Metaverse Overseas Alternate, abbreviated as MFTE, fails to supply possession or govt data on its web site.
MTFE’s web site area (“mtfe.ca”), was first registered in December 2021. The non-public registration was final up to date on November fifteenth, 2022.
Regardless of solely current for a yr and a half or so at greatest, a false declare I stored seeing parroted in MTFE advertising was that the corporate has been round since 2015.
In an try to look professional, MTFE gives a Canadian company deal with on its web site and FINTRAC registration quantity.
The company deal with is a digital workplace deal with supplied by Davinci Digital. The FINTRAC registration is meaningless as FINTRAC shouldn’t be a monetary regulator.
It seems MTFE has been fronted by an AI bot avatar:
And a Boris CEO actor:
As to who’s really working MTFE, we’ve got CEO Masud Al Islam.
Islam is a Bangladesh nationwide, apparently hiding out in Dubai. This confirms MTFE has no ties to Canada and is in actual fact a Dubai-based firm.
In accordance with his private LinkedIn profile, Islam has been CEO of one thing referred to as MyShop Categorical since 2020.
MyShop Categorical it isn’t a reputation solely, it’s a image of stirring, expertise & contentment. On this world expertise comes first for any type of providers.
We’re creating applied sciences instrument. With this instrument we are able to purchase, we are able to promote, we are able to multiply our companies and lots of extra. In our nation for the primary time we’re offering filled with applied sciences items that nobody can suppose earlier than.
We now have a robust workforce who can actually construct up our enterprise, can produce efficient merchandise to the individuals and lots of extra.
So, we are able to say that “JAGBEI BANGLADESH”, which is our slogan additionally”.
I ran a seek for “myshop categorical Bangladesh” and nothing got here up. Unsure if it’s an precise firm or one thing Islam made up.
What I used to be in a position to verify is, previous to getting concerned in MTFE, Islam was a PLC Ultima Ponzi promoter:
PLC Ultima is a reboot of Alex Reinhardt’s PlatinCoin Ponzi scheme.
PLC Ultima started to break down round mid 2022. This coincides with Islam first posting about MTFE on his FaceBook profile on October 2nd, 2022.
I couldn’t assist however discover the Chinese language subtitles in MTFE’s AI avatar advertising video. Given the December 2021 area registration date, I consider the unique iteration of MTFE may need been focused at Chinese language traders.
This means Islam may be working with Chinese language scammers. Additional supporting that is MTFE’s authentic social media profiles having been deleted.
Islam was doubtless introduced on to particularly goal individuals from Bangladesh, Sri Lanka and India – together with his PLC Ultima downline.
As of Could 2023, SimilarWeb tracks high sources of site visitors to MTFE’s web site as Bangladesh (33%), Sri Lanka (27%), India (12%) and the UAE (7%).
It’s secure to imagine MTFE’s UAE site visitors is scammers from Bangladesh, Sri Lanka and India additionally hiding out in Dubai.
BehindMLM’s tips for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re attempting to rip-off you.
- If an MLM firm is predicated out of or represents it has ties to Dubai, it’s a rip-off.
If you wish to know particularly how this is applicable to MTFE, learn on for a full assessment.
Metaverse Overseas Alternate’s Merchandise
MTFE has no retailable services or products.
Associates are solely in a position to market MTFE affiliate membership itself.
Metaverse Overseas Alternate’s Compensation Plan
MTFE associates make investments tether on the promise of a 3% to eight% each day passive return:
- Plan 1 – make investments 30 USDT and obtain 22 to 44 USDT a month
- Plan 2 – make investments 60 USDT and obtain 40 to 60 USDT a month
- Plan 3 – make investments 100 USDT and obtain 60 to 120 USDT a month
- Plan 4 – make investments 200 USDT and obtain 120 to 180 USDT a month
- Plan 5 – make investments 500 USDT and obtain 300 to 800 USDT a month
- Plan 6 – make investments 1000 USDT and obtain 600 to 1800 USDT a month
- Plan 7 – make investments 3000 USDT and obtain 1800 to 4800 USDT a month
- Plan 8 – make investments 5000 USDT and obtain 3000 to 8000 USDT a month
- Plan 9 – make investments 7500 USDT and obtain 4500 to 12,000 USDT a month
MTFE pays a residual fee on returns paid to recruited associates down three ranges of recruitment (unilevel):
- stage 1 (personally recruited associates) – 15%
stage 2 – 10% - stage 3 – 5%
If an MTFE affiliate recruits fifteen associates and builds a complete downline of 100 associates, they obtain $600 a month wage.
Word that recruited associates will need to have invested as a way to depend in direction of month-to-month wage qualification standards.
Becoming a member of Metaverse Overseas Alternate
MTFE affiliate membership is free.
Full participation within the hooked up revenue alternative requires an preliminary 26 USDT funding.
Metaverse Overseas Alternate Conclusion
MTFE hides its funding scheme and hooked up MLM compensation plan on its web site.
As an alternative MTFE is offered as a generic fintech agency providing entry to a buying and selling platform:
In actuality, MTFE has nothing to do with the metaverse or foreign currency trading; it’s a easy Ponzi scheme.
Supporting that is MTFE’s misdirection web site, the faux CEOs and being primarily based out of Dubai.
Essentially the most damning proof MTFE is working a Ponzi scheme is the very fact it’s committing securities fraud.
MTFE gives no proof it has registered with monetary regulators in any jurisdiction (once more, FINTRAC shouldn’t be a monetary regulator).
Moreover, MTFE’s personal advertising fails the Ponzi logic check.
As above, in April 2023 MTFE claimed it had processed $200 billion in transactions.
Even when we assume MTFE has 0.5% of that quantity in reserve ($1 billion), at 3% to eight% a day the corporate would nonetheless be making $30 million to $80 million a day.
What on Earth does MTFE want your cash for?
Because it stands the one verifiable income coming into MTFE is new funding.
Utilizing new funding to pay a each day 3% to eight% ROI makes MTFE a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve MTFE of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that once they collapse, nearly all of members lose cash.