Weltsys Review  –  Ponzi Scheme –  MLM Scam

Website & Company Information

The web domain of the company was registered on the 1st of May 2019 and was later updated on 2019–11–19. The website does not provide any information about who owns or runs the company.

They claim to be based out of Hong Kong without providing any incorporation details. Even though they are ‘really’ incorporated in Hong Kong, it would be most likely a SHELL company — because we have seen multiple shell incorporation in the said jurisdiction. 

Many independent researchers have argued with proof that Weltsys is a reboot of Forcount. For introduction — Forcount was a Ponzi scheme run by Francis Silva. The scheme collapsed just some months before the launch of Weltsys. According to Alexa’s traffic analysis, Forcount’s website shows a decline beginning around the start of October 2019. And ironically, Weltsys’ website picked up in late November. 

Weltsys’ Products

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

Weltsys also markets a range of investment plans as detailed in the compensation section of this review.

Weltsys’ Mindexcoin Compensation Plan

Weltsys have created an investment vehicle, named as Mindexcoin (MIC), where affiliates invest their funds in these tokens. Affiliates can also invest in using Bitcoin or Ethereum. 

Mindexcoin Investment

Affiliates invest in Mindexcoin on the promise of an advertised 1.2% daily ROI. They are provided with a wide range of MIC investment packages to choose from, from 50,000 MIC to 10,000,000 MIC. 

Reinvestment is required once they have reached 200% maturity. It is also worth noting that Weltsys charges a 4% fee for reinvestment amounts.

Weltsys pays referral commissions on MIC investment down three levels of recruitment (unilevel):

  • level 1 (direct recruit) — 5%
  • level 2–3%
  • level 3–2%

Weltsys also pays residual commissions via a binary compensation structure. 

Affiliates are paid a percentage of funds invested on their weaker binary team side, based on how many MICs they themselves have invested in.

  • invest in 50,000 to 999,999 MIC and get a 5% residual commission rate
  • invest in 1,000,000 to 4,900,000 MIC and get a 7.5% residual commission rate
  • invest in 5,000,000 to 9,999,999 MIC and get a 10% residual commission rate
  • invest in 10,000,000 to 49,999,999 MIC and get a 15% residual commission rate
  • invest in 50,000,000 MIC or more and get a 20% residual commission rate

Bitcoin Investment

Minimum investing threshold using Bitcoin is $100. Weltsys promises a daily ROI of 1% on all Bitcoin investments. These ROIs are capped at 200% and re-investment is necessary once you hit the 200% limit. 

The company pays referral commissions on bitcoin investment down three levels of recruitment (unilevel):

  • level 1–5%
  • level 2–3%
  • level 3–2%

Residual commissions are also paid using a unilevel compensation structure, capped at thirty levels:

  • level 1–3%
  • level 2–2%
  • level 3–1%
  • levels 4 and 5 (minimum rank Sapphire or higher) — 0.5%
  • levels 6 and 7 (minimum rank Ruby or higher) — 0.5%
  • levels 8 to 10 (minimum rank Diamond or higher) — 0.5%
  • levels 11 to 15 (minimum rank Blue Diamond or higher) — 0.5%
  • levels 16 to 30 (minimum rank Stars Diamond) — 0.5%

Ethereum Investment

Minimum Investment — 0.5 ETH

Daily ROI — 1.2%

ROI CAP — 200%.

Upon maturity, reinvestment is required and a 4% fee is charged at the time of reinvestment. 

Weltsys pays referral commissions on ethereum investment down three levels of recruitment (unilevel):

  • level 1–5%
  • level 2–3%
  • level 3–2%

Residual commissions are paid out via a binary compensation structure, as detailed in “Mindexcoin Investment” above.

How much is paid on weaker binary team side volume is determined by how much ethereum a Weltsys affiliate has invested:

  • invest 0.5 to 10 ETH and get a 5% residual commission rate
  • invest 11 to 50 ETH and get a 7.5% residual commission rate
  • invest 51 to 100 ETH and get a 10% residual commission rate
  • invest 101 to 200 ETH and get a 12.5% residual commission rate
  • invest 201 to 500 ETH and get a 15% residual commission rate
  • invest 501 or more ETH and get a 20% residual commission rate

If a Weltsys affiliate directly recruits fifteen investing affiliates, they get a 10% bonus on all ethereum returns and commissions.

Rank Achievement Bonus

Affiliates are rewarded when they achieve certain ranks in the company. Following are the details:

  • become a Sapphire (75 points) and get $200
  • become a Ruby (250 points) and get $700
  • become an Emerald (750 points) and get $2000
  • become a Diamond (2000 points) and get $5000
  • become a Blue Diamond (4000 points) and get $10,000
  • become a Moon Diamond (8000 points) and get $20,000
  • become a World Diamond (15,000 points) and get $40,000
  • become a Star Diamond (35,000 points) and get $100,000

Points are acquired via personal and downline investment:

  • 1 point per 50,000 MIC personally invested in
  • 1 point per $100 invested in bitcoin (personal and downline)
  • 2 points per 1 ETH invested in (personal and downline)

Withdrawal Fees

This is something very important, very few company charge withdrawal fees based on how long an affiliate wants to wait to get paid:

  • get paid the same day = 35% fee
  • get paid within 24 hours = 20% fee
  • get paid within 3 days = 15% fee
  • get paid within 5 days = 7% fee
  • get paid within 10 days = 5% fee
  • get paid within 15 days = 3% fee

Joining Weltsys

Joining Weltsys affiliate membership requires a $25 monthly affiliate fee, payable in MIC.

Conclusion

Through weltsys, Francis Silva is attempting to create value in the Mindexcoin ecosystem. You can say this as a second attempt as Forcount also had the Mindex ecosystem embedded in its offerings.

The MIC token marketed in the company’s presentation holds no real value outside the company’s ecosystem. Silva can generate as much as MIC tokens as he wants 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.

On the revenue side, the company claims of generating money via forex trading, however no evidence of external revenue being actually used to pay investors has ever been provided.

Forcount was a Ponzi scheme with a similar business and it only lasted for a year, we don’t know how long Weltsys would be here.