Million Money Review –  Ponzi Scheme  – MLM Scam

Website & Company Information

The web domain of the company was registered on the 13th of August 2029 and was later updated on 2020–02–10. The website does not provide any information about who owns or runs the company.

The website claims that this scheme has no manager and the creators of the smart contract have no conflict of interest with the scheme. These statements are absolutely absurd as no one will go an extra mile to create a smart contract-based MLM scheme. Someone has vested interests in the scheme as they have created the website by purchasing the domain and hosting…to say the least.

As always, if the company is not being transparent about its corporate structure, then you must think twice before handing over your hard-earned Money to anonymous people on the internet.

Million Money’s Products

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

Million Money’s Compensation Plan

Million Money is a 2×5 matrix gifting scheme. The affiliates of the scheme buy gifting positions worth 0.03 ETH.

A 2×5 matrix places an affiliate at the top of a matrix, with two positions directly under them:

As positions fill within an affiliate’s matrix, the following commissions are paid out:

  • level 1 (positions cost 0.03 ETH) — 0.03 ETH per position filled (2 positions to fill)
  • level 2 (0.05 ETH fee charged) — 0.2 ETH per position filled (4 positions to fill)
  • level 3 (0.1 ETH fee charged) — 0.8 ETH per position filled (8 positions to fill)
  • level 4 (0.4 ETH fee charged) — 0.4 ETH per position filled (16 positions to fill)
  • level 5 (1 ETH fee charged) — 1 ETH per position filled (32 positions to fill)

After level 5 of the first matrix, the second begins (it’s the same size as the first and fills in the same manner).

  • level 1 (2.5 ETH fee charged) — 2.5 ETH per position filled (2 positions to fill)
  • level 2 (5 ETH fee charged) — 5 ETH per position filled (4 positions to fill)
  • level 3 (10 ETH fee charged) — 10 ETH per position filled (8 positions to fill)
  • level 4 (20 ETH fee charged) — 20 ETH per position filled (16 positions to fill)
  • level 5 (40 ETH fee charged) — 40 ETH per position filled (32 positions to fill)

Joining Million Money

Joining Million Money affiliate membership is tied to an initial investment of 0.03ETH into a gifting position. This is a recurring payment and full participation (100 days) would cost you 78.99 ETH.

Conclusion

The company uses a smart contract to execute its scam business model. According to financial regulators, both gifting schemes and pyramid schemes are illegal and constitute fraudulent activity. And using an Ethereum blockchain-based smart contract to run a scam doesn’t make it a legal business.

Gifting schemes and Pyramid schemes are illegal because of one simple reason — they inevitably result in the majority of participants losing Money when recruitment dries up. Add to that; it is almost impossible for the majority of participants pyramid and gifting schemes to recover their initial investment.

And you know when the fresh Money stops coming in, the system collapse and all the Money of existing and new investors are lost.

Only the Owner make Money

The only people who benefit from such schemes are the admins and owners of such projects. They sit on the top of the line with their lions share because they are the first ones who invest in their program before marketing it. This way, they see their Money getting multiplied by a thousand folds. They are also first to cycle into the upper tiers of the gifting cycler, through which the majority of funds gifted in changes hands.