Gigamax fails to offer possession or government info on its web site.
Gigamax’s present web site area (“ggmx.ai”), was privately registered on August 1st, 2023.
Earlier defunct Gigamax web site domains embrace “giga-max.on-line” and “gigamax.ai”.
There’s a third web site arrange at “gigamax-ai.com” however I imagine that is owned by restoration scammers (the web site is mainly a funnel to a dodgy Telegram channel).
SimilarWeb tracked ~1.1 million visits to Gigamax’s now defunct second .AI web site area in July 2023.
The vast majority of that visitors originate from Malaysia (76%), adopted by Indonesia (10%) and Bangladesh (8%).
Names we will connect to Gigamax embrace:
- Dato Abak
- D’Ben Al Shariff
- Doz Khadri
- Hafiz Ali
- Capt. Adnan
- Tn. Shah
- Xifu Tharma
- Tycoon Syazwan
Gabema Academy is a Malaysian crypto schooling platform that appears to have gotten into mattress with Gigamax.
It’s extremely doubtless that Gigamax is being run out of Malaysia itself.
Native authorities are already conscious of Gigamax. The Malaysian Securities Fee issued a Gigamax fraud warning on February 14th.
Of observe is Gigamax’s advertising supplies being created by means of “WPP 演示”, which seems to be a Chinese language app.
This means Gigamax has ties to Chinese language audio system (in Malaysia or elsewhere).
As all the time, if an MLM firm is just not brazenly upfront about who’s working or owns it, assume lengthy and arduous about becoming a member of and/or handing over any cash.
Gigamax’s Merchandise
Gigamax has no retailable services or products.
Associates are solely capable of market Gigamax affiliate membership itself.
Gigamax’s Compensation Plan
Gigamax solicits funding in cryptocurrency by means of varied buying and selling ruses.
Funding primarily takes place by means of a supplied Gigamax app.
The MLM aspect of Gigamax pays on recruitment of affiliate buyers.
Referral Commissions
Gigamax pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned immediately beneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
Gigamax caps referral commissions at 5 ranges.
Referral commissions are paid out as a proportion of cryptocurrency invested throughout these 5 ranges as follows:
- stage 1 (personally recruited associates, should generate 500 USDT in downline funding quantity) – 10%
- stage 2 (should generate 3000 USDT in downline funding quantity) – 13%
- stage 3 (should generate 5000 USDT in downline funding quantity) – 15%
- stage 4 (should generate 10,000 USDT in downline funding quantity) – 17%
- stage 5 (should generate 30,000 USDT in downline funding quantity) – 20%
Withdraw Match (Pool Commerce Arbitrage & Copy Commerce)
Gigamax pays an identical fee on withdrawals made by associates who spend money on their Pool Commerce Arbitrage and Copy Commerce ruses.
These withdrawal matches are paid utilizing the identical unilevel compensation construction as referral commissions (see above).
- stage 1 (should generate 500 USDT in downline funding quantity) – 10%
- stage 2 (should generate 2000 USDT in downline funding quantity) – 5.5%
- stage 3 (should generate 8000 USDT in downline funding quantity) – 5.3%
- stage 4 (should generate 15,000 USDT in downline funding quantity) – 5.1%
- stage 5 (should generate 30,000 USDT in downline funding quantity) – 4.5%
- stage 6 (should generate 45,000 USDT in downline funding quantity) – 4.1%
- stage 7 (should generate 65,000 USDT in downline funding quantity) – 3.8%
- stage 8 (should generate 75,000 USDT in downline funding quantity) – 3.5%
- stage 9 (should generate 85,000 USDT in downline funding quantity) – 3.1%
- stage 10 (should generate 100,000 USDT in downline funding quantity) – 2.9%
Withdrawal Match (EFTMAX)
Gigamax pays an identical fee on withdrawals made by associates who spend money on their ETFMAX ruse.
