Website & Company Information
The web domain of the company was registered on the 23rd of September 2018. The company operates in the cryptocurrency mining MLM niche and claims to be based out of Hong Kong.
According to the website, the company was founded by Thomas Norberg in November 2019, but the domain information says it was created in 2018, STRANGE!
Having said that, the company doesn’t show any faces on the site. This makes us assume that Thomas is a fictional character; also, he doesn’t appear to exist outside of Miny’s marketing material.
At the time of writing this article, Alexa cites Venezuela (14.1%), Russia (11.3%) and Brazil(8.5%) as top sources of traffic to Miny’s website.
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.
The company does not offer any products or services. It only sells its affiliates membership plans that are aimed at bringing more users into the system.
The matter of concern here is the lack of retail option. An MLM must provide a retail option if it is catering to clients from the U.S and Canada.
Miny’s Compensation Plan
The company’s affiliates invest USD and cryptocurrency on the promise of monthly returns training from 10% to 19% respectively:
- invest anywhere between $50 to $750 and get a monthly ROI of 10%
- invest anywhere between $750 to $15,000 and get a monthly ROI of 15%
- invest $15,000 or more and get a monthly ROI of 19% monthly ROI
- invest anywhere between 0.005 to 0.08 BTC and get a monthly ROI of 10%
- invest anywhere between 0.08 to 1.65 BTC and get a monthly ROI of 15%
- invest 1.65 BTC or more and get a monthly ROI of 19%
- invest between 0.25 to 4 ETH and get a monthly ROI of 10%
- invest between 4 to 80 ETH and get a monthly ROI of 15%
- invest 80 ETH or more and get a monthly ROI of 19%
- invest between 0.75 to 11 LTC and get a monthly ROI of 10%
- invest between 11 to 225 LTC and get a monthly ROI of 15%
- invest 225 LTC or more and get a monthly ROI of 19%
Note: All the returns are paid through MINY tokens and affiliates can withdraw them through the company’s internal exchange.
Affiliates receive affiliate commissions in MINY tokens via a unilevel compensation structure, capped at twenty uni-level teams. Below is the breakdown of compensation percentage per level:
- level 1–100% (direct affiliates)
- level 2–10%
- level 3–5%
- levels 4 to 20–1%
Joining MINY’s affiliate membership is free, but full participation in the attached income opportunity requires a minimum investment of $50, or 0.005 BTC, or 0.25 ETH or 0.75 LTC.
The MINY token marketed in the company’s presentation holds no real value outside the company’s ecosystem. Miny has the ability to generate as much as MINY 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’.
In a nutshell, the company’s affiliates sign up and hand over ethereum for worthless MINY tokens.
Since all the withdrawals go through the company’s internal exchange, it is totally up to them to selectively honour withdrawals. They will keep on doing this until they feel like it or until the deposit side is greater than the withdrawals side.
Chances of Public-Exchange exit scam
Most of these MLMs that have their own tokens, first focus on creating hype or a bubble that generates demand.
When the demand for their tokens are at an all-time high, they list their token into a public exchange and pump the price. When they feel enough people are standing in the line to buy their dump, they dump all their tokens to the general public and do a runner.
No Evidence of External Revenue
The company claims of generating external revenue through Bitcoin mining, but we couldn’t find any evidence of real bitcoin mining that could back this claim.
The company is illegally offering securities too.
New investment is stored by Miny and used to honour internal exchange withdrawal requests.