KickEX Review — Ponzi Scheme — MLM Scam
Website & Company Information
The web domain of the company was privately registered on 2019–05–24. There is no information about the owner of the company on the website.
However, they conducted an ICO through a different website and from there, we found that the KICK Ecosystem is run by the Founder & CEO, Anti A. Danilevski.
As per their official Facebook page, the company is incorporated in Moscow, Russia.
We did a brief research on the Founder, and we found Danilevski was part of the video game industry and he has no prior MLM experience.
They are using some big names as their advisors — influential people like the Founder of Bancor, CEO of Coinhills, CEO of NewsBTC etc. We checked the LinkedIn accounts of all these individuals, and we didn’t see any mentions of ‘KickEx’ in their profiles.
The company has no products or services to offer, with affiliates only able to market Kickex’s affiliate membership itself.
Note: The in-house crypto exchange is only accessible by the affiliates.
KickEX Compensation Plan
The company pays when your referral pays exchange trading fees. These commissions are paid as a percentage of the trading fees that are accumulated across these 10 levels (unilevel):
- Level 1 (direct recruits) — 15%
- Level 2–10%
- Level 3–8%
- Level 4–6%
- Level 5–4%
- Level 6–3%
- Level 7–2%
- Level 8–1%
- Levels 9 and 10–0.5%
KickEx’s affiliate membership is free
The company had launched its native token, KICK — at an initial price of 24.9 cents. Now the KickToken is trading at $0.000006, which means that the token is down 99.99999%. Investors are accusing the company of pulling an exit scam.
The company also has a compliance issue because it does not have a retail option. A retail option is something that can be purchased without joining any affiliate program. All the MLM companies must provide a retail option if they are serving clients in the U.S and Canada.
Apart from the token issues and concerns related to retail, the MLM side looks fine.
Still, we do no recommend KickEx due to the concerns listed above