These withdrawal matches are paid utilizing the identical unilevel compensation construction as referral commissions (see above)
- stage 1 (should generate 500 USDT in downline funding quantity) – 1%
- stage 2 (should generate 2000 USDT in downline funding quantity) – 0.55%
- stage 3 (should generate 8000 USDT in downline funding quantity) – 0.53%
- stage 4 (should generate 15,000 USDT in downline funding quantity) – 0.51%
- stage 5 (should generate 30,000 USDT in downline funding quantity) – 0.45%
- stage 6 (should generate 45,000 USDT in downline funding quantity) – 0.41%
- stage 7 (should generate 65,000 USDT in downline funding quantity) – 0.38%
- stage 8 (should generate 75,000 USDT in downline funding quantity) – 0.35%
- stage 9 (should generate 85,000 USDT in downline funding quantity) – 0.31%
- stage 10 (should generate 100,000 USDT in downline funding quantity) – 0.29%
Becoming a member of Gigamax
Gigamax affiliate is both free or 50 USDT yearly.
Paid Gigamax affiliate membership offers entry to extra funding ruses.
Gigamax Conclusion
Gigamax seems to be within the “hold altering our web site area to cover from authorities” stage of its Ponzi scheme.
The Malaysian Securities Fee’ fraud warning was just a few months in the past, so important mass has doubtless additionally been attain (withdrawals have exceeded new funding).
That is mirrored in Gigamax’s .AI area visitors dropping 27% between June and July 2023.
Gigamax’s newly created web site area presents guests with the next message:
Pricey Gigamax customers,
We’re excited to share some essential updates relating to our platform:
1) New Area: As of yesterday, now we have migrated to a brand new area to boost our companies and supply a extra environment friendly person expertise.
2) Safety Futures: We’re implementing further safety measures to safeguard your property.
Throughout this course of, chances are you’ll expertise a brief slowdown within the login course of. Relaxation assured, that is to make sure your security.
3) Easy Withdrawals: In only one week, you’ll get pleasure from easy and hassle-free withdrawals.
We’re introducing enhanced options permitting you to withdraw as much as 10 occasions the rewards for every day, together with revenue rewards and affiliate rewards.
Capital withdrawals will solely be permitted after our Net 3.0 is absolutely operational, making certain a safe and seamless setting on your monetary transactions.
4) Information Migration: To additional enhance our companies, we’re diligently engaged on migrating all info from our previous system to Net 3.0.
This migration course of shall be accomplished by the top of August, permitting us to harness the ability of massive information for higher person experiences.
5) Your Fund’s Safety: We need to emphasize that the safety of your funds stays our utmost precedence.
We repeatedly spend money on sturdy safety protocols to safeguard your property and shield your privateness.
We recognize your continued help and belief in our platform. These upgrades will allow us to give you a fair higher and safer buying and selling expertise.
Ought to you’ve got any questions or issues, please don’t hesitate to achieve out to our devoted help crew.
Thanks for being part of our rising neighborhood!
Just about all the things within the message is straight up bullshit:
- altering a web site area doesn’t “improve companies” or “present a extra environment friendly person expertise”
- “net 3.0” isn’t a factor you may allow
- “information migration” inside Gigamax would take a couple of minutes (if that), not weeks
- you may’t “information migration” to web3.0, it’s not a factor (net 3.0 is a catch-all for crypto scams)
What isn’t talked about in Gigamax’s web site message is the corporate requiring buyers to deposit further cryptocurrency to maintain their accounts.
This can be a traditional restoration rip-off, being perpetrated by Gigamax by itself buyers.
Evidently should you’ve invested something into Gigamax, it’s gone. Throwing extra cryptocurrency on the rip-off isn’t going to get you something again.
No matter Gigamax does launch on its week-old would be the third reboot of an already twice-collapsed Ponzi scheme.
Personally I’m of the thoughts that is only a ruse to get gullible saps to deposit further funds, earlier than Gigamax pulls the plug on the finish of August.
Both means no matter occurs, math ensures the vast majority of individuals in Ponzi schemes lose cash.