OpenAlexa Review –  Ponzi Scheme  –  MLM Scam

Website & Company Information

The web domain of the company was privately registered on the 30th of March 2020 and was later updated on 2020–05–29. The website does not provide any information about the creator or the team behind the platform. 

At the time of writing this article, Alexa cites India (74%) as the top source of the traffic to Open Alexa’s website. It is highly likely that the admin is operating from India. 

As always, if the website is not transparent about its operations and the team of the company then you must think twice before investing in these programs 

OpenAlexa’s Products

The company doesn’t have any retail line to speak of, but only its affiliate membership aimed at making money and increase its user base.

If an MLM opportunity is operating or serving clients from the U.S and Canada then it must have a retail option. Otherwise, the business will be deemed illegal.

OpenAlexa’s Compensation Plan

It is an ethereum gifting scheme where affiliates participate in the opportunity by making an initial investment of 0.03 ETH (minimum). This 0.03ETH is gifted by new affiliates to an existing affiliate. This payment qualifies the affiliate to in turn to receive gifting payments from other OpenAlexa affiliates.

The program tracks payments across two 2×6 matrices. Payments across OpenAlexa’s 2×6 matrix gift a minimum of ing scheme are as follows:

First Matrix

  • level 1 — gift a minimum of 0.03 ETH and get 0.03 ETH from two affiliates
  • level 2 — gift a minimum of 0.05 ETH and get 0.05 ETH from four affiliates
  • level 3 — gift a minimum of 0.1 ETH and get 0.1 ETH from eight affiliates
  • level 4 — gift a minimum of 0.5 ETH and get 0.5 ETH from sixteen affiliates
  • level 5 — gift a minimum of 1 ETH and get 1 ETH from thirty-two affiliates
  • level 6 — gift a minimum of 3 ETH and get 3 ETH from sixty-four affiliates

Second Matrix

  • level 1 — gift a minimum of 7 ETH and get 7 ETH from two affiliates
  • level 2 — gift a minimum of 12 ETH and get 12 ETH from four affiliates
  • level 3 — gift a minimum of 15 ETH and get 15 ETH from eight affiliates
  • level 4 — gift a minimum of 25 ETH and get 25 ETH from sixteen affiliates
  • level 5 — gift a minimum of 30 ETH and get 30 ETH from thirty-two affiliates
  • level 6 — gift a minimum of 39 ETH and get 39 ETH from sixty-four affiliates

Note: Company’s marketing video suggests all the payments are made on a sixty-day recurring subscription.

Joining OpenAlexa

Joining OpenAlexa affiliates membership requires an initial 0.03 ETH gifting payment. And full participation in the attached income opportunity will ultimately cost 132.68 ETH.

Conclusion

OpenAlexa’s model is a comprehensive matrix-based gifting scheme, in which the underlying technology is powered by ethereum smart contracts. Like any gifting scheme, backend calculation and algorithms are same. Affiliates recruit new people and expect them to scam others and pump new users into the system.

Matrix-based gifting schemes are indeed based on math. This same math that ironically affirms the majority of members in a gifting scheme will lose money. It doesn’t matter who is running these auto-gifting scheme, they are illegal to run. Only the top recruiters and early entrants make money.