SureX Trade fails to supply possession or government data on its web site.
SureX Trade’s web site area (“surexchange.io”), was first registered in August 2022. The personal registration was final up to date on February twenty eighth, 2023.
SureX Trade’s social media profiles have been created in October 2022, so this seems to be when the corporate launched.
If we have a look at SureX Trade’s FaceBook profile, we are able to see it’s being operated from Malaysia:
A Could twenty second put up on SureX Trade’s Instagram profile additionally reveals a staged charity occasion held in Malaysia:
SureX Trade’s use of Chinese language in its advertising suggests it’s being run by people with ties to China from Malaysia.
This data led me to Jacky Zhou, who’s cited as SureX Trade’s CEO:
One other SureX Trade government we are able to title is CMO Willie Tan:
Presumably as a consequence of language-barriers, I used to be unable to place collectively an MLM historical past on both Zhou or Tan.
Each Zhou and Tan are represented as being primarily based out of Malaysia, which inserts with SureX Trade’s advertising.
Zhou is purportedly a Taiwanese nationwide. This likewise suits with SureX Trade’s use of Conventional Chinese language.
Why Zhou and Tan aren’t featured on SureX Trade’s web site is unclear.
As at all times, if an MLM firm isn’t overtly upfront about who’s working or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
SureX Trade’ Merchandise
SureX Trade has no retailable services or products.
Associates are solely capable of market SureX Trade affiliate membership itself.
SureX Trade’s Compensation Plan
SureX Trade gives associates three passive ROI fashions:
Staking
SureX Trade associates make investments tether on the promise of a passive month-to-month ROI:
- make investments for 90 days and obtain 0.4% a month
- make investments for 180 days and obtain 0.5% a month
- make investments for 360 days and obtain 0.6% a month
Comply with Commerce Fund
SureX Trade additionally gives month-to-month funding plans arrange as “Comply with Commerce Fund”:
By its Comply with Commerce Fund, SureX Trade associates make investments 100 to 10,000 USDT on the promise of as much as 21% a month.
Liquidity Swimming pools
SureX Trade gives associates Liquidity Pool funding in two shit tokens.
SureX Trade associates make investments tether into SLT. SLT is an inner shitcoin SureX Trade represents is pegged to tether.
As soon as invested in, SLT is added to an SLT Liquidity Pool. SureX Trade pays a passive return on SLT invested.
SLT Liquidity Pool withdrawals appeal to a ten% withdrawal charge.
SureX Trade associates also can make investments tether in ST token.
ST token began with an inner 10 cent worth. That is elevated by $0.001 per each $100 million in tether dumped into the ST Liquidity Pool.
ST Liquidity Pool withdrawals are paid 90% in tether and 10% necessary reinvestment.
By its Liquidity Swimming pools, SureX Trade pitches an “anticipated” 300% passive annual ROI:
The MLM aspect of SureX Trade pays on returns paid to recruited affiliate buyers.
SureX Trade Affiliate Ranks
There are 5 affiliate ranks inside SureX Trade’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- VIP 1- generate 50,000 USDT in downline funding
- VIP2 – generate 150,000 USDT in downline funding
- VIP3 – recruit three VIP2 or larger ranked associates
- VIP4 – recruit three VIP3 or larger ranked associates
- VIP5 – recruit three VIP4 or larger ranked associates
Residual Commissions
SureX Trade pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned straight below them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
SureX Trade caps payable unilevel staff ranges at ten.
Residual commissions are paid out as a share of passive returns paid to associates throughout these ten ranges as follows:
- degree 1 (personally recruited associates) – personally make investments $100 to $900 and obtain 10%, make investments $1000 to $9900 and obtain 20% or make investments $10,000 or extra and obtain 50%
- ranges 2 to 10 – 2%
Rank Achievement Bonus
SureX Trade rewards ranked associates with a bonus on their residual fee charge:
- VIP1s obtain a 2% bonus charge
- VIP2s obtain a 4% bonus charge
- VIP3s obtain a 6% bonus charge
- VIP4s obtain an 8% bonus charge
- VIP5s obtain a ten% bonus charge
Though not explicitly clarified, I consider these bonus charges solely apply to returns paid to personally recruited associates.
Technology Bonus
SureX Trade pays a Technology Bonus on as much as 5 generations.
SureX Trade defines a era in a unilevel staff leg when a VIP3 or larger ranked affiliate is discovered within the leg.
This affiliate caps off the primary era for that leg, with the second starting instantly after.
If a second VIP3 or larger affiliate exists deeper within the leg, they cap off the second era. The third era for that leg then begins instantly below.
If no second VIP3 or larger affiliate exists deeper within the leg, the second era for that leg runs the whole depth of the leg.
Be aware that generations are calculated independently in every unilevel staff leg.
Utilizing this era construction, VIP3 and better ranked SureX Trade associates qualify for the Technology Bonus as follows:
- VIP3 ranked associates earn 2% on as much as one era per unilevel staff leg
- VIP4 ranked associates earn 2% on the primary era, 1.5% on the second and 1% on the third
- VIP5 ranked associates earn 2% on the primary era, 1.5% on the second, 1% on the third and 0.5% on the fourth and fifth
As with the Rank Achievement Bonus, I consider these bonus charges solely apply to returns paid to personally recruited associates.
President’s Membership
SureX Trade’s President’s Membership is made up of the highest 10 recruiters globally and high three recruiters in every nation.
SureX Trade units apart 5% of company-wide invested cryptocurrency. That is used to fund the President’s Membership, which pays out a “quarterly dividend”.
Journey, luxurious automotive and luxurious good bonuses are additionally referenced however no specifics are supplied.
Becoming a member of SureX Trade
SureX Trade affiliate membership is free.
Full participation within the connected revenue alternative requires funding in tether.
Be aware that whereas funding quantities are quoted in tether, SureX Trade solicits funding in varied cryptocurrencies.
SureX Trade Conclusion
The primary crimson flag SureX Trade presents is thru a go to to its web site:
When an MLM firm restricts the US and Canada, it virtually confirms they’re doing one thing unlawful.
The rationale MLM corporations exclude the US and Canada is as a result of they’re probably the most lively in relation to securities regulation.
SureX Trade’s enterprise mannequin, as introduced, isn’t unlawful within the US or Canada – supplied the corporate registers with monetary regulators and filed audited monetary reviews.
These reviews are the one option to confirm an MLM firm is generated exterior income. And in the event that they’re not out there, that’s just about affirmation stated MLM firm isn’t doing what it claims to be.
However securities fraud is against the law the world over, not simply within the US and Canada.
With respect to SureX Trade, if it wasn’t apparent there is no such thing as a exterior income. All that’s occurring on the backend is newly invested funds are being recycled to pay earlier investor withdrawals.
In all probability the weakest level of SureX Trade’s charade is its Comply with Commerce Fund.
Of the 73 “merchants” featured, not a single one in all them is within the crimson.
I ought to level out that as an alternative of working legally, SureX Trade offers meaningless shell firm and FINCEN cerfiticates.
These usually are not an alternative choice to registration with monetary regulators. The FINCEN registration certificates is especially amusing, given SureX Trade is evidently fearful of the DOJ & SEC.
Jacky Zhou, who in SureX Trade advertising is credited with “9 years buying and selling expertise” however in a advertising video claims he solely received into buying and selling throughout COVID-19 lockdowns, apparently sees himself as the subsequent Changpeng Zhao.
Funnily sufficient, the SEC sued Zhao and his crypto change Binance earlier this month on a raft of civil fraud expenses.
Though not confirmed, an indictment towards Zhao is believed to be pending.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve SureX Trade of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of individuals lose cash.