Etherconnect Review: coupled with a Defi-supported ECC token offer, the platform advertises that clients can earn 0.33%-0.58% of daily capitalizations.
The monthly remittals, reflecting culminations from daily profits, are 10% ROI or 17% ROI depending on a member’s affiliate Level. Typical of MLM platforms, there is little information to go by on the website.
As reports of the company being a transition stage of a previous MLM brand picks pace online, our Etherconnect Review looks at the services and products of the platform. We also examine its supposed blockchain tech and arrive at a credible conclusion.
See more information in this Etherconnect Review.
Etherconnect Review: Overview
Our Etherconnect Review starts with a peek at possible details of the Admin. However, none exist on the website.
Regardless, Etherconnect might well be a refurbished brand of a previous company, given its very recent domain registration. A more explicit link manifests in the platform’s official logo and PR media hand-outs, which looks like Bitconnect’s. (Recall that Bitconnect ripped off a huge pile through its crypto triangle scheme)
The company would later prove this view in a video highlighting a 2018 vetting of Bitconnect by appropriate authorities. Also, as the video concludes with the remark that the platform is the aftermath of Bitconnect, our Etherconnect Review suspects that both sites are the same. But there are some cliffhangers.
See the MLM history of Bitconnect in the following section of this Etherconnect Review.
Crypto Rip-off, Prelude to Etherconnect
Since our Etherconnect Review finds that the company poses as a rebrand of Bitconnect, we examine a shady history of its Bitconnect prelude.
After a quiet 2016 creation, Bitconnect becomes cordoned in an investigation that involves the US SEC. However, its operators and the key persons got wind of the onslaught and muddied their address. A promoter, Glen Arcaro, who reportedly bilked a chunk of investors’ funds, was remarkably able to evade litigation to date.
Regardless, some international key players in the Ponzi scheme could not escape authorities in India. Divyesh Darji and Satish Kumbahani are two such individuals. The US would later liaise for a $5.6 billion reparation following the arrest of the two men.
Our Etherconnect Review also finds that some PR agents of Etherconnect, Trevon James and Craig Grant, reportedly confirm the falling out with US SEC agencies. There is no news of their arrest, though.
Later, those defrauded by Bitconnect reportedly got a recompense to varying levels, but the harm is done.
The next section of this Etherconnect Review explains the matched ROIs per referral level. See how it works below.
Monthly Caps, ROI Framework
The pegged remittal on a monthly period is 10%. It is disbursed in the following manner:
1% for Level 5
3% for Level 4
3% for Level 3
5% for Level 2
And 10% for Level 1 _ for personally referred members.
Instead of tacking on recruitments from all embedded binary teams, Etherconnect uses different criteria. It tallies ROIs on the specified volumes of recruitments. For instance,
Level 3, 4, and 5 remits ROIs tallied to three recruitments to the Affiliate Package.
Other recruitments are:
Two for an ROI on Level 2, and
One for profits on Level 1.
See the Affiliate Packages in the next section of this Etherconnect Review.
Etherconnect, intending to raise the market value of its crypto token, accepts fiat deposits for ECC token as membership prelim.
The seven (7) packages are as shown below:
Black Panther _ available for two (2) Cyclones two different pairs of your binary team and recruitments to a $10,000,000 package.
Cyclone _ available for tow (2) Typhoons in two different pairs of your binary team and recruitments to a $3,000,000 package
Typhoon _ sells for two (2) Tornadoes in two different pairs of your binary team sides and recruitments to a $1,000,000 package.
Tornado _ sells for two (2) Gladiators in two different pairs of your binary team sides and recruitments to a $400,000 package.
Gladiator _ you can get the package when you recruit people to a $175,000 package and maintain two (2) Racers in two different pairs of your binary team sides.
Racer _ you can get the package for a cumulative 30% investment volume on either of your binary team sides and an initial $50,000 ECC deposit.
Affiliate _ available on registration.
ECC/EYFI Token, Mammoth Launch
The looming mammoth EYFI project has been launched surreptitiously in an event termed Ether Yield Farming. It supposedly serves as the much-awaited Defi network.
Beneath its supposed Defi veneer, the coin is of no value on any blockchain. Before its launch, the ECC has been sold for substantial wads of US dollars. Clients rely only on the success of the EYFI mine to get any remittals.
As it happens, our Etherconnect Review finds that the frenzy might well be an elephant project, as Etherconnect does not broker any legit securities.
Etherconnect Review: Credibility
Our Etherconnect Review concludes with the following highlights:
Etherconnect does not have any tangible investments. It merely rakes the fad for Bitconnect’s flunked crypto Ponzi through series of gaudy ICO events.
Also, the company conveniently sidesteps all SEC-regulatory requisites by claiming it offers OTC services. But even that falls under some regulatory jurisprudence, particularly if its trade terms are vague.
Moreover, our Etherconnect Review finds nothing remarkable about the ECC token _ its circulation records a constant zero on any counter. Even the ECC deposit criteria on the Etherconnect platform could not rev up the token’s miserly thousandths of dollar valuation.
On the whole, our Etherconnect Review concludes that the company has no legit securities on any blockchain. Etherconnect clients are only queuing up for a Ponzi rip-off.