain’s Compensation Plan

Affiliates invest Ethereum (ETH) on the promise of an advertised 310% ROI, paid out 1% daily for 310 days.

Referral Commissions

The company also pays referral commissions, i.e, 10% funds invested by personally recruited affiliates.

Residual Commissions

All residual commissions inside of EtherChain is paid via a unilevel compensation plan structure, capped at 15 levels.

Residual commissions are paid on the invested funds daily returns as a percentage across all these levels:

  • Level 1 (direct recruits) — 30%
  • Levels 2 to 5–10%
  • Levels 6 to 9–8%
  • Level 10–8%
  • Levels 11 to 15–5%

Top Referrer Pool

5% of invested funds are allotted into the Top Referrer Pool. And then distributed to EtherChain’s top recruiters every day.

Joining EtherChain

Joining EtherChain affiliate membership is free but full participation into the attached income opportunity requires a minimum investment of 0.1 ETH.

Conclusion

Andreas Kartrud is a pro when it comes to MLM Scam. He is a seasoned serial scammer who knows how to conduct a successful MLM Scam and make huge money out of each scam program. He has been doing this for years as he hasn’t been caught by anybody yet.

He wants the full pie that’s why he started EtherChain, instead of promoting MLMs as he did in the past.

He is promising daily 1% ROI if he is really capable of making 1% per day then why does he need your money?

As you know, EtherChain is also a Ponzi Scheme which will collapse one day — taking the majority of the participants’ money with Andreas.