Exchange Wallet (EXW) Review – Ponzi Scheme  – MLM Scam

Website & Company Information

The web domain of the company was privately registered on the 13th of July 2019. The address provided on the site looks like a virtual address. Heading up EXW is Benjamin Herzog. He also runs VIVA Payments, the alleged mother company of EXW Wallet. CEO Benjamin Herzog has some lousy track records. He has already scammed an MLM mining company.

Envase Mining / Avintex GmbH

x-invest.net/forum/thread-envase-mining-avintex-gmbh

This guy 20–21 years old and is posting pictures with teenies on his Facebook wall. It’s hard to believe that people would hand over their hard-earned money to his guy.

Ponzi Gurus like Aaron Civitarese (Civi) were also seen promoting EXW Wallet.

CEO

Exchange Wallet appears to be run out of Austria.

Exchange Wallet’s Products

The company has no retailable products or services, with affiliates only able to market the affiliate membership itself.

Exchange Wallet’s Compensation Plan

The affiliates of the company are required to invest in EXW tokens on the promise of an advertised 0.1% to 0.32% daily ROI.

All the Daily ROIs are honoured in EXW tokens.

Exchange Wallet Affiliate Ranks

There are currently a total of 10 affiliates ranks, each with its own respective criteria:

  • Basic — recruit 1 affiliate
  • Starter — recruit 2 affiliates
  • Builder — recruit 3 affiliates
  • Pro Builder — recruit 6 affiliates
  • Expert Builder — recruit 8 affiliates
  • Ambassador — recruit 10 affiliates
  • Grand Ambassador — recruit 12 affiliates
  • Diamond — recruit 14 affiliates
  • Diamond Ambassador — recruit 16 affiliates
  • World Elite — recruit 18 affiliates

Referral Commissions

The company also pays referral commissions via a unilevel compensation structure, capped at ten levels of recruitment:

  • level 1–50%
  • levels 2 and 3–20%
  • level 4–10%
  • levels 5 to 7–5%
    levels 8 and 9–2%
  • level 10–1%

Earning of referral commissions is determined based on ranks:

  • Basic ranked affiliates earn on level 1
  • Starter ranked affiliates earn on levels 1 and 2
  • Builder ranked affiliates earn on levels 1 to 3
  • Pro Builder ranked affiliates earn on levels 1 to 4
  • Expert Builder ranked affiliates earn on levels 1 to 5
  • Ambassador ranked affiliates earn on levels 1 to 6
  • Grand Ambassador ranked affiliates earn on levels 1 to 7
  • Diamond ranked affiliates earn on levels 1 to 8
  • Diamond Ambassador ranked affiliates earn on levels 1 to 9
  • World Elite ranked affiliates earn on levels 1 to 10

Joining Exchange Wallet

Joining Exchange Wallet affiliate membership is not free. It is tied to an investment in EXW tokens. However, the company hasn’t yet specified the minimum amount of investment.

Conclusion

This is yet another crypto wallet MLM Ponzi scheme that uses the blockchain-based tokenized business model to lure and scam investors.

EXW Token

The EXW token marketed in the company’s presentation holds no real value outside the company’s ecosystem. Exchange Wallet can generate as much as EXW tokens they want without incurring any cost (apart from erc20 token dev cost). The company can literally print tokens worth million dollars out of thin air, and in our words, these tokens are just “shitcoins”. Most of these MLMs that have their own tokens first focus on creating hype or a bubble that generates demand, and then they dump their bags on thousands of innocent investors.

No evidence of External

The company claims they generate external revenue via cryptocurrency arbitrage. There is no indication of this taking place or any reserve inferred from arbitrage or any other external source of revenue being used to pay affiliates.

This means they are honour existing withdrawals requests using new funds.

Securities Offering

EXW is also offering a passive investment opportunity. An MLM offering a passive investment opportunity makes it securities offering, and you cannot provide securities unless you are registered with the jurisdiction’s financial regulators. Having failed to disclose its passive investment opportunity with financial regulators, the company is committing securities fraud.

Update – July 26 2020

Exchange Wallet have been declared illegal in Italy. CONSOB, Italy’s top financial regulator, has ordered EXW’s websites to be blocked with immediate effect.

CONSOB identifies Exchange Wallet (dba VivaExchange Ou) as “abusive financial intermediaries”

READ FULL PRESS RELEASE HERE : http://www.consob.it/documents/46180/46181/press_20200724.pdf/35e92214-a2d2-4a2b-b2a6-c41deb50c443