DasCoin is a OneCoin Ponzi Points Clone
The Coin Leaders (CL) website states that the company is operated by CLAIMANT Singapore Pte. Ltd., which is based in Singapore. CLAIMANT Singapore is wholly owned by Coin Leadership Limited, based in Dubai.
John Pretto is recognized as Chairman of Coin Leaders.
The website says “John Pretto is an accomplished, innovative and entrepreneurial technologist with over 20 years of senior management experience in information technology, marketing and operations.
Past positions include serving as Chief Technology Officer for R66T (enterprise Wi-Fi), Chief Operating Officer for ComF5 (formerly Digital FX – digital media marketing platform), CTO and Co-founder of Hello Network (streaming media technology), and VP of Technology for SmartConnect (video surveillance for gaming).”
Coin Leaders Review – The Company
On the MLM side of things John Pretto was actively promoting the OneCoin Ponzi scheme last year. Before OneCoin Pretty was promoting Nuverus (nutrition).
Pretto seems to have become involved in OneCoin in early to mid-2015. Whether he is still involved is at this time unknown.
Read further for a complete review of the Coin Leaders MLM opportunity.
Coin Leaders Reviews – The Product
This company has absolutely no retailable products or services, and affiliates are only able to market the companies affiliate membership itself.
Coin Leaders Compensation Plan
CL affiliates invest up to €25,000 in DasCoin, a “hybrid cryptocurrency” run by Hong Kong based DasCoin Ltd.
Interestingly, in exchange for their investment, Coin Leaders affiliates receive a “software license”.
The website tells you that, “These software licenses makes it easy for anyone to receive cryptocurrency – directly from the source. There’s no need to buy coins on a currency exchange, or get involved with the complexities and hassles of a cryptocurrency ‘mining’ process.
Instead, company software enables you to help build the distributed network (on which DasCoin operates) and receive DasCoins in return. Everything is done for you!”
The more funds invested into software licenses, the higher the assigned value to DasCoin.
Through their software license, CL affiliates receive DasCoins through “cycles”.
They say, “As an incentive for providing cycles to the network, each licensee is rewarded with an amount of DasCoin calibrated to the level of the licensee’s contribution.”
Basically, the more a Coin Leaders affiliate invests the more DasCoin they supposedly receive.
- Standard – invest €100 EUR and receive 1265 cycles and 1 upgrade
- Manager – invest €500 EUR and receive 6325 cycles and 1 upgrade
- Pro – invest €2000 EUR and receive 27,600 cycles and 1 upgrade
- Executive – invest €5000 EUR and receive 74,750 cycles and 2 upgrades
- President – invest €25,000 EUR and receive 373,750 cycles and 3 upgrades
An upgrade is triggered when the rate of cycles changed into DasCoins drops below 50% productivity (from a starting point of 100 productivity).
When an upgrade is triggered, Coin Leaders affiliate cycles that have not yet been converted into DasCoins are doubled.
CL pay affiliates a 20% referral fee on funds invested by individually recruited affiliates.
Coin Leaders affiliates receive a % match on downline earnings via 3 levels of recruitment (uni-level).
- Level 1 (personally recruited affiliates) – 30% match
- Level 2 – 40% match
- Level 3 – 50% match
Joining Coin Leaders
Coin Leaders affiliate membership is completed through an initial investment of between €100 and €25,000 EUR.
Coin Leaders Bottom Line?
I can’t emphasize this enough. There is no legitimate reason for an MLM company to be domiciled in Singapore, owned by a shell company in Dubai and operated by someone living in the US.
The corporate structure of Coin Leaders look as if it has been implemented with money laundering in mind.
That might sound severe initially, but upon careful consideration of Coin Leaders’ compensation plan, is wholly justifiable.
CL is without a doubt John Pretto’s attempt at the OneCoin Ponzi business model.
Affiliates invest in “cycles” (OneCoin tokens), which are changed into DasCoin (OneCoins), which are assigned an arbitrary value by DasCoin, a centralized authority.
DasCoin is not publicly tradeable and can only be attained via Coin Leaders investment. And, hey, in addition, it fits into the whole money laundering theme by supposedly being based in Hong Kong.
The CoinLeaders website identifies the CEO of DasCoin Limited as Michael Mathias.
Not surprisingly, Mathias is/was also a OneCoin affiliate.
Coin Leaders and DasCoin present the typical associations to legitimate cryptocurrencies and nonsense about external use of the coin through a merchant network.
Coin Leaders – Should You Join?
In reality, though, Coin Leaders and DasCoin offer nothing more than a Ponzi pyramid hybrid.
Their website ridiculously states, “Our premiere license…provides an unparalleled combination of benefit and yields rewards that are a 10x magnitude greater than even the Executive License!”
In fact, the Ponzi component of Coin Leaders is the investment of monies which are transformed into DasCoins. Then to top it off…the value of DasCoin is assigned by DasCoin Limited, the company running the point-generation script that spits out DasCoins.
The worth of DasCoins is really nothing more than the rate of investment from Coin Leaders affiliates.
Affiliates cash DasCoins through Coin Leaders, who use newly invested funds to pay off existing investors.
Although intricate in an attempt to pose as a legitimate cryptocurrency, this is nevertheless the full definition of a Ponzi scheme.
The company pyramid layer is found in its referral commissions, in which affiliates are paid to recruit new affiliate investors.
Referral commissions are funded out of monies invested by newly recruited affiliates.
Coin Leaders – Conclusion
As with all Ponzi schemes, once recruitment of new affiliate investors ends, Coin Leaders will ultimately collapse.
This has previously presented itself in OneCoin, among reports that coin withdrawals by affiliates are next to impossible (the only source of income for most is referral commissions).
As it appears, Coin Leaders seems to have been launched by Ponzi scammers who joined OneCoin and then left.
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