Website & Company Information
The web domain of the company was privately registered on the 31st of January 2013 and was later updated on 2020–01–31. According to independent researches, Vitae is headed by serial scammer Michael Weber.
Michael Weber operates out of Colorado in the US. He was working closely with BitConnect Ponzi Scheme that collapsed in early 2018.
A timeline of his involvement in various MLMs:
- X100K pyramid scheme — 2015
- PIF2Cash, a Ponzi cycler — 2016
- Coin Nuggets, a matrix-based Ponzi cycler — 2017
- BitConnect — 2018
- Vitae Token — June 2018.
Vitae Rain Chat is part of Vitae Token, an in-house messaging platform. In June 2020 Vietnam issued a fraud warning against Vitae.
At the time of writing this article, Alexa cites India (31.5%) and Vietnam (9.1%) as top sources of traffic to Vitae’s website.
Vitae Rain Chat’s Products
The company has no retailable products or services, with affiliates only able to market Vitae Rain Chat affiliate membership itself. The affiliates can only purchase adcredits worth $25, which can be used to display advertising to other Vitae Rain Chat affiliates.
Vitae Rain Chat’s Compensation Plan
The affiliates of the company sign up and participate in a Ponzi scheme. How does this work?
Basically, their chatroom systematically “rains” (distributes) generated Vitae tokens with the last two hundred affiliates participated in the chat room. That is affiliates who’ve sent a message. These distribution events are triggered every six minutes.
Vitae tokens distributed with each rain event include the following:
- $5 worth of Vitae from every new paid affiliate membership
- a percentage of “thousands of Vitae tokens stored for distribution.”
The affiliates can also earn Vitae tokens through
- Watching ads
- And if another affiliate directly deposits into the “rain address” (for rain event distribution).
The affiliates earn commissions on the recruitment of new paid affiliates.
The company pays a $5 recruitment commission for each affiliate recruited, that is then split down three levels of recruitment (unilevel):
- 50% on level 1 (direct recruit)
- 25% on levels 2 and 3
Joining Vitae affiliate membership costs $14.99. Affiliates can also buy $25 ad-credit.
These funds are then equally distributed to paid Vitae Rain Chat affiliates.
Vitae was originally launched as a social network platform where members are given a certain amount of tokens for joining the platform.
These tokens are now listed to a few exchanges and now trading above $2.5.
The tokens marketed in the company’s presentation holds no real value outside the company’s ecosystem. Vitae can generate as much as 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’’. Most of these MLMs that have their own tokens first focus on creating hype or a bubble that generates demand, and then they dump their bags on thousands of innocent investors.
Vitae Rain Chat free membership is merely a marketing gimmick to sell the business model where participants pay $14.99 a month and get qualified for receiving commissions on new recruits, as well as a percentage of adcredit purchases by other affiliates.