Goldmine369 Review – Ponzi Scheme – MLM Scam

Website & Company Information

The company is incorporated in Manchester, UK and headed by Jay Locke. 

This character is totally new in the MLM industry and has no footprint on the internet. 

In this ‘Terms and Conditions’ webpage, the company provides a Companies House incorporation number. ‘GOLDMINE369.COM LIMITED’ was incorporated in August 2019, in the UK. And its a pretty known fact that the UK is a hotspot for fraudsters. The UK incorporation charges are cheap and unregulated, giving the scammers an edge to flourish their fraud business without any hassle. 

The domain was registered on April 04th, 2019 and the details of the domain owner are kept private.

Goldmine369’s Products

One of the biggest sign of an MLM Ponzi is that the company doesn’t have any products or services to offer. Instead, it makes money and distributes returns to its users with the help of new investment/new users. 

Compensation Plan

Any investment made in any Goldmine369’s plan is eligible to get returns, distributed over 12 months. The minimum investment is £250 GBP. 

Source: behindmlm

So for example, if a person invests £1,000 GBP, he/she will enjoy a quarterly profit of £718GBP. That’s a staggering 70%+ ROI.

Note: The affiliates are required to pay monthly mining license fees. 

Referral Commissions

The company pays referral commissions via a uni-level commission structure. 

Goldmine369 caps payable uni-level team levels at ten. 

These commissions are paid out as a percentage of funds invested by new recruits. 

  • level 1 (must recruit one affiliate) — 8%
  • level 2 (must recruit two affiliates) — 2%
  • level 3 (must recruit three affiliates) — 1%
  • level 4 (must recruit four affiliates) — 1%
  • level 5 (must recruit five affiliates) — 0.5%
  • level 6 (must recruit six affiliates) — 0.5%
  • level 7 (must recruit seven affiliates) — 0.5%
  • level 8 (must recruit eight affiliates) — 0.5%
  • level 9 (must recruit nine affiliates) — 0.5%
  • level 10 (must recruit ten affiliates) — 0.5%

A minimum investment of £250 into TeraHash Power Block position is mandatory in order to be eligible for these outrageous ROIs. 


The company also has two different types of commission structure, namely, ROI Commissions and Mining License Fee Commsisions. All these numbers range from 0.5% to 10%.


The company promises returns on a minimum investment of £250. 

This makes it a security, and is regulated by the FCA in the UK. Now they have tried to dodge the bullet by putting a statement on their site. 

Because offers a credit-free environment, and because it deals in the absolute ownership of hash power blocks acquired on the crypto market, and not paper-based contractual rights extending beyond the normal settlement period of the crypto market, it falls outside the defined scope of formal financial services regulation and by the United Kingdom’s Financial Services Authority.

Ironically, they cannot even name the regulator right. ‘Financial Services Authority’? lol

The company has also claimed of providing its services in several other countries, including the US. And you know, they aren’t registered to offer securities in any of these jurisdictions. 

Hence, they are doing illegal work!

Goldmine369 looks like a Ponzi like the Bitclub Network and you what happens when the new investment stops coming in. 

